Although property here may seem like a screaming deal when seen through Vancouver eyes, half a million doesn’t go as far as it used to in Montreal.
Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in November 2019.
Burnaby East had 11 sales and 42 active listings for detached homes at the end of the month. The benchmark sales price was $1,159,600.
The condo market featured 13 sales, 40 active listings, and a benchmark sales price was $718,100.
The townhome market had 8 sales and 27 active listings. The benchmark sale price was $658,700.
It’s a seller’s market in Burnaby East.
In September, Burnaby North market had 27 sales and 147 active listings for detached homes. The benchmark sale price was $1,380,700.
There were 86 sales and 201 active listings for condos. The benchmark sale price was $595,900.
The townhome market had 14 sales and 58 active listings. The benchmark sale price was $728,500.
It’s a seller’s market for condos in Burnaby North.
In Burnaby South, there were 40 sales of detached homes and 170 active listings at the end of the month. The benchmark sale price was $1,486,200.
In comparison, the condo market had 110 sales, 319 active listings and a benchmark sale price of $647,300.
The townhome market had 14 sales and 64 active listings. The benchmark sale price was $769,600.
It’s a seller’s market for condos in Burnaby South.
Looking for more information about the real estate market in specific neighbourhoods in the Greater Vancouver?
MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.
This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgv.org