Month: July 2017

Burnaby Condo Market Update (1 bedroom) – June 2017

Oleg First time buyers, For Buyers, For Sellers, Market update, Statistics

Burnaby BC condo market update

Here is a real estate market update of one bedroom condo unit in Burnaby BC in June 2017. This market update only includes condos; townhouses and houses are excluded. Statistics only include 1 bedroom condos, but the 2+ condo market is very similar.

Average Sales Price

Average Sales Price of one bedroom condo in Burnaby in June 2017 (see graph below)

Burnaby East: $457,500 | +22.5% (change since June 2016)

Burnaby North: $392,209 | +20.7% (change since June 2016)

Burnaby South: $470,880 | +34.5% (change since June 2016)

Average Percent of Original Listing Price

Average Percent of Original Price of one bedroom condo in Burnaby in June 2017 (see graph below)

Burnaby East: 105.6% | +2.9% (change since June 2016)

Burnaby North: 104.2% | +1.6% (change since June 2016)

Burnaby South: 108.0% | +5.8% (change since June 2016)

Average Price Per Square Foot

Average Price Per Square Foot of one bedroom condos in Burnaby in June 2017 (see graph below)

Burnaby East: $809 | +43.7% (change since June 2016)

Burnaby North: $572 | +18.9% (change since June 2016)

Burnaby South: $729 | +29.3% (change since June 2016)

Total Inventory

Total Inventory of one bedroom condos in Burnaby in June 2017 (see graph below)

Burnaby East: 4 | -20.0% (change since June 2016)

Burnaby North: 26 | -21.2% (change since June 2016)

Burnaby South: 25 | -47.9% (change since June 2016)

New Listings

Total number of New Listings of one bedroom condos in Burnaby in June 2017 (see graph below)

Burnaby East: 6 | +20.0% (change since June 2016)

Burnaby North: 27 | -15.6% (change since June 2016)

Burnaby South: 40 | -11.1% (change since June 2016)

Sales

Total number of Sales of one bedroom condos in Burnaby in June 2017 (see graph below)

Burnaby East: 2 | -66.7% (change since June 2016)

Burnaby North: 39 | -4.9% (change since June 2016)

Burnaby South: 42 | -14.3% (change since June 2016)

Sales to Active Listings Ratio

Sales to Actives Ration of one bedroom condos in Burnaby in June 2017 (see graph below)

Burnaby East: 0.500 | -58.3% (change since June 2016)

Burnaby North: 1.500 | +20.8% (change since June 2016)

Burnaby South: 1.680 | +64.5% (change since June 2016)

In conclusion, Burnaby condo market is very active. On average condos are selling 5-8% over the original listing price. Sales to actives ratio indicates very strong sellers market. Prices continuously climbing and inventory levels are unusually low for the season.

Vancouver Housing Market Update – June 2017

Oleg First time buyers, For Buyers, For Sellers, Market update, Statistics

vancouver housing update

Here are the real estate stats for the Vancouver housing market in June 2017. We will only look at resale detached houses. Condos and townhouses are excluded. Brand new construction is also excluded. Each graph goes back 3 years.

Average Sales Price

Average Sales Price of detached houses in Vancouver BC in June 2017 (see graph below)

Vancouver East: $1,692,376 | +1.8% (change since June 2016)

Vancouver West: $3,931,582 | -5.3% (change since June 2016)

Average Percent of Original Price

Average percent of original price of detached houses in Vancouver BC in June 2017 (see graph below)

Vancouver East: 100.7% | -4.7% (change since June 2016)

Vancouver West: 97.9% | -4.4% (change since June 2016)

Total Inventory

Total Inventory of detached houses in Vancouver BC in June 2017 (see graph below)

Vancouver East: 785 | +37.5% (change since June 2016)

Vancouver West: 712 | +11.8% (change since June 2016)

New Listings

Total number of the new listings of detached houses in Vancouver BC in June 2017 (see graph below)

Vancouver East: 332 | +4.7%(change since June 2016)

Vancouver West: 323 | +2.5% (change since June 2016)

Sales

Total number of detached houses sold in Vancouver BC in June 2017 (see graph below)

Vancouver East: 156 | +1.3% (change since June 2016)

Vancouver West: 108 | -27.5% (change since June 2016)

Sales to Active Listings Ratio

Sales to the active listings ratio of detached houses in Vancouver BC in June 2017 (see graph below)

Vancouver East: 0.199 | -26.3% (change since June 2016)

Vancouver West: 0.152 | -35.0% (change since June 2016)

In conclusion, Vancouver housing prices are holding steady. Properties are selling reasonably well. We see good inventory levels and good influx of new listings every month. The housing market in Vancouver East is stronger than in Vancouver West with more buyer activity. Overall both Vancouver East and Vancouver West are balanced markets (based on sales to active listings ratio).

Burnaby Housing Market Real Estate Update – June 2017

Oleg Articles, First time buyers, For Buyers, For Sellers, Market update, News, Statistics

burnaby housing market update

Here is a real estate update of Burnaby housing market for June 2017. We will look at detached market only. Condos and townhouses have their own market update in a separate blog post. We will only look at resale homes (no new construction).

