Condos Market Report

February 2024 Burnaby Lake Condos Market

Condos market data for Burnaby Lake, Burnaby — February 2024. Average sold price $1,325,500, 3 sold in 30 days, 50 avg days on market.

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Buyer's MarketBurnaby Lake condos is currently a buyer's market. 11.5% sales-to-active listings ratio — homes selling in an average of 50 days, at an average sold price of $1,325,500 — well-priced properties are attracting strong demand.
3
Condos Sold (30d)
$1.33M
Avg Sold Price
50d
Avg Days on Market
26
Homes For Sale

Current Burnaby Lake Condos Stats

Live MLS® data updated every 5 minutes. Most recent 30-day rolling window.

Condos Sold (30d)3
Avg Sold Price$1,325,500
Homes For Sale26
Avg Days on Market50 days
Months of Supply8.7 mo

February 2024 Burnaby Lake Market Snapshot

All property types — historical MLS® data for Burnaby Lake in February 2024.

All Types Sold3
Avg Sold Price$1,677,267
Avg Days on Market101 days
Avg Price per ft²$1,002,267

Burnaby Lake Monthly Market Trend

MonthSoldAvg Sold PriceAvg DOMAvg $/sqftMarket
September 20263$1,325,50050d$609,125—
August 20263$1,030,00050d$613,657Seller's
July 20264$1,729,00056d$552,223Seller's
June 20263$1,310,60335d$839,968Seller's
May 20262$1,650,00019d$825,000Seller's
April 20267$1,850,04356d$867,164Seller's

Frequently Asked Questions — Burnaby Lake Condos

How did the Burnaby Lake condos market perform in February 2024?+
The Burnaby Lake condos market currently shows 3 units sold in the last 30 days at an average price of $1,325,500, with an average of 50 days on market. Buyers have more choice and negotiating leverage. This data reflects the most recent 30-day MLS® activity.
What is the average price of a condo in Burnaby Lake?+
The average sold price for a condo in Burnaby Lake is currently $1,325,500, based on MLS® sales over the past 30 days. Prices vary by size, floor, age, and condition. Contact a local agent for a property-specific valuation.
How long do condos take to sell in Burnaby Lake?+
Condos in Burnaby Lake are currently selling in an average of 50 days on market. Well-priced properties in good condition tend to sell faster — sometimes within days of listing. Properties at higher price points may take longer.
What is the absorption rate for condos in Burnaby Lake?+
Burnaby Lake condos has a sales-to-active listings ratio (SALR) of 11.5%, 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.
Is it a good time to buy a condo in Burnaby Lake?+
Burnaby Lake condos are currently in a buyer's market. The average price is $1,325,500. Whether now is the right time depends on your personal timeline, budget, and goals. A knowledgeable local agent can help you assess current opportunities.
How did the overall Burnaby Lake market perform in February 2024?+
In February 2024, the Burnaby Lake real estate market (all property types) recorded 3 sales at an average price of $1,677,267, with properties averaging 101 days on market at $1,002,267 per square foot.
How did Burnaby Lake compare in February 2024 vs. January 2024?+
Compared to January 2024, overall Burnaby Lake sales volume was down 25% (4 vs 3 homes sold) and the average sold price was up 1% to $1,677,267.
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