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<\/a><\/p>\nFebruary 2025 Market Update: Buyers on Pause, Market in Wait-and-See Mode<\/strong> Burnaby Townhomes Around $1M\u2014Still Moving Quickly!<\/strong><\/p>\n Despite the overall market slowdown, townhomes priced around $1M in Burnaby are selling within a week or two<\/strong>. Many well-priced listings are moving fast, especially in both Burnaby North and South<\/strong>. If you’re curious about recent sales, here are some examples from Burnaby South<\/strong><\/a> and Burnaby North<\/strong><\/a> to give you an idea of what\u2019s been moving.<\/p>\n My Townhome Checklist: What to Look For<\/strong> If you’re considering buying or selling, let\u2019s chat. The market may be slow, but well-priced properties are still moving!<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" February 2025 Market Update: Buyers on Pause, Market in Wait-and-See Mode The market remains slow, with most buyers in idle mode, waiting to see what happens next with interest …<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"_links":{"self":[{"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/posts\/1188"}],"collection":[{"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/comments?post=1188"}],"version-history":[{"count":3,"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/posts\/1188\/revisions"}],"predecessor-version":[{"id":1193,"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/posts\/1188\/revisions\/1193"}],"wp:attachment":[{"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/media?parent=1188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/categories?post=1188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/tags?post=1188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nThe market remains slow, with most buyers in idle mode, waiting to see what happens next with interest rates<\/strong>. Many are holding off on making a move until further rate cuts materialize. Meanwhile, the recently announced U.S. tariff, effective March 4, 2025<\/strong>, adds another layer of uncertainty.<\/p>\n
\n\u2714\ufe0f Minimum 1,000 sq. ft.<\/strong> \u2013 Anything smaller tends to feel too tight for units with more than one floor.
\n\u2714\ufe0f Two-storey over three-storey layouts\u2014huge difference in livability!<\/strong> With land prices rising, most newer townhome developments are built taller rather than wider. This often means narrower layouts with more stairs<\/strong>. If space and functionality matter, consider slightly older complexes<\/strong>\u2014many offer better layouts<\/strong> and, if well-maintained, can be a smarter choice than a newer development that lacks proper upkeep.
\n\u2714\ufe0f Attached garage?<\/strong> It depends on the area.<\/strong> Many central Burnaby townhomes (Metrotown, Central Park, Brentwood) have underground parking instead.
\n\u2714\ufe0f Powder room on the main level is a must!<\/strong> It\u2019s convenient for guests and keeps your upstairs space private.
\n\u2714\ufe0f Rooftop balconies\u2014Yay or Nay?<\/strong> They\u2019re a great feature, but they require maintenance. Balcony flooring typically needs replacing every 20\u201330 years, and uncovered ones wear out even faster without regular upkeep.
\n\u2714\ufe0f Wood-framed townhouse complexes over concrete high-rise\/ townhomes complexes?<\/strong> Generally, yes.<\/strong> Strata fees in concrete townhomes (built as part of a high-rise complex)<\/strong> tend to be higher because they are calculated based on unit entitlement<\/strong>\u2014meaning the larger the unit, the more expensive the fees. Plus, repairs and heating costs<\/strong> in concrete townhomes are usually on the higher side compared to traditional townhome complexes.<\/p>\n