the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION
published February 2021
table of contents
02 INTRO
Each month, we release the rennie review, a detailed look at the real estate marketplace in the Vancouver Region. This report examines the market stats by sub-market, provides updates on current rennie projects, and more.
03 WHAT YOU NEED TO KNOW
04 FEATURED LISTINGS
NEIGHBOURHOOD PROFILES
05 08 11 14 17 20 23 26 29 32 35 38 41 44
Vancouver Region
Greater Vancouver Board Area Fraser Valley Board Area
Burnaby North Burnaby South
Ryan Berlin DIRECTOR OF INTELLIGENCE & SENIOR ECONOMIST rberlin@rennie.com
Bowen Behan Pausey BUSINESS DATA ANALYST bbehan@rennie.com
Coquitlam
Langley
North Vancouver
Richmond Squamish
Surrey
Vancouver East Vancouver West West Vancouver
49 CURRENT PROJECTS
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of February 6, 2021. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 2
relentless demand from 2020 continues into January
With the housing market momentum generated in the second half of 2020 carrying right through the winter holidays and into 2021, January set a record for MLS sales. In turn, the number of homes available for sale has dwindled.
housing, with year-over-year detached and townhome inventory down 31% and 21%, respectively, while condo listings were 18% higher. Having said that, January’s supply of condo listings was still 2% lower than the past-decade average for the month (detached and townhome supply were lower by 42% and 28%, respectively), so in a longer-term context the availability of condos remains limited at the margin. The month-to-date data for February tell a similar tale, with the housing market’s foundation being buttressed by a regional economy that boasts the lowest unemployment rate among major Canadian metro areas and employment that has continued to recover (albeit at a slowing rate) against a backdrop of job losses at the national level. The relatively strong performance of our local economy is something we can all feel good about; here’s to hoping we achieve more balance in our housing market at some point in 2021.
surprising), with total MLS sales surpassing 4,000 for the first time in any previous January in this market’s history (somewhat surprising). To put a finer point on it, January’s sales count of 4,003 was 4% higher than the previous January high, reached in 2016; it was 57% greater than the past- decade January average; and it was 62% higher than the count from this time last year (January 2020). Notably, buyers continued to pursue homes of all types, with year-over-year sales counts up by 48% for condos, 63% for townhomes, and by 78% for detached homes. Relentless resale demand has worked to significantly constrain supply (inventory), with the 12,112 total MLS listings in January down 12% versus last year and 25% versus the past-decade January average. This was wholly driven by ground-oriented
The transition from one year to another is often accompanied by a renewed sense of optimism and hope for (positive) change, and this was perhaps never truer than when we watched the calendar flip from 2020 to 2021. Indeed, there was (and is) much to feel good about here in the early stages of 2021, including the initial wave of Covid-19 vaccinations being administered, our economy’s continued recovery, and the feeling that we are a little closer to the day when we can interact with our friends, family, and co-workers in ways we haven’t for almost a whole year now. Of course, not everything has changed or is expected to change in the near term, and this includes the housing market dynamics that were established in this region midway through 2020. More specifically, home buyers in the Vancouver Region remained very active in the first month of 2021 (not
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of February 6, 2021. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 3
featured listings SEARCH FOR THE HOME YOU LOVE AT RENNIE.COM
Townhome $3,299,000 | VAN WEST
Carina $2,450,000 | COAL HARBOUR 1604-1233 W Cordova Street 2 Bed, 1,241 SF Jenna Van Alstine 778.558.3355
House $2,198,000 | WEST VAN
1529 Atlas Lane 2 Bed, 2,959 SF Nagib Karim PREC* 604.999.5887
279 Rabbit Lane 3 Bed, 1,894 SF Ryan Wong PREC* 604.551.7966
