{"id":22313,"date":"2023-08-03T10:10:00","date_gmt":"2023-08-03T17:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=22313"},"modified":"2023-07-12T11:09:47","modified_gmt":"2023-07-12T18:09:47","slug":"the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2023\/08\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\/","title":{"rendered":"The Average Price for A Typical Detached Burnaby Home is $2.05 Million"},"content":{"rendered":"<p style=\"text-align: justify;\">Home prices continue to rise month-over-month in Metro Vancouver, and Burnaby is no exception.<\/p>\n<p style=\"text-align: justify;\">Detached home and apartment prices have risen across the city, according to a new report by the Real Estate Board of Greater Vancouver (REBGV).<\/p>\n<p style=\"text-align: justify;\">\u201cDespite elevated borrowing costs, there continues to be too little resale inventory available relative to the pool of buyers in Metro Vancouver,\u201d said Andrew Lis, REBGV\u2019s director of economics and data analytics, in a news release. \u201cThis is the fundamental reason we continue to see prices increase month over month across all segments.\u201d<\/p>\n<p style=\"text-align: justify;\">In Burnaby, the estimated price of a typical property (called the benchmark price), ranged from about $1.03 million in north Burnaby to $1.19 million in east Burnaby. South Burnaby saw a benchmark price of $1.12 million last month across all property types.<\/p>\n<p style=\"text-align: justify;\">North Burnaby saw a 0.9% increase from May, East Burnaby a 2.7% increase, and South Burnaby a 1% increase from the previous month.<\/p>\n<p style=\"text-align: justify;\">But in the last year, prices have dropped a little. North Burnaby saw its residential benchmark drop 3.7% from a year ago \u2013 but it\u2019s still up 26.8% from three years ago.<\/p>\n<p style=\"text-align: justify;\">And townhome prices in east Burnaby fell slightly since May, with a benchmark of $863,500 (down 1.3%, but up 27.1% from three years ago).<\/p>\n<p style=\"text-align: justify;\">The REBGV is calling on the provincial government to adjust the threshold for the first-time homebuyers\u2019 exemption from the property transfer tax.<\/p>\n<p style=\"text-align: justify;\">The REBGV noted the benchmark price for apartments in the region is now $767,000 \u2013 while the current threshold for the first-time buyers\u2019 tax exemption is $525,000.<\/p>\n<p style=\"text-align: justify;\">\u201cThis is a simple policy adjustment that could help more first-time buyers afford a home right now,\u201d Lis said.<\/p>\n<p style=\"text-align: justify;\">In Burnaby last month, there were 65 detached homes sold (median selling price : $2 million), 67 attached homes (median price : $990,000), and 258 apartments sold (median price : $738,000), according to the REBGV data.<\/p>\n<p style=\"text-align: justify;\"><strong>Benchmark prices for apartments<\/strong><br \/>\n\u2022 Burnaby East : $798,600 (up 1.2%)<br \/>\n\u2022 Burnaby North : $753,800 (up 0.1%)<br \/>\n\u2022 Burnaby South : $812,100 (up 0.8%)<\/p>\n<p style=\"text-align: justify;\"><strong>Benchmark prices for townhomes<\/strong><br \/>\n\u2022 Burnaby East : $863,500 (down 1.3%)<br \/>\n\u2022 Burnaby North : $903,500 (up 0.1%)<br \/>\n\u2022 Burnaby South : $997,800 (up 0.6%)<\/p>\n<p style=\"text-align: justify;\"><strong>Benchmark prices for detached homes<\/strong><br \/>\n\u2022 Burnaby East : $1.91 million (up 4.8%)<br \/>\n\u2022 Burnaby North : $2.04 million (up 2.9%)<br \/>\n\u2022 Burnaby South : $2.2 million (up 1.7%)<\/p>\n<p><a href=\"https:\/\/www.burnabynow.com\/highlights\/burnaby-home-prices-still-rising-7258810\" target=\"_blank\" rel=\"noopener\">Burnaby Home Prices Still Rising<\/a> by Lauren Vanderdeen | Burnaby Now<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home prices continue to rise month-over-month in Metro Vancouver, and Burnaby is no exception. Detached home and apartment prices have risen across the city, according to a new report by &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2023\/08\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-22313","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Average Price for A Typical Detached Burnaby Home is $2.05 Million &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2023\/08\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Average Price for A Typical Detached Burnaby Home is $2.05 Million &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Home prices continue to rise month-over-month in Metro Vancouver, and Burnaby is no exception. Detached home and apartment prices have risen across the city, according to a new report by &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/08\\\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/08\\\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"The Average Price for A Typical Detached Burnaby Home is $2.05 Million\",\"datePublished\":\"2023-08-03T17:10:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/08\\\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\\\/\"},\"wordCount\":358,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/08\\\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/08\\\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/08\\\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\\\/\",\"name\":\"The Average Price for A Typical Detached Burnaby Home is $2.05 Million &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2023-08-03T17:10:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/08\\\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/08\\\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/08\\\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Average Price for A Typical Detached Burnaby Home is $2.05 Million\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Average Price for A Typical Detached Burnaby Home is $2.05 Million &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2023\/08\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\/","twitter_card":"summary_large_image","twitter_title":"The Average Price for A Typical Detached Burnaby Home is $2.05 Million &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"Home prices continue to rise month-over-month in Metro Vancouver, and Burnaby is no exception. Detached home and apartment prices have risen across the city, according to a new report by &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2023\/08\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2023\/08\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"The Average Price for A Typical Detached Burnaby Home is $2.05 Million","datePublished":"2023-08-03T17:10:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2023\/08\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\/"},"wordCount":358,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2023\/08\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2023\/08\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\/","url":"https:\/\/www.roryc.ca\/blog\/2023\/08\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\/","name":"The Average Price for A Typical Detached Burnaby Home is $2.05 Million &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2023-08-03T17:10:00+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2023\/08\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2023\/08\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2023\/08\/the-average-price-for-a-typical-detached-burnaby-home-is-2-05-million\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"The Average Price for A Typical Detached Burnaby Home is $2.05 Million"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/22313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=22313"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/22313\/revisions"}],"predecessor-version":[{"id":22314,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/22313\/revisions\/22314"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=22313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=22313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=22313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}