the rennie advance - February 2021

highlights • Supply remained constrained in January 2021, and was relatively unchanged from December, with just under 12,100 listings. Year-over-year inventory fell 12% while January’s 2021 inventory was 25% below the past-decade average. • Condo inventory was 18% higher on a year-over-year basis, while ground-oriented inventory was lower (by 31% for detached homes and 21% for townhomes). • After reaching their lowest inventory level ever in December 2020, detached listings remained below the 5,000-mark for a second consecutive month in January 2021. • The sales-to-listings (S-L) ratio for the Vancouver Region in January 2021 was 33%, a decrease from the S-L ratio of 42% seen last month but remaining a seller’s market for the 8th consecutive month. Seller’s market conditions prevailed across all home types: detached at 32%, townhomes at 51%, and condos at 28%.

total listings THE RENNIE ADVANCE

JANUARY 2021

10,000 12,000 14,000 16,000

vs Jan 2020 31%

10yr Jan Avg 7,960

0 2,000 4,000 6,000 8,000

DETACHED listings

4,625

vs 10yr Jan Avg 42%

January

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500

10yr Jan Avg 2,270

1,630

TOWNHOME listings

vs 10yr Jan Avg 28%

January

vs Jan 2020 21%

0 500

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

12,000

vs Jan 2020 18%

10,000

8,000

10yr Jan Avg 5,648

6,000

5,545

4,000

vs 10yr Jan Avg 2%

CONDO listings

January

2,000

0

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

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 2, 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.

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