Townhome
House
House
$1,768,000 | VAN WEST
$1,650,000 | CHILLIWACK
$1,498,000 | MT. PLEASANT 2730 St. Catherines Street 5 Bed, 2,738 SF
1503 Atlas Lane 4 Bed, 1,587 SF Vivien Ma PREC* 604.828.2268
5375 Crimson Ridge 5 Bed, 4,997 SF Clarke Mallory PREC* 604.316.9917
Brandan Price PREC* 604.765.9555
Townhome
Townhome
Addition Living
$1,489,000 | FALSE CREEK
1,399,900 | NORTH VAN
$1,299,900 | DOWNTOWN 2003-1133 Hornby Street 2 Bed, 1,038 SF
201-138 W 1st Avenue 2 Bed, 1,540 SF Ryan Wong PREC* 604.551.7966
3-3597 Malsum Drive 3 Bed, 2,043 SF Michael McTavish 778.688.7267
Nick Prastos 604.307.3953
House
The Dawson
House
$1,099,900 | BURNABY Ph501-4468 Dawson Street 3 Bed, 1,166 SF
$1,190,000 | PORT COQUITLAM
$1,049,000 | LANGLEY
1648 Mchugh Close 5 Bed, 2,551 SF Brandon Blue PREC* 604.999.7792
20572 96a Avenue 5 Bed, 2,545 SF
Jeremy Sellmer PREC* 778.984.4028
Danny Chow PREC* 604.765.2469
Jameson House
Beverly House $926,000 | VAN WEST 312-1561 W 57th Avenue 1 Bed, 839 SF
Electric Avenue $839,500 | DOWNTOWN 1406-938 Smithe Street 2 Bed, 761 SF
$1,012,000 | DOWNTOWN 1507-838 W Hastings Street 1 Bed, 945 SF Christopher Boyd PREC* 604.351.0533
Diana Wang PREC* 604.518.8578
Eric Zamora PREC* 778.389.4556
Hudson $825,000 | DOWNTOWN 601-610 Granville Street
Marine Gateway $549,900 | VAN WEST 708-489 Interurban Way 1 Bed, 575 SF
The Carleton $537,900 | BURNABY 308-4223 Hastings Street 1 Bed, 626 SF Lorenzo Daminato PREC* 604.657.8121
1 Bed, 864 SF Matt Stone 604.782.2614
Derek Kai PREC* 604.868.1666
Copyright © 2021 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of February 3, 2021. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
4
DETACHED JANUARY vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 13 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
31 % DOWN
19 % UP
-
78 % UP
SELLER’S 32 %
The number of detached listings in the Vancouver Region in January, at 4,631, was 0.4% higher month- over-month but 31% lower year-over-year. The 1,500 detached sales in January were 25% lower vs last month but 78% higher vs last year. The sales-to-listings ratio decreased to 32%, as the Vancouver Region’s detached market remained in seller’s market territory. The benchmark price in January was $1.37M, 1.9% above December and 13% higher vs January 2020. The average sold price was $1.60M, 5% above the previous month and 19% higher vs January 2020.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
4,631 1,500
4,614 2,010
0.4% -25% -26%
6,676
-31% 78% 157%
TOTAL SALES
841 13%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
32%
44%
$1,374,900 $1,349,100 1.9% $1,219,000
13% 19%
$1,603,637 $1,525,601
5% $1,348,100
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.37
$1.33
$1.30
$1.27
$1.25
$1.24
$1.22
1.93
1.90
1.81
8,259
8,096
7,346
1.09
1.09
7,222
1.06
6,820
6,676
4,631
2,347
2,126
2,126
1,496
1,500
891
841
Jan-20
Dec-20
Jan-21
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES
TOTAL INVENTORY
S L RATIO
SELLER'S MARKET
BALANCED
BUYER'S MARKET
. . . 0 0 0 0 0
S-L RATIO SALES INVENTORY
Copyright © 2021 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of February 3, 2021. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
5
TOWNHOME JANUARY vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 6 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
21 % DOWN
4 % UP
4 % UP
63 % UP
SELLER’S 51 %
The number of townhome listings in the Vancouver Region increased 4% from last month, settling at 1,632, but were 21% below January 2020. Townhome sales, at 835, were 17% lower vs last month but 63% above January 2020. The sales-to-listings ratio decreased to 51% in January, as the Vancouver Region’s townhome seg- ment remained in a seller’s market. The benchmark price in January was 0.5% above December, at $712,400, and was 6% higher year-over-year. The average sold price was $762,940 in January, (increasing 3% vs December) while the average PSF sales price was $505 (increasing 1.2%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,632
1,571 1,005
4%
2,073
-21% 63% 108%
TOTAL SALES
835 51%
-17% -20%
511 25%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
64%
$712,400 $708,800 $762,940 $742,416
0.5% $674,000 3% $735,749
6% 4% 4%
$505
$498
1.2%
$487
