Buyers currently have more choice in Burnaby's multi-family market, with homes taking longer to sell. In the past 30 days, 10 multi-family properties sold across Burnaby at an average sold price of $1,475,300. Multi-family properties are selling in an average of 45 days on the market. The absorption rate is 6% — meaning 6% of active multi-family inventory sells each month. Average multi-family prices in Burnaby are down 8.9% compared to the 90-day average of $1,619,038. If you're considering buying a multi-family property in Burnaby, you have more time to negotiate — though well-priced homes still attract attention.
