the rennie review - September 2021

the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION

published September 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

Ryan Wyse SENIOR ANALYST rwyse@rennie.com

Coquitlam

Langley

North Vancouver

Richmond Squamish

Surrey

Vancouver East Vancouver West West Vancouver

49 CURRENT PROJECTS

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 September 7, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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

another typically atypical month in 2021

To-date, our housing market has not followed expected seasonal trends in 2021, and August was no exception. Last month was characterized by further declines in supply combined with elevated demand levels, strengthening the vice on an already tight market.

Of course, there are two sides to every coin. Yes, the 5,137 sales are the lowest count in 8 months, but they are still up 3% from last August’s level, and 30% higher than past-decade August average. In fact, August wrapped a 12-month period that saw the region register 72,360 sales–the most in any 12-month period in our history. (All of this despite–or because of–a pandemic.) So where do we go from here? While sellers’ markets abound throughout the Vancouver Region and across home types, September is typically characterized by a rise in new listings and, by extension, housing inventory, along with a dip in sales (as much as you’d like to go to that open house you probably should pick the kids up from school). But with “atypical” being the zeitgeist of our market, perhaps we should expect the unexpected.

In a typical year for our housing market, the dog days of summer are characterized by predictably higher inventory levels and modest sales activity. It makes sense, too: usually, a smaller contingent of us are concerned with buying and selling homes at a time of year when we could be camping, hanging out on patios with friends, or catching a Canadians baseball game. However–and you knew this was coming– this has been anything but a typical year for our market (and our economy... and everything). Let’s start with a conversation about housing supply. A critical issue at the best of times, the past couple of months have seen MLS listings dive to historic lows across the Vancouver Region. In August, the 12,871 homes available for purchase were down 36% from last August’s level,

and were 40% below the past-decade average for the month. In fact, August’s listings were down by a whopping 16% (!) compared to July’s inventory level, a reality made all the more startling by the fact that in a typical year inventory only dips by 2% between July and August. The atypical seasonal changes observed on the supply side of the market also apply to the demand side, albeit to a slightly lesser extent. On the one hand, the direction of change in sales activity through the summer (that is, a slowdown) transpired as expected: indeed, the 5,137 MLS sales tallied in the Vancouver Region in August was down 2% from July and represented the 5th straight month of declining sales counts (following the almost-9,000 sales apex we ascended to in March). For those working and participating in the real estate market, the declining sales activity has been palpable.

