the vancouver rennie review | July 2024

burnaby north CONDO - JUNE 2 0 2 4

SALES TO LISTINGS RATIO 21% BALANCED MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▲ 0.7% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 85% VS 2023

▼ 5% VS 2023

▼ 6% VS 2023

▼ 5% VS 2023

There were 553 condo listings in Burnaby North in June, 3% above May and 85% higher than June 2023.

June condo sales increased by 8% month-over-month, to 115, and were 5% below June 2023.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No. 121 299

% Change

No. 106 536

% Change

The sales-to-listing ratio for condos in Burnaby North, at 21%, reflected a balanced market.

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

115 553

0.7% -5% -6% -49% -5% 85%

3% 5% 8% 3%

The condo median price in June was $689,000, a 3% increase from May and 6% below June 2023. The average sold price was $717,293, 0.2% below last month; the average PSF sale price was $940, up 4% to last month.

$940 $717,293 $689,000 21%

$933 $751,752 $730,000 40%

$905 $718,926 $667,000 20%

4% -0.2%

▶ AVG PRICE PER SQUARE FOOT

▶ RECENT TRENDS

● JUN 2023 ● JUN 2024

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

521

553

536

429

389

339

400

392

357

299

315

289

267

118

104

92

121

83

85

115

109

106

84

68

64

63

$730K

$722K

$709K

$710K

$713K

$699K

$699K

$683K

$689K

$668K

$665K

$667K

$652K

BURNABY NORTH

REBGV

▶ NUMBER OF BEDROOMS

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY

● SALES ● TOTAL INVENTORY ● S-L RATIO

200

4+ bdrms

2

150

9

3 bdrms

59

100

36%

21% 19%

52

50

2 bdrms

13%

315

4%

4%

0

54

<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+

<2 bdrms

S-L RATIO SALES INVENTORY

98 35 36%

217 46 21%

129 25 19%

53 7 13%

23 1 4%

23 1 4%

3 0 n/a

7 0 n/a

177

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. 16 ●

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