burnaby south CONDO - JUNE 2 0 2 4
SALES TO LISTINGS RATIO 19% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 5% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 79% VS 2023
▼ 7% VS 2023
▼ 6% VS 2023
▼ 26% VS 2023
There were 455 condo listings in Burnaby South in June, 12% above May and 79% higher than June 2023.
June condo sales increased by 4% month-over-month, to 86, and were 26% below June 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 116 254
% Change
No.
% Change
The sales-to-listing ratio for condos in Burnaby South, at 19%, reflected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$956 $749,498 $740,000 19% 86 455
-59% -26% 79%
$954 $776,894 $750,000 20% 83 408
0.2% -4% -1.3% -7% 4% 12%
The condo median price in June was $740,000, a 1.3% decrease from May and 6% below June 2023. The average sold price was $749,498, 4% below last month; the average PSF sale price was $956, up 0.2% to last month.
$1,009 $808,357 $783,900 46%
-5% -7% -6%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUN 2023 ● JUN 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
455
408
309
305
334
257
306
254
281
264
249
245
242
101
90
116
75
86
93
92
83
79
78
63
58
56
$794K
$796K
$784K
$780K
$779K
$767K
$758K
$758K
$745K
$750K
$740K
$728K
$730K
BURNABY SOUTH
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
160
140
4+ bdrms
1
120
100
4
3 bdrms
80
64
60
27%
24%
48
19%
40
2 bdrms
10%
236
20
0
34
<$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
68 16 24%
151 41 27%
110 21 19%
84 8 10%
25 0 n/a
14 0 n/a
3 0 n/a
154
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. 19 ●
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