Burnaby, BC

Burnaby, British Columbia is the Lower Mainland’s third-largest city after Vancouver and Surrey. 

Named after the explorer Robert Burnaby, the city has progressed from its rural beginnings in the 1890s to a bustling metropolitan area in Metro Vancouver.

Like Vancouver, Burnaby is home to a multicultural population made up of Chinese, South Asians, Filipinos, Koreans, Latin Americans, Arabs, and other nationalities.

If you’re looking to purchase real estate in B.C., read on for more information about this beautiful region. 

Is Burnaby a Good Place to Live?

Burnaby’s central geographic location and all the great amenities it offers make it an ideal place to get away from the hustle and bustle of Vancouver. This livable city promotes a vigorous and sustainable economy by bolstering the overall welfare of its residents. Maclean’s magazine in 2009 named Burnaby the “Best Run City in Canada.”

Burnaby’s residents proudly declare that Burnaby offers a peaceful suburban setting without being too far from Vancouver’s amenities. Add to that more attractive features that include affordable housing prices, picturesque scenery, and convenient commute.

These appealing amenities are reflected in recent (2020-2021) real estate trends.

Housing Trends in Burnaby B.C.

The Burnaby real estate market was booming as of March 2021. The scorching housing market in Metro Vancouver began to lose some of its heat come May, but the Real Estate Board of Greater Vancouver (REBGV) reports that sales remained consistent.  

The board’s statement said that 4,268 homes across the region were transferred in May to new owners, a drop of 13% from that of April. Although May didn’t reach the record-breaking action it showed in March, REBGV says that transactions were still 187.4 % higher compared to those seen in May last year when businesses closed down due to the pandemic.

Is it all over for Burnaby residents taking advantage of a hot real estate market?

Some real estate experts showed indications of that trend. Kush Panatch, president of Panatch Group residential developer, said the lively market trend in the last ten months was founded mostly on buyers’ fear of not being able to jump in and grab the opportunity.

Per the most recent numbers released by the REBGV, home sales around the region added up to 4,908, indicating a 342.6% increase compared to only 1,109 sales in March of 2020.

April could bring decisive shifts in this hot market trend as a change in pace has been shown in the last couple of weeks. Overall, there were fewer subject‐free offers, fewer multiple offers, and over-priced homes stayed up longer – signs that the market is reacting to high levels of new listings.

In Burnaby, 183 attached houses, 337 detached, and 491 apartments were listed. According to the REBGV, 160 detached dwellings were sold, while attached housing registered 124 sales in April. 371 apartment listings were bought as well.

Hire a Top-Rated Burnaby, B.C. Painting Contractor for Your New Home

Tall Guy Painting’s Burnaby painters are the go-to contractors for all your home painting needs. We work in Burnaby B.C. neighbourhoods including Big Bend, Brentwood Park, Burnaby Heights, Edmonds, Maywood, North Burnaby, Westridge, South Slope, and beyond. 

We deliver premium interior and exterior painting services to give your home a fresh, clean look.

Call us today at (778) 683-5397 or contact us online to discuss your painting needs.

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