burnaby south CONDO - NOVEMBER 2 0 2 3
SALES TO LISTINGS RATIO 18% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 8% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 10% VS 2022
▲ 20% VS 2022
▲ 19% VS 2022
▼ 26% VS 2022
There were 309 condo listings in Burnaby South in November, 1.0% above October and 19% higher than November 2022. November condo sales decreased by 25% month-over-month, to 56, and were 26% below November 2022. The sales-to-listing ratio for condos in Burnaby South, at 18%, reflected a balanced market. The condo median price in November was $795,500, a 9% increase from October and 20% above November 2022. The average sold price was $787,312, 1.5% above last month; the average PSF sale price was $922, down 7% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$922 $787,312 $795,500 18% 56 309
$853 $718,032 $663,500 29% 76 259
8% 10% 20% -38% -26% 19%
$987 $775,736 $728,000 25% 75 306
-7% 1.5% 9% -26% -25% 1%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● NOV 2022 ● NOV 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
309
306
305
259
257
254
249
245
242
242
226
203
161
196
149
90
84
116
75
66
96
76
93
79
56
33
$840K
$796K
$784K
$794K
$780K
$750K
$743K
$745K
$728K
$728K
$710K
$684K
$664K
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
100
4+ bdrms
80
2
3 bdrms
60
41
42%
40
27%
39
2 bdrms
16%
20
181
5%
5%
0
15
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
<2 bdrms
S-L RATIO SALES INVENTORY
26 11 42%
109 17 16%
89 24 27%
56 3 5%
20 1 5%
8 0 n/a
1 0 n/a
87
Copyright © 2023 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 December 11, 2023. All data from Real Estate Board of Greater Vancouver and Fraser Valley & 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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