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SFU, UniverCity January 2012 – A Month in Review

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The Simon Fraser University area, specifically UniverCity of Burnaby North real estate market has had an active start to the year.

Since the beginning of this year there have been 35 new listings that have come to market.  Of the 35 new listings 5 are located in Highland House, Liberty Homes new development project at SFU.  Total activity inventory now sits at 53 homes.  Total resale inventory, once we remove both active listings from Highland House and Origin by Porte Development, is 43.  This represents roughly 3.2% of total resale properties in the area.  Average list price is $431,939 or $450.00 per sqft including homes in new construction. 

According to MLS data as of February 6, 2012, there have been a total of 5 sales this year.  The average sale price is $376,941 or $394.43 per sqft.  What is also interesting is the average days-on-market for these 5 sales is 53 days.   In comparison there were 6 sales registered through MLS in January 2011, the average sale price was $372,833 and the average days-on-market was 62.  So comparing a single month year-over-year shows that the market is relatively unchanged. 

During the past month, we have made two exciting announcements.  On February 26, 2012 I have the privilege of hosting an exclusive event in conjunction with Porte Development for their new Lift project.  If you have not already heard about the project click here for more details.

Also, Hungerford Properties has released the name of their upcoming project, and you heard it from www.liveatsimonfraser.com first!  Altitude is expected to come to market sometime in early spring 2012.  Watch for more exciting news on this upcoming project.

If you have any further questions please contact us directly.

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