Burnaby South Real Estate Market Update – April 2025

Listings Surge, Sales Drop: Market Shifts in Favor of Buyers

The April 2025 numbers reveal a clear pattern in Burnaby South: inventory is rising significantly while buyer demand weakens, especially in condos and townhomes. Detached homes are seeing more modest changes in pricing, but across all property types, longer days on market and slower absorption are signaling a shift away from last year’s seller-friendly conditions.

Here’s a breakdown of the latest stats and expert interpretation.

Key Market Stats for April 2025

Detached Homes

  • Total Active Listings: 182 (+58.3% YoY)
  • Sales: 18 (-30.8% YoY)
  • Days on Market Average: 43 (+7.5% YoY)
  • MLS® HPI Benchmark Price: $2,239,000 (-0.2% YoY)

Condos

  • Total Active Listings: 448 (+29.5% YoY)
  • Sales: 67 (-28.0% YoY)
  • Days on Market Average: 44 (+109.5% YoY)
  • MLS® HPI Benchmark Price: $836,000 (-1.1% YoY)

Townhomes

  • Total Active Listings: 56 (+16.7% YoY)
  • Sales: 9 (-52.6% YoY)
  • Days on Market Average: 38 (+137.5% YoY)
  • MLS® HPI Benchmark Price: $1,066,600 (-2.8% YoY)

Market Trends & Expert Insights

  • Detached Homes: Inventory Rises, Sales Pull Back
    Detached home sales dropped 30.8% YoY, while listings surged 58.3%. Properties are spending more time on the market (43 days on average), but pricing has remained relatively stable with a modest 0.2% dip YoY. This segment is firmly transitioning to a buyer’s market, though not as sharply as condos or townhomes.
  • Condos: Dramatic Slowdown in Sales
    Condo sales fell 28.0% YoY, even as inventory climbed nearly 30%. The average days on market more than doubled, now sitting at 44 days. With the benchmark price down 1.1%, this segment is clearly seeing downward price pressure due to oversupply and buyer hesitation.
  • Townhomes: Steepest Decline in Activity
    Townhomes were the most affected this month. Sales were cut in half (-52.6% YoY), listings rose modestly, and days on market spiked to 38 days. Prices dropped 2.8% YoY, and this segment has the weakest absorption rate, with buyer activity falling significantly since last year.
  • Sales-to-Active Ratio Snapshot:
    • Detached: 9.9% → Buyer’s Market
    • Condos: 15.0% → Balanced Market (buyer-leaning)
    • Townhomes: 16.1% → Balanced Market (but softening)

What This Means for Buyers & Sellers

For Buyers:

  • Detached home buyers have more leverage than at any point in the past year—negotiation power is rising.
  • Condo buyers will benefit from increasing inventory, longer timelines, and more flexible pricing.
  • Townhome buyers may find the best bargains as this segment faces the most pressure.

For Sellers:

  • Detached sellers must price strategically and be patient—market times are longer.
  • Condo sellers face rising competition and must price to meet the market to generate interest.
  • Townhome sellers need to act fast—adjust pricing or enhance presentation to stand out in a slow-moving segment.

Final Thoughts

Burnaby South’s real estate market in April 2025 shows clear signs of a rebalancing trend, with buyers regaining control in most segments. Rising listings, fewer sales, and longer market times all point toward a more competitive environment for sellers—especially in the condo and townhome markets.

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