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Westcoast Condominium
Burnaby selling prices softened somewhat last month in comparison to November 2015, but don’t let that blip fool you. Prices over the longer term are up, including the percentage change over the past three months: 7.7 per cent in Burnaby East; 3.7 per cent in Burnaby North; and three per cent in Burnaby South.
Listing activity also took a significant tumble (close to 40 per cent) in December over November as owners took time off to enjoy the holiday season. There were, however, considerably more condo listings in Burnaby in December 2015 than December 2014: 141 versus 94. Sales softened somewhat in December compared with November. The 212 transactions in December were almost six per cent lower than the 225 sales in November. However, sales in December 2015 were almost double those in December 2014: 212 compared with 111.
Forest Glen
This South Burnaby neighbourhood runs parallel with Kingsway and is within close walking distance of all the amenities of Metrotown. The area’s 24 active condo listings include several in the move-in ready Sovereign tower. This complex sold out within hours of units going on the market and some investors are now looking to cash in. Six Sovereign suites are available ranging from $332,000 for a studio to $1.28 million for a three-bedroom home. Like many other buildings in this area, the Sovereign condos have unbelievable views.
List prices in Forest Glen are often right on the money. A one-bedroom in the Marlborough Place complex spent just over a month on the market before its owners accepted an offer $1,000 under their $275,000 asking price.
Vancouver Heights
The Heights, as locals fondly refer to it, is a tightly knit community in North Burnaby that loves a good party (think Hats Off Day, Giro di Burnaby and Light Up The Heights). There are not a lot of condo buildings in this neighbourhood, with only five active listings. You can call the area home for a low of $319,900, which will buy you a two-bedroom in a trouble-free 32-year-old Bosa tower within steps of Boundary and Hastings. Or if your budget can stretch to $638,800, check out the two-bedroom on offer in the nearby 22-year-old Carleton Place complex.
If one recent sale in the neighbourhood is anything to go by, list prices here are a little high. A one-bedroom home in the Bosa building mentioned earlier sold in late December for three per cent under asking with the owner accepting an offer of $260,000.
Burnaby Condo Market Snapshot
