the rennie review - May 2023

the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 15 SUB-MARKETS IN THE VANCOUVER REGION

published May 2023

table of contents

02 INTRO

03 WHAT YOU NEED TO KNOW

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.

04 FEATURED LISTINGS

NEIGHBOURHOOD PROFILES

05 08 11 14 17 20 23 26 29 32 35 38 41 44 47 48 51 53

Vancouver Region

Greater Vancouver Board Area Fraser Valley Board Area

Burnaby North Burnaby South

Coquitlam

Ryan Berlin DIRECTOR OF INTELLIGENCE & SENIOR ECONOMIST rberlin@rennie.com

Ryan Wyse SENIOR ANALYST rwyse@rennie.com

Langley

North Delta

New Westminster North Vancouver

Richmond Squamish

Surrey

Vancouver East

Vancouver Downtown

Vancouver West West Vancouver

Whistler

56 AREA MAPS

59 CURRENT PROJECTS

Copyright © 2023 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 May 4, 2023. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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

with few new listings, supply is listing

April marked the third straight month of increasing home sales counts in the Vancouver Region, with buyers keeping up the pressure on supply. Indeed, continued demand combined with new listings lethargy means a material inventory expansion will likely be elusive in the months ahead.

up 3.2%, townhomes 1.9%, and condos 1.9% versus April).

Ultimately, our market has a new listings problem: through the first four months of 2023, there have only been 23,386 new listings in the Vancouver Region. While this may sound like a big number, it happens to be the second-fewest number of new listings on a year-to-date basis since 2005 (with only the first four months of 2020 tallying fewer). The early returns for sales, new listings, and inventory in May suggest the market momentum established early this year will continue, despite the persistence of high interest rates. Indeed, without an influx of new housing supply onto our market, buyers will continue to face strong competition for available homes, in turn yielding more upward price pressure in the months ahead.

After failing to reach the 3,000-sales threshold for 8 consecutive months, a spark has apparently been lit under the demand side of the housing market in the Vancouver Region, with April bearing witness to 4,216 MLS sales. This marked the second straight month of more than 4,000 sales following March’s strong showing. Notably, April’s sales count was actually 5% above March’s, whereas the typical March- to-April pattern is a 7% drop in sales counts. April was, however, still down 12% versus April 2022 and was 15% below the past 10- year April average. So while sales counts are growing, they remain below what is typical for this market at this time of year. Inventory, meanwhile, just can’t get going, with there being only 11,988 listings available at the end of April. While this was 2% more than at the previous month’s

end, it expanded by far less than the more typical 8%. As a result, the number of homes available for purchase sits 29% below its long-run average.

With the pace of sales once again increasing—complemented, as our

monthly advisor survey has revealed, by an increasing prevalence of multiple-offer and subject-free offer scenarios— and inventory only inching upward, market conditions tilted further in favour of sellers in April. Specifically, the months-of-inventory (MOI) measure for the Vancouver Region declined to 2.8 in April (from 2.9 in March)—a reflection of a deeply-entrenched sellers’ market (NB: a sellers’ market is indicated by 5.0 or less MOI). The imbalance between supply and demand has continued to put upward pressure on prices, with benchmark prices increasing again in April by an average of 2.5% (detached home prices were

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1351 Peakside Place 4 Bed, 1,792 SF Belinda Grant 604.906.2099

602 - 1561 W. 57th Avenue 2 Bed, 887 SF

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Silver

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Andy Mah PREC* 604.779.9382

Deanna Lythgo PREC* 778.840.3170

Copyright © 2023 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 May 4, 2023. 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 -APRIL 2023

SALES TO LISTINGSRATIO 27% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere5,226 detached listingsin theVancouver Region in April,4% aboveM arch and 17% lowerthan April2022. A prildetached hom esalesincreased by 6% m onth-over-m onth,to1,402,and were10% below April 2022. Thesales-to-listing ratio fordetached in the Vancouver Region,at27% ,reflected aselers'm arket.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 8% VS 2022

▼ 9% VS 2022

▼ 17% VS 2022

▼ 10% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

1,402 5,226

1,559 6,329

-10% -17%

1,325 5,016

6% 4%

Thedetachedm edian pricein Aprilwas$1,644,450,a6% increasefrom M arch and 9% below April2022.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$1,926,386 $1,644,450 27%

$1,841,232 $1,555,000 26%

5% 6% 1.6%

$2,093,102 $1,800,000 25%

-8% -9% 9%

Theaveragesold pricewas$1,926,386,5% abovelast m onth and down 8% toApril2022.

