Are you searching for your next home in the vibrant heart of Burnaby? Step into this beautifully maintained condominium — located in one of Burnaby South's most sought-after neighborhoods. Whether you're a first-time buyer, investor, or planning a smart move into a growing area, this property offers an ideal blend of comfort, convenience, and community.

📍 Welcome to Burnaby South: Where Lifestyle Meets Location

This Open House in Burnaby South places you in the dynamic Metrotown area, known for its family-friendly environment and excellent connectivity. With April 2025’s sales-to-active ratio at 14.70%, the local market is balanced — signaling strong interest and stability for both buyers and sellers.

🏫 Top-Rated Schools in Your Catchment

Families will appreciate access to two of Burnaby's best public schools:

• Marlborough Elementary School: Renowned for its dual-track English and French Immersion programs.

• Moscrop Secondary School: A high-ranking academic institution with strong STEM and extracurricular offerings.

These schools not only enhance quality of life but also add long-term value to your property investment.

🏞️ Green Spaces and Recreation Just Steps Away

Live near nature while staying connected to city life. This condo is minutes from:

• Central Park: 90 hectares of forested walking trails, sports facilities, and a pitch-and-putt golf course.

• Bonsor Recreation Complex: Offers fitness classes, a swimming pool, and community activities for all ages.

• Deer Lake Park: Great for weekend hikes, kayaking, and summer concerts at the Shadbolt Centre for the Arts.

🛍️ Shopping and Transit Hub: Everything Within Reach

This home offers unmatched urban access:

• Metropolis at Metrotown – B.C.’s largest shopping mall, with 450+ stores, restaurants, and Cineplex Cinemas.

• Crystal Mall – A popular local hub for Asian groceries, food courts, and community events.

• Easy commute via Metrotown SkyTrain Station or Royal Oak Station — linking you to Downtown Vancouver in under 20 minutes.

💡 Why Buy a Condo in Burnaby South?

Thinking, “How much does a condo in Burnaby cost?” The area remains competitively priced compared to downtown Vancouver, with strong value appreciation over time. Condos here offer:

• Lower average price per square foot

• High walkability scores

• Strong rental demand

🏠 About the Property – MLS® R3000090

This condominium offers:

• 3 Bedrooms, 2 Bathrooms

• Modern open-concept kitchen with updated appliances

• Private balcony with skyline views

• Secure underground parking and storage locker

📅 Join Us for the Open House

When: May 18, 2025 | 2PM to 4PM
Where: 305 4788 Hazel Street, Burnaby South V5H 4V9

Come tour the space, ask questions, and envision your life here. Our team will be on hand to walk you through features, financing options, and local market trends.

🔑 Ready to Make a Move?

Thinking of buying? See how we can help you achieve top results →

Let me guide you through every step — from discovery to deal.

Balanced Conditions, Active Buyers, and Strategic Considerations

Market Overview

April 2025 saw a continued moderation in sales activity, while inventory levels reached their highest point since 2019.

According to the Greater Vancouver REALTORS®, a total of 2,163 residential sales were recorded — a 23.6% decline from April 2024 and 28.2% below the 10-year seasonal average.

Despite the lower sales volume, buyer interest remains strong, especially for homes that are well priced and well presented. Many submarkets are still seeing busy open houses and multiple offers on select listings.

The current market is best described as balanced. Conditions don't significantly favour either buyers or sellers but instead reward those who take a data-informed, strategic approach to pricing and presentation.

Key Indicators – April 2025

The sales-to-active listings ratio stayed within balanced territory:

• Detached homes: 9.9% (buyers' market range)

• Attached homes: 17.5%

• Apartments: 15.7%

Pricing Trends by Property Type

Price movements have remained modest month-over-month, showing overall stability despite rising inventory. However, year-over-year benchmark prices are down across all property types, with the most notable decline in townhouses.

