As seen in...
Westcoast Condominium
It’s spring madness and it seems as though everyone wants to get in on the condo action. Burnaby sales were up 37 per cent over February but it is when you compare year-to-date stats that the mind truly boggles. Nearly 57 per cent more condos changed hands between January and March this year than the year before. While there were substantially more owners listing their condos last month than in February (326 versus 281), there were actually fewer properties available than the previous March, when 343 owners were trying to cash in on the frenzy.
How much more is your Burnaby condo worth than a year ago? The median selling price jumped from $390,000 in March 2015 to $433,950 last month.
Forest Glen
This small neighbourhood in the vicinity of Deer Lake has a number of newer apartments. There are 20 active listings here ranging in age from one to 41 and in price from $320,000 for a two-bedroom in Edgeview Manor to $1,160,000 for a two-bedroom in Sovereign. (The unobstructed views of the water, mountains, and downtown account for the latter’s high price.)
There have been a number of sales recently in Sovereign. One two-bedroom home was on the market for 15 days before its owners let it go for two per cent below its $868,000 list price. Other owners fared better. Two two-bedroom units changed hands for one per cent over asking after eight and 10 days on the market. A one-bedroom home in the building took only five days to sell for seven per cent over its $$429,800 price.
Government Road
This eclectic neighbourhood is a favourite with nature lovers. Condo listings are slim; there is currently only one for sale (a two-bedroom in Woodstone Place for $265,000) but sales have been busy. Of seven condos that changed hands in March, six went for over asking including another two-bedroom in Woodstone Place that took a week to sell for 16 per cent over its $225,000 list price. An owner in Lougheed Estates was also likely pleased with the 10 per cent over-asking bid for their $308,000 listing that sold in eight days.
Burnaby condo market snapshot
