Burnaby Housing Market Update
East Burnaby, Government Road, Deer Lake, Capitol Hill BN, South Slope and all the sub-areas of Burnaby Real Estate Market Update Report.

Current:  Burnaby's Residential Detached housing market is in a Buyer Market with 5 %SOLD rate.
(This means 6 homes out of 100 sold last month  with an average $134,000  Discount  from  the original price) Lesson

Most Active Range: Homes below $1.3 mill. have 12.9 %SOLD rate
Least Active Range: Homes between $2 mill. - $2.5 mill. have a 2.5 %SOLD rate.

History: The Burnaby Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $94,343.
The Burnaby Home PriceIndexHPIp (Lower 50%) Year-To-Date shows that prices decreased $82,425.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.

Forecast: Burnaby has a normal Listing supply; 296 homes are for sale and with the 5 %SOLD monthly rate gives us a ~20 months of inventory. 22% of the active listings have reduced their price by $121,271 on average or $100,000 median. We project Burnaby to be a continued Buyer market.

January's Real Estate Statistics shows 69% of Vancouver's Detached Markets values experienced an Average Monthly Price decrease of $13,255 which more than last December's price drop of $11,497. On Average, the Fraser Valley Market shows a $3,389 monthly price decrease. Consumer confidence has been damped with the Volatile Stock Markets, tougher mortgage lending rules, and pending interest rate increases. We are forecasting a Buyer's Market across most Detached Markets for the following months.

Currently, the Condo Market presents a Cool Market with 77% of the Greater Vancouver (Lower Mainland) now decreasing. At the same time, 71% of Townhouse Markets are decreasing. (20 out of 28 Markets). Both Markets still indicate a Buyer's "Wait-To-Drop-More" behavior for the last 3 quarters. We are forecasting a Buyer’s Market in all Condo/Townhouse Markets for the foreseeable future. We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. Please contact us for your own Market Value Update with an in-depth Analysis and Forecast in your Local Market Area and more specifically - Your Neighborhood.

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  Vancouver and FV Market Reports and Forecasts

  Developers, Investors, Realtors or Financial Advisers.

• Now you can be informed of the market changes as they happen.
  • Now you can receive bi-monthly updates.=
     
• Each month we analyze the Real Estate Supply and Demand for 22 cities in the lower mainland: Vancouver to Chilliwack and we make the forecasts for the following month or more.

   Membership   Free,                 (Sponsored Realtors  Click here )

This is a free service to over 5 million viewers today!!! (