Month: January 2018

• See also “Burnaby Detached Housing Market Update – December 2017“

Average Sales Price

Average Sales Price of one bedroom and studio condos in Burnaby in December 2017 (see graph below)

Burnaby East: $476,000 | +27.1% (change since December 2016)

Burnaby North: $480,863 | +43.6% (change since December 2016)

Burnaby South: $481,269 | +23.1% (change since December 2016)

Average Percent of Original Price

Average Percent of Original Asking Price for one bedroom and studio condos in Burnaby BC in December 2017 (see graph below)

Burnaby East: 108.2% | +12.1% (change since December 2016)

Burnaby North: 103.8% | +5.1% (change since December 2016)

Burnaby South: 105.4% | +9.1% (change since December 2016)

Average Price Per Square Foot

Average Price Per Square Foot for one bedroom and studio condos in Burnaby BC in December 2017 (see graph below)

Burnaby East: $763 | +29.1% (change since December 2016)

Burnaby North: $695 | +37.6% (change since December 2016)

Burnaby South: $744 | +28.9% (change since December 2016)

Total Inventory

Total Inventory of one bedroom and studio condos in Burnaby BC in December 2017 (see graph below)

Burnaby East: 2 | -60.0% (change since December 2016)

Burnaby North: 3 | -81.3% (change since December 2016)

Burnaby South: 21 | +10.5% (change since December 2016)

New Listings

All New Listings of one bedroom and studio condos in Burnaby BC in December 2017 (see graph below)

Burnaby East: 1 | 0.0% (change since December 2016)

Burnaby North: 8 | +33.3% (change since December 2016)

Burnaby South: 25 | +127.3% (change since December 2016)

Sales

Total Sales of one bedroom and studio condos in Burnaby BC in December 2017 (see graph below)

Burnaby East: 1 | -50.0% (change since December 2016)

Burnaby North: 16 | +33.3% (change since December 2016)

Burnaby South: 29 | +314.3% (change since December 2016)

Sales to Actives Ratio

Sales to Active Listings Ratio for one bedroom and studio condos in Burnaby BC in December 2017 (see graph below)

Burnaby East: 0.500 | +25.0% (change since December 2016)

Burnaby North: 5.333 | +611.1% (change since December 2016)

Burnaby South: 1.381 | +275.3% (change since December 2016)

In conclusion, Burnaby condo market (1 bedroom) is still very “hot”. We see incredibly high sales to active listings ratio and overall low levels of available inventory. Great time to be a seller in Burnaby.

Let’s look at the detailed market update for detached housing market in Burnaby BC for December 2017. We will focus on detached housing market; condos and townhouses are not included.

• Also see “Vancouver Detached Housing Market Update – December 2017“

MLS Home Price Index

MLS Home Price Index of detached houses in Burnaby in December 2017 (see graph below)

Burnaby East: $1,293,300 | +11.0% (change since December 2016)

Burnaby North: $1,578,700 | +6.0% (change since December 2016)

Burnaby South: $1,680,500 | +3.6% (change since December 2016)

Average Sales Price

Average Sales Price for detached houses in Burnaby BC in December 2017 (see graph below)

Burnaby East: $1,701,032 | +26.3% (change since December 2016)

Burnaby North: $1,699,377 | +4.6% (change since December 2016)

Burnaby South: $1,686,692 | -0.9% (change since December 2016)

Average Percent of Original Price

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

Burnaby East: 94.5% | -1.2% (change since December 2016)

Burnaby North: 93.0% | +0.4% (change since December 2016)

Burnaby South: 93.3% | +0.4% (change since December 2016)

Total Inventory

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

Burnaby East: 67 | +42.6% (change since December 2016)

Burnaby North: 154 | +27.3% (change since December 2016)

Burnaby South: 173 | +8.8% (change since December 2016)

New Listings

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

Burnaby East: 10 | +42.9% (change since December 2016)

Burnaby North: 40 | +135.3% (change since December 2016)

Burnaby South: 30 | +20.0% (change since December 2016)

Sales

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

Burnaby East: 3 | -40.0% (change since December 2016)

Burnaby North: 26 | +36.8% (change since December 2016)

Burnaby South: 16 | -5.9% (change since December 2016)

Sales to Actives Ratio

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

Burnaby East: 0.045 | -57.5% (change since December 2016)

Burnaby North: 0.169 | +7.6% (change since December 2016)

Burnaby South: 0.092 | -14.0% (change since December 2016)

In conclusion, we have seen a drop in total sales, total inventory and new listings of detached houses in Burnaby in December 2017. It’s normal for these numbers to drop at the beginning of the winter season. Most of Burnaby neighbourhood are now buyer’s markets as we can see by the sales to active listings ratio.

Here is Downtown Vancouver condo market real estate update and breakdown for December 2017. Let’s look at 1 bedroom and studio condo units for the month of December. Go over statistics and overall state of the market.

Average Sales Price

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

Coal Harbour: $918,178 | +38.7% (change since December 2016)

Downtown VW: $693,389 | +12.5% (change since December 2016)

West End: $588,094 | +27.6% (change since December 2016)

Yaletown: $746,767 | +6.7% (change since December 2016)

Average Percent of Original Price

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

Coal Harbour: 98.4% | +2.1% (change since December 2016)

Downtown VW: 100.9% | +2.5% (change since December 2016)

West End: 100.3% | -0.8% (change since December 2016)

Yaletown: 101.2% | +4.1% (change since December 2016)

Average Price Per Square Foot

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

Coal Harbour: $1,369 | +34.1% (change since December 2016)

Downtown VW: $1,135 | +22.2% (change since December 2016)

West End: $945 | +25.7% (change since December 2016)

Yaletown: $1,178 | +17.8% (change since December 2016)

Total Inventory

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

Coal Harbour: 6 | -62.5% (change since December 2016)

Downtown VW: 40 | -66.7% (change since December 2016)

West End: 16 | -51.5% (change since December 2016)

Yaletown: 11 | -64.5% (change since December 2016)

New Listings

All New Listings of ONE bedroom condos in downtown Vancouver in December 2017 (see graph below)

Coal Harbour: 5 | 0.0% (change since December 2016)

Downtown VW: 26 | +36.8% (change since December 2016)

West End: 12 | +140.0% (change since December 2016)

Yaletown: 6 | -45.5% (change since December 2016)

Sales

Total Sales of ONE bedroom condos in downtown Vancouver in December 2017 (see graph below)

Coal Harbour: 5 | -37.5% (change since December 2016)

Downtown VW: 37 | -5.1% (change since December 2016)

West End: 20 | +42.9% (change since December 2016)

Yaletown: 15 | -11.8% (change since December 2016)

Sales to Actives Ratio

Sales to Active Listings Ratio of ONE bedroom condos in downtown Vancouver in December 2017 (see graph below)

Coal Harbour: 0.833 | +66.6% (change since December 2016)

Downtown VW: 0.925 | +184.6% (change since December 2016)

West End: 1.250 | +194.8% (change since December 2016)

Yaletown: 1.364 | +148.9% (change since December 2016)

In conclusion, Vancouver downtown condo market is still a very active sellers market. Inventory levels have dropped as compared to November. We see incredible sales to active listings ratio numbers. 1 bedroom and studio condo units in downtown are in huge demand.