featured listings SEARCH FOR THE HOME YOU LOVE AT RENNIE.COM

Canada House

Flagship

House

$7,188,000 | FALSE CREEK

$2,899,000 | YALETOWN

$2,488,000 | NORTH VAN

202 - 181 Athletes Way 3 Bed, 2,998 SF Brandon Blue PREC* 604.999.7792

103 - 8 Smithe Mews 2 Bed, 1,621 SF

209 Rondoval Crescent 6 Bed, 3,940 SF

Christopher Boyd PREC* 604.351.0533

Jason Soprovich 604.817.8812

Row Home

Woodwards

Icon

$1,990,000 | MT. PLEASANT

$1,399,900 | DOWNTOWN 2310 – 128 West Cordova Street 2 Bed, 1,155 SF

$1,358,000 | YALETOWN 1805 - 638 Beach Crescent 2 Bed, 1,049 SF

2750 Alberta Street 3 Bed, 2,006 SF Salina Kai PREC* 604.773.7013

Charlie Kim PREC* 604.767.1531

Phil Chang PREC* 604.754.6678

Kayak

Altus White Rock $1,227,900 | WHITE ROCK

Modello

$1,249,000 | FALSE CREEK

$1,350,000 | BURNABY SOUTH 1006 – 4360 Beresford Street 3 Bed, 1,298 SF

301 - 12 Athletes Way 2 Bed, 1,110 SF Danny Chow PREC* 604.765.2469

313 - 1526 Finlay Street 3 Bed, 1,343 SF Joanne Hoekstra 604.722.6645

Tony Liang PREC* 604.781.9988

Ballantyne Square

Ellsworth

8X On The Park $949,900 | YALETOWN 2601 – 1111 Richards Street 1 Bed, 636 SF

$979,000 | MT. PLEASANT 804 - 209 East 7th Avenue 2 Bed, 748 SF

$999,000 | FAIRVIEW SLOPES

829 West 7th Avenue 2 Bed, 872 SF

Mike Ross 778.987.8874

Nagib Karim PREC* 604.999.5887

Janette Fricker 604.787.2862

The Brooklyn

Fraser Commons $579,900 | VANCOUVER 802 – 8181 Chester Street 1 Bed, 505 SF

Montrose Square $574,900 | PORT COQUITLAM 519 – 2180 Kelly Avenue 2 Bed, 800 SF Disa Lim 604.880.8604

$749,000 | NORTH VAN 312 - 1496 Charlotte Road 2 Bed, 957 SF

Samson Danniels 778.989.2454

Amber Wang 604.723.1071

King George Hub $449,900 | SURREY 2301 – 13615 Fraser Highway 1 Bed, 496 SF Calvin Kan PREC* 604.616.8373

Georgia Gardens $425,000 | SURREY 411 – 15268 105 Avenue 1 Bed, 758 SF Irene De Guzman 604.720.1996

Joyce

$555,000 | VANCOUVER EAST

206 – 5058 Joyce Street 1 Bed, 446 SF Lorenzo Daminato PREC* 604.657.8121

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 September 7, 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.

vancouverregion DETACHED-AUGUST 2021

SALESTO LISTINGSRATIO 32% SELLERS'MARKET

▶ MARKETSUMMARY Therewere5,530detachedlistingsintheVancouver RegioninAugust,11%belowJulyand27%lowerthan August2020. Augustdetachedhomesalesdecreasedby6% month-over-month,to1,794,andwere14%below August2020. Thesales-to-listingratiofordetachedintheVancouver Region,at32%,reflectedaselers'market.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 25% VS2020

▼ 27% VS2020

▼ 14% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

1,794 5,530

2,074 7,599

25% 25% 19% -14% -27%

1,900 6,235

3% 2% 6% -6% -11%

ThedetachedmedianpriceinAugustwas$1,480,000,a 2%increasefromJulyand25%aboveAugust2020.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$1,745,723 $1,480,000 32%

$1,698,565 $1,450,000 30%

$1,391,343 $1,180,776 27%

Theaveragesoldpricewas$1,745,723,3%abovelast monthandup25%toAugust2020.

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIANPRICE

7,569

7,599

7,107

7,015

7,599

7,333

5,980

5,968

1.87

1.85

6,235

1.79

5,530

4,502

3,503

4,379

4,282

2,751

1.34

2,420

2,338

3,040

1,998

1.22

2,074

2,418

1,794

2,230

2,16

1,900

1,489

$1.50M

$1.48M $1.41M

$1.48M

$1.47M

$1.45M

$1.35M

$1.30M

$1.27M

$1.25M

$1.24M

$1.18M

Aug-20

Jul-21

Aug-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

95%

1500

72%

68%

1000

42%

500

24%

15%

<$600K

$600-799K

$800-999K

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M

$2.0M-2.49M

$2.5M-2.99M

$3M+ 1,781 133 7%

S-LRATIO SALES INVENTORY

111 47 42%

54 39 72%

172 123 72%

292 278 95%

630 427 68%

1,149 484 42%

675 164 24%

666 99 15%

Copyright©September7,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofSeptember7,2021.AldatafromRealEstate BoardofGreaterVancouverandFraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycanotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.The recipientoftheinformationshouldtakestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfromarennieandasociatesadvisor.Alinformationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromrenniegroupofcompanies.E.&O.E.

