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.
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.