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Westcoast Condomoinium
If you’re one of many older couples looking to trade in your single-detached home for a condo in Burnaby, you have lots of choice. There are 237 two-bedroom homes to select from ranging in price from $213,800 for a 794-square-foot choice in the Upper Deer Lake community to $1.59 million for a spacious 1,400-square-foot-option in Metrotown.
Listings have softened somewhat since our last reporting period, with a couple dozen less choices than previously. The median days on the market is also dropping slightly… a sure sign that properties that are priced right are being snapped up quickly. A quick analysis of recent sales of 50 condos in Burnaby shows homes are going for anywhere from eight per cent under asking to 12 per cent higher than list.
Sullivan Heights
This central neighbourhood has easy access to Lougheed Town Centre plus a network of forested trails that run from Burnaby Lake to Burnaby Mountain. There are 21 active listings here, including a dozen two-bedrooms starting at $298,000 and going as high as $748,000. There is currently one listing for a brand new (preconstruction) home. It’s in the 150-unit Cameron complex and is expected to be move-in ready in 2017. The price: $479,900.
There have been four recent sales in Sullivan Heights, including one in the Cameron building (it sold for its list price of $440,900 after 88 days on the market. The area’s happiest sellers walked away with 12 per cent more than their $215,000 asking price after only six days.
Brentwood Park
Brentwood is one of several neighbourhoods experiencing tremendous growth thanks to the arrival of rapid transit. There are over 50 active listings, with two-bedroom units making up the vast majority of properties. These start at $269,900 for an older condo in Hillside Terrace to close to $1.2 million for a preconstruction home in developer Solterra’s Milano 30-storey high rise.
The neighbourhood has been seeing its fair share of sold signs. Of a dozen properties recently reported sold, final prices ranged from seven per cent under list to eight per cent over. The only brand-new listing among those was a two-bedroom in SOLO that took only two days to sell at four per cent over its $644,888 sticker price.
Burnaby Condo Market Snapshot