●

vancouverregion TOWNHOME-AUGUST 2021

SALESTO LISTINGSRATIO 71% SELLERS'MARKET

▶ MARKETSUMMARY Therewere1,441townhomelistingsintheVancouver RegioninAugust,18%belowJulyand51%lowerthan August2020. Augusttownhomesalesincreasedby2% month-over-month,to1,021,andwere4%belowAugust 2020. Thesales-to-listingratiofortownhomesintheVancouver Region,at71%,reflectedaselers'market. ThetownhomemedianpriceinAugustwas$790,000,a 1.0%increasefromJulyand20%aboveAugust2020. Theaveragesoldpricewas$874,481,1.8%abovelast month;theaveragePSFsalepricewas$589,up0.6%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 18% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 17% VS2020

▲ 20% VS2020

▼ 51% VS2020

▼ 4% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

1,021 1,441

1,060 2,925

18% 17% 20% 96% -4% -51%

57% 998 1,747

0.6% 1.8% 1% 24% 2% -18%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$589 $874,481 $790,000 71%

$497 $749,347 $660,000 36%

$585 $859,343 $782,000

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 2020 ● AUG 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

2,925

2,619

2,956

2,261

2,038

2,025

1,979

1,747

1,6821,726

1,642

1,608

1,486

1,414

1,291

1,441

1,587

1,196

1,405

1,060

1,204

1,021

1,071

1,013

998

836

$788K

$790K

$780K

$785K

$782K

$776K

$720K

$688K

$675K

$665K

$671K

$660K

$656K

VANCOUVERREGION REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

400

182

95%

4+bdrms

279

86%

79%

300

566

62%

3bdrms

788

200

39% 36%

32%

257

100

2bdrms

18%

343

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

S-LRATIO SALES INVENTORY

28 9 32%

130 112 86%

424 403 95%

358 282 79%

168 104 62%

135 53 39%

124 45 36%

74 13 18%

<2bdrms

Copyright©September7,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofSeptember7,2021.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 6 ●

vancouverregion CONDO-AUGUST 2021

SALESTO LISTINGSRATIO 44% SELLERS'MARKET

▶ MARKETSUMMARY Therewere5,102condolistingsintheVancouverRegion inAugust,9%belowJulyand36%lowerthanAugust 2020. Augustcondosalesdecreasedby0.1% month-over-month,to2,233,andwere27%above August2020. Thesales-to-listingratioforcondosintheVancouver Region,at44%,reflectedaselers'market. ThecondomedianpriceinAugustwas$590,000,a1.2% increasefromJulyand9%aboveAugust2020. Theaveragesoldpricewas$672,113,4%abovelast month;theaveragePSFsalepricewas$791,up4%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 9% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 7% VS2020

▲ 9% VS2020

▼ 36% VS2020

▲ 27% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

2,233 5,102

1,755 8,002

9% 7% 9% 100% 27% -36%

2,235 5,627

4% 4% 1.2% 10% -0.1% -9%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$791 $672,113 $590,000 44%

$723 $625,530 $539,000 22%

$764 $647,296 $583,000 40%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 2020 ● AUG 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

8,002

7,335

8,297

8,024

6,051

6,001

5,830

5,627

5,595

5,697

5,102

5,402

3,508 5,355

2,830

2,079 2,066

1,936

2,981

2,233

2,435

2,402

1,755

2,235

1,797

1,560

$588K

$590K

$585K

$583K

$575K

$550K

$539K

$540K

$542K

$532K

$530K

VANCOUVERREGION REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

1400

30 7

4+bdrms

1200

1000

71%

163

62%

800

3bdrms

608

51%

600

400

28% 25%

1,195

2bdrms

17% 15%

200

2,986

10%

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

868

S-LRATIO SALES INVENTORY

384 273 71%

1,433 889 62%

1,262 640 51%

808 224 28%

365 90 25%

288 50 17%

244 36 15%

318 31 10%

<2bdrms

1,478

Copyright©September7,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofSeptember7,2021.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 7 ●

greatervancouverboardarea DETACHED-AUGUST 2021

SALESTO LISTINGSRATIO 25% SELLERS'MARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 21% VS2020