Area Highlights

Here's a snapshot of year-over-year composite benchmark price changes in key Metro Vancouver submarkets:

• Burnaby East: $1,131,200 (▼ 3.0%)

• Burnaby North: $1,109,600 (▼ 2.6%)

• Burnaby South: $1,123,800 (▼ 3.4%)

• New Westminster: $815,500 (▼ 2.7%)

• Coquitlam: $1,080,300 (▼ 4.0%)

• Vancouver East: $1,224,400 (▲ 0.1%)

• Vancouver West: $1,336,800 (▼ 0.8%)

• Port Moody: $1,088,900 (▼ 4.1%)

These numbers reflect a softening trend overall, although Vancouver East has shown some resilience, holding steady year-over-year.

Interpreting the Market

While overall sales volume is down, market activity is still present. Buyers remain engaged, particularly where homes are:

• Accurately priced relative to recent comparable sales

• Properly prepared and marketed

• Located in high-demand neighbourhoods or property segments

On the flip side, overpriced or poorly presented listings are stagnating, contributing to high inventory levels. This creates opportunities for well-prepared buyers, especially those who are pre-approved and ready to act.

For sellers, it’s a more competitive environment, particularly in the detached segment.

Broader Economic Context

Several economic trends are shaping buyer and seller behaviour:

• Interest Rates: The Bank of Canada held its policy rate at 2.75% in April after seven consecutive rate cuts from its 2023 high of 5%.

• Mortgage Costs: Fixed rates dropped in early April but ticked back up later in the month due to U.S. bond market volatility.

• Affordability: Mortgage rates are still low by recent standards, supporting buyer purchasing power.

• Federal Election: With Prime Minister Mark Carney now leading the Liberal government, markets and consumer confidence are still adapting to new policies.

• National Trends: Across Canada, home sales were down 9.3% year-over-year in March, with softening demand indicators nationally.

These broader conditions help explain why Metro Vancouver remains an active but selective market.

Final Thoughts

The April 2025 market presents a nuanced picture:

• Sales are down from last year

• Inventory is high

• Buyers are active but deliberate

• Strategy matters more than ever

Homes that are well priced, well presented, and well located are still drawing attention — often from multiple buyers. Others are sitting.

Whether you’re buying or selling, it's essential to understand your local market dynamics and how they connect to the broader real estate landscape.

Housing affordability, homeownership, and rental supply are key issues in the lead-up to Canada’s federal election on April 28, 2025. This guide provides a clear, factual, and non-partisan summary of what each major political party is proposing when it comes to real estate, housing, and rental markets—topics that directly affect Canadian homeowners, renters, and industry professionals.

✅ This post is strictly non-partisan.
To ensure neutrality, parties are listed in alphabetical order by party name, not by polling data, seat count, or leadership.

🟦 Conservative Party of Canada

Overall Focus: Cut red tape, lower taxes, and boost private-sector-led housing supply.

Key Proposals:

• Homebuilding Incentives: Require cities with high housing prices to increase homebuilding by at least 15% per year to maintain federal infrastructure funding. Municipalities exceeding targets receive bonuses.

• Zoning Reforms: Make federal transit and infrastructure funding conditional on allowing higher-density housing near transit.

• Federal Land Use: Sell at least 15% of federal real estate (e.g., office buildings, unused land) to build homes.

• Streamlining: Cancel the Housing Accelerator Fund and replace it with direct permit and approval incentives.

• Red Tape Reduction: Cut 25% of federal red tape and pass a law requiring the elimination of two regulations for every new one introduced.

• Skilled Trades Support: Bring back $4,000 apprenticeship grants and create 350,000 new skilled trades training spaces.

Homeownership & Affordability:

• Remove GST on new homes up to $1.3 million, saving buyers up to $65,000.

• Restore the full $5,000 Home Buyers’ Tax Credit.

• Extend amortization to 30 years for first-time buyers.

• Allow 7–10 year fixed-rate mortgages.

• Expand TFSA limits to $12,000 annually.

• Defer capital gains tax when reinvested in Canada.

Rental Housing:

• Support private investment in purpose-built rental housing by easing regulations and removing GST.

• Offer support to charities and Indigenous communities building rental units.

Foreign Buyers & Speculation:

• Maintain or extend the foreign buyer ban.

