As seen in...
Westcoast Condominium Logo
Burnaby is a great city for condo hunters. A quick look at the recent closes shows that all save one of the reported sales went for at or below list price. This was true for both brand-new units as well as homes in older buildings, with one owner accepting an offer nine per cent under asking. That was an anomaly; most owners accepted offers around two per cent below list price.
The one property that went for more than list was a two-bedroom unit in the SFU area. The owner of this 27-year-old home was asking $412,500 and accepted $415,000 after only four days on the market. The range of selling prices was broad, from $200,000 for a two-bedroom, 33-year-old unit in the Cariboo neighbourhood to $881,000 for a two-bedroom, five-year-old home in Jewel near Metrotown.
Central Park
Neighbourhood residents see Central Park as having the best of what Burnaby has to offer: a huge urban park with forest walks as well as excellent sports and recreation facilities. Add to that its own SkyTrain station and an easy walk to the shops at Metrotown and you have a winning recipe for a great place to live.
Of the area’s 24 active listings at the time of writing, all are one- or two-bedroom units with prices ranging from $159,900 to $498,800. The median list price is $345,950 – well below the city’s overall median of $408,000. Most of the available properties are in older buildings; 19 of the 24 home are between 20 and 41 years old.
Government Road
Heading north and east is the neighbourhood of Government Road. Nestled between Burnaby Mountain and Burnaby Lake, the area also has great parklands and nature trails as well as fast access to downtown Vancouver. Shopping is easy at the nearby Lougheed Mall.
There are 21 active listings here, ranging in price from $159,000 to $399,900. Most of the available properties are one- or two-bedroom homes but there are two three-bedrooms also on the market. These apartments also tend to be on the older side, with 18 of the listings being in buildings older than 25 years.
Several of the homes were new listings at the time of writing, so, if this is your target neighbourhood and you haven’t checked inventory lately, it may be time to ask your real estate agent to set up some viewings.
Burnaby Condo Market Snapshot