▲ 20% VS2020

▼ 19% VS2020

▼ 14% VS2020

Therewere3,687detachedlistingsintheGreater VancouverboardareainAugust,9%belowJulyand19% lowerthanAugust2020. Augustdetachedhomesalesdecreasedby10% month-over-month,to939,andwere14%belowAugust 2020. Thesales-to-listingratiofordetachedintheGreater Vancouverboardarea,at25%,reflectedaselers'market.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

25% 939 3,687

1,098 4,540

21% 20% 5% -14% -19%

1,044 4,050

4% 2% -1.2% -10% -9%

ThedetachedmedianpriceinAugustwas$1,650,000,a 2%increasefromJulyand20%aboveAugust2020.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$1,919,895 $1,611,000 26%

$1,645,413 $1,380,000 24%

Theaveragesoldpricewas$1,988,697,4%abovelast monthandup21%toAugust2020.

$1,988,697 $1,650,000

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIANPRICE

4,523

4,741

4,389

4,540

4,237

4,580

3,742

3,664

1.83

4,050

3,687

1.79

1.75

2,905

2,864

2,762

1,960

1.40

1.38

1.32

1,308 1,343

1,265

1,653

1,020

1,423

1,098

1,223

939

1,063

1,044

739

$1.70M

$1.65M $1.60M

$1.64M

$1.65M

$1.63M

$1.61M

$1.52M

$1.50M

$1.48M

$1.44M

$1.38M

Aug-20

Jul-21

Aug-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

1400

100%+

1200

1000

68%

61%

800

50%

600

40%

400

22%

15%

200

<$600K

$600-799K

$800-999K

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M

$2.0M-2.49M

$2.5M-2.99M

$3M+ 1,399 109 8%

S-LRATIO SALES INVENTORY

45 18 40%

34 23 68%

75 46 61%

111 113 102%

316 158 50%

723 291 40%

476 105 22%

508 76 15%

●

greatervancouverboardarea TOWNHOME-AUGUST 2021

SALESTO LISTINGSRATIO 57% SELLERS'MARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 14% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 14% VS2020

▼ 46% VS2020

▼ 6% VS2020

Therewere888townhomelistingsintheGreater VancouverboardareainAugust,14%belowJulyand46% lowerthanAugust2020. Augusttownhomesalesdecreasedby2% month-over-month,to507,andwere6%belowAugust 2020. Thesales-to-listingratiofortownhomesintheGreater Vancouverboardarea,at57%,reflectedaselers'market. ThetownhomemedianpriceinAugustwas$900,000,a 0.0%increasefromJulyand14%aboveAugust2020. Theaveragesoldpricewas$1,011,939,4%abovelast month;theaveragePSFsalepricewas$698,up1.7%to lastmonth.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

57% 507 888

33% 542 1,658

14% 14% 14% 75% -6% -46%

50% 519 1,036

1.7% 4% 0% 14% -2% -14%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$698 $1,011,939 $900,000

$686 $973,564 $899,900

$610 $883,864 $788,500

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 2020 ● AUG 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

1,658

1,645

1,259

1,440

1,192

1,153

1,085

955

901

847

1,036

888

955

928

678

636

634

506

706

542

616

507

536

519

372

$910K

$909K

$900K

$901K

$900K

$815K

$816K

$789K

$790K

$791K

$780K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

200

4+bdrms

137

88%

150

74% 71%

64%

282

3bdrms

483

50%

100

36% 38%

133

2bdrms

18%

244

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

2 1 50%

41 36 88%

182 134 74%

209 148 71%

130 83 64%

130 47 36%

120 45 38%

74 13 18%

Copyright©September7,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofSeptember7,2021.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 9 ●

greatervancouverboardarea CONDO-AUGUST 2021

SALESTO LISTINGSRATIO 39% SELLERS'MARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 9% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 7% VS2020

▲ 8% VS2020

▼ 32% VS2020

▲ 22% VS2020

Therewere4,166condolistingsintheGreater VancouverboardareainAugust,7%belowJulyand32% lowerthanAugust2020. Augustcondosalesdecreasedby3%month-over-month, to1,634,andwere22%aboveAugust2020.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

Thesales-to-listingratioforcondosintheGreater Vancouverboardarea,at39%,reflectedaselers'market.

