QUICK LINK TO MY LISTINGS

Geoff Jarman Personal Real Estate Corporation

Your LOCAL BURNABY REAL ESTATE AGENT!

(604) 313-7280

CONDO MARKET is HOT while the Detached Housing Demand is at Typical Market Levels 

Demand for condominiums continues to outstrip supply

Download the June 2017 Stats Package


Message from the Real Estate Board of Greater Vancouver, July 5, 2017 


The imbalance between supply and demand in the condominium market is creating home buyer competition across Metro Vancouver.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,893 in June 2017, an 11.5 per cent decrease from the 4,400 sales recorded in June 2016, an all-time record, and a decrease of 10.8 per cent compared to May 2017 when 4,364 homes sold.

Last month’s sales were 14.5 per cent above the 10-year June sales average.

“Two distinct markets have emerged this summer. The detached home market has seen demand ease back to more typical levels while competition for condominiums is creating multiple offer scenarios and putting upward pressure on prices for that property type,” Jill Oudil, REBGV president said.

There were 5,721 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2017. This represents a 2.6 per cent decrease compared to the 5,875 homes listed in June 2016 and a 5.3 per cent decrease compared to May 2017 when 6,044 homes were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 8,515, a nine per cent increase compared to June 2016 (7,812) and a 4.2 per cent increase compared to May 2017 (8,168).

“Home buyers have more selection to choose from in the detached market today while condominium listings are near an all-time low on the MLS®,” Oudil said. “Detached home listings have increased every month this year, while the number of condominiums for sale has decreased each month since February.”

For all property types, the sales-to-active listings ratio for June 2017 is 45.7 per cent. By property type, the ratio is 24.5 per cent for detached homes, 62 per cent for townhomes, and 93.2 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“Market conditions will vary today depending on area and property type,” Oudil said. “It’s important to work with your local REALTOR® to help you understand the trends that are occurring in your community.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $998,700. This represents a 7.9 per cent increase over June 2016 and a 1.8 per cent increase compared to May 2017.

Sales of detached properties in June 2017 reached 1,320, a decrease of 15.5 per cent from the 1,562 detached sales recorded in June 2016. The benchmark price for detached properties is $1,587,900. This represents a 1.4 per cent increase from June 2016 and a 1.1 per cent increase compared to May 2017.

Sales of apartment properties reached 1,905 in June 2017, a decrease of 9.6 per cent compared to the 2,108 sales in June 2016. The benchmark price of an apartment property is $600,700. This represents a 17.6 per cent increase from June 2016 and a 2.9 per cent increase compared to May 2017.

Attached property sales in June 2017 totalled 668, a decrease of 8.5 per cent compared to the 730 sales in June 2016. The benchmark price of an attached unit is $745,700. This represents a 10.7 per cent increase from June 2016 and a 0.6 per cent increase compared to May 2017