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

7,232

7,630

6,847

7,416

6,495

6,997

5,942

6,329

1.84

1.83

1.80

4,816

5,226

5,016

4,786

4,553

1.48

1.40

1.38

1,325

1,559

887

905

1,402

803

632

514

1,281

1,083

872

857

838

$1.80M

$1.73M $1.65M $1.60M

$1.55M $1.56M $1.64M

$1.53M $1.52M $1.54M $1.50M $1.50M $1.45M

22-Apr

23-M ar 23-Apr

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

1500

1000

65%

49%

40%

37%

34%

500

25%

24%

17%

11%

<$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+ 1,533 164 11%

S-L RATIO SALES INVENTORY

124 31 25%

55 22 40%

163 61 37%

247 160 65%

587 288 49%

1,158 395 34%

780 185 24%

579 96 17%

Copyright© May4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMay4,2023.Aldatafrom RealEstateBoardof GreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipient oftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained from aren ieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.

●

vancouverregion TOWNHOME-APRIL 2023

SALES TO LISTINGSRATIO 49% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,586 townhom elistingsin theVancouver Region in April,1.2% aboveM arch and 23% lowerthan April2022. Apriltownhom esalesincreased by3% m onth-over-m onth,to784,and were13% below April 2022. Thesales-to-listing ratio fortow nhom esin theVancouver Region,at49% ,reflected aselers'm arket. Thetownhom em edian pricein Aprilwas$899,000,a4% increasefrom M arch and 9% below April2022. Theaveragesold pricewas$985,922,4% abovelast m onth;theaveragePSF salepricewas$648,up 4% to lastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▼ 9% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 6% VS 2022

▼ 9% VS 2022

▼ 23% VS 2022

▼ 13% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

49% 784 1,586

44% 902 2,047

-9% -6% -9% 12% -13% -23%

48% 758 1,567

4% 4% 4% 2% 3% 1.2%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$648 $985,922 $899,000

$625 $949,144 $865,000

$715 $1,054,212 $985,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● APR 202 ● APR 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

2,234

2,498

2,485

2,162

2,425

1,998

2,252

2,047

1,567

1,586

1,567

1,527

1,506

782

758

902

784

573

548

516

813

479

467

415

340

289

$985K

$927K $920K $895K

$860K $865K $899K

$852K $850K $870K $860K $840K $810K

VancouverRegion REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

500

174

4+ bdrms

360

400

417

300

62% 60%

58%

3 bdrms

817

46%

200

34%

29%

181

26%

2 bdrms

16%

377

100

<2 bdrms

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

S-L RATIO SALES INVENTORY

28 8 29%

76 35 46%

292 181 62%

481 290 60%

250 145 58%

202 68 34%

168 43 26%

89 14 16%

Copyright© May4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMay4,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 6 ●

vancouverregion CONDO -APRIL 2023

SALES TO LISTINGSRATIO 40% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere4,770 condolistingsin theVancouverRegion in April,0.3% aboveM arch and 1.4% higherthan April 2022. Aprilcondosalesincreased by5% m onth-over-m onth,to 1,903,and were15% below April2022.

AVERAGEPRICE

AVERAGE PSF PRICE ▼ 6% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 6% VS 2022

▼ 4% VS 2022

▲ 1.4% VS 2022

▼ 15% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

Thesales-to-listing ratio forcondosin the Vancouver Region,at40% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

1,903 4,770

2,241 4,704

-16% -15% 1.4%

1,810 4,755

2% 3% 1.9% 5% 5% 0.3%

Thecondom edian pricein Aprilwas$652,000,a1.9% increasefrom M arch and 4% below April2022. Theaveragesold pricewas$737,130,3% abovelast m onth;theaveragePSF salepricewas$859,up 2% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$859 $737,130 $652,000 40%

$910 $784,101 $680,000 48%

$838 $716,293 $640,000 38%

-6% -6% -4%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● APR 202 ● APR 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

