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Westcoast Condominium
Listings are starting to pick up after the Christmas slump, but still have a ways to go before Burnaby buyers probably feel they have a good amount of choice. If your search has been going on for a while now, your primary interest is the latest listings. At the time of writing, there were just over 50 Burnaby condos that had been on the market for under a week. They ranged in price from $289,000 for a two-bedroom in the Cariboo neighbourhood that was listed January 12 to a three-bedroom, $1.38 million home in Metrotown that came on the market January 8.
While some properties seem to languish forever (the oldest Burnaby condo listing has been on the books for a little over a year), others are snapped. Take the two-bedroom home in Metropolitan in Metrotown, for instance, that was sold two days after listing for four per cent less than its $435,000 sticker price. What a great way for both the buyers and sellers to begin the new year.
Brentwood Park
The 39 active listings in this neighbourhood start at $288,000 for a two-bedroom home in a 37-year-old building. At the high end of the price range is a $1,199,900 listing in Milano, a new development currently in preconstruction. Brentwood is undergoing a renaissance with its mall redevelopment and its easy access to rapid transit. Analysis of six recent area sales shows half of the properties selling at list price, while the other condos went for one, three and four per cent under asking.
Simon Fraser University
Is the air clearer on Burnaby Mountain? We’re not sure, but it’s certainly a busy place for condo seekers with 36 active listings. The most recent properties to come on the market include a three-bedroom on University Crescent that was listed January 11 for $1.26M and a two-bedroom on the same street that went on the market January 6 for $418,000. One recent sale on University Crescent demonstrates at least some sellers are willing to play ball. The two-bedroom unit sold the same day it was listed for seven per cent below its asking price of $406,666.
Burnaby Condo Market Snapshot
