{"id":1216,"date":"2025-07-04T21:07:36","date_gmt":"2025-07-05T01:07:36","guid":{"rendered":"https:\/\/www.exponentialrealty.ca\/blog\/?p=1216"},"modified":"2025-07-04T21:07:50","modified_gmt":"2025-07-05T01:07:50","slug":"july-2025-real-estate-stats-comments","status":"publish","type":"post","link":"https:\/\/www.exponentialrealty.ca\/blog\/july-2025-real-estate-stats-comments\/","title":{"rendered":"July 2025 Real Estate stats\/comments"},"content":{"rendered":"

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\ud83d\uddde\ufe0f June 2025 Market Newsletter | Exponential Real Estate Group<\/strong><\/p>\n

\ud83d\udcc9 Market Snapshot:<\/strong>
\nThe overall market remains steady, but we’re noticing a shift\u2014more accepted offers are coming through, and the tug-of-war between buyers and sellers is softening. Some sellers are starting to adjust.<\/p>\n

\ud83c\udfe1 Detached Homes \u2013 Burnaby vs. Richmond:<\/strong>
\nDetached home prices in Burnaby have continued to rise steadily over the past three years. In contrast, Richmond has seen a ~5% price decline since mid-2024, according to sales data. A reminder that real estate is highly local, and not all markets move in sync.
\n\ud83d\udc49 View the 3-year detached price chart:
\nDetached Sales \u2013 Burnaby & Richmond<\/a><\/p>\n

\ud83c\udfe2 Condo Market: Pullback Today, Shortage Tomorrow?<\/strong>
\nCondo prices in some areas have dropped up to 20%. Many developers have paused new builds, which could lead to a condo supply crunch in 5\u201310 years. Some pre-sales are already slated for completion as far out as 2028\u2014it\u2019ll be interesting to see what happens by then.<\/p>\n

\u2753Do Properties Lose Value as They Age?<\/strong>
\nThis is a question we get often. While buildings themselves do depreciate, land appreciates\u2014especially in land-constrained areas like Greater Vancouver.<\/p>\n

To illustrate this, we often reference BC Assessment values. While they\u2019re not equal to market value, they clearly show how value is divided between:<\/p>\n