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Vancouver Real Estate Market Update Reports / South Burnaby Real Estate Market Update Forecast Report

Burnaby Housing Market Trends

Index Abbotsford Burnaby North Burnaby Chilliwack Coquitlam North Delta Delta Ladner Langley N. Langley Maple Ridge Mission New West Port Coquitlam Port Moody Richmond Surrey West Surrey East South Surrey White Rock Vancouver Westside Downtown-West End Yaletown East Vancouver West Van North Van

Burnaby Real Estate Market Reports and Forecasts Previous Report

Burnaby Market Update
East Burnaby, Government Road, Deer Lake, Capitol Hill BN, South Slope and all the sub-areas of Burnaby Real Estate Market Update Report.

May 1, 2013

Current: Burnaby's Residential Detached housing market is in a Buyers Market with a LOW 11 %SOLD rate. (This means 11 homes out of 100 sold in Apr with an average $54,950 discount from the original price) Lesson

Most Active Range: Homes below $800,000 have 19.3 %SOLD rate.
Least Active Range: Homes between $1.5 million - $1.75 million have 1.8 %SOLD rate.

History: The Burnaby Home Price Index HPIp (Top 50%) shows that prices increased $15,682 in 2012.
The Burnaby Home Price Index HPIp (Lower 50%) shows that prices decreased $13,955 in 2012.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.

Forecast: Burnaby has high Listing supply; 502 homes are for sale and with the low 11 %SOLD monthly rate gives us a ~ 9 months of inventory. At this sell through rate approximately 359 of these listings will not sell. Currently 22% of the active listings have reduced their price by $75,679 on average or $50,000 median. The next few weeks should see increased sales in the local real estate market. The Spring Fever and the Election Resolve should inspire a new buyers confidence. With this new affordability Move-Up Buyers thinking location should consider this a prime time to do so.

We thank Albert Yen for his support of these Burnaby Real Estate Updates which include sub-areas such as East Burnaby, Capitol Hill BN, South Slope, Government Road, Deer Lake etc. Contact Albert as the Local Expert.... more details.

Download the full BurnabyMarketupdatereport.PDF

This Burnaby Real Estate Market update includes the sub areas Government Road, Deer Lake, East Burnaby, Capitol Hill BN, South Slope etc.

Click Image to compare previous STR/ MTI graphs Trying to do the math? Lessons: STR MTI

Ladner, South Delta, Real Estate Market Update Report

Burnaby , East Burnaby and NewWest

This is the most accurate %SOLD-Monthly Sell Through Rates (STR Graph) using a 4 week time period to analysis the housing prices and Market trends. This Market Report is derived from the exact Sat to Friday 4 week time periods and this is dramatically more accurate than the month to month comparisons that vary based on actual working days eg month, weekends. These trends enable Real Estate Market predictions and forecast outlooks.

Disclaimer: Market predictions are exactly that: predictions. Market conditions are changing daily and you should consult with your local expert to confirm facts before making any decisions.

Study Criteria: Sq.ft. 2000 to 3500, Frontage: Maximum 69, Bedroom: 3 to 6, Age: 3 to 65 years. As per Study area Map

Previous underpriced homes data

Why we study the market changes

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