Community Series – Burnaby Holding

Burnaby

This is the second in the series of seven Vancouver real estate community snapshots.

It is Burnaby’s turn to shine.

This snapshot covers the periods of October 26, 2010 to November 26, 2010 and November 26, 2010 to December 26, 2010 and reflects an at the moment performance of detached properties in the Burnaby community.

Listings

Total Listings decreased from Oct/Nov’s 409 to Nov/Dec’s 362.

Sales

Expected with the Holiday season is the drop in sales. Oct/Nov recorded 93 units sold while Nov/Dec dropped by more than half recording 46 units sold.

Expired, Reductions, Increases, Days on Market

  • Oct/Nov saw 33 listing mandates expire which was matched in the Nov/Dec period.
  • Price reductions in Oct/Nov were 88 then slowed to 84 in Nov/Dec.
  • There were 7 price increases in Oct/Nov which increased by one to 8 in Nov/Dec.
  • Another aspect of the Holiday season is the time it takes to sell a home. Oct/Nov saw homes selling in 51 days which as the holidays approached increased to 65 days in Nov/Dec.

Average and Median Prices

  • Oct/Nov’s Average Ask price was $884,108. The magic of the Christmas season saw Average Ask Price jump to $922,352 in Nov/Dec.
  • The Median Ask price in Oct/Nov was $799,000. This also benefited from the magic as it increase to $814,950.
  • The Average Sold price in the Oct/Nov was $849,992. Sold prices increased a bit to $895,986.
  • The Median Sold price in Oct/Nov was $783,000. Nov/Dec saw a slight bump up to $796,500.

Stocking Stuffers

Except for the drop in sales which is a traditional event prices overall seem to be holding and may be a precursor to events in 2011. Sellers no doubt will be happy with these stocking stuffer prices.

Looking Back

The community series was started at the end of July of this year. It’s fun and perhaps informative to look back and see the path Vancouver’s Burnaby real estate market has traveled since that time and place.

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

When Life Moves You - contact Larry:

*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

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