Burnaby Condos and Townhouses House Price Index

Houses Price Index and Sales Statistics

HPI

The House Price Index, or HPI, takes into consideration more than just the sale price. The data is cleaned up to remove extreme outlier, and the final data gives a trend in the market.

Median Sale Prices

The median sale price

is usually chosen over the mean as it is not effected by extreme outliers. There is an equal number of sales both below and above the median sale price.

Median Days on Market

Days on Market

, or median listing to contract days. The fewer days on market, the hotter the market tends to be. However, the longer it is taking for properties to sell, the more it leans to a buyers' market.

Price Per Square Foot New and Resale Condos
Price Per Square Foot New and Resale Townhouses

Median price per square foot

generally follows the trend of the median sale price, but it can be used to assist in figuring out what type of properties are selling. Smaller units tend to have a higher price per square foot, all other things being equal.

Total Inventory

Total inventory

shows the number of listings available compared to the listings inventory of the past few years. Generally, if prices are rising, price per square foot is rising, you could expect to see that the inventory is low. If inventory is high, then buyers have lots to choose from and prices are not usually climbing.

Sales Volume

Sales volume

, when read with the other data, can help you to glean what is going on with the market. At times when the prices are rising and inventory is low, if sales are strong, then you could infer that the market is strong. If, however, sales volume is slowing while prices are rising, it could indicate that a shift is coming to the market.

Sales to Active Listings Ratio

Sales to Active Listing Ratio

is the final piece. This shows the relationship between the total sales volume and current active listings. The higher the ratio, the stronger the market is for sellers. The lower the ratio, the better it is for buyers. Anything over approximately 0.2 is a pretty strong market. We are seeing ratios as high as 1, which indicates that the sales volume matches the listings volume, which is a very strong selling market, and a great time to sell.