5,394

5,275

5,676

5,592

5,526

5,499

4,755

4,604

5,232

4,770

4,704

4,365

4,138

2,055

2,241

1,810

1,903

1,310

1,274

1,121

1,732

1,418

1,217

1,171

924

771

$680K $667K $650K $640K $645K

$620K $635K $625K $625K $630K $630K $640K $652K

VancouverRegion REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

1200

38 5

4+ bdrms

1000

800

148

3 bdrms

57%

567

49%

600

36%

30%

400

1,035

24%

2 bdrms

2,585

200

10%

715

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

<2 bdrms

S-L RATIO SALES INVENTORY

238 116 49%

1,108 627 57%

1,270 625 49%

783 280 36%

437 130 30%

276 67 24%

306 32 10%

352 26 7%

1,580

Copyright© May4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMay4,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 7 ●

greatervancouverboard area DETACHED -APRIL 2023

SALES TO LISTINGSRATIO 25% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 4% VS 2022

▼ 6% VS 2022

▼ 14% VS 2022

▼ 15% VS 2022

Therew ere 3,228 detached listingsin the G reater Vancouverboard areain April,5% aboveM arch and 14% lowerthan April2022. A prildetached hom esalesincreased by 10% m onth-over-m onth,to809,and were15% below April 2022. Thesales-to-listing ratio fordetached in the G reater Vancouverboard area,at25% ,reflected aselers'm arket.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

25% 809 3,228

26% 956 3,741

-4% -6% -1.9% -15% -14%

24% 734 3,077

1.5% 3% 5% 10% 5%

Thedetachedm edian pricein Aprilwas$1,875,000,a3% increasefrom M arch and 6% below April2022.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

Theaveragesold pricewas$2,212,425,1.5% abovelast m onth and down 4% toApril2022.

$2,178,825 $1,813,889

$2,212,425 $1,875,000

$2,305,139 $1,985,000

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

4,268

4,499

4,148

3,954

4,375

4,187

3,598

3,741

1.81

1.80

1.79

2,968

3,228

3,077

2,928

1.52

2,801

1.47

1.43

734

956

578

809

490

373

301

796

657

530 524

532

515

$1.99M $1.90M

$1.81M $1.88M $1.71M

$1.80M $1.74M $1.70M $1.68M $1.72M

$1.69M $1.70M $1.58M

22-Apr

23-M ar 23-Apr

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

1200

1000

800

600

51%

50%

43%

36%

400

28%

25%

20%

200

12%

<$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+ 1,185 143 12%

S-L RATIO SALES INVENTORY

58 7 12%

35 15 43%

88 22 25%

119 59 50%

235 120 51%

654 233 36%

472 132 28%

382 78 20%

●

greatervancouverboard area TOWNHOME-APRIL 2023

SALES TO LISTINGSRATIO 44% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▼ 7% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 1.4% VS 2022

▼ 5% VS 2022

▼ 6% VS 2022

▼ 23% VS 2022

Therewere906 townhom elistingsin theG reater Vancouverboard areain April,no changeto M arch and 6% lowerthan April2022. Apriltownhom esalesincreased by8% m onth-over-m onth,to396,and were23% below April 2022. Thesales-to-listing ratio fortow nhom esin theG reater Vancouverboard area,at44% ,reflected aselers'm arket. Thetownhom em edian pricein Aprilwas$1,047,750,a 5% increasefrom M arch and 5% below April2022. Theaveragesold pricewas$1,130,785,3% abovelast m onth;theaveragePSF salepricewas$760,up 2% to lastm onth.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No. 53% 511 963

% Change

No. 41% 368 906

% Change 2% 3% 5% 8% 8% 0%

TOTALLISTINGS TOTALSALES

44% 396 906

-7% -1.4% -5% -18% -23% -6%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$760 $1,130,785 $1,047,750

$745 $1,092,929 $1,000,000

$815 $1,147,185 $1,100,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● APR 202 ● APR 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,191

