Single family detached home prices in Burnaby surpass average of $2M

Burnaby's benchmark prices for single-family detached homes exceed $2 million, with Burnaby East rising 3.2% to $2,007,200, while North and South saw slight declines. Residential properties also decreased, with Burnaby South townhouses dropping 3.5% to $1,050,100. Total sales in Greater Vancouver fell 17.1% to 1,904, despite a 4.2% increase in listings. Sales remain about 20% below the 10-year average, attributed to high borrowing costs, even after a recent interest rate cut by the Bank of Canada.