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Burnaby real estate sales - and prices - surge in April despite COVID-19

Region sees a massive 342.6 per cent increase in home sales compared to April 2020
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House sales are on the rise. | Dan Toulget, Glacier Media

While the pandemic is still affecting Metro Vancouver immensely, it isn't slowing down house sales. 

According to the latest numbers released by the Real Estate Board of Greater Vancouver (REBGV), April saw home sales total 4,908 throughout the region, marking a 342.6 per cent rise compared to just 1,109 sales during the same month in 2020. 

The data didn't reach the same heights as March of this year, where 5,708 homes were purchased. 

When it comes to listings, 7,938 detached, attached and apartments were listed last month, which equates to a massive surge of 243.2 per cent compared to the 2,313 houses that hit the market in April 2020. 

Listings also dipped from numbers in March when 8,287 were added.

When it comes to Burnaby, the city saw 337 detached houses listed, 183 attached listed and 491 apartment listings. 

The REGBV says 160 detached dwellings sold in Burnaby in April, while attached housing recorded 124 sales. There were also 371 apartment listings bought.

"Our housing market has changed considerably from one year ago when COVID-19 concerns brought activity to a near standstill,” spokesperson Keith Stewart said in a statement. 

“This was followed by a well-documented spike in home buyer demand across the region. So far this spring, we’ve seen a corresponding supply response from home sellers."

The following numbers show Burnaby benchmark prices, monthly and yearly changes as well as price index according to MLS Home Price Index data.

Residential/Composite

BURNABY EAST

  • Benchmark price = $1,052,800
  • Price Index = 292.0
  • One-month change = Two per cent
  • Three-month change = 5.1 per cent
  • Six-month change = 6.2 per cent
  • One-year change = 9.4 per cent
  • Three-year change = 1.5 per cent
  • Five-year change = 30.9 per cent
  • 10-year change = 85.2 per cent

BURNABY NORTH

  • Benchmark price = $966,100
  • Price Index = 291.7
  • One-month change = 2.3 per cent
  • Three-month change = 5.8 per cent
  • Six-month change = 7.5 per cent
  • One-year change = 8.2 per cent
  • Three-year change = 2.7 per cent
  • Five-year change = 33.5 per cent
  • 10-year change = 90.9 per cent

BURNABY SOUTH

  • Benchmark price = $1,034,900
  • Prince index = 292.3 
  • One-month change = 2.2 per cent
  • Three-month change = 6.5 per cent
  • Six-month change = 6.6 per cent
  • One-year change = 7.1 per cent
  • Three-year change = -0.9 per cent
  • Five-year change = 33.1 per cent
  • 10-year change = 83.1 percent

Single Family Detached

BURNABY EAST

  • Benchmark price = $1,435,100
  • Price index = 320.9
  • One-month change =  3.8 per cent
  • Three-month change = 8.6 per cent
  • Six-month change = 12 per cent
  • One-year change = 17.6 per cent
  • Three-year change = 7.8 per cent
  • Five-year change = 27.6 per cent
  • 10-year change = 102 per cent

BURNABY NORTH

  • Benchmark price = $1,709,000
  • Price Index = 330.5
  • One-month change = 4.7 per cent
  • Three-month change = 10.5 per cent
  • Six-month change = 13.8 per cent
  • One-year change = 16.3 per cent
  • Three-year change = 7.1 per cent
  • Five-year change = 19.4 per cent
  • 10-year change = 100.1 per cent

BURNABY SOUTH

  • Benchmark price = $1,728,000
  • Price index = 330.8
  • One-month change = 1.9 per cent
  • Three-month change = 8.2 per cent
  • Six-month change = 10.5 per cent
  • One-year change = 15.1 per cent
  • Three-year change = 3.1 per cent
  • Five-year change = 15.9 per cent
  • 10-year change = 89.0 per cent

Townhouses

BURNABY EAST

  • Benchmark price = $701.700
  • Price Index = 259.2
  • One-month change = 0.2 per cent
  • Three-month change = 1.4 per cent
  • Six-month change = -0.8 per cent
  • One-year change = 6.7 per cent
  • Three-year change = 0.3 per cent
  • Five-year change= 46.8 per cent
  • 10-year change = 66.2 per cent

BURNABY NORTH

  • Benchmark price = $797,300
  • Price Index = 297.6
  • One-month change = 2.5 per cent
  • Three-month change = 5 per cent
  • Six-month change = 6.8 per cent
  • One-year change = 9.5 per cent
  • Three-year change = 5.2 per cent
  • Five-year change = 38.9 per cent
  • 10-year change = 88.7 per cent

BURNABY SOUTH

  • Benchmark price = $842,200
  • Price Index = 290.1
  • One month change = 2.7 per cent
  • Three month change = Five per cent
  • Six month change = 4.5 per cent 
  • One year change = 7.8 per cent
  • Three year change = 0.9 per cent
  • Five year change = 44.3 per cent
  • 10-year change = 83.3 per cent

Apartments

BURNABY EAST

  • Benchmark price = $752,000
  • Price Index = 288.5
  • One-month change = 0.7 per cent
  • Three-month change = Three per cent
  • Six-month change = 3.7 per cent
  • One-year change = 0.2 per cent
  • Three-year chance = -6.7 per cent
  • Five-year change = 35.4 per cent
  • 10-year change = 79.4 per cent

BURNABY NORTH

  • Benchmark price = $645,000
  • Price Index = 275.6 
  • One-month change = 1.3 per cent
  • Three-month change = 4.2 per cent
  • Six-month change = Five per cent
  • One-year change = 4.4 per cent
  • Three-year change = 0.8 per cent
  • Five-year change = 53.1 per cent
  • 10-year change = 92.2 per cent

BURNABY SOUTH

  • Benchmark price = $696,400
  • Price Index = 279.6
  • One-month change = Two per cent
  • Three-month change = 5.9 per cent
  • Six-month change = 5.4 per cent
  • One-year change = 3.5 per cent
  • Three-year change = -2.7 per cent
  • Five-year change = 46.7 per cent
  • 10-year change = 81.9 per cent

For Metro Vancouver, the region totalled 4,908 sales in April 2021, a 342.6 per cent increase from the 1,109 sales recorded in April 2020, and a 14 per cent decrease from the 5,708 homes sold in March 2021.

Last month’s sales were 56.2 per cent above the 10-year April sales average and is the highest total on record for the month.

"Our housing market has changed considerably from one year ago when COVID-19 concerns brought activity to a near standstill,” Keith Stewart, REBGV’s economist said. “This was followed by a well-documented spike in home buyer demand across the region. So far this spring, we’ve seen a corresponding supply response from home sellers." 

More data and information can be found on the Real Estate Board of Greater Vancouver website.