• Enforce transparency in beneficial ownership.

• Tighten anti-speculation measures.

🔗 Visit the Conservative Party website

🟩 Green Party of Canada

Overall Focus: Public housing, long-term affordability, and ending corporate profiteering in the rental market.

Key Proposals:

• Public Housing Expansion: Launch the largest public housing program since the 1970s.

• Affordability Standard: Redefine “affordable” housing as costing no more than 30% of household income.

• Permanently Affordable Housing: Use legal covenants to ensure affordability in publicly funded projects.

• Market Regulations:

  • Ban corporate acquisition of low-density housing.

  • Eliminate tax breaks for REITs.

  • Strengthen rules to prevent real estate speculation and money laundering.

Rental Market & Tenant Support:

• Declare a national housing affordability and homelessness emergency.

• Implement a national moratorium on evictions and introduce rent arrears support.

• Increase the Canada Housing Benefit.

• Provide supportive housing with wraparound services (mental health, addiction care).

• Work to eliminate homeless encampments through housing-first policies.

🔗 Visit the Green Party website

🔴 Liberal Party of Canada

Overall Focus: Federal leadership in homebuilding, financial supports for buyers, and zoning reform.

Key Proposals:

• Build Canada Homes (BCH): A new federal agency to directly develop housing, including on public land.

• Construction Target: Nearly 500,000 new homes per year.

• Prefabricated Housing Support: $25B in financing for mass timber and innovative homebuilders.

• Affordable Housing Financing: $10B in low-cost loans, including $6B for deeply affordable supportive housing.

• Housing Accelerator Fund: Continued funding to municipalities that fast-track zoning and permitting.

• Building Code Simplification: Faster approvals through streamlined federal standards.

Homeownership:

• GST eliminated on homes under $1 million for first-time buyers.

• Extend insured mortgage amortization to 30 years for new-builds.

• Tax-Free First Home Savings Account available.

• Maintain the $10,000 First-Time Home Buyers' Tax Credit.

• Propose a Home Buyers’ Bill of Rights to ban blind bidding and ensure inspections.

Rental Housing:

• Expand the Canada Housing Benefit.

• Continue GST removal on new rental projects.

• Collaborate with provinces to protect tenants' rights (while respecting provincial jurisdiction).

Foreign Buyers & Speculation:

• Extend the foreign buyer ban to 2027.

• Maintain the 1% vacant property tax on non-resident-owned homes.

• Enforce the anti-flipping tax for properties sold within 12 months.

🔗 Visit the Liberal Party website

🟠 New Democratic Party (NDP)

Overall Focus: Massive public investment in affordable housing, tenant protections, and curbing corporate control of rentals.

Key Proposals:

• 3 Million Homes by 2030, including:

  • 500,000 affordable homes.

  • 100,000 rent-controlled homes on federal land.

• Dedicate all suitable federal land to housing development.

• Double the Public Land Acquisition Fund to help build more non-market homes.

• Create a Community Housing Development Bank to finance Indigenous, co-op, and nonprofit housing.

• Replace the Housing Accelerator Fund with a permanent $16B housing strategy.

Rental Market & Tenant Rights:

• National rent control standards tied to federal funding.

• Immediate rent subsidies for people spending too much of their income on rent.

• Ban renovictions, demovictions, fixed-term leases, and rent price collusion.

• Expand the federal vacancy tax.

• Tax profits from flipped homes sold within 5 years as income (unless principal residence).

• Create a fund for nonprofits to buy at-risk rental buildings.

Homeownership:

• CMHC to offer low-interest, public-backed mortgages to eligible first-time buyers.

Foreign Buyers & Speculation:

• Permanent foreign buyer ban, including numbered companies.

🔗 Visit the NDP website

🟣 People’s Party of Canada (PPC)

Overall Focus: Reduce demand by curbing immigration, eliminate government housing programs, and allow market-led correction.

Key Proposals:

• Freeze Immigration: Temporary halt on new permanent residents; later capped at 100,000–150,000/year.

• Eliminate CMHC and federal housing subsidies.

