highlights • Compared to January 2019 , median detached home prices were up by 3% in January 2020 (the largest increase since January 2018), townhome prices were up 6% (the largest increase since September 2018), and condo prices were up 4% (the largest increase since August 2018). • Having said that, median prices fell for all home types month-over-month : by 7% for detached homes, by 3% for townhomes, and by 0.8% for condos. • Both the detached-to-townhome and townhome-to-condo price ratios decreased from December (falling to 1.76 for the former and to 1.28 for the latter), reflecting more favourable conditions for households looking to up-size or move up-market.
median prices THE RENNIE ADVANCE
JANUARY
$1,600,000
$1.32 M
January
$1,200,000
vs Dec 2019 7%
$800,000
vs Jan 2019 3%
DETACHED median sales price
$400,000
$0
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
$1,000,000
January
$751,500
$800,000
$600,000
vs Dec 2019 3%
$400,000
TOWNHOME median sales price
vs Jan 2019 6%
$200,000
$0
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
$800,000
January
$585,000
$600,000
vs Dec 2019 0.8% vs Jan 2019 4%
$400,000
CONDO median sales price
$200,000
$0
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
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 3, 2020. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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.
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