Month: October 2017

Let’s take a closer look at the Burnaby BC detached housing market in September 2017. We will only look at detached re-sale properties. New construction and strata units are excluded.

• See also “Burnaby Real Estate Condo Market Update – September 2017 (1 bedroom)“

Average Sales Price

Average Sales Price of detached houses in Burnaby in September 2017 (see graph below)

Burnaby East: $1,409,000 | +2.3% (change since September 2016)

Burnaby North: $1,702,333 | +10.7% (change since September 2016)

Burnaby South: $1,937,720 | 0.0% (change since September 2016)

Average Percent of Original Price

Average Percent of Original Asking Price for detached houses in Burnaby in September 2017 (see graph below)

Burnaby East: 95.9% | +1.3% (change since September 2016)

Burnaby North: 95.0% | -0.1% (change since September 2016)

Burnaby South: 95.8% | +3.2% (change since September 2016)

Total Inventory

Total Inventory of detached houses in Burnaby in September 2017 (see graph below)

Burnaby East: 59 | +1.7% (change since September 2016)

Burnaby North: 217 | +8.5% (change since September 2016)

Burnaby South: 260 | +10.6% (change since September 2016)

New Listings

All New Listings of detached houses in Burnaby in September 2017 (see graph below)

Burnaby East: 23 | +35.3% (change since September 2016)

Burnaby North: 95 | +25.0% (change since September 2016)

Burnaby South: 106 | +37.7% (change since September 2016)

Sales

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

Burnaby East: 8 | -11.1% (change since September 2016)

Burnaby North: 24 | -17.2% (change since September 2016)

Burnaby South: 25 | +38.9% (change since September 2016)

Sales to Actives Ratio

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

Burnaby East: 0.136 | -12.3% (change since September 2016)

Burnaby North: 0.111 | -23.4% (change since September 2016)

Burnaby South: 0.096 | +24.7% (change since September 2016)

In conclusion, Burnaby housing market has been a balanced market in September 2017. The prices are “holding”. We see healthy inventory levels and a good flow of new listings. If the same market trends continue we’ll be experiencing a buyer’s market in a few months time.

Let’s take a look at Burnaby BC 1 bedroom condo market in September 2017. We will only focus on one bedroom condo units. Townhouses are not included. Detached homes have a separate market update.

• See also “Burnaby BC Detached Houses Market Update – September 2017“

Average Sales Price

Average Sales Price of one bedroom condos in Burnaby in September 2017 (see graph below)

Burnaby East: $450,667 | +8.6% (change since September 2016)

Burnaby North: $422,458 | +14.9% (change since September 2016)

Burnaby South: $472,052 | +34.1% (change since September 2016)

Average Percent of Original Price

Average Percent of Original Asking Price of one bedroom condo units in Burnaby BC in September 2017 (see graph below)

Burnaby East: 102.8% | +3.7% (change since September 2016)

Burnaby North: 100.8% | +0.1% (change since September 2016)

Burnaby South: 104.1% | +3.6% (change since September 2016)

Average Price Per Square Foot

Average Price Per Square Foot of one bedroom condo units in Burnaby BC in September 2017 (see graph below)

Burnaby East: $714 | +4.7% (change since September 2016)

Burnaby North: $657 | +14.1% (change since September 2016)

Burnaby South: $766 | +36.8% (change since September 2016)

Total Inventory

Total Inventory of one bedroom condo units in Burnaby BC in September 2017 (see graph below)

Burnaby East: 5 | +25.0% (change since September 2016)

Burnaby North: 25 | -34.2% (change since September 2016)

Burnaby South: 38 | 0.0% (change since September 2016)

New Listings

New Listings of one bedroom condo units in Burnaby BC in September 2017 (see graph below)

Burnaby East: 2 | 0.0% (change since September 2016)

Burnaby North: 27 | +22.7% (change since September 2016)

Burnaby South: 39 | +18.2% (change since September 2016)

Sales

Total Sales of one bedroom condos in Burnaby BC in September 2017 (see graph below)

Burnaby East: 6 | +200.0% (change since September 2016)

Burnaby North: 19 | +18.8% (change since September 2016)

Burnaby South: 32 | +18.5% (change since September 2016)

Sales to Actives Ratio

Sales to Active Listings Ratio of one bedroom condos in Burnaby BC in September 2017 (see graph below)

Burnaby East: 1.200 | +140.0% (change since September 2016)

Burnaby North: 0.760 | +80.5% (change since September 2016)

Burnaby South: 0.842 | +18.4% (change since September 2016)

In conclusion, Burnaby condo market in September 2017 is still a very strong seller’s market. Although the inventory levels are slowly going up, the strong buyer demand drives prices up. East Burnaby is doing exceptionally well.

A detailed breakdown of 1 bedroom and studio condo units in downtown Vancouver. This real estate update will only focus on resale strata units. New construction units are not accounted for. Detached properties have their own market update.

• Also see “Vancouver Detached Housing Market Real Estate Update – September 2017“

Average Sales Price

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

Coal Harbour: $724,434 | +38.1% (change since September 2016)

Downtown VW: $677,084 | +29.2% (change since September 2016)

West End: $563,227 | +14.9% (change since September 2016)

Yaletown: $802,942 | +26.3% (change since September 2016)

Average Percent of Original Price

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

Coal Harbour: 99.2% | +1.1% (change since September 2016)

Downtown VW: 103.5% | +3.4% (change since September 2016)

West End: 101.5% | -2.9% (change since September 2016)

Yaletown: 104.7% | +5.7% (change since September 2016)

Average Price Per Square Foot

Average Price Per Square Foot for ONE bedroom condos in downtown Vancouver in September 2017 (see graph below)

Coal Harbour: $1,188 | +33.2% (change since September 2016)

Downtown VW: $1,109 | +25.7% (change since September 2016)

West End: $935 | +20.2% (change since September 2016)

Yaletown: $1,172 | +17.9% (change since September 2016)

Total Inventory

Total Inventory of ONE bedroom condos in downtown Vancouver in September 2017 (see graph below)

Coal Harbour: 14 | -46.2% (change since September 2016)

Downtown VW: 51 | -69.1% (change since September 2016)

West End: 38 | -11.6% (change since September 2016)

Yaletown: 33 | -47.6% (change since September 2016)

New Listings

All New Listings of ONE bedroom condo units in downtown Vancouver in September 2017 (see graph below)

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

Downtown VW: 69 | -6.8% (change since September 2016)

West End: 40 | +14.3% (change since September 2016)

Yaletown: 45 | +21.6% (change since September 2016)

Total Sales

Total Sales of ONE bedroom condo units in downtown Vancouver in September 2017 (see graph below)

Coal Harbour: 11 | +83.3% (change since September 2016)

Downtown VW: 58 | +18.4% (change since September 2016)

West End: 33 | +43.5% (change since September 2016)

Yaletown: 21 | +10.5% (change since September 2016)

Sales to Actives Ratio

Sales to Active Listings Ratio of ONE bedroom condo units in downtown Vancouver in September 2017 (see graph below)

Coal Harbour: 0.786 | +240.3% (change since September 2016)

Downtown VW: 1.137 | +282.8% (change since September 2016)

West End: 0.868 | +62.2% (change since September 2016)

Yaletown: 0.636 | +110.6% (change since September 2016)

In conclusion, downtown condo market is still very active. It continues being a strong seller’s market with a majority of 1 bedroom units selling over the asking price. In September we’ve seen some of the lowest inventory levels in the past 10 years. Prices are continuously climbing.