n February, home sales on Burnaby Mountain saw a month-to-month increase.
After a slow start in January, market activity picked up last month, leading to more sales and a more balanced market.
As a result of the increased sales, condo prices rose by 3%, while townhouse prices dropped by 1.3% compared to January.
Here’s how prices compare to the same time last year:
▶️ Condos are down 3%, while townhouses are down 2%.
February sales were up by 57%, and inventory grew by 4% compared to January.
▶️ While inventory is still lower than in previous months, it's higher than it was throughout 2022-2023.
▶️ On average, homes sold for 97.9% of their list price and took 17 days to sell.
With a 14% list-to-sale ratio, the SFU housing market has officially shifted into a “Balanced Market.”
Curious about how U.S. tariffs may impact our real estate market? Visit our blog for more insights.
If you're thinking of buying or selling in the SFU area, Dean Wegman is your local mountain expert! Contact us today to get started.
#burnaby #burnabybc #burnabymountain #univercity #sfu #sfuburnaby #burnabyrealestate
After a slow start in January, market activity picked up last month, leading to more sales and a more balanced market.
As a result of the increased sales, condo prices rose by 3%, while townhouse prices dropped by 1.3% compared to January.
Here’s how prices compare to the same time last year:
▶️ Condos are down 3%, while townhouses are down 2%.
February sales were up by 57%, and inventory grew by 4% compared to January.
▶️ While inventory is still lower than in previous months, it's higher than it was throughout 2022-2023.
▶️ On average, homes sold for 97.9% of their list price and took 17 days to sell.
With a 14% list-to-sale ratio, the SFU housing market has officially shifted into a “Balanced Market.”
Curious about how U.S. tariffs may impact our real estate market? Visit our blog for more insights.
If you're thinking of buying or selling in the SFU area, Dean Wegman is your local mountain expert! Contact us today to get started.
#burnaby #burnabybc #burnabymountain #univercity #sfu #sfuburnaby #burnabyrealestate