March 2024 Alert: Burnaby's Home Prices Soar! What You Must Know 🚀🏡
March 2024 Alert: Burnaby's Home Prices Soar! What You Must Know 🚀🏡
Dive deep with us as we explore the latest trends and shifts in the Burnaby real estate scene this March 2024. Whether you're a first-time homebuyer, looking to sell, or simply keeping an eye on the market, we've got the insights you need to make informed decisions.
*What's Inside?*
**Inventory Changes**: We’ve noticed a 17% increase in listing inventory compared to last year. What does this mean for you?
**Sales Trends**: With sales down by 11.6% from last year and 32% below the 10-year average, we'll discuss how this impacts both buyers and sellers.
**Price Movements**: Prices are on the move! We'll break down the 11.1% increase for houses, 4.1% for condos, and 5.8% for townhomes.
**Market Dynamics**: With the average days on market sitting at 28 days, find out how quickly homes are moving.
**Sales to Active Ratios**: With ratios of 21%, 23%, and 27% over the last three months, what does this signal for the market's direction?
**Plus**, we’ll share our forecast for the next three months and provide actionable recommendations for both buyers and sellers navigating this vibrant market.
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Let’s embark on this real estate journey together - Your future home awaits!
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Alex Lam
Personal Real Estate Corporation
Realzen Realty Corp
3999 Henning Drive, Suite 402
Burnaby, BC
778-898-2539
[email protected]
www.alexlam.net
