The Burnaby Mountain real estate market saw increased activity in February, particularly in the condo segment. A total of 13 condos and 1 townhouse sold during the month, representing stronger sales compared with January.
Inventory also tightened during the month, with 59 condos and 7 townhouses currently available for sale, down from the previous month.
One of the more notable changes was in pricing. The benchmark price for condos declined from $586,500 in January to $568,300 in February, while the townhouse benchmark price remained relatively stable at $819,900.
With sales increasing and inventory declining, the market may begin to tighten if buyer demand continues to grow as we move into the spring market.