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$712,400
$674,000 $682,500 $686,500 $693,600 $701,000 $705,500
3,060
2,984
2,468
2,429
2,405
2,073
1,632
1,189
1,089
1,066
792
511
486
835
VANCOUVER REGION REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
182
4+ bdrms
BUYER'S MARKET
297
459
3 bdrms
880
194
<3 bdrms
. . . . 0 0 0 0
459
S-L RATIO SALES INVENTORY
Copyright © 2021 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of February 3, 2021. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
6
CONDO JANUARY vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO 28 %
MARKET SUMMARY ›
5 % UP
2 % UP
18 % UP
48 % UP
There were 5,549 condo listings in the Vancouver Region in January, 2% below December but 18% higher vs January 2020. January condo sales decreased by 19% month-over- month but were 48% above January 2020. The sales-to-listings ratio for condos in the Vancouver Region decreased to 28%, remaining a seller’s market. The condo benchmark price in January was $655,400, increasing 0.5% from December and 3% higher vs January 2020. The average sold price was $628,772, 4% above last month; the average PSF sales price was $727, up 2% from last month.
VS
VS
VS
VS
VS
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
5,549 1,565
5,689 1,935
-2%
4,718 1,060
18% 48% 26%
TOTAL SALES
-19% -17%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
28%
34%
22%
$655,400 $651,900 $628,772 $607,447
0.5% $638,500 4% $601,616
3% 5% 2%
$727
$710
2%
$710
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$638,500 $661,000 $657,300 $656,000 $656,600 $651,000 $655,400
8,621
7,902
7,769
5,549
6,213
5,785
4,718
2,079
1,832
1,799
1,565
1,512
1,060
846
VANCOUVER REGION REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
91
3+ bdrms
BUYER'S MARKET
634
895
2 bdrms
3,214
579
<2 bdrms
. . . . 0 0 0 0
1,712
S-L RATIO SALES INVENTORY
Copyright © 2021 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of February 3, 2021. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
7
DETACHED JANUARY greater vancouver board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 11 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
29 % DOWN
15 % UP
-
70 % UP
SELLER’S 25 %
Detached listings in the REBGV decreased to 2,961 in January, 0.6% below December and 29% lower vs January 2020. Detached sales, at 752, decreased 27% compared to December but were 70% higher vs January 2020. The sales-to-listings ratio decreased to 25%, as the REBGV detached market remained in seller’s market territory. The detached benchmark price in January was $1.58M, up 1.4% month-over-month and an 11% increase year-over-year. The average sold price was $1.82M, up 3% from the previous month and 15% higher year-over-year.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
2,961
2,979 1,033
-0.6% 4,185
-29% 70% 140%
TOTAL SALES
752 25%
-27% -27%
442 11%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
35%
$1,576,800 $1,554,600 1.4% $1,423,100
11% 15%
$1,822,991 $1,769,642
3% $1,592,098
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.58
$1.54
$1.51
$1.48
$1.46
$1.44
$1.42
1.93
1.91
1.82
4,965
4,816
1.20
1.20
1.17
4,405
4,362
4,248
4,185
2,961
1,320
1,133
1,071
859
752
544
442
Jan-20
Dec-20
Jan-21
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES
TOTAL INVENTORY
S L RATIO
. . . 0 0 0 0 0 S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET
Copyright © 2021 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of February 3, 2021. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
8
greater vancouver board area
TOWNHOME JANUARY
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
20 % DOWN
3 % UP
6 % UP
38 % UP
SELLER’S 39 %
The number of townhome listings in the REBGV increased to 947 in January, 4% above December but 20% lower year-over-year. Townhome sales in January, at 374, were down 26% vs December but 38% above last year. The sales-to-listings ratio decreased to 39% as the REBGV townhome market remained a seller’s market. The townhome benchmark price in January was $815,800, 0.2% above December and 4% higher than in January 2020. The average sold price was $901,260, with an average PSF sales price of $621 (up 4% and 3%, respectively, vs December).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 908 504 56%
% Change
No.
