Burnaby North Real Estate Market Update – June 2025

Sales Slide Sharply as Inventory Climbs and Prices Ease

June 2025 paints a clear picture of slowing demand in Burnaby North, with significant drops in sales across all property types despite growing inventory. Price adjustments are now visible across detached homes, condos, and townhomes as the market shifts further into buyer-friendly territory.

Key Market Stats for June 2025

Detached Homes

  • Total Active Listings: 230 (+69.1% YoY)
  • Sales: 16 (-46.7% YoY)
  • Days on Market Average: 33 (-8.3% YoY)
  • MLS® HPI Benchmark Price: $2,131,900 (-1.9% YoY)

Condos

  • Total Active Listings: 623 (+4.9% YoY)
  • Sales: 87 (-24.3% YoY)
  • Days on Market Average: 39 (+58.3% YoY)
  • MLS® HPI Benchmark Price: $724,900 (-4.6% YoY)

Townhomes

  • Total Active Listings: 57 (-1.7% YoY)
  • Sales: 12 (-40.0% YoY)
  • Days on Market Average: 28 (+86.7% YoY)
  • MLS® HPI Benchmark Price: $930,700 (-2.6% YoY)

Market Trends & Expert Insights

  • Detached Homes: Inventory Surge, Sales Collapse
    Detached listings jumped 69.1% YoY, while sales were nearly cut in half. Despite faster sales compared to May, the benchmark price slipped 1.9% YoY, confirming growing buyer leverage in this segment.
  • Condos: Softer Demand, Longer Timelines
    Condo sales fell 24.3% YoY, even with modest inventory growth. Average time on market ballooned to 39 days, and prices dropped 4.6% YoY, indicating increased price sensitivity among buyers.
  • Townhomes: Declining Sales Amid Stable Supply
    Townhome inventory was virtually flat YoY, but sales plummeted 40%. Longer days on market (+86.7%) and a 2.6% price dip signal that this segment is losing momentum despite fewer listings.
  • Sales-to-Active Ratio Snapshot:
    • Detached: 7.0% → Buyer’s Market
    • Condos: 14.0% → Balanced Market (weakening)
    • Townhomes: 21.1% → Balanced Market (holding better than others)

What This Means for Buyers & Sellers

For Buyers:

  • Detached homes present strong negotiating opportunities, with sharp sales declines and high inventory.
  • Condo buyers can push for favorable terms, given longer selling times.
  • Townhome buyers should monitor pricing—softness is emerging despite lower inventory.

For Sellers:

  • Detached and condo sellers need competitive pricing strategies to move properties.
  • Townhome sellers must prepare for longer timelines and price-sensitive buyers.

Final Thoughts

Burnaby North’s market continues its shift toward buyers, with notable inventory surges, steep sales declines, and price adjustments across all property types. Expect this trend to persist into summer as more listings compete for fewer active buyers.

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