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North Burnaby RE/MAX Reports Market Update

Hi , your free RE/MAX Market Share Reports Plus many Advanced Market Reports.

Question? Do you know when 's market will switch to a Buyers Market, in advance?

Bottom-line if you are not using our Advanced Market Reports you have lost 25% of your profits.

Our Advanced Reports and the Stats Boot Camp Course empower Agents to get shaper prices;higher sell-through rates and to be able to show their clients the actual market trends.

Many of these Advanced Reports will probably look like gibberish until you take a lesson. Once empowered with your own personalized reports, then you can really understand the market trends to protect your clients and make you more money. Standing by to help you :) Bill Coughlin 778-374-3744 eXp Realty

Now even Condominiums eked small gains in most communities this year!

Would like to to see the Condos Low & the Townhouse Changes too? Note: All of these Home Price Changes are complied from the most accurate VMR Home Price Index (paired) HPIp

, if you do not want any future RE/MAX Market Reports Please reply Remove Me and you will be sorely missed! :) Bill Coughlin

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Burnaby

Feb 1, 2021

Current: Burnaby's Residential Detached housing market is in a Seller Market with 18 %SOLD rate.
(This means 18 homes out of 100 sold last month with an average $22,000 Discount from the original price) Lesson

Most Active Range: Homes between $1.3 mill. - $1.45 mill. have 44.0 %SOLD rate
Least Active Range: Homes above $2.6 mill. have 4.4 %SOLD rate.

History: The Burnaby Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $201,613.
The Burnaby Home PriceIndexHPIp (Lower 50%) Year-To-Date shows that prices increased $106,092.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.

Forecast: Burnaby has a normal Listing supply; 182 homes are for sale and with the 18 %SOLD monthly rate gives us a ~6 months of inventory. 3% of the active listings have reduced their price by $150,183 on average or $81,000 median. We project Burnaby to be a continued Seller market.

January's Real Estate Statistics continue to show a highly emotional market. We have seen 100% of the Single-Family Homes in Metro Vancouver are in a Seller's Market. The Average Monthly Price is a whopping increase $52,706! This is the Second Highest January Price increase on record since 2016. At the same time, the Fraser Valley Detached Markets went up this month with many buyers competing in bidding wars. The Monthly Price jumped up $45,108 on average. This is the Highest January Price increase on record. This seller's market is partly due to the fact that we have Record-Low listing levels. We are forecasting that in the Metro Vancouver Markets will continue to be a Seller's Market for the coming month.

Currently, Condos are in a more subdued Seller's Market with 60% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. The average monthly price increase was a mere $4,969. At the same time, 27 out of 28 Townhouse Markets increased an average of $16,662. We analyze and provides 97 individual City's Home Price Indexes to supply you with the MOST ACCURATE Market Trends every Saturday. 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.