• Repeal Buyer Grants & Retrofits: End all first-time buyer grants and energy retrofit programs.

• Respect Local Zoning: Oppose federal involvement in municipal land use planning.

• Anti-Speculation Measures:

  • Support provincial restrictions on foreign buyers.

  • Work with provinces to combat money laundering in real estate.

🔗 Visit the PPC website

🏢 Industry Perspectives

CREA & BCREA

• Advocate for supply-focused policies and tools to support homeownership.

• Endorse extending the ban on non-resident buyers.

• Recommend a national expert roundtable to review new housing policies before implementation.

📌 Final Word

Canada’s housing crisis is complex, and the federal election brings several competing visions on how to address it. Whether you’re a buyer, seller, investor, or renter, this guide is designed to keep you informed and equipped with facts that directly affect your real estate decisions.

🔍 For the full, official platforms, visit the party websites listed above.

As we step into April, the Metro Vancouver real estate market continues to send a clear message: conditions are aligned in buyers’ favour — yet many are still sitting on the sidelines.

📉 Sales Slowdown Despite Buyer-Friendly Conditions

March 2025 recorded 2,091 residential sales, a 13.4% decrease from March 2024, and a notable 36.8% below the 10-year seasonal average. While sales were up from February (as expected seasonally), this past month was the quietest March for sales activity since 2019.

What makes this especially striking is that today’s environment is, by many measures, the most buyer-friendly we’ve seen in years:

• Benchmark prices have eased from last year’s highs.

• Mortgage rates are at multi-year lows.

• Inventory is up, with 14,546 active listings — the highest in almost a decade.

Yet, buyers have been slow to act.

🏷️ Price Stability Amid Growing Supply

Prices have remained relatively steady across most home types:

• All residential properties: Benchmark at $1,190,900, up 0.5% from February, but down 0.6% from March 2024.

• Detached homes: Benchmark at $2,034,400, up 0.4% month-over-month, and 0.8% year-over-year.

• Townhomes: Benchmark at $1,113,100, up 0.2% monthly, but down 0.8% annually.

• Apartments: Benchmark at $767,300, up 1.0% from February, but down 0.9% from last year.

These small month-over-month price increases are more indicative of seasonal trends than a true shift in momentum — for now.

📊 Sales-to-Active Listings Ratio: Balanced, but Telling

The sales-to-active listings ratio for March 2025 sat at 14.9%:

• Detached homes: 10.3% (buyer’s market territory)

• Apartments: 16.2% (balanced market)

• Townhomes: 21.5% (approaching seller’s market)

These numbers suggest prices are likely to hold steady or face slight downward pressure — especially in the detached segment. However, the tight inventory in the townhouse category means that segment may remain more competitive.

🏙️ Local Market Snapshot

A few highlights from core areas:

• Burnaby North: Residential benchmark rose 0.7% month-over-month to $1,009,600.

• Coquitlam: Slight dip of 0.1%, now at $1,087,500.

• New Westminster: Down 0.1% month-over-month, with a benchmark of $818,700.

• Vancouver East: Up 0.4%, reaching $1,222,100.

• Vancouver West: Benchmark at $1,345,900, up 0.5% from February.

• Port Moody: Notable drop of 1.1%, likely tied to softer activity in higher-priced segments.

🤔 What's Holding Buyers Back?

Despite favourable fundamentals, economic and political uncertainty — particularly related to the new U.S. administration and potential tariffs — seems to be influencing buyer psychology. Some buyers may also be waiting for further price adjustments or struggling to find the right product in a market where condition and affordability are now more important than ever.

That said, some smart buyers are moving, especially those who understand how to leverage low rates and increased selection. There are still multiple offers happening in well-priced, well-presented listings — particularly in townhomes and west side condos.

📈 What to Watch Going Forward

The current market feels reminiscent of early 2023 — slow start, but signs that momentum could build into late spring and summer. Much will depend on how interest rates and broader economic signals evolve in the coming months.

✅ Key Takeaways

• Buyers: You have more choice and better borrowing conditions than we've seen in years. If you're financially ready, this may be an ideal window to explore your options before competition potentially ramps up.

