Burnaby North Real Estate Market Update – April 2025

Sales Slow, Inventory Builds Across the Board

Burnaby North’s housing market in April 2025 reflects a gradual shift away from last year’s intensity, with rising listings and slower absorption rates across all property types. Detached homes are firmly in buyer’s market territory, condos show signs of softening, while townhomes remain the most resilient segment this month.

Here’s a full breakdown of what’s happening in Burnaby North real estate.

Key Market Stats for April 2025

Detached Homes

  • Total Active Listings: 193 (+65.0% YoY)
  • Sales: 15 (-37.5% YoY)
  • Days on Market Average: 38 (+100.0% YoY)
  • MLS® HPI Benchmark Price: $2,171,000 (+2.6% YoY)

Condos

  • Total Active Listings: 648 (+23.0% YoY)
  • Sales: 108 (-8.5% YoY)
  • Days on Market Average: 34 (+41.7% YoY)
  • MLS® HPI Benchmark Price: $743,400 (-3.4% YoY)

Townhomes

  • Total Active Listings: 58 (+18.4% YoY)
  • Sales: 16 (+6.7% YoY)
  • Days on Market Average: 22 (+10.0% YoY)
  • MLS® HPI Benchmark Price: $912,100 (-1.2% YoY)

Market Trends & Expert Insights

  • Detached Homes: Slowing Demand Despite Price Stability
    Sales of detached homes dropped sharply (-37.5%) while inventory jumped 65% YoY. Homes are now sitting for 38 days on average, double what we saw last year. However, prices increased 2.6%, likely supported by stronger sales in earlier months. This segment is clearly trending toward buyer-friendly conditions.
  • Condos: Activity Cooling, Prices Under Pressure
    Condo inventory rose significantly (+23% YoY), while sales dipped slightly (-8.5% YoY). Properties are taking longer to sell (34 days vs 24 last year), and prices declined 3.4%. This suggests growing buyer caution and a tilt toward softer pricing in the coming months.
  • Townhomes: Resilient, But Watch for Signs of Softening
    Townhomes remain the most stable. Sales increased 6.7% YoY, and listings rose modestly (+18.4%). Homes sold relatively quickly at 22 days on average, but prices declined slightly (-1.2%). While still in balanced market territory, this segment should be monitored for a potential demand drop.
  • Sales-to-Active Ratio Snapshot:
    • Detached: 7.8% → Buyer’s Market
    • Condos: 16.7% → Balanced Market (softening)
    • Townhomes: 27.6% → Seller’s Market

What This Means for Buyers & Sellers

For Buyers

  • Detached buyers are in the best position—more inventory, slower sales, and pricing momentum fading.
  • Condo buyers have growing leverage with both pricing and time on their side.
  • Townhome buyers should act decisively on well-priced homes but can still negotiate in most cases.

For Sellers

  • Detached sellers need to adjust pricing expectations and be prepared for longer time on market.
  • Condo sellers must compete on price and presentation as buyer caution increases.
  • Townhome sellers are still in a solid spot, but early signs of softening suggest urgency is key.

Final Thoughts

Burnaby North’s April market paints a picture of transition and normalization. Detached homes have moved into clear buyer territory, condos are entering a cooling phase, and townhomes—while still performing—may soon feel the broader trend of slowed demand. Whether buying or selling, strategy matters more than ever in this shifting environment.

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