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.
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.