Market Report › October 2023
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October 2023 Market Report — Burnaby

The Burnaby real estate market recorded 68 homes sold in October 2023 at an average sold price of $1,082,403. This report covers sales volume, average sold price, days on market, and overall market conditions to help buyers and sellers understand October 2023 trends.

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Buyer'sBurnaby is currently a buyer's market. 6.0% sales-to-active listings ratio — homes selling in an average of 37 days, at an average sold price of $940,154 — well-priced properties are attracting strong demand.
68
Homes Sold
$1.08M
Avg Sold Price
28d
Avg Days on Market
$435,646
Avg $/sqft
Saeed Farahani
Saeed's Market Take

Burnaby showed buyer-friendly conditions in October 2023 — there was more supply than usual, giving buyers extra time and negotiating leverage. The average sold price was $1,082,403, staying relatively stable versus the prior month. Homes averaged 28 days on market, which means there's still opportunity if you're ready to move decisively.

— Saeed Farahani, Re/Max Crest Realty

October 2023 Snapshot

Homes Sold68
Avg Sold Price$1,082,403
Avg Days on Market28 days
Avg Price per ft²$435,646

12-Month Trend

Oct – Oct · MLS® sales data

Avg Sold Price
Homes Sold
Avg Days on Market
Avg $/sqft
Avg Price by Property Type
Sales Mix by Type (30d)
Saeed Farahani
Saeed Farahani
Re/Max Crest Realty

Saeed Farahani is a full-time Burnaby real estate agent with RE/MAX Crest who has been helping buyers and sellers across Burnaby and Greater Vancouver since 1999.

By Property Type (Current Period)

Burnaby real estate sales by property type — October 2023. Includes homes sold, average sold price, days on market, active listings, and market type.
TypeSold (30d)Avg Sold PriceAvg DOMActiveMarket
Apartment65$607,59240d1,089Buyer's Market
Duplex7$1,567,92925d140Buyer's Market
Fourplex0Contact0d7Buyer's Market
House21$1,818,38140d448Buyer's Market
Other0Contact0d10Buyer's Market
Townhouse21$882,02429d221Buyer's Market

24-Month Trend

Burnaby 24-month real estate market trend — homes sold, average sold price, days on market, and price per square foot. Data through October 2023.
MonthSoldAvg PriceAvg DOMAvg $/sqft
Oct67$892,17635d$356,205
Sep216$1,095,09447d$457,219
Aug217$1,015,57553d$406,729
Jul272$994,76640d$410,655
Jun274$975,58442d$409,503
May249$1,053,78140d$397,724
Apr262$1,018,08139d$409,574
Mar250$1,013,00341d$449,706
Feb208$1,018,16341d$429,908
Jan174$981,84650d$381,419
Dec162$1,045,31752d$417,372
Nov229$1,095,38145d$404,863
Oct233$1,016,20540d$428,165
Sep280$1,064,06644d$426,132
Aug251$1,014,00742d$360,179
Jul325$938,05535d$348,773
Jun265$1,074,45634d$422,420
May278$993,71733d$410,627
Apr254$1,008,43437d$379,847
Mar244$1,098,36130d$441,314
Feb202$1,016,91934d$397,163
Jan217$1,081,77847d$456,567
Dec196$1,025,15043d$356,539
Nov279$1,149,10338d$454,977

View by Property Type

Drill into October 2023 market data for a specific property type — each page includes type-filtered stats, trend data, and FAQs.

More Reports

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October 2023 — Frequently Asked

How did the Burnaby real estate market perform in October 2023?+
In October 2023, 68 homes sold in Burnaby at an average price of $1,082,403, with properties spending an average of 28 days on the market at $435,646 per square foot. Increased supply gave buyers more options and negotiating leverage.
What does the absorption rate mean for Burnaby in October 2023?+
Burnaby has a sales-to-active listings ratio (SALR) of 6.0%, below the 12% threshold that defines a buyer's market. There are more homes available relative to demand, giving buyers more time to consider their options and more room to negotiate on price and conditions. Sellers may need to price competitively to attract offers.
What does the October 2023 market mean for buyers in Burnaby?+
Buyers in Burnaby during October 2023 were in a favourable position, with more listings to choose from and less pressure to bid over asking. This is an opportunity to take time, conduct thorough due diligence, and negotiate on price, conditions, and possession dates. A good agent can help identify motivated sellers and well-priced properties.
What does the October 2023 market mean for sellers in Burnaby?+
In October 2023, Burnaby sellers faced a more challenging environment with more competing listings and buyers who were less urgently motivated. Pricing sharply and investing in presentation (staging, professional photography) were key differentiators. Sellers who priced to market saw reasonable activity; those who held firm above market value saw extended days on market.
“

Randy tracked the market data so closely that we felt completely confident in our offer price. He knew South Surrey inside out — the right neighbourhoods, the right buildings, the right timing. Highly recommend.

— Sarah M., South Surrey buyer
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