TOTALLISTINGS TOTALSALES

1,634 4,166

1,338 6,145

80% 22% -32%

1,678 4,465

-3% -7%

ThecondomedianpriceinAugustwas$644,950,a0.8% decreasefromJulyand8%aboveAugust2020. Theaveragesoldpricewas$739,080,4%abovelast month;theaveragePSFsalepricewas$875,up4%to lastmonth.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$875 $739,080 $644,950 39%

$800 $692,151 $597,500 22%

$841 $708,220 $649,900 38%

4% 4% -0.8% 4%

9% 7% 8%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 2020 ● AUG 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

6,145

5,736

6,429

6,275

4,780

4,714

4,486

4,166

4,465

4,441

4,288

4,210

2,690 4,165

2,049

1,594 1,571

1,476

2,283

1,634

1,766

1,786

1,338

1,678

1,367

1,189

$650K

$645K

$637K

$638K

$635K

$619K

$608K

$598K

$588K

$590K

$587K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

1200

26 6

1000

4+bdrms

800

111

61% 58%

3bdrms

600

52%

512

400

28% 24%

846

2bdrms

18% 15%

200

2,415

10%

671

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

165 101 61%

953 555 58%

1,096 565 52%

773 214 28%

350 85 24%

280 49 18%

235 35 15%

314 30 10%

1,213

Copyright©September7,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofSeptember7,2021.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 10 ●

fraservaleyboardarea DETACHED-AUGUST 2021

SALESTO LISTINGSRATIO 46% SELLERS'MARKET

▶ MARKETSUMMARY Therewere1,843detachedlistingsintheFraserValey boardareainAugust,16%belowJulyand40%lowerthan August2020. Augustdetachedhomesalesdecreasedby1.1% month-over-month,to842,andwere13%belowAugust 2020. Thesales-to-listingratiofordetachedintheFraserValey boardarea,at46%,reflectedaselers'market.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 34% VS2020

▲ 33% VS2020

▼ 40% VS2020

▼ 13% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

46% 842 1,843

32% 968 3,059

34% 33% 44% -13% -40%

39% 851 2,185

4% 4% 17% -1.1% -16%

ThedetachedmedianpriceinAugustwas$1,356,500,a 4%increasefromJulyand33%aboveAugust2020.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

Theaveragesoldpricewas$1,483,494,4%abovelast monthandup34%toAugust2020.

$1,432,677 $1,310,000

$1,483,494 $1,356,500

$1,108,416 $1,022,500

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIANPRICE

2,944

3,059

2,828

2,778

3,019

2,584

2,304

1.85

2,238

1.80

1.70

2,185

1.62

1,843

1.58

1,597

1,530

1.52

1,322

1,184

1,515 1,520

1,071 1,048

1,022

1,382

968

842

968

961

851

743

$1.36M

$1.34M

$1.33M $1.28M

$1.33M

$1.31M

$1.29M

$1.22M

$1.15M

$1.10M

$1.05M

$1.06M

$1.02M

Aug-20

Jul-21

Aug-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

400

91%

86%

75%

300

200

45%

38%

29%

100

15%

<$600K

$600-799K

$800-999K

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M

$2.0M-2.49M

$2.5M-2.99M

$3M+

S-LRATIO SALES INVENTORY

66 25 38%

20 15 75%

97 73 75%

181 165 91%

314 269 86%

426 191 45%

199 58 29%

158 23 15%

382 23 6%

●

fraservaleyboardarea TOWNHOME-AUGUST 2021

SALESTO LISTINGSRATIO 93% SELLERS'MARKET

▶ MARKETSUMMARY Therewere553townhomelistingsintheFraserValey boardareainAugust,22%belowJulyand56%lowerthan August2020. Augusttownhomesalesincreasedby7% month-over-month,to513,andwere0.8%belowAugust 2020. Thesales-to-listingratiofortownhomesintheFraser Valeyboardarea,at93%,reflectedaselers'market. ThetownhomemedianpriceinAugustwas$735,000,a 0.8%increasefromJulyand23%aboveAugust2020. Theaveragesoldpricewas$739,303,0.5%abovelast month;theaveragePSFsalepricewas$481,up1.0%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 27% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 21% VS2020