• Sellers: With more listings coming online, strategic pricing and presentation are crucial. Townhomes remain in demand — especially those in family-oriented communities.

• Investors: If you're holding or selling rental properties, the uptick in listings might reflect broader landlord activity. Be strategic about when and how to list.

📞 Ready to Navigate the Market?

Whether you're buying, selling, or simply trying to understand your options, we're here to help. Get in touch for a personalized market consultation, and let’s talk about your next steps.

A Fantastic Home in a Thriving Community

We are thrilled to announce the successful sale of a beautiful townhouse in New Westminster! Located in a vibrant neighborhood with top-rated schools, parks, and shopping centers, this property (MLS #: R2966204) is now off the market. If you’ve been considering buying or selling in this sought-after area, now is the time to act!

A Look at the Property: Classic Charm with Future Potential

• MLS #: R2966204

• Property Type: Townhouse

• Bedrooms: 4

• Bathrooms: 3

• Floor Size: 2,398 sqft

• Zoning: RT-2A

• School Catchment:

  • Richard McBride Elementary

  • New Westminster Secondary

Why This Townhouse Was a Hot Listing

With a 27.60% sales-to-active ratio, the New Westminster market remains highly competitive. This townhouse stood out for several reasons:

• Prime Location: Situated in a family-friendly neighborhood with easy access to Richard McBride Elementary and New Westminster Secondary.

• Spacious and Modern: Designed for comfortable living, offering ample space for families or professionals.

• Convenient Amenities: Close to local parks, shopping centers, and transit options for effortless commuting.

Discover the Charm of New Westminster

Living in New Westminster means enjoying a perfect blend of urban convenience and natural beauty. Here are some highlights of the area:

• Parks & Recreation: Queens Park is a community favorite, offering green spaces, sports facilities, and playgrounds.

• Shopping & Dining: Columbia Street and Royal City Centre feature a variety of shops, restaurants, and cafes for every taste.

• Easy Transit Access: The property is near SkyTrain stations and major roads, making commuting to downtown Vancouver a breeze.

Thinking of Selling? Let’s Make It Happen!

This successful sale proves that homes in New Westminster are in high demand. If you’re thinking about selling, now is the perfect time to maximize your property’s value.

Contact us today to learn how we can help you achieve top results!

Balanced Market Conditions Continue as Inventory Rises and Sales Slow

February 2025 saw Metro Vancouver’s housing market maintain balanced conditions, as inventory levels increased while sales activity slowed. With a potential Bank of Canada rate cut expected in mid-March, both buyers and sellers are navigating a market that offers the highest level of selection seen since pre-pandemic times.

Market Overview: Sales & Inventory Trends

• Sales: Residential sales across Metro Vancouver totaled 1,827 in February, an 11.7% decrease from February 2024 and 28.9% below the 10-year seasonal average.

• New Listings: 5,057 new listings entered the market, marking a 10.9% increase year-over-year and 11.6% above the 10-year seasonal average.

• Total Listings: Active listings reached 12,744, representing a 32.3% increase from February 2024 and 36.4% above the 10-year seasonal average.

• Sales-to-Active Listings Ratio: The overall ratio was 14.8%, indicating a balanced market where prices tend to remain stable.

📌 Market Insight:
The increase in new and active listings is giving buyers more choices, but demand remains tempered due to economic uncertainty and higher borrowing costs.

Price Trends & Benchmark Values

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver sits at $1,169,100, reflecting:

• A 1.1% decrease from February 2024.

• A 0.3% decline compared to January 2025.

📉 What This Means:
With inventory growing and sales slowing, home prices are experiencing a flattening trajectory, consistent with balanced market conditions.

Breakdown by Property Type

Detached Homes

• Sales: 477 units sold, down 14.8% from February 2024.

• Benchmark Price: $2,006,100, up 1.8% year-over-year.

• Sales-to-Active Listings Ratio: 10.7%, indicating mild downward pressure on prices.

Townhouses (Attached Homes)

• Sales: 359 units sold, down 10.9% year-over-year.

