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.
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.