Month: February 2018

Home Price Index

Home price index for one bedroom and studio condo units in Burnaby in January 2018 (see graph below)

Burnaby East: $476,000 | +27.1% (change since January 2017)

Burnaby North: $480,863 | +43.6% (change since January 2017)

Burnaby South: $481,269 | +23.1% (change since January 2017)

Average Sales Price

Average Sales Price of one bedroom and studio condos in Burnaby in January 2018 (see graph below)

Burnaby East: $571,000 | +43.2% (change since January 2017)

Burnaby North: $481,909 | +35.4% (change since January 2017)

Burnaby South: $595,413 | +41.6% (change since January 2017)

Average Percent of Original Price

Average percent of original asking price of one bedroom and studio condos in Burnaby in January 2018 (see graph below)

Burnaby East: 100.4% | +1.1% (change since January 2017)

Burnaby North: 108.4% | +9.7% (change since January 2017)

Burnaby South: 101.5% | +1.8% (change since January 2017)

Average Price Per Square Foot

Average price per square foot of one bedroom and studio condos in Burnaby in January 2018 (see graph below)

Burnaby East: $853 | +47.1% (change since January 2017)

Burnaby North: $756 | +42.1% (change since January 2017)

Burnaby South: $896 | +26.9% (change since January 2017)

Total Inventory

Total Inventory of one bedroom and studio condos in Burnaby in January 2018 (see graph below)

Burnaby East: 4 | +300.0% (change since January 2017)

Burnaby North: 14 | -44.0% (change since January 2017)

Burnaby South: 31 | +14.8% (change since January 2017)

New Listings

All new listings of one bedroom and studio condos in Burnaby in January 2018 (see graph below)

Burnaby East: 6 | +500.0% (change since January 2017)

Burnaby North: 23 | 0.0% (change since January 2017)

Burnaby South: 29 | +52.6% (change since January 2017)

Sales

Total sales of one bedroom and studio condos in Burnaby in January 2018 (see graph below)

Burnaby East: 3 | 0.0% (change since January 2017)

Burnaby North: 11 | 0.0% (change since January 2017)

Burnaby South: 18 | +80.0% (change since January 2017)

Sales to Actives Ratio

Sales to active listings ratio of one bedroom and studio condos in Burnaby in January 2018 (see graph below)

Burnaby East: 0.750 | -75.0% (change since January 2017)

Burnaby North: 0.786 | +78.6% (change since January 2017)

Burnaby South: 0.581 | +57.0% (change since January 2017)

In conclusion, inventory is low and the demand is high for 1 bedroom and studio units in Burnaby BC. It’s a very strong sellers market with record breaking prices and record breaking demand.

A detailed update of the detached housing market in Burnaby BC in January 2018. All graphs go back unto 3 years. All statistics have been pulled from the Real Estate Board of Greater Vancouver.

MLS Home Price Index

MLS Home Price Index for the detached houses in Burnaby in January 2018 (see graph below)

Burnaby East: $1,266,900 | +10.1% (change since January 2017)

Burnaby North: $1,567,900 | +5.9% (change since January 2017)

Burnaby South: $1,668,000 | +2.0% (change since January 2017)

Average Sales Price

Average Sales Price of the detached houses in Burnaby in January 2018 (see graph below)

Burnaby East: $1,663,521 | +35.9% (change since January 2017)

Burnaby North: $1,802,218 | +7.2% (change since January 2017)

Burnaby South: $1,821,165 | +21.4% (change since January 2017)

Average Percent of Original Price

Average Percent of Original Asking Price of the detached houses in Burnaby in January 2018 (see graph below)

Burnaby East: 92.5% | -1.9% (change since January 2017)

Burnaby North: 96.8% | +5.0% (change since January 2017)

Burnaby South: 94.8% | +7.5% (change since January 2017)

Total Inventory

Total Inventory of the detached houses in Burnaby in January 2018 (see graph below)

Burnaby East: 68 | +58.1% (change since January 2017)

Burnaby North: 164 | +6.5% (change since January 2017)

Burnaby South: 180 | -6.7% (change since January 2017)

New Listings

All new listings of the detached houses in Burnaby in January 2018 (see graph below)

Burnaby East: 26 | +160.0% (change since January 2017)

Burnaby North: 70 | -5.4% (change since January 2017)

Burnaby South: 69 | -25.0% (change since January 2017)

Sales

Total Sales of the detached houses in Burnaby in January 2018 (see graph below)

Burnaby East: 10 | +66.7% (change since January 2017)

Burnaby North: 18 | +28.6% (change since January 2017)

Burnaby South: 29 | +52.6% (change since January 2017)

Sales to Actives Ratio

Sales to active listings ratio for the detached houses in Burnaby in January 2018 (see graph below)

Burnaby East: 0.147 | +5.0% (change since January 2017)

Burnaby North: 0.110 | +20.9% (change since January 2017)

Burnaby South: 0.161 | +64.3% (change since January 2017)

In conclusion, there isn’t much change in the detached housing market from the previous couple of months. The market remains balanced.

Real estate market update for the detached housing market in Vancouver BC in January 2018. All statistics have been taken from the Real Estate Board of Greater Vancouver.