% Change
TOTAL LISTINGS
947 374 39%
4%
1,180
-20% 38% 72%
TOTAL SALES
-26% -29%
271 23%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$815,800 $813,900 $901,260 $868,538
0.2% $781,800 4% $874,385
4% 3% 6%
$621
$601
3%
$587
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$781,800 $790,200 $792,700 $797,700 $809,900 $814,800 $815,800
1,689
1,678
1,368
1,354
1,372
1,180
947
634
535
534
409
374
271
263
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
67
4+ bdrms
BUYER'S MARKET
157
208
3 bdrms
491
99
<3 bdrms
. . . . 0 0 0 0
303
S-L RATIO SALES INVENTORY
Copyright © 2021 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of February 3, 2021. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
9
greater vancouver board area
CONDO JANUARY
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
4 % UP
1.9 % UP
18 % UP
47 % UP
SELLER’S 28 %
The number of condo listings in the REBGV decreased to 4,248 in January, 5% below December but 18% higher vs January 2020. At 1,194, condo sales were 19% lower month-over- month but 47% higher year-over-year. The sales-to-listings ratio dipped to 28%, as the REBGV condo market remained favourable to sellers. The condo benchmark price in January was $680,800, 0.6% above December and up 2% com- pared to January 2020. The average sold price was $690,548 (increasing 4% from December) with an average PSF sales price of $800 (3% higher vs December).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
4,248 1,194
4,454 1,478
-5%
3,610
18% 47% 25%
TOTAL SALES
-19% -15%
814 23%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
28%
33%
$680,800 $676,500 $690,548 $664,777
0.6% $666,000 4% $665,190
2% 4%
$800
$780
3%
$785
1.9%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$666,000 $690,000 $686,500 $682,500 $683,500 $676,500 $680,800
6,686
6,187
5,928
4,664
4,248
4,359
3,610
1,598
1,402
1,370
1,194
1,181
814
655
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
79
3+ bdrms
BUYER'S MARKET
503
629
2 bdrms
2,364
486
<2 bdrms
. . . . 0 0 0 0
1,392
S-L RATIO SALES INVENTORY
Copyright © 2021 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of February 3, 2021. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
10
fraser valley board area
DETACHED JANUARY
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 15 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
33 % DOWN
28 % UP
-
87 % UP
SELLER’S 45 %
The number of January detached listings in the Fraser Valley board area was 2% higher vs December (at 1,670) but 33% below January 2020. Detached sales decreased 23% from December, to 748, but were up 87% vs January 2020. The sales-to-listings ratio decreased to 45%, as the board area’s condo market remained in seller’s market territory. The benchmark price in January was $1.11M, up 3% vs December and 15% higher year-over-year. The average sold price in January was $1.38M, 9% higher month-over-month and 28% higher year-over-year.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,670
1,635
2%
2,491
-33% 87% 180%
TOTAL SALES
748 45%
977 60%
-23% -25%
399 16%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$1,106,500 $1,079,500 $1,383,109 $1,267,571
3% $960,800 9% $1,077,806
15% 28%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$1,106,500
$1,032,700 $1,061,500
$960,800 $987,800 $990,400 $1,008,000
1.91
1.87
1.77
3,294
3,280
1.32
1.31
2,984
1.29
2,817
2,572
2,491
1,670
1,055
1,027
993
748
637
399
347
Jan-20
Dec-20
Jan-21
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES
TOTAL INVENTORY
S L RATIO
. . . 0 0 0 0 0 S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET
Copyright © 2021 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of February 3, 2021. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
11
