A dwindling number of listings and a surging number of buyers are combining to be good news for people selling their homes in Burnaby.
One recent Burnaby house sale is proof of that as multiple offer madness meant the price of the house kept rising.
A 66-year-old house at 6176 Denbigh Ave. just sold for $2,625,000 – about $437,000 over the asking price.
The house is about 3,000 square feet on a lot that is .23 acres. At that price, however, it could just be a teardown to make way for a multi-story house that could sell for more than $4 million in today’s scorching hot market.
Plenty of other homes in Burnaby are going way over the asking price.
Take, for example, a house on Spruce Street near Burnaby Hospital. It just sold for a whopping $2,237,000 or 19% over the original asking price. Not bad for a house that is barely over 2,000 square feet and is 68 years old that includes a moldy-looking lawn on the 7,200-square-foot lot.
As for townhouses, a 28-year-old home measuring 2,600 square feet on Mulberry Place (scroll through the photos above for a pic of the living room) just sold for $1,580,000, which is 21% over the original asking price.
In Burnaby, home sales are surging. There was a big jump in sales last month, with 459 in total – way above the 314 in January.
Prices, however, also soared again, with the average price for a detached house going from $2.2 million, up from $2,062,000 in January and way up from $1.7 million in February 2021.
Follow Chris Campbell on Twitter @shinebox44.