• Benchmark Price: $1,087,100, down 1.2% from February 2024.

• Sales-to-Active Listings Ratio: 18.5%, suggesting a more balanced townhouse market.

Condominiums (Apartments)

• Sales: 976 units sold, down 10.6% year-over-year.

• Benchmark Price: $747,500, down 2.8% from February 2024.

• Sales-to-Active Listings Ratio: 16.8%, maintaining stable conditions.

Regional Highlights: A Closer Look at Pricing and Market Trends

Each region in Metro Vancouver tells a different story, shaped by buyer demand, available inventory, and local economic factors. Here’s what the latest benchmark prices reveal about the housing landscape across Burnaby, New Westminster, Vancouver, and the Tri-Cities.

🏡 Burnaby: Market Stability Amid Growing Inventory

Burnaby continues to experience balanced market conditions, with slight price adjustments across all property types.

• Burnaby East: $1,139,200 (Detached: $1,959,700 | Townhouse: $915,800 | Apartment: $784,900)
  📌 Insight: Prices in Burnaby East remain relatively stable, with detached homes seeing stronger resilience than other property types. Townhouses and apartments here offer more affordability compared to other Burnaby submarkets.

• Burnaby North: $981,700 (Detached: $2,085,400 | Townhouse: $911,000 | Apartment: $732,000)
  📌 Insight: Benchmark prices have slightly softened, reflecting a balanced market where buyers have more choice. Apartments are holding steady at $732,000, making this a more accessible entry point for first-time buyers.

• Burnaby South: $1,116,000 (Detached: $2,207,300 | Townhouse: $1,108,700 | Apartment: $823,100)
  📌 Insight: Burnaby South remains one of the higher-priced submarkets, particularly in the townhouse segment, where benchmark values exceed $1.1M. The price stability in this area suggests steady buyer demand despite increased inventory.

🏡 New Westminster: A Resilient Market for Buyers & Sellers

• Overall Benchmark Price: $823,700 (Detached: $1,574,200 | Townhouse: $950,700 | Apartment: $657,600)
  📌 Insight: New Westminster continues to offer strong value compared to its neighboring cities, making it an attractive choice for first-time buyers.

🏡 Vancouver: A Tale of Two Markets

Vancouver's market remains diverse, with pricing shifting differently across the East and West.

• Vancouver East (Benchmark: $1,215,300) remains more affordable than Vancouver West, particularly for apartment buyers at $684,800.

• Vancouver West (Benchmark: $1,320,000) continues to command premium prices, with detached homes averaging $3.49M.

🏡 The Tri-Cities: A Market in Transition

The Tri-Cities (Coquitlam, Port Moody, and Port Coquitlam) continue to attract buyers seeking affordability and space, particularly as Vancouver’s prices remain high.

• Coquitlam (Benchmark: $1,080,000) shows strong demand, with affordable apartment pricing ($732,000) keeping buyers engaged.

• Port Moody (Benchmark: $1,077,900) remains a higher-priced area, with detached homes over $2M.

• Port Coquitlam (Benchmark: $952,700) remains one of the most affordable options, making it a strong choice for first-time buyers.

Market Factors to Watch

🔹 Interest Rates: A Bank of Canada rate cut expected in March could make mortgages more affordable, stimulating demand.
🔹 Spring Market Activity: Historically, March to June sees increased buyer interest—watch for shifts in sales trends.
🔹 Economic Factors: Tariff-related economic uncertainties may impact investment and housing demand.

Key Takeaways for Buyers & Sellers

🔹 For Buyers:

• More inventory means greater choice and less competition.

• Potential rate cuts could improve affordability in the coming months.

🔹 For Sellers:

• Pricing strategically is essential in this balanced market—overpricing may lead to longer time on market.

• Spring could bring higher buyer activity, but patience is key.

Final Thoughts

With Metro Vancouver real estate continuing to balance out, both buyers and sellers are benefiting from more predictable conditions. If you're considering a move, let's discuss how this evolving market impacts your goals.

📩 Thinking of Buying or Selling?
Reach out for a personalized market strategy tailored to your needs.