Here is a real estate update of Burnaby housing market for June 2017. We will look at detached market only. Condos and townhouses have their own market update in a separate blog post. We will only look at resale homes (no new construction).
Average Sales Price
Average Sales Price of detached house in Burnaby in June 2017 (see graph below)
Burnaby East: $1,634,000 | +12.6% (change since June 2016)
Burnaby North: $1,737,458 | -3.6% (change since June 2016)
Burnaby South: $1,846,264 | +4.6% (change since June 2016)
Average Percent of Original Asking Price
Average Percent of Original Price of houses in Burnaby in June 2017 (see graph below)
Burnaby East: 99.6% | -3.2% (change since June 2016)
Burnaby North: 97.3% | -3.4% (change since June 2016)
Burnaby South: 98.8% | -5.4% (change since June 2016)
Total Inventory
Total inventory of detached houses in Burnaby in June 2017 (see graph below)
Burnaby East: 58 | 0.0% (change since June 2016)
Burnaby North: 177 | +13.5% (change since June 2016)
Burnaby South: 224 | +15.5% (change since June 2016)
New Listings
Total number of New Listings of detached houses in Burnaby in June 2017 (see graph below)
Burnaby East: 28 | -15.2% (change since June 2016)
Burnaby North: 101 | +6.3% (change since June 2016)
Burnaby South: 107 | 0.0% (change since June 2016)
Sales
Total Sales of detached houses in Burnaby in June 2017 (see graph below)
Burnaby East: 9 | -55.0% (change since June 2016)
Burnaby North: 43 | -8.5% (change since June 2016)
Burnaby South: 46 | -8.0% (change since June 2016)
Sales to Active Listings Ratio
Sales to Active Listings Ratio of detached houses in Burnaby in June 2017 (see graph below)
Burnaby East: 0.155 | -55.1% (change since June 2016)
Burnaby North: 0.243 | -19.3% (change since June 2016)
Burnaby South: 0.205 | -20.5% (change since June 2016)
In conclusion, Burnaby detached housing market is a little slower than it was at this time last year. Average sale price prices remain strong. Average sale price of detached houses in Burnaby East is at it’s all time high. We see healthy inventory levels in all the Burnaby areas. Total number of sales is about the same as June 2016. Based on the Sales to Active Listings Ration all three Burnaby areas are in a balanced market with a slight favourability of sellers.