Thought of the day - How bad is it in Burnaby for high end sales?

A brief, quickie post for you tonight.

Interesting statistic for you from Observer, who puts together the blog Vancouver Price Drop.

The Vancouver suburb of Burnaby sold 5 "high-end" homes in July that were valued at $1.4 million or higher.

There are currently 154 homes in Burnaby listed at $1.4 million or more.

That's a shocking 30.8 month of inventory for these "high end" homes.

Meanwhile VMD has grouped together the July 2012 sales data and taken the total inventory and divided it by the published sales figures. Here is what he gets for Single Family Houses (SFH) and months of inventory (MOI):

Richmond SFH: 19.5 MOI
Van West SFH: 12.5 MOI
West Van SFH: 11.5 MOI
Burnaby SFH: 10.5 MOI
Coquitlam SFH: 8.2 MOI
Van East SFH: 6.7 MOI

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