Condos Market Report

May 2024 Deer Lake Condos Market

Condos market data for Deer Lake, Burnaby — covering sales volume, pricing, and days on market for May 2024.

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Buyer's MarketDeer Lake condos is currently a buyer's market, with 10.1% sales-to-active listings ratio.
2
All Types Sold
$3.14M
Avg Sold Price
10d
Avg Days on Market
$785,000
Avg $/sqft

May 2024 Deer Lake Market Snapshot

All property types — historical MLS® data for Deer Lake in May 2024.

All Types Sold2
Avg Sold Price$3,140,000
Avg Days on Market10 days
Avg Price per ft²$785,000

Deer Lake Monthly Market Trend

MonthSoldAvg Sold PriceAvg DOMAvg $/sqftMarket
August 20261$2,909,99925d$727,500—
July 20262$2,800,00310d$1,183,335—
April 20262$2,235,00013d$745,000—
November 20251$2,900,000234d$483,333—
September 20251$2,100,00071d$1,050,000Seller's
August 20252$3,062,50074d$765,625Seller's

Frequently Asked Questions — Deer Lake Condos

How did the Deer Lake condos market perform in May 2024?+
May 2024 condos data for Deer Lake is being compiled. Check back soon or view the full Deer Lake market report.
What is the absorption rate for condos in Deer Lake?+
Deer Lake condos has a sales-to-active listings ratio (SALR) of 10.1%, 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 Deer Lake?+
Deer Lake condos are currently in a buyer's market. 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 Deer Lake market perform in May 2024?+
In May 2024, the Deer Lake real estate market (all property types) recorded 2 sales at an average price of $3,140,000, with properties averaging 10 days on market at $785,000 per square foot.
How did Deer Lake compare in May 2024 vs. April 2024?+
Compared to April 2024, overall Deer Lake sales volume was down 50% (4 vs 2 homes sold) and the average sold price was up 1% to $3,140,000.
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