Burnaby's real estate market continues to be pricey.
In its monthly report, the Real Estate Board of Greater Vancouver (REBGV) says there were 2,741 home sales in April, a 16.5 per cent drop from the 3,281 recorded sales during the same time period one year ago.
While the total number of sales dipped, the organization says it is seeing a market comeback.
"The fact we are seeing prices rising and sales rebounding this spring tells us home buyers are returning with confidence after a challenging year for our market, with mortgage rates roughly doubling," REBGV spokesperson Andrew Lis said in a news release.
"The latest MLS HPI® data show home prices have increased about five per cent year-to-date, which already outpaces our forecast of one to two per cent by year-end. The year is far from over, however, and it remains to be seen if these price increases will be sustained into 2024."
Locally, residential properties hit $1,114,900 in Burnaby East (+0.4 per cent compared to March of this year), $1,002,900 in Burnaby North (+2.5 per cent) and $1,100,200 in Burnaby South (+2.3 per cent).
Single-family detached homes saw benchmark prices of $1,749,700 in Burnaby East (+1.3 per cent), $1,933,700 in Burnaby North (+3.0 per cent) and $2,145,800 in Burnaby South (+3.6 per cent).
