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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

Sept 1, 2021

Current: Burnaby's Residential Detached housing market is in a Seller Market with 17 %SOLD rate.
(This means 17 homes out of 100 sold last month with an average $31,500 Discount from the original price) Lesson

Most Active Range: Homes below $1.5 mill. have 33.3 %SOLD rate
Least Active Range: Homes above $2.6 mill. have 10.3 %SOLD rate.

History: The Burnaby Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $382,000.
The Burnaby Home PriceIndexHPIp (Lower 50%) Year-To-Date shows that prices increased $251,001.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.

Forecast: Burnaby has a normal Listing supply; 242 homes are for sale and with the 17 %SOLD monthly rate gives us a ~5 months of inventory. 5% of the active listings have reduced their price by $88,927 on average or $50,200 median. We project Burnaby to be a continued Seller market.

The Real Estate bubble burst is over! The Vancouver Market just rebounded from the $17,304 drop in July to a $9,115 INCREASE in August. That is a 77% of Single-Family Home Markets just went up! Why did this turn around? Although the number of sales is normal, we now have the lowest listing inventory since 2011. This lack of listings is partially due to the covid infections/lockdowns resulting in many sellers putting plans on hold. Here in the Fraser Valley 89% of the home market increasing by an average of $29,258. This is the largest August price increase we've seen in the last 11years. This Strong Sellers’ market is a combination of high buyer demand and one of the lowest listing inventories since 2011. We are forecasting that the majority of the Metro Vancouver and Fraser Valley Markets will continue to be a Seller's Market in the coming months.

Currently, Condos are now in a Seller's Market with 63% of the Greater Vancouver (Lower Mainland) Condo Prices increasing $3,264 on average. On the other hand, 68% Townhouse Markets (16 out of 28) prices increased $5,149 on average. We analyze and provide 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.