Average Sales Price

Average Sales Price of detached house in Burnaby in June 2017 (see graph below)

Burnaby East: $1,634,000 | +12.6% (change since June 2016)

Burnaby North: $1,737,458 | -3.6% (change since June 2016)

Burnaby South: $1,846,264 | +4.6% (change since June 2016)

Average Percent of Original Asking Price

Average Percent of Original Price of houses in Burnaby in June 2017 (see graph below)

Burnaby East: 99.6% | -3.2% (change since June 2016)

Burnaby North: 97.3% | -3.4% (change since June 2016)

Burnaby South: 98.8% | -5.4% (change since June 2016)

Total Inventory

Total inventory of detached houses in Burnaby in June 2017 (see graph below)

Burnaby East: 58 | 0.0% (change since June 2016)

Burnaby North: 177 | +13.5% (change since June 2016)

Burnaby South: 224 | +15.5% (change since June 2016)

New Listings

Total number of New Listings of detached houses in Burnaby in June 2017 (see graph below)

Burnaby East: 28 | -15.2% (change since June 2016)

Burnaby North: 101 | +6.3% (change since June 2016)

Burnaby South: 107 | 0.0% (change since June 2016)

Sales

Total Sales of detached houses in Burnaby in June 2017 (see graph below)

Burnaby East:  9 | -55.0% (change since June 2016)

Burnaby North: 43 | -8.5% (change since June 2016)

Burnaby South: 46 | -8.0% (change since June 2016)

Sales to Active Listings Ratio

Sales to Active Listings Ratio of detached houses in Burnaby in June 2017 (see graph below)

Burnaby East:  0.155 | -55.1% (change since June 2016)

Burnaby North: 0.243 | -19.3% (change since June 2016)

Burnaby South: 0.205 | -20.5% (change since June 2016)

In conclusion, Burnaby detached housing market is a little slower than it was at this time last year. Average sale price prices remain strong. Average sale price of detached houses in Burnaby East is at it’s all time high. We see healthy inventory levels in all the Burnaby areas. Total number of sales is about the same as June 2016.  Based on the Sales to Active Listings Ration all three Burnaby areas are in a balanced market with a slight favourability of sellers.

Vancouver Downtown Condo Market Update – June 2017

Oleg First time buyers, For Buyers, For Sellers, Market update, Statistics

Downtown Vancouver has experienced high levels of market activity over the last couple of months. Price increases, high sales to active listings ratio and low inventory levels.

Here is a detailed breakdown of Downtown Vancouver condo market for June 2017. Only resale real estate is accounted for. The statistics below represent one bedroom and studio condo units.

Average Sales Price

Average Sales Price of ONE bedroom condo units in downtown Vancouver in June 2017 (see graph below)

Coal Harbour: $867,889 | +5.3% (change since June 2016)

Downtown VW: $655,465 | +15.2% (change since June 2016)

West End: $600,197 | +9.3% (change since June 2016)

Yaletown: $711,028 | +13.1% (change since June 2016)

 

Average Percent of Original Price

Average Percent of Original Asking Price for ONE bedroom condo units in downtown Vancouver in June 2017 (see graph below)

Coal Harbour: 105.2% | -0.8% (change since June 2016)

Downtown VW: 104.0% | -1.9% (change since June 2016)

West End: 103.7% | -4.1% (change since June 2016)

Yaletown: 101.1% | -4.1% (change since June 2016)

 

 

Average Price Per Square Foot

Average Price Per Square Foot for ONE bedroom condo units in downtown Vancouver in June 2017 (see graph below)

Coal Harbour: $1,270 | +13.2% (change since June 2016)

Downtown VW: $1,065 | +15.1% (change since June 2016)

West End: $991 | +17.6% (change since June 2016)

Yaletown: $1,096 | +11.3% (change since June 2016)

 

 

Total Inventory

Total Inventory of ONE bedroom condo units for sale in downtown Vancouver in June 2017 (see graph below)

Coal Harbour: 12 | -14.3% (change since June 2016)

Downtown VW: 51 | -22.7% (change since June 2016)

West End: 32 | +14.3% (change since June 2016)

Yaletown: 22 | -42.1% (change since June 2016)

 

 

New Listings

New Listings of ONE bedroom condo units for sale in downtown Vancouver in June 2017 (see graph below)

Coal Harbour: 9 | -25.0% (change since June 2016)

Downtown VW: 76 | -23.2% (change since June 2016)

West End: 29 | +3.6% (change since June 2016)

Yaletown: 24 | -51.0% (change since June 2016)

 

Total Sales

Number of Sales of ONE bedroom condo units in downtown Vancouver in June 2017 (see graph below)

Coal Harbour: 9 | 0.0% (change since June 2016)

Downtown VW: 65 | -30.9% (change since June 2016)

West End: 18 | -35.7% (change since June 2016)

Yaletown: 25 | -44.4% (change since June 2016)

 

 

Sales to Actives Ratio

Number of Sales of ONE bedroom condo units in downtown Vancouver in June 2017 (see graph below)

Coal Harbour: 0.750 | +16.6% (change since June 2016)

Downtown VW: 1.275 | -10.5% (change since June 2016)

West End: 0.563 | -43.7% (change since June 2016)

Yaletown: 1.136 | -4.1% (change since June 2016)

In conclusion, all of Vancouver Downtown neighbourhoods are very active. Condos are selling for over the asking price with multiple offers. Prices have increased since last year. The inventory levels decreased as compared to last year June, which already had record low inventory levels.