Housing prices increased in Burnaby for the second straight month.
The Real Estate Board of Greater Vancouver (REBGV) says there were 2,535 residential home sales last month regionally, a 42.5 per cent drop from the 4,405 sales in March of 2022.
While the total number of houses sold fell, the organization said Metro Vancouver's housing market saw "modest increases."
"On the pricing side, the spring market is already on track to outpace our 2023 forecast, which anticipated modest price increases of about one to two per cent across all product types," REBGV spokesperson Andrew Lis said in a news release.
"The surprising part of this recent activity is that these price increases are occurring against a backdrop of elevated borrowing costs, below-average sales, and new listing activity that continues to suggest that sellers are awaiting more favourable market conditions."
Locally, residential housing hit a benchmark price of $1,110,000 in Burnaby East (+0.6 per cent compared to February of this year), $978,400 in Burnaby North (+1.6 per cent) and Burnaby South came in at $1,075,100 (+1.4 per cent).
A single-family detached house was recorded at $1,727,900 in Burnaby East (-0.1 per cent), $1,878,200 for Burnaby North (+2.0 per cent) and more than $2 million in Burnaby South at $2,071,100 (+3.7 per cent).
Areas covered by the REBGV include Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver and Whistler.