TOWNHOME JANUARY fraser valley board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
10 % UP
23 % DOWN
12 % UP
7 % UP
92 % UP
SELLER’S 67 %
The number of townhome listings in the Fraser Valley board area increased to 685 in January, 3% above last month but 23% lower than last year. At 461, townhome sales were down 8% vs December but 92% above last year. The sales-to-listings ratio, at 67%, remained favour- able market for sellers. The benchmark price in January was $580,800, up 0.8% from last month and 7% higher vs last year. The average sold price, at $650,723, was 6% higher between December and January while the average PSF sales price was 4% higher (at $410).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 663 501 76%
% Change
No. 893 240 27%
% Change
TOTAL LISTINGS
685 461 67%
3%
-23% 92% 150%
TOTAL SALES
-8%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
-11%
$580,800 $576,200 $650,723 $615,539
0.8% $541,800 6% $579,206
7%
12% 10%
$410
$395
4%
$374
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$580,800
$541,800 $549,100 $555,000 $563,200 $567,300 $570,100
1,371
1,306
1,075
1,100
1,033
893
685
555
555
531
383
240
223
461
FVREB
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
115
4+ bdrms
140
251
SELLER'S MARKET
3 bdrms
389
BALANCED
BUYER'S MARKET
95
<3 bdrms
. . . . 0 0 0 0 QD QD
156
S-L RATIO SALES INVENTORY
Copyright © 2021 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of February 3, 2021. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
12
fraser valley board area
CONDO JANUARY
AVERAGE PRICE
AVERAGE PSF PRICE 7 % UP
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
10 % UP
17 % UP
51 % UP
SELLER’S 29 %
There were 1,301 condo listings in the Fraser Valley board area in January, 5% above last month and 17% higher vs January of last year. At 371, condo sales were 19% lower month-over- month but 51% above January 2020. Decreasing to 29%, the board area’s condo sales-to- listings ratio reflected seller’s market conditions. The condo benchmark price in January was $439,800, 0.3% above December and 4% higher vs January 2020. The average sold price was $429,957 (1.9% above December), while the average PSF sales price was $490 (1.0% above December).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,301
1,235
5%
1,108
17% 51% 28%
TOTAL SALES
371 29%
457 37%
-19% -23%
246 22%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$439,800 $438,300 $429,957 $422,033
0.3% $421,300 1.9% $391,255
4%
10%
$490
$485
1.0%
$460
7%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$421,300 $436,900 $433,700 $437,300 $436,900 $435,900 $439,800
1,935
1,841
1,715
1,549
1,301
1,426
1,108
481
430
429
371
331
246
191
FVREB
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
12
3+ bdrms
BUYER'S MARKET
131
266
2 bdrms
850
93
<2 bdrms
. . . . 0 0 0 0 QD
320
S-L RATIO SALES INVENTORY
Copyright © 2021 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of February 3, 2021. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
13
DETACHED JANUARY burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 9 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
35 % DOWN
8 % DOWN
15 % UP
-
SELLER’S 31 %
The number of detached listings in Burnaby North in January, at 72, was 14% lower month-over-month and 35% lower year-over-year. With 22 in January, detached sales were 51% below last month and 8% below last year. The sales-to-listings ratio decreased to 31%, as Burnaby North’s detached market remained favour- able to sellers. The benchmark price in January was $1.55M, 0.6% above December and 9% above January 2020. The average sold price was $1.70M, up 4% from the previous month and 15% above January 2020.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No. 110
