The market for condos and townhomes in Burnaby is hot! So hot, prices are up 25 per cent over this time last year. In fact, they’re even higher than the peak of the market we saw last spring and early summer.
One of the hottest neighbourhoods is Brentwood Park. This area, near Lougheed and Willingdon, is feeling the excitement from the redevelopment of the Brentwood Town Centre that is already underway. When the $1.3 billion project is completed, it will be like its own city within the city. And that’s boosted interest in existing developments nearby. Of the last 40 condo sales in Brentwood Park, 75 per cent of them went for list price or above.
We’re seeing similar stats in other areas of Burnaby as well, including South Slope and Burnaby East. If you’re a buyer, the market for condos and townhomes in Burnaby might be more favourable in the Metrotown neighbourhood. An abundance of available product there means 60 per cent of sales in the past 60 days have gone for below list. And just as the market for high-end houses has been struggling a bit, the market for condos and townhomes in Burnaby above $600,000 is a little slower. There’s a lot of new development coming down the pipe, so it’s hard to say how long the market for condos and townhomes in Burnaby will stay hot. But with interest in condos and townhomes high across the Lower Mainland right now, there’s no end in sight. That might be a little frustrating if you’re a buyer. But if you’re selling, you’ll be rewarded.
Steady trends continue in the Greater Vancouver housing market
Consistent home sale and listing activity has allowed balanced market conditions to prevail in the Greater Vancouver housing market for most of 2013. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,321 on the Multiple Listing Service® (MLS®) in November 2013. This represents a 37.7 per cent increase compared to the 1,686 sales recorded in November 2012, and a 12.8 per cent decline compared to the 2,661 sales in October 2013. Last month’s sales were 1.2 per cent below the 10-year sales average for the month, while new listings were 1.5 per cent above the 10-year November average. “We’ve seen steady and consistent trends the Greater Vancouver housing market for much of this year,” Sandra Wyant, REBGV president said. “This year’s activity has resulted in gradual and modest increases in home prices of approximately one per cent over the last 12 months in the region.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,245 in November. This represents a 17.7 per cent increase compared to the 2,758 new listings reported in November 2012 and a 24.8 per cent decline compared to the 4,315 new listings in October of this year Click Here for the Full Article Click Here for the Full Stats Package
The Grove at Victoria Hill – 2 Bed, 2 Bath, 951 SF West Facing unit overlooking the inner courtyard with Large Balcony. Very Quiet and surrounded by Greenspace this unit features a very spacious & open Living/Dining/Kitchen Area. Gourmet Kitchen with stainless steel appliances, lots of cabinets & island. Ideal Floorplan with two bedrooms located on opposite sides of the living room, Master Bedroom has walk-through closet leading into a Full Bathroom. Great Amenities at the Boiler House: Gym, Theatre, Study, Party Rm/Lounge, Outdoor Basketball Court. Central Locations, steps to Queens Park, 15min walk to Skytrain or 10 min Bus. Won’t last! Must See! Virtual Tour MLS Feature Sheet #304 290 Francis Way
The Grove, Victoria Hill – Gorgeous 2 bed, 2 bath West facing suite with large balcony overlooking the inner courtyard. Very quiet & private location, great floor plan, open concept living/dining/kitchen area. 2 bedrooms on opposite sides of the living room, 2nd bdrm has walk in closet, master bedroom has walk-through closet leading into a full bathroom. Gourmet kitchen with plenty of cabinet space, stainless steel appliances & granite counters (granite in bathrooms as well). Excellent amenities at the Boiler House; gym, theatre, study area, party room/lounge, basketball court. Great location, surrounded by parks & greenspace. 15 min walk to skytrain or 10 min bus. Suite shows well, priced to sell, must see. Virtual Tour MLS Feature Sheet 208 270 Francis Way
January 1st – June 1st market update for Burnaby East 60 Detached Houses have been sold, average sale price is $835,000 with an average days on market at 35. 39 Townhomes have been sold, average sale price is $444,400 with an average days on market at 30. 26 Condos have been sold, average sale price is $422,500 with an average days on market at 34. Community News: Edmonds Community Centre is almost up and running, this centre houses a new leisure pool with all the amenities, fitness area, gymnasiums, youth centre, seniors centre, coffee bar, and more. 2 exciting developments as well. ‘Vibe’ by SVM Homes is great urban modern living and ‘Reflections’ by Ledingham McAllister are sleek contemporary city condos. For more info on the the new Edmonds Community Centre, ‘Vibe’, or ‘Reflections’ click here. If you are thinking of making a move in Burnaby East please give us a call.