MLS Home Price Index

MLS Home Price Index of detached houses in Vancouver BC in January 2018 (see graph below)

Vancouver East: $1,564,000 | +8.6% (change since January 2017)

Vancouver West: $3,548,400 | +3.8% (change since January 2017)

Average Sales Price

Average sales price of detached houses in Vancouver BC in January 2018 (see graph below)

Vancouver East: $1,664,333 | +19.1% (change since January 2017)

Vancouver West: $3,905,627 | +14.6% (change since January 2017)

Average Percent of Original Price

Average percent of original asking price for the detached houses in Vancouver BC in January 2018 (see graph below)

Vancouver East: 96.1% | -0.3% (change since January 2017)

Vancouver West: 91.4% | -4.0% (change since January 2017)

Total Inventory

Total Inventory of the detached houses in Vancouver BC in January 2018 (see graph below)

Vancouver East: 626 | -4.9% (change since January 2017)

Vancouver West: 674 | +8.9% (change since January 2017)

New Listings

All new listings of the detached houses in Vancouver BC in January 2018 (see graph below)

Vancouver East: 176 | -18.1% (change since January 2017)

Vancouver West: 269 | -12.7% (change since January 2017)

Total Sales

All sales of the detached houses in Vancouver BC in January 2018 (see graph below)

Vancouver East: 45 | -11.8% (change since January 2017)

Vancouver West: 46 | +24.3% (change since January 2017)

Sales to Actives Ratio

Sales to active listings ratio of the detached houses in Vancouver BC in January 2018 (see graph below)

Vancouver East: 0.072 | -7.7% (change since January 2017)

Vancouver West: 0.068 | +13.3% (change since January 2017)

In conclusion, detached housing market in Vancouver East and Vancouver West are seller markets. Prices remained without a change for the last few months. Historically January is a slow month in real estate and we this January was no exception. It will be interesting to see what effect (if any) new mortgage regulations have on the detached housing market.

Real estate market update for 1 bedroom and studio condo units in downtown Vancouver for January 2018.

Home Price Index

Home Price Index for one bedroom and studio condo units in downtown Vancouver in January 2018 (see graph below)

Coal Harbour: $1,053,200 | +19.3% (change since January 2017)

Downtown VW: $730,300 | +26.2% (change since December 2017)

West End: $646,800 | +16.4% (change since December 2017)

Yaletown: $880,900 | +19.5% (change since December 2017)

Average Sales Price

Average Sales Price of one bedroom and studio condo units in downtown Vancouver in January 2018 (see graph below)

Coal Harbour: $685,000 | -5.7% (change since January 2017)

Downtown VW: $709,914 | +23.6% (change since January 2017)

West End: $615,000 | +34.3% (change since January 2017)

Yaletown: $849,269 | +50.3% (change since January 2017)

Average Percent of Original Price

Average Percent of Original Asking Price of one bedroom and studio condo units in downtown Vancouver in January 2018 (see graph below)

Coal Harbour: 100.3% | +4.7% (change since January 2017)

Downtown VW: 102.8% | +3.5% (change since January 2017)

West End: 100.9% | +1.6% (change since January 2017)

Yaletown: 101.6% | +1.5% (change since January 2017)

Average Price Per Square Foot

Average Price per Square Foot of one bedroom and studio condo units in downtown Vancouver in January 2018 (see graph below)

Coal Harbour: $1,204 | +10.2% (change since January 2017)

Downtown VW: $1,186 | +29.6% (change since January 2017)

West End: $927 | +22.5% (change since January 2017)

Yaletown: $1,226 | +17.5% (change since January 2017)

Total Inventory

Total Inventory of one bedroom and studio condo units in downtown Vancouver in January 2018 (see graph below)

Coal Harbour: $1,204 | +10.2% (change since January 2017)

Downtown VW: $1,186 | +29.6% (change since January 2017)

West End: $927 | +22.5% (change since January 2017)

Yaletown: $1,226 | +17.5% (change since January 2017)

New Listings

New Listings of one bedroom and studio condo units in downtown Vancouver in January 2018 (see graph below)

Coal Harbour: 13 | +44.4% (change since January 2017)

Downtown VW: 49 | -25.8% (change since January 2017)

West End: 13 | -31.6% (change since January 2017)

Yaletown: 22 | -33.3% (change since January 2017)

Sales

Total Sales of one bedroom and studio condo units in downtown Vancouver in January 2018 (see graph below)

Coal Harbour: 2 | -71.4% (change since January 2017)

Downtown VW: 29 | +16.0% (change since January 2017)

West End: 7 | -41.7% (change since January 2017)

Yaletown: 13 | -27.8% (change since January 2017)

Sales to Actives Ratio

Sales to Active Listings Ratio of one bedroom and studio condo units in downtown Vancouver in January 2018 (see graph below)

Coal Harbour: 0.133 | -71.5% (change since January 2017)

Downtown VW: 0.580 | +233.3% (change since January 2017)

West End: 0.333 | -11.2% (change since January 2017)

Yaletown: 0.684 | +36.8% (change since January 2017)

In conclusion, downtown condo market is very active in the first month of 2018. We se a drop in sales to active listings ratio as compared to previous months but I think that number will go up in the near future. Price per square foot has reached a new level with average price per square foot in Yaletown over $1,200.