% Change
TOTAL LISTINGS
72 22
84 45
-14% -51% -43%
-35% -8% 40%
TOTAL SALES
24
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
31%
54%
22%
$1,546,200 $1,536,300 0.6% $1,415,800
9%
$1,704,836 $1,633,930
4% $1,476,146
15%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.55
$1.52
$1.50
$1.48
$1.47
$1.45
$1.42
2.05
2.04
1.97
147
142
140
1.22
1.22
1.19
112
111
110
72
49
44
36
31
24
16
22
Jan-20
Dec-20
Jan-21
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES
TOTAL INVENTORY
S L RATIO
SELLER'S MARKET
BALANCED
BUYER'S MARKET
. . . 0 0 0 0 0 QD QD QD QD
S-L RATIO SALES INVENTORY
Copyright © 2021 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of February 3, 2021. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
14
TOWNHOME JANUARY burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 5 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
2 % DOWN
4 % DOWN
0.0 %
8 % UP
SELLER’S 39 %
The number of townhome listings in Burnaby North increased 13% from last month, settling at 36, and was unchanged vs January 2020. Townhome sales, at 14, were 46% below last month but 8% above January 2020. The sales-to-listings ratio decreased to 39% in January, as Burnaby North’s townhome segment remained in a seller’s market. The benchmark price in January was up 1.1% month-over-month, to $759,000, and was 5% above January 2020. The average sold price was $783,979 in January, (5% above December) while the average PSF sales price was $577 (increasing 5%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
36 14
32 26
13% -46% -52%
36 13
0.0%
TOTAL SALES
8% 8% 5%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
39%
81%
36%
$759,000 $751,000 $783,979 $746,915
1.1% $720,400 5% $802,962
-2% -4%
$577
$551
5%
$602
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$759,000
$720,400 $728,200 $719,300 $736,000 $731,900 $742,900
67
66
57
52
46
36
36
25
22
18
15
14
13
13
BURNABY NORTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
1
4+ bdrms
BUYER'S MARKET
2
9
3 bdrms
15
4
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD QD
19
S-L RATIO SALES INVENTORY
Copyright © 2021 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of February 3, 2021. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
15
CONDO JANUARY burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
4 % DOWN
0.4 % UP
85 % UP
75 % UP
SELLER’S 29 %
There were 329 condo listings in Burnaby North in January, 1.8% below December but 85% higher vs January 2020. January condo sales increased by 4% month-over- month, to 96, and were 75% above January 2020. The sales-to-listings ratio for condos in Burnaby North, at 29%, remained favourable to sellers. The condo benchmark price in January was $619,800, a 0.3% increase from December and 2% above January 2020. The average sold price was $597,449, 5% below last month; the average PSF sales price was $735, up 0.7% from last month.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 335
% Change
No. 178
% Change
TOTAL LISTINGS
329
-1.8%
85% 75% -6%
TOTAL SALES
96
92
4% 6%
55
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
29%
27%
31%
$619,800 $617,700 $597,449 $625,641
0.3% $606,900 -5% $622,159
2%
-4%
$735
$730
0.7%
$732
0.4%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$606,900 $616,300 $623,500 $610,900 $613,400 $611,100 $619,800
429
411
357
329
268
252
178
111
96
86
85
71
55
48
BURNABY NORTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
3
3+ bdrms
BUYER'S MARKET
31
55
2 bdrms
209
38
<2 bdrms
. . . . 0 0 0 0 QD QD
89
S-L RATIO SALES INVENTORY
Copyright © 2021 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of February 3, 2021. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
16
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