Old Burnaby houses snapped up in just days for millions

If you want to see just how robust the Burnaby genuine estate market place is, test out the velocity with which homes are offering for – and for how considerably.

Consumers in Burnaby are all around solitary-detached properties that are outdated but on first rate-sized heaps.

The home pictured over at 4666 Highlawn Dr. in the Brentwood space is 68 yrs previous and just bought for $2.1 million – just after only six days on the market. The dwelling, which is only 2,300 sq. ft, actualy marketed beneath the inquiring selling price of $2.288 million – most of the properties marketing recently are likely for well previously mentioned the asking value.

A property at 8691 – 11^th Ave. just marketed for $1.830 million after just six days. It is 68 yrs outdated and sold for very well above the $1.699 million inquiring value.

A house on 13^th Avenue in East Burnaby offered in mid-March for $1,630,000, which was $231,000 about the inquiring value. The residence experienced only been on the marketplace for only four days. It’s 75 yrs aged and 2,500 square ft on a .18-acre ton. The listings that were posted on the web only showed a single or two exterior photos so it appears to be destined to be torn down with a new dwelling developed in its location.

And a different household that is older than 60 decades just marketed for $1.6 million 8326 – 17^th Ave. – perfectly over the $1.5 million inquiring price tag. It’s only 1,600 sq. toes.

Burnaby’s serious estate market place is looking at sellers reaping some amazing rewards, in accordance to the True Estate Board of Greater Vancouver (REBGV) and some the latest product sales.

In Burnaby, there was a significant leap in income in February, in accordance to the REBGV, with 459 in overall – way earlier mentioned the 314 in January.

Very last month’s Metro Vancouver real estate revenue have been 26.9 per cent earlier mentioned the 10-calendar year February revenue average, explained the REBGV. 

In Burnaby, the average selling price for a detached residence was likely from $2.2 million, up from $2,062,000 in January and way up from $1.7 million in February 2021.
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“As we put together to enter what’s historically the busiest time of the calendar year, the Metro Vancouver housing industry is looking at far more historically normal home sale action and a modest uptick in residence listing activity compared to past calendar year,” Taylor Biggar, REBGV chair mentioned.   

Stick to Chris Campbell on Twitter @shinebox44.