Burnaby Homes Duke it Out

Burnaby Community CheckUp

YatterMatters’ Vancouver detached homes community checkup sets its sight on Burnaby. For many, this view of the current Burnaby detached real estate market, may prove as exciting as the 1912 visit by the Duke of Connaught, Canada’s Governor General from 1911 to 1942.

Ninety nine years after the Duke’s visit this checkup is for the period of July 24, 2011 to September 23, 2011 and sadly there will not be a Guard of Honour nor will the Duke’s Own Rifles be standing at salute.

Listings

Total Listings decreased from Jul/Aug’s 583 to 531 in Aug/Sept.

Sales

It’s doubtful that a present day visit from the Duke would have helped Burnaby detached sales as they dropped by more than half from Jul/Aug’s 95 to Aug/Sept’s 40.

Expired – Days on Market

  • Expired listings mandates in Jul/Aug totaled 28 but increased to 31 in Aug/Sept.
  • In Jul/Aug it took 26 days to sell a home. In Aug/Sept that number extended to 32.

Average and Median Prices

  • Jul/Aug’s Average Ask price was $1,026,011. The decreased number of sales didn’t stop anxious sellers from increasing their asking prices as they increased to 1,047,232 in Aug/Sept.
  • The Median Sold Asking price also saw a rise from Jul/Aug’s $899,900 to Aug/Sept’s 924,400.
  • For some, their anxiety squeaked a pay off as the Average Sold price of $1,004,272 in the Jul/Aug increased in Aug/Sept to $1,025,764.
  • The Median Sold price in followed along as we saw Jul/Aug’s $909,000 get a little boost with Aug/Sept’s bump to $925,500

99 Years

The Duke’s arrival in Burnaby was by way of the BC Electric Railroad car #1304. Tarted up, it was made fit for a king and befit the use by his highness. An event to behold, crowds gathered to witness his arrival.

Though sold prices continue to attract ‘princely’ sums it is with a view to the drastic sales drop where hope lies waiting for the market to beckon crowds who one day will gather again and buy Burnaby detached real estate. Hopefully, it won’t take 99 years!

Image Credit

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.

Reader Comments:

chibidani Says:
September 26th, 2011 at 2:22 pm

Larry

Thanks for these numbers. They certainly help put things in perspective.

Any chance of a New Westminster feature?

September 26th, 2011 at 2:47 pm

@chibidani
Due to limited time and travel distance, the majority of my work centers on the east and west side of Vancouver. I provide the Community CheckUps only because I think it is good to have a greater sense of what is going on outside of my work centric. Although things change I would tell you without the intent of offending, that adding another community such as New Westminster, is unlikely.

chibidani Says:
September 26th, 2011 at 4:05 pm

I understand. But, it can’t hurt to ask 😉

September 26th, 2011 at 4:30 pm

@chibidani
no harm no foul 🙂

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