If you want to see just how robust the Burnaby real estate market is, check out the speed with which properties are selling for – and for how much.
Buyers in Burnaby are all over single-detached houses that are old but on decent-sized lots.
The house pictured above at 4666 Highlawn Dr. in the Brentwood area is 68 years old and just sold for $2.1 million – after only six days on the market. The house, which is only 2,300 square feet, actualy sold below the asking price of $2.288 million – most of the houses selling lately are going for well above the asking price.
A house at 8691 – 11th Ave. just sold for $1.830 million after just six days. It’s 68 years old and sold for well above the $1.699 million asking price.
A house on 13th Avenue in East Burnaby sold in mid-March for $1,630,000, which was $231,000 over the asking price. The house had only been on the market for only four days. It’s 75 years old and 2,500 square feet on a .18-acre lot. The listings that were posted online only showed one or two exterior photos so it appears to be destined to be torn down with a new home built in its place.
And another house that is older than 60 years just sold for $1.6 million 8326 – 17th Ave. – well above the $1.5 million asking price. It’s only 1,600 square feet.
Burnaby’s real estate market is seeing sellers reaping some amazing rewards, according to the Real Estate Board of Greater Vancouver (REBGV) and some recent sales.
In Burnaby, there was a big jump in sales in February, according to the REBGV, with 459 in total – way above the 314 in January.
Last month’s Metro Vancouver real estate sales were 26.9 per cent above the 10-year February sales average, said the REBGV.
In Burnaby, the average price for a detached house was going from $2.2 million, up from $2,062,000 in January and way up from $1.7 million in February 2021.
“As we prepare to enter what’s traditionally the busiest season of the year, the Metro Vancouver housing market is seeing more historically typical home sale activity and a modest uptick in home listing activity compared to last year,” Taylor Biggar, REBGV chair said.
Follow Chris Campbell on Twitter @shinebox44.