▲ 23% VS2020

▼ 56% VS2020

▼ 0.7% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No. 67% 479 711

%Change

TOTALLISTINGS TOTALSALES

93% 513 553

41% 517 1,267

127% -0.8% -56%

1% 0.5% 0.8% 38% 7% -22%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$481 $739,303 $735,000

$476 $735,585 $729,000

$378 $608,653 $600,000

27% 21% 23%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 2020 ● AUG 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

1,31

1,267

1,179

1,002

872 846

786

787

775

687

612

759

553

706

659

641

517

513

567

558

533

531

506 462

479

$735K

$728K

$725K

$729K

$720K

$705K

$660K

$640K

$615K

$604K

$608K

$600K

$593K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

103

100%+

250

4+bdrms

90%

142

84%

200

284

150

3bdrms

55%

305

100

31%

123

2bdrms

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

26 8 31%

89 75 84%

242 269 111%

149 134 90%

38 21 55%

5 6 120%

4 0 n/a

Copyright©September7,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofSeptember7,2021.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 12 ●

fraservaleyboardarea CONDO-AUGUST 2021

SALESTO LISTINGSRATIO 64% SELLERS'MARKET

▶ MARKETSUMMARY Therewere936condolistingsintheFraserValeyboard areainAugust,19%belowJulyand50%lowerthan August2020. Augustcondosalesincreasedby8%month-over-month, to599,andwere44%aboveAugust2020.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 18% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 19% VS2020

▲ 18% VS2020

▼ 50% VS2020

▲ 44% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

Thesales-to-listingratioforcondosintheFraserValey boardarea,at64%,reflectedaselers'market.

TOTALLISTINGS TOTALSALES

64% 599 936

22% 417 1,857

18% 19% 18% 185% 44% -50%

48% 556 1,162

6% 6% 3% 34% 8% -19%

ThecondomedianpriceinAugustwas$465,000,a3% increasefromJulyand18%aboveAugust2020. Theaveragesoldpricewas$489,433,6%abovelast month;theaveragePSFsalepricewas$562,up6%to lastmonth.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$562 $489,433 $465,000

$530 $463,444 $449,850

$477 $411,767 $395,000

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 2020 ● AUG 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

1,857

1,749

1,868

1,599

1,344

1,307

1,271

1,162

1,287

1,256

806 1,192 1,190

936

778

666

494

599

480

459

690

614

556

417

426

369

$465K

$450K

$446K

$438K

$430K

$415K

$405K

$398K

$395K

$393K

$391K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

500

4 1

4+bdrms

400

79%

70%

300

3bdrms

45%

200

33%

29%

349

25%

2bdrms

100

571

13% 11%

197

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

219 172 79%

480 334 70%

166 75 45%

35 10 29%

15 5 33%

8 1 13%

9 1 11%

4 1 25%

265

Copyright©September7,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofSeptember7,2021.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 13 ●

burnabynorth DETACHED-AUGUST 2021

SALESTO LISTINGSRATIO 26% SELLERS'MARKET

▶ MARKETSUMMARY Therewere105detachedlistingsinBurnabyNorthin August,13%belowJulyand17%lowerthanAugust 2020. Augustdetachedhomesalesdecreasedby40% month-over-month,to27,andwere53%belowAugust 2020. Thesales-to-listingratiofordetachedinBurnabyNorth, at26%,reflectedaselers'market.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 11% VS2020

▲ 8% VS2020

▼ 17% VS2020

▼ 53% VS2020

THISMONTH No. $1,842,621 $1,700,000 26% 27 105

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

$1,666,039 $1,570,000 46% 58 127

11% 8% -44% -53% -17%

$1,871,364 $1,810,000 37% 45 121

-1.5% -6% -31% -40% -13%

ThedetachedmedianpriceinAugustwas$1,700,000,a 6%decreasefromJulyand8%aboveAugust2020.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

Theaveragesoldpricewas$1,842,621,1.5%belowlast monthanddown11%toAugust2020.

