the vancouver rennie review | July 2024

burnaby north DETACHED - JUNE 2 0 2 4

SALES TO LISTINGS RATIO 23% SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 12% VS 2023

▲ 21% VS 2023

▲ 49% VS 2023

▲ 36% VS 2023

There were 130 detached listings in Burnaby North in June, no change to May and 49% higher than June 2023. June detached home sales decreased by 17% month-over-month, to 30, and were 36% above June 2023. The sales-to-listing ratio for detached in Burnaby North, at 23%, reflected a sellers' market.

THIS MONTH No. $2,478,183 $2,482,500 23% 30 130

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE

22 87

12% 21% -9% 36% 49%

$2,339,156 $2,182,500 28% 36 130

6% 14% -17% -17% 0%

The detached median price in June was $2,482,500, a 14% increase from May and 21% above June 2023.

$2,206,718 $2,053,160 25%

The average sold price was $2,478,183, 6% above last month and up 12% to June 2023.

▶ RATIO OF MEDIAN PRICES

▶ RECENT TRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

130

114

130

107

104

2.61

90

104

2.47

2.48

84

87

87

83

81

70

36

31

26

24

30

19

22

1.38

24

1.32

19

18

18

16

16

1.14

$2.48M

$2.21M $2.22M $2.18M $2.14M $2.03M

$2.05M

$1.95M $2.07M

$1.89M $1.99M $1.93M

$1.85M

23-Jun

24-May

24-Jun

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY ● S-L RATIO

40

30

67%

20

33%

18%

10

8%

0

<$1M

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M

$6.0M+

S-L RATIO SALES INVENTORY

18 12 67%

39 3 8%

24 8 33%

40 7 18%

5 0 n/a

1 0 n/a

3 0 n/a

Copyright © 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of July 8, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 14 ●

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