1,161

1,053

1,177

1,155

1,17

1,096

906

963

843

822

816

421

368

396

453

306

290

271

186

245

232

226

120

$1.10M $1.03M $1.04M

$995K $945K $950K $1.02M $949K

$987K $979K $1.04M $1000K $1.05M

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

200

4+ bdrms

162

150

67%

225

61%

3 bdrms

100

474

32%

26%

2 bdrms

16%

242

<2 bdrms

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

S-L RATIO SALES INVENTORY

11 0 n/a

28 9 32%

98 60 61%

178 119 67%

155 94 61%

184 58 32%

163 42 26%

89 14 16%

Copyright© May4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMay4,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 9 ●

greatervancouverboard area CONDO -APRIL 2023

SALES TO LISTINGSRATIO 38% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▼ 4% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 5% VS 2022

▼ 2% VS 2022

▲ 0.1% VS 2022

▼ 16% VS 2022

Therewere3,709 condolistingsin theG reater Vancouverboard areain April,0.4% aboveM arch and 0.1% higherthan April2022. Aprilcondosalesincreased by7% m onth-over-m onth,to 1,416,and were16% below April2022.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

Thesales-to-listing ratio forcondosin the G reater Vancouverboard area,at38% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

1,416 3,709

1,692 3,707

-16% -16% 0.1%

1,319 3,695

1.9% 2% 2% 7% 7% 0.4%

Thecondom edian pricein Aprilwas$719,900,a2% increasefrom M arch and 2% below April2022. Theaveragesold pricewas$803,455,2% abovelast m onth;theaveragePSF salepricewas$936,up 1.9% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$936 $803,455 $719,900 38%

$980 $841,910 $735,000 46%

$918 $785,419 $705,000 36%

-4% -5% -2%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● APR 202 ● APR 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

4,160

4,038

4,358

4,298

3,695

4,223

4,193

3,996

3,707

3,709

3,531

3,348

3,163

1,604

1,692

1,319

1,416

1,005

997

1,326

1,062

932

892

848

707

573

$735K $717K $698K $694K $690K

$670K $677K $680K $685K $690K $680K $705K $720K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

1000

36 4

4+ bdrms

800

121

600

62%

3 bdrms

52%

497

400

37%

36%

30%

730

25%

2 bdrms

200

1,959

10%

561

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

<2 bdrms

S-L RATIO SALES INVENTORY

111 40 36%

563 349 62%

984 516 52%

724 266 37%

416 124 30%

267 67 25%

299 31 10%

345 23 7%

1,217

Copyright© May4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMay4,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 10 ●

fraservaley board area DETACHED -APRIL 2023

SALES TO LISTINGSRATIO 30% SELLERS'M ARKET

▶ MARKETSUMMARY Therew ere 1,998 detached listingsin the FraserValey board areain April,3% aboveM arch and 23% lowerthan April2022. A prildetached hom esalesincreased by 0.3% m onth-over-m onth,to 593,and were1.7% below April 2022. Thesales-to-listing ratio fordetached in the FraserValey board area,at30% ,reflected aselers'm arket.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 13% VS 2022

▼ 11% VS 2022

▼ 23% VS 2022

▼ 1.7% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

30% 593 1,998

23% 603 2,588

-13% -11% 27% -1.7% -23%

30% 591 1,939

8% 6% -3% 0.3% 3%

Thedetachedm edian pricein Aprilwas$1,430,000,a6% increasefrom M arch and 11% below April2022.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

Theaveragesold pricewas$1,536,157,8% abovelast m onth and down 13% toApril2022.