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIANPRICE

154

161

157

136

132

125

2.38

127

2.27

121

105

2.02

67 67

1.46

45 44

1.15

1.12

$1.92M

$1.80M $1.80M

$1.81M

$1.80M

$1.78M

$1.70M

$1.60M

$1.57M

$1.56M

$1.55M

$1.50M

Aug-20

Jul-21

Aug-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

50%

31%

23%

<$600K

$600-799K

$800-999K

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M

$2.0M-2.49M

$2.5M-2.99M

$3M+

S-LRATIO SALES INVENTORY

0 1 n/a

8 4 50%

48 15 31%

22 5 23%

14 1 7%

13 1 8%

●

burnabynorth TOWNHOME-AUGUST 2021

SALESTO LISTINGSRATIO 87% SELLERS'MARKET

▶ MARKETSUMMARY Therewere38townhomelistingsinBurnabyNorthin August,30%belowJulyand30%lowerthanAugust 2020. Augusttownhomesalesincreasedby32% month-over-month,to33,andwere22%aboveAugust 2020. Thesales-to-listingratiofortownhomesinBurnaby North,at87%,reflectedaselers'market. ThetownhomemedianpriceinAugustwas$750,000,a 16%decreasefromJulyand14%aboveAugust2020. Theaveragesoldpricewas$801,712,6%belowlast month;theaveragePSFsalepricewas$615,down0.7% tolastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 12% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 11% VS2020

▲ 14% VS2020

▼ 30% VS2020

▲ 22% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

33 38

27 54

12% 11% 14% 74% 22% -30%

25 54

-0.7% -6% -16% 88% 32% -30%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$615 $801,712 $750,000 87%

$549 $719,922 $659,900 50%

$620 $851,940 $896,000 46%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 2020 ● AUG 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

$896K

$847K

$818K

$800K

$768K

$775K

$761K

$749K

$750K

$725K

$718K

$660K

BURNABYNORTH REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

100%+

4+bdrms

90%

78%

3bdrms

33%

2bdrms

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

1 5 500%

18 14 78%

10 9 90%

3 4 133%

3 0 n/a

3 1 33%

Copyright©September7,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofSeptember7,2021.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 15 ●

burnabynorth CONDO-AUGUST 2021

SALESTO LISTINGSRATIO 39% SELLERS'MARKET

▶ MARKETSUMMARY Therewere302condolistingsinBurnabyNorthin August,-0.7%belowJulyand26%lowerthanAugust 2020. Augustcondosalesincreasedby4%month-over-month, to117,andwere15%aboveAugust2020.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 8% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 8% VS2020

▲ 12% VS2020

▼ 26% VS2020

▲ 15% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 25% 102 407

%Change

No. 37% 113 304

%Change

Thesales-to-listingratioforcondosinBurnabyNorth,at 39%,reflectedaselers'market.

TOTALLISTINGS TOTALSALES

39% 117 302

12% 55% 15% -26%

8% 5% 7% 4% 4% -0.7%

ThecondomedianpriceinAugustwas$655,000,a7% increasefromJulyand12%aboveAugust2020. Theaveragesoldpricewas$662,269,5%abovelast month;theaveragePSFsalepricewas$823,up8%to lastmonth.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$823 $662,269 $655,000

$761 $631,158 $615,000

$760 $610,851 $587,000

8% 8%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 2020 ● AUG 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

407

379

414

400

323

312

304

284

302

324

273

290

182 275

201

143

102

129

13 13

$655K

$649K

$625K

$617K

$615K

$608K

$613K

$612K

$598K

$587K

$590K

$582K

$559K

BURNABYNORTH REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

100

4+bdrms

67%

3bdrms

47% 48%

32%

2bdrms

200

10%

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

9 6 67%

79 37 47%

100 48 48%

75 24 32%

20 2 10%

7 0 n/a

10 0 n/a

2 0 n/a

Copyright©September7,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofSeptember7,2021.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 16 ●

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