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Single-family homes still over $2M mark in Burnaby

Apartments in one Burnaby neighbourhood cost more last month than a Vancouver neighbour.
Single-family homes cost more than $2 million in Burnaby last month.

Home prices in Burnaby are holding steady, but it's still $2 million for a single-family home.

While overall there's been the slightest dip in the benchmark price of local homes month-over-month, it's still an increase over the last six months, according to the Real Estate Board of Greater Vancouver (REBGV).

In Burnaby North and Burnaby South last month, single-family detached homes cost more than $2 million, with Burnaby South homes on average about $2.25 million and Burnaby North homes at almost $2.05 million.

It's a slight increase month-over-month for both neighbourhoods (0.3 per cent in Burnaby North and 0.6 per cent in Burnaby South), and about a 116 per cent increase since 2013.

In Burnaby East, the benchmark price for a single-family home was $1.92 million in August, a 1.1 per cent decrease since July, but a 5.5 per cent increase since May and a 133.4 per cent increase over the last decade.

In Burnaby South, the average townhouse is now more than $1 million, at about $1.037 million. Townhomes are a bit cheaper in Burnaby North (with a benchmark price of $914,900) and Burnaby East (at $903,200).

Apartments in Burnaby South were almost $100,000 more than Vancouver East — the benchmark price in in Burnaby South was $823,300; in Vancouver East, it was $723,900.

Burnaby saw a total of 303 homes sold in August: 44 detached homes, 52 attached homes and 207 apartments.

The median selling price for a detached home was $2,044,400; $1,139,000 for an attached home; and $720,000 for an apartment.