Burnaby SFU area shifting towards more balanced conditions - July 2018 

The Burnaby mountain SFU condo and townhouse real estate market remained one of Burnaby’s strongest housing markets in July in a time of overall cooling. 

How do we know? List to Sales Ratio 

  • A buyer’s market has a 0-12% list to sales ratio
  • A balanced market has a 12-20% list to sales ratio
  • A seller’s market has a 21% or greater list to sales ratio

For Burnaby Mountain overall list to sales was 39%, a Seller’s market, with 28 listings and 11 sales. Upwards pressure on prices happens when in a Seller’s market for a period of 3 month’s or greater.  

The BIGGER picture 

Here’s the breakdown for condos and town homes in the city of Burnaby in July:

Overall a Seller’s market with a 22% list to sales ratioThe most active price range was for homes between $300K to $400K
Condos & townhomes are selling on average 1% below list price.

Buyer’s Best Bet: Homes between $900 to $1M, in Forest Glen and up to 3 bedroom properties

Seller’s Best Bet: Selling Homes in Sullivan Heights b& SFU and up to 1 bedroom properties.

Burnaby condo & townhome inventory has risen now for the 5 months straight, total sales declined for the 2nd month, & benchmark prices dipped slightly over April. 

Any Q's or more specific information needed on a particular neighbourhood please contact us. 

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