Burnaby mountain condos selling on average 3% above list price in May

 The Burnaby mountain SFU condo and townhouse real estate market remained one of the best neighbourhoods in Burnaby to be selling. The overall list to sales ratio was 80%, with 20 listings and 16 sales, which means upwards pressure on prices for most homes.  

Here’s the breakdown for condos and town homes in Burnaby  in May:

Overall Burnaby is in a Seller’s market with a 48% list to sales ratioThe most active price range was for homes between $600K to $700KCondos & townhomes are selling on average 3% above list price.

Buyer’s Best Bet: Homes between $1M to $1.25M, in Vancouver Heights  and up to 3 bedroom properties

Seller’s Best Bet: Selling Homes in SFU, Gov’t Road, and Sullivan Heights  and up to 1 bedroom properties.

Burnaby condo & townhome inventory has risen now for the 6th month straight, and total sales & benchmark prices rose slightly over April. 

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*Buyer’s Market 1-11%, Balanced Market 12-20%, Seller’s Market 21% and up.

All stats derived from Dean Wegman & SnapStats.