Burnaby Mountain SFU neighbourhood one of best to sell in during August

In August the Burnaby Mountain SFU condo and townhouse real estate was one of the best neighbourhoods to be selling a condo or townhome in Burnaby.  The overall trend of a cooling market is slowing things down but for the moment it remains a Seller’s market.

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 SFU the overall list to sales was 31% (down from 39%), with 32 listings and 10 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 August:
Overall a Seller’s market with a 25%, list to sales ratio  (up from 22%)The most active price range was for homes between $300K to $400KCondos & townhomes are selling on average 1% below list price.Buyer’s Best Bet: Homes between $1.25M to $1.5M, in Forest Glen, Vancouver Heights, and up to 2 bedroom propertiesSeller’s Best Bet: Selling Homes in SFU, South Slope and up to 1 bedroom properties.

Burnaby condo & townhome inventory decreased by 1% in August after 5 months of increases, total sales increased by 9% after 3 months of decreases, & benchmark prices dipped by 2%. 

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

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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.