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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

Mar 1, 2021

Current: Burnaby's Residential Detached housing market is in a Seller Market with 28 %SOLD rate.
(This means 28 homes out of 100 sold last month with an average $12,250 Discount from the original price) Lesson

Most Active Range: Homes below $1.3 mill. have 72.7 %SOLD rate
Least Active Range: Homes above $2.6 mill. have 9.1 %SOLD rate.

History: The Burnaby Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $276,256.
The Burnaby Home PriceIndexHPIp (Lower 50%) Year-To-Date shows that prices increased $185,561.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.

Forecast: Burnaby has a normal Listing supply; 185 homes are for sale and with the 28 %SOLD monthly rate gives us a ~4 months of inventory. 8% of the active listings have reduced their price by $177,929 on average or $181,000 median. We project Burnaby to be a continued Seller market.

March's Real Estate Statistics show that we are still in the highly emotional "Gold Fever"market. We have seen 100% of the Single-Family Homes in Metro Vancouver go up this month with most buyers competing in bidding wars. The Average Monthly Price increase is a whopping $84,263! This is the Highest Price increase on record since 2016. ON the other hand, 100% of Fraser Valley Detached Markets went up this month with a whopping $60,306 monthly price changes on average. This seller's market is partly due to the fact that we have Low listing levels. We are forecasting that in the Metro Vancouver Markets will continue to be a Strong Seller's Market for the coming month.

Currently, Condos are in a more subdued Seller's Market with 100% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. The average monthly price increase was a $17,534. At the same time, all Townhouse Markets increased an average of $37,065. 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.