Read full post
Categories:   1/2 acre | 16512 109 A Ave Surrey | 2017 Real Estate SUMMARY | 2018 Market conditions | 5000 Sq ft home | Ambleside, West Vancouver Real Estate | Annieville, N. Delta Real Estate | April Market condition in Vancouver | August 2018 Market Trends for Metro Vancouver | Big Bend, Burnaby South Real Estate | Brentwood Park, Burnaby North Real Estate | Brighouse South, Richmond Real Estate | Buckingham Heights | Buckingham Heights, Burnaby South Real Estate | Burnaby | Burnaby Hospital, Burnaby South Real Estate | Burnaby Lake, Burnaby South Real Estate | Burnaby Real Estate | Burnaby, | Buyer's Market | Cape Horn, Coquitlam Real Estate | Capitol Hill BN, Burnaby North Real Estate | Cariboo, Burnaby North Real Estate | Central BN, Burnaby North Real Estate | Central Coquitlam, Coquitlam Real Estate | Central Meadows, Pitt Meadows Real Estate | Central Park BS, Burnaby South Real Estate | Champlain Heights, Vancouver East Real Estate | Cloverdale BC, Cloverdale Real Estate | Coal Harbour, Vancouver West Real Estate | College Park PM, Port Moody Real Estate | Collingwood VE, Vancouver East Real Estate | Coming on the market soon | Coming on the market soon! | Coming on the Market soon, | Coming on the Market soon. | Condo Market HOT in Greater Vancouver | Condo Market in Vancouver | Coquitlam West, Coquitlam Real Estate | Crescent Bch Ocean Pk., South Surrey White Rock Real Estate | Cypress Mountain | Dec. 2017 Real Estate Market Trends | Deer Lake | Deer Lake Burnaby | Deer Lake Park and Trails | Deer Lake Place, Burnaby South Real Estate | Deer Lake, Buckingham | Deer Lake, Burnaby South Real Estate | Delbrook, North Vancouver Real Estate | Dog friendly | Downtown VW, Vancouver West Real Estate | Dunbar, Vancouver West Real Estate | East Burnaby, Burnaby East Real Estate | East Central, Maple Ridge Real Estate | Easy walks | Economy | Edmonds BE, Burnaby East Real Estate | education, business, success | Elgin Chantrell, South Surrey White Rock Real Estate | Fairview VW, Vancouver West Real Estate | False Creek North, Vancouver West Real Estate | False Creek, Vancouver West Real Estate | Forest Glen BS, Burnaby South Real Estate | Forest Hills BN, Burnaby North Real Estate | Fraser Heights | Fraser Heights, North Surrey Real Estate | Fraserview NW, New Westminster Real Estate | Fraserview VE, Vancouver East Real Estate | Full February 2018 Statistics package from the Real Estate Board of Greater Vancouver | Furry Creek, West Vancouver Real Estate | Garden Village, Burnaby South Real Estate | GlenBrooke North, New Westminster Real Estate | Glenwood PQ, Port Coquitlam Real Estate | Government Road, Burnaby North Real Estate | Greater Vancouver Housing Market Update June 2017 | Greater Vancouver Market Trends | Greater Vancouver Market update Jan 2017. | Greentree Village, Burnaby South Real Estate | Grouse Mountain | Guildford, North Surrey Real Estate | Heritage Mountain, Port Moody Real Estate | Highgate, Burnaby South Real Estate | holiday greeting | home | Home Safety | Home Safety, Electrical Safety, Fire Prevention | Home, Electrical Safety | Housing Conditions | Housing Market Update | Housing Stats for Greater Vancouver Jan 2017 | Housing Stats for Greater Vancouver May 2017 | Indian River, North Vancouver Real Estate | Investment Resale Property | Jan 2018 Market Trends in Greater Vancouver , | January 2019 Housing Market Trends | July | June 2018 Market Trends for Metro Vancouver | Killarney VE, Vancouver East Real Estate | Kitsilano, Vancouver West Real Estate | Knight, Vancouver East Real Estate | lake view | Langley City, Langley Real Estate | Lower Deer Lake | Lower Lonsdale, North Vancouver Real Estate | Luxury Housing | Main, Vancouver East Real Estate | March Market Trends | Market slows down 2018 | Market Trends | MARKET TRENDS FOR GREATER VANCOUVER | Market Update April 2017, Spring Housing Market Conditions, Condos, Homes, | Market Update February 2017 | Market Update February 2018 | May 2018 Housing Market Trends for Vancouver and the Metro area | Metrotown, Burnaby South Real Estate | Mid Meadows, Pitt Meadows Real Estate | Middlegate BS, Burnaby South Real Estate | Montecito, Burnaby North Real Estate | Moody Park, New Westminster Real Estate | Morgan Creek, South Surrey White Rock Real Estate | Mortgage Update | Mount Pleasant VE, Vancouver East Real Estate | Mount Pleasant VW, Vancouver West Real Estate | mountains | New Horizons, Coquitlam Real Estate | North Burnaby | North Shore Pt Moody, Port Moody Real Estate | Northwest Maple Ridge, Maple Ridge Real Estate | Nov 2018 Market update | November 2017 Real Estate market trends | Oakdale, Burnaby North Real Estate | Oaklands, Burnaby South Real Estate | October 2017 | October 2018 market update | Open House | Oxford Heights, Port Coquitlam Real Estate | Parkcrest, Burnaby North Real Estate | Pebble Hill, Tsawwassen Real Estate | Port Moody Centre, Port Moody Real Estate | Presale Information Vancouver | Presale market Vancouver, Condo and townhouses Pre-Sales | Quay, New Westminster Real Estate | Queen Mary Park Surrey, Surrey Real Estate | Queensborough, New Westminster Real Estate | Quiet | Real Estate Board of Greater Vancouver News Release Dec 2, 2016 | Real Estate Greater Vancouver | Real Estate Market report for July 2017 | Real Estate Market report for July 2018 | Real estate of Greater Vancouver | Real Estate Vancouver | Renfrew Heights, Vancouver East Real Estate | Renfrew VE, Vancouver East Real Estate | Riverdale RI, Richmond Real Estate | Riverwood, Port Coquitlam Real Estate | Sales trends in Vancouver BC | Sardis East Vedder Rd, Sardis Real Estate | September 2017 Market Update | September 2018 Market Update | Sierra Ridge Townhouses | Simon Fraser Hills, Burnaby North Real Estate | Simon Fraser Univer., Burnaby North Real Estate | South Burnaby | South Slope, Burnaby South Real Estate | Sperling-Duthie, Burnaby North Real Estate | Sullivan Heights, Burnaby North Real Estate | Suncrest, Burnaby South Real Estate | The Crest | The Crest, Burnaby East Real Estate | The Heights NW, New Westminster Real Estate | Tsawwassen Central, Tsawwassen Real Estate | Upper Deer Lake | Upper Deer Lake, Burnaby South Real Estate | Upper Lonsdale, North Vancouver Real Estate | Uptown NW, New Westminster Real Estate | Vancouver Market Report Nov 2016, Changing Market Conditions In Vancouver | Vancouver Market Trends | Vancouver Real Estate | Vancouver Real Estate Market update | Vancouver Symphony at Deer Lake Park | Vedder S Watson-Promontory, Sardis Real Estate | VIEW PROPERTY | water | West Central, Maple Ridge Real Estate | West End VW, Vancouver West Real Estate | Westwood Plateau, Coquitlam Real Estate | Whalley, North Surrey Real Estate | White Rock, South Surrey White Rock Real Estate | Willingdon Heights, Burnaby North Real Estate | Woodland Acres PQ, Port Coquitlam Real Estate | Yaletown, Vancouver West Real Estate | Yoga

Burnaby's 2011 SALES TREND IN REVIEW

January 2012

GEOFF JARMAN Personal Real Estate Corporation
Cell:(604) 313-7280
Office:(604) 415-9800
Fax:(604) 777-5099
Email:info@jarmanrealestate.com
Sutton Grp-West Coast Realty
#102 - 403 North Road
Coquitlam, B.C.
V3K 3V9 Canada
Mobile Web App
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.