$1,421,953 $1,348,000

$1,536,157 $1,430,000

$1,756,938 $1,614,000

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

2,964

3,131

2,699

3,041

2,810

2,588

2,344

1.77

1.70

2,541

1.67

1.65

1,939

1.61

1.58

1,998

1,858

1,848

1,752

591

426

603

593

363

327

313

259

213

485

342

325

323

$1.61M

$1.53M $1.48M

$1.42M $1.34M $1.32M $1.32M

$1.35M $1.43M

$1.24M $1.28M $1.28M $1.31M

22-Apr

23-M ar 23-Apr

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

500

400

79%

300

52%

48%

200

36%

35%

32%

17%

100

<$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-L RATIO SALES INVENTORY

66 24 36%

20 7 35%

75 39 52%

128 101 79%

352 168 48%

504 162 32%

308 53 17%

197 18 9%

348 21 6%

●

fraservaley board area TOWNHOME-APRIL 2023

SALES TO LISTINGSRATIO 57% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere680 townhom elistingsin theFraserValey board areain April,3% aboveM arch and 37% lowerthan April2022. Apriltownhom esalesdecreased by0.5% m onth-over-m onth,to 388,and were0.8% below April 2022. Thesales-to-listing ratio fortow nhom esin theFraser Valey board area,at57% ,reflected aselers'm arket. Thetownhom em edian pricein Aprilwas$838,950,a4% increasefrom M arch and 8% below April2022. Theaveragesold pricewas$838,072,3% abovelast m onth;theaveragePSF salepricewas$533,up 4% to lastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▼ 8% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 10% VS 2022

▼ 8% VS 2022

▼ 37% VS 2022

▼ 0.8% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No. 59% 390 661

% Change

TOTALLISTINGS TOTALSALES

57% 388 680

36% 391 1,084

-8% -10% -8% 58% -0.8% -37%

4% 3% 4% -3% -0.5% 3%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$533 $838,072 $838,950

$512 $813,471 $807,500

$583 $932,705 $913,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● APR 202 ● APR 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,248

1,330

1,307

1,17

1,084

1,156

945

1,001

684

680

751

684

661 390

361

391

388

283

245

360

242

234

235

189

169

154

$913K

$870K $855K $843K

$808K $839K

$790K $780K $770K $798K $745K $745K $770K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

300

4+ bdrms

198

250

200

192

62%

3 bdrms

56%

54%

54% 56%

343

150

47%

100

102

2 bdrms

20%

135

4 1

<2 bdrms

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

S-L RATIO SALES INVENTORY

17 8 47%

48 26 54%

194 121 62%

303 171 56%

95 51 54%

18 10 56%

5 1 20%

Copyright© May4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMay4,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 12 ●

fraservaley board area CONDO -APRIL 2023

SALES TO LISTINGSRATIO 46% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,061 condolistingsin theFraserValey board areain April,0.1% aboveM arch and 6% higher than April2022. Aprilcondosalesdecreased by0.8% m onth-over-m onth, to487,and were11% below April2022.

AVERAGEPRICE

AVERAGE PSF PRICE ▼ 9% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 10% VS 2022

▲ 6% VS 2022

▼ 11% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No. 55% 549 997

% Change

No.

% Change

Thesales-to-listing ratio forcondosin the FraserValey board area,at46% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

46% 487 1,061

-9% -10% -10% -17% -11% 6%

46% 491 1,060

-0.9% -0.8% 0.1%

Thecondom edian pricein Aprilwas$510,000,a0% changefrom M arch and 10% below April2022. Theaveragesold pricewas$544,285,3% abovelast m onth;theaveragePSF salepricewas$636,up 2.0% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$636 $544,285 $510,000

$623 $530,597 $510,000

2% 3% 0%

$695 $605,937 $566,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● APR 202 ● APR 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,237

1,234

1,318

1,306 1,303

1,294

1,236

1,073

1,061

1,060

1,017

997

975

491

549

406

487

451

273

356

305

285

279

277

217

198

$566K $548K $540K

$535K $515K

$500K $505K $490K $485K $497K $499K $510K $510K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

600

2 1

500

4+ bdrms

400

60%

3 bdrms

300

51%

43%

38%

200

29%

305

24%

2 bdrms

100

14%

626

154

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

<2 bdrms

S-L RATIO SALES INVENTORY

127 76 60%

545 278 51%

286 109 38%

59 14 24%

21 6 29%

9 0 n/a

7 1 14%

7 3 43%

363

Copyright© May4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMay4,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 13 ●

burnabynorth DETACHED -APRIL 2023

SALES TO LISTINGSRATIO 36% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 0.8% VS 2022

▼ 1.9% VS 2022

▼ 6% VS 2022

▼ 16% VS 2022

Therewere87 detachedlistingsin BurnabyN orth in April,10% aboveM arch and 6% lowerthan April2022. A prildetached hom esalesdecreased by 11% m onth-over-m onth,to31,and were16% below April 2022. Thesales-to-listing ratio fordetached in Burnaby N orth, at36% ,reflected aselers'm arket.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

31 87

37 93

-0.8% -1.9% -10% -16% -6%

35 79

11% 11% -20% -11% 10%

Thedetachedm edian pricein Aprilwas$2,090,000,a 11% increasefrom M arch and 1.9% below April2022.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$2,225,640 $2,090,000 36%

$2,006,763 $1,890,000 44%

$2,243,348 $2,130,000 40%

Theaveragesold pricewas$2,225,640,11% abovelast m onth and down 0.8% toApril2022.

