Blog by Robert Crowe

<< back to article list

2010 MLS® Sales Comparison SFU Condos vs Other Areas of Burnaby

MLS LogoI was doing a quick review of the 2010 sales history for condo apartment and townhouses in Burnaby, BC today. There we a total of 2377 sold listings recorded according to The Real Estate Board of Greater Vancouver's MLS® department. The average days on market was 42 days.

I was curious to see how this compared to the statistics for properties at Simon Fraser University's residential community UniverCity, and did a quick comparison of properties build in 2003 and later, as this was about the time UniverCity at SFU was beginning occupancy, so for the most part these properties have something in common.

This report shows that there were at total of 1012 condo apartment, and townhouse listing sold in the rest of Burnaby, built in 2003 or later. the average price per square foot of these sold properties was $459.24. The days on market were comparable at an average of 43 days.

There were a total of 134 apartment condos and townhouses sold at Univercity on MLS®, with an average price per square foot of $427.56, and a fairly consitant days on market at 46.

This is good news for SFU being that the average price per square foot of these types of homes has risen from the 2009 average of $384.83 per square foot, or 11%. Similarly the average in 2009 for the rest of burnaby was $424.51, which is only 8%.

What is interesting to note is that out of a total of 619 reported 2010 sales of all North Burnaby condo apartment and Townhouses built in 2003 or later, SFU's University sales represented 21.6% of all the North Burnaby sales, which shows the growing popularity of this community.