Burnaby townhouse and apartment prices drop, while single family detached saw some increases.
According to the Greater Vancouver Realtors, residential sales throughout the region hit 2,733 in May, which equated to a 19.9 per cent decreased compared to the 3,411 sales that were recorded in May 2023.
“It’s a natural inclination to chalk these trends up to one factor or another, but what we’re seeing is a culmination of factors influencing buyer and seller decisions in the market right now. It’s everything from higher borrowing costs, to worries about the economy, to policy interventions imposed by various levels of government.”
Locally, residential properties hit a benchmark price of $1,178,200 in Burnaby East , $1,019, 900 in Burnaby North and $1,158,200 in Burnaby South .
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