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

131

122

2.32

109

2.15

2.14

1.36

1.32

1.25

$2.13M $2.20M

$2.09M

$2.04M $2.08M

$2.04M $1.96M

$1.96M $1.93M $1.89M

$1.79M

$1.75M $1.71M

22-Apr

23-M ar 23-Apr

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

50%

48%

22%

17%

<$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-L RATIO SALES INVENTORY

2 0 n/a

29 14 48%

20 10 50%

18 3 17%

18 4 22%

●

burnabynorth TOWNHOME-APRIL 2023

SALES TO LISTINGSRATIO 68% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▼ 5% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 4% VS 2022

▼ 9% VS 2022

▲ 48% VS 2022

▲ 92% VS 2022

Therewere34 townhom elistingsin BurnabyN orth in April,3% aboveM arch and 48% higherthan April2022. Apriltownhom esalesincreased by53% m onth-over-m onth,to23,and were92% aboveApril 2022. Thesales-to-listing ratio fortow nhom esin Burnaby N orth,at68% ,reflected aselers'm arket. Thetownhom em edian pricein Aprilwas$899,900,a 1.7% increasefrom M arch and 9% below April2022. Theaveragesold pricewas$933,013,4% abovelast m onth;theaveragePSF salepricewas$643,down 1.8% tolastm onth.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

23 34

12 23

-5% -4% -9% 30% 92% 48%

15 33

49% 53% 3%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$643 $933,013 $899,900 68%

$675 $967,050 $989,400 52%

$655 $898,960 $885,000 45%

-1.8% 4% 1.7%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● APR 202 ● APR 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

25 25 25

7 8

$989K $978K

$969K

$875K $868K

$880K $885K $900K

$860K

$770K $748K $775K

$748K

BURNABYNORTH REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

100%+ 100%+

4+ bdrms

71%

3 bdrms

2 bdrms

17%

14%

<2 bdrms

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

S-L RATIO SALES INVENTORY

7 1 14%

7 5 71%

9 10 111%

4 6 150%

6 1 17%

1 0 n/a

Copyright© May4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMay4,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 15 ●

burnabynorth CONDO -APRIL 2023

SALES TO LISTINGSRATIO 43% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▼ 0.7% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 1.9% VS 2022

▼ 7% VS 2022

▼ 6% VS 2022

▲ 4% VS 2022

Therewere270 condolistingsin BurnabyN orth in April, 8% aboveM arch and 6% lowerthan April2022.

Aprilcondosalesincreased by4% m onth-over-m onth,to 116,and were4% aboveApril2022.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No. 39% 112 286

% Change

No. 45% 112 251

% Change

Thesales-to-listing ratio forcondosin Burnaby N orth,at 43% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

43% 116 270

-0.7% -1.9% -7% 10% 4% -6%

4% 8%

Thecondom edian pricein Aprilwas$680,000,a4% decreasefrom M arch and 7% below April2022. Theaveragesold pricewas$737,486,0.8% below last m onth;theaveragePSF salepricewas$920,down 0.9% tolastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

-4% -4%

$920 $737,486 $680,000

$929 $743,763 $707,500

$926 $751,767 $729,000

-0.9% -0.8%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● APR 202 ● APR 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

287

309

286

268

264

300 301

253

270

257

251

245

218

124

88 82

$729K $699K

$708K $680K

$704K $667K $707K $661K

$650K $671K $676K

$651K $692K

BURNABYNORTH REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

97%

4+ bdrms

3 bdrms

55%

30%

21%

2 bdrms

14%

159

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

<2 bdrms

S-L RATIO SALES INVENTORY

0 1 n/a

38 37 97%

84 46 55%

80 17 21%

33 10 30%

14 2 14%

14 3 21%

7 0 n/a

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