New West Quay Market is open and the boardwalk is busy. Great new restaurant ‘Wild Rice’ which features modern chinese cuisine. Pier Park also offically opens June 16th with a grand opening party. New West Station Mall is coming to life! Safeway, Shoppers, Landmark Cinemas, CIBC, and A&W are all open for your shopping enjoyment. Here are the most recent MLS Stats from Jan. 2012 – May 2012. Townhomes: 2 Sold Average Sale Price: $338,800 Average Price per Square Foot: $349 Average Days on the Market: 29 Condos: 50 Sold Average Sale Price: $351,000 Average Price per Square Foot: $349 Average Days on the Market: 35 Highest Sold Townhome: $347,000 Highest Sold Condo: $480,900 If you are thinking of making a move in New Westminster Quay please give us a call Click here for more information about the New West Station Mall ‘The Plaza’.
Rising a dramatic 19-storeys and surrounded by mature trees, estate homes and next to the private Vancouver Golf Club, these 133 homes will offer unparalleled 360 degree views from the 5th floor and above. Ranging from Junior 1 bedrooms to the spacious, well-appointed penthouses of “The Heights Collection”, all homes will include efficient layouts, oversized windows, warm laminate flooring, quartz countertops, gourmet kitchens with stainless steel appliances, and most homes feature 2 outdoor living spaces. Jr 1 Bedrooms from the $190’s 1 Bedrooms from the $260’s 2 Bedrooms from the $340’s Townhomes from the $500’s Important Information: 20% deposit with $5,000 due at time of offer, increased to 5% after 7 days. 1 parking stall included with every home. For “The Heights Collection” and the 3 bedroom townhomes, 2 stalls will be included. 1 storage locker included with every home. Amenities include a fully integrated gym/yoga room, dynamic multi-purpose lounge with wet bar, guest suite and landscaped outdoor terrace with children’s playground, BBQ area and outdoor ‘living room’ Tentative completion is Spring 2014 Visit theaustin.ca to view floorplans.
Virtual Tour – #33 245 Francis Way, New Westminster
GLENBROOK AT VICTORIA HILL by ONNI. This Outstanding 1724 sqft 3 bed, 2.5 bath END UNIT Townhome is very privately situated at the back of the complex.GORGEOUS River & Mountain VIEWS. This impressive home features high ceilings on the main,new carpet, hardwood & lam. floors, beautiful kitchen cabinets, granite counters,stainless steel appliances, 3 decks, backard, spacious master bedroom w/large walk-in closet & luxurious ensuite, 2 car tandem garage + Bonus Media Room. FULL RAINSCREEN, remainder of 5-10 yr. warranty. LOW Maint Fees include: Outstanding Amenities at the “Broiler Room” Excercise Centre, Theatre Room, Study Area, Basketball Court, Lounge w/pool table. Excellent location. near Queens Parks, shopping, Transportation.
The “258” Presentation Center will be open every day (except Fridays) from noon to five. In addition to the Interactive Theatre Room, you can check out the fully furnished two bedroom display home, color choices, floor-plans for each home and of course the scale model of the building. Be among the first in North America to experience our state-of-the-art “Interactive Real Estate Theatre”. Join us and see for yourself how this amazing new technology will change the way people view real estate forever… So come in, relax and take a look around and see what all the excitement is about and why“The 258” is the lowest priced concrete high rise in British Columbia. ·One Bedroom and Den from $209,900 ·Two Bedrooms from $238,900 ·Two Bedrooms and Den from $249,900