the rennie review - June 2022

the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 14 SUB-MARKETS IN THE VANCOUVER REGION

published June 2022

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 47 48 51

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 Delta

New Westminster North Vancouver

Richmond Squamish

Surrey

Vancouver East

Vancouver Downtown

Vancouver West West Vancouver

53 AREA MAPS

56 CURRENT PROJECTS

Copyright © 2022 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 June 7 2022. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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

balance amidst Vancouver’s housing gymnastics

Swelling supply and declining demand have conspired to create more moderate conditions in the housing market of the Vancouver Region—so much so, in fact, that for the first time in two years the detached home segment shifted into balanced territory.

at higher prices, conditions are more balanced—even favouring buyers at the extreme end of the value spectrum—with $1.5-2M homes accompanied by a S-L ratio of 20%, and $2-3M homes a 15% S-L ratio. For homes priced at $3M or more—out of reach for the average buyer, to be sure—the S-L ratio is 8%. In sum, the segment of the market in which most buyers participate continues to be more competitive than the overall numbers suggest, with detached homes priced below $1.5M accounting for 1 in 3 sales, but only 1 in 5 listings, regionally. If the market inertia —of expanding inventory and blunted sales—that has ensconced itself in 2022 continues as we transition through the month of June (or should we say, Juneuary) and into summer, don’t be surprised if the balanced conditions currently reserved for describing the detached segment become more contagious.

Over the past 24 months, Vancouver’s housing market has—along with many others nationally—been marked by ne’re- before-seen demand and ghosting supply. In turn, the painfully (for many) obvious consequence has been conditions that have been tilted strongly in favour of sellers, as defined by the sales-to-listing (S-L) ratio in the Vancouver Region exceeding 21%. Furthermore, it’s not just the overall S-L ratio that has remained above 21% every month since June 2020, but also that of each home type, as well—until May 2022, that is, when the S-L ratio for detached homes slipped to 18%. While the region’s detached segment is now technically balanced, the broader market for housing continues to favour sellers. The overall sales-to-listings ratio for May,

for example, came in at 27%—though this was the lowest such reading since August 2020. Notably, the S-L ratio has sagged to its current level from a much-more-robust 59% in just two months as sales activity has slowed and inventory continues its upward march. Despite this, the townhome and condo segments remain entrenched in sellers’ territory, with current S-L ratios of 34% and 38%, respectively. The variation that exists within the overall- balanced detached market deserves some attention. Specifically, when the market for houses is delineated by price range, it’s clear that the market for lower-priced homes continues to be the most competitive for buyers. For detached homes of less than $1.5M, for example, the market still favours sellers (with a S-L ratio of 28%). However,

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A - 3374 Sefton Street 4 Bed, 1,711 SF Brandon Blue PREC* 604.999.7792

Phil Chang PREC* 604.754.6678

Copyright © 2022 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 June 7, 2022. 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 -MAY 202

SALES TO LISTINGSRATIO 16% BALANCEDMARKET

▶ MARKETSUMMARY Therewere7,183 detached listingsin theVancouver Region in M ay,14% aboveApriland 5% lowerthan M ay 2021. M ay detached hom esalesdecreased by 26% m onth-over-m onth,to1,170,and were57% below M ay 2021. Thesales-to-listing ratio fordetached in the Vancouver Region,at16% ,reflected abalanced m arket.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 19% VS 2021

▼ 5% VS 2021

▼ 57% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

1,170 7,183

2,748 7,567

19% 19% -55% -57% -5%

1,575 6,295

-35% -26% 14%

Thedetachedm edian pricein M aywas$1,728,000,a4% decreasefrom Apriland 19% aboveM ay2021.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$2,043,413 $1,728,000 16%

$2,097,983 $1,800,000 25%

$1,710,596 $1,450,000 36%

Theaveragesold pricewas$2,043,413,3% below last m onth and up 19% toM ay2021.

-3% -4%

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

7,567

7,107

7,183

1.87

5,481

5,397

6,295

1.83

6,236

5,531

4,587

4,181

4,694

1.48

1.40

1.39

3,318

2,327

2,748

3,120

1,879

1,795

2,227

1,899

1,789

1,758

1,697

1,575 1,170

1,492

1,152

$1.83M $1.80M $1.73M $1.85M $1.89M

$1.60M $1.69M $1.69M

$1.45M $1.46M $1.45M $1.48M $1.54M

May-21

Apr-22

May-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

2000

1500

1000

35%

30%

25%

24%

500

20%

16%

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+ 1,971 153 8%

S-L RATIO SALES INVENTORY

92 32 35%

53 13 25%

144 43 30%

300 91 30%

832 199 24%

1,916 375 20%

1,003 163 16%

872 101 12%

Copyright© June7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune7,202 .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-MAY 202

SALES TO LISTINGSRATIO 31% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere2,367 townhom elistingsin theVancouver Region in M ay,18% aboveApriland 20% higherthan May 2021. M aytownhom esalesdecreased by19% m onth-over-m onth,to723,and were48% below M ay 2021. Thesales-to-listing ratio fortow nhom esin theVancouver Region,at31% ,reflected aselers'm arket. Thetownhom em edian pricein M aywas$925,000,a6% decreasefrom Apriland 19% aboveM ay2021. Theaveragesold pricewas$1,016,241,3% below last m onth;theaveragePSF salepricewas$695,down 2% to lastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 21% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 20% VS 2021

▲ 19% VS 2021

▲ 20% VS 2021

▼ 48% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

31% 723 2,367

1,400 1,969

21% 20% 19% -57% -48% 20%

45% 896 2,004

-32% -19% 18%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$573 $847,236 $775,000 71%

$695 $1,016,241 $925,000

$712 $1,049,361 $982,944

-2% -3% -6%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● MAY 2021 ● MAY 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

2,367

1,910

1,969

2,004

1,674

1,679

1,306

1,254

1,400

1,227

1,193

1,377

1,076

973

782

766

1,013

1,001 942

987

925

914

896

723

587

574

$990K $1.02M $1000K

$983K $925K

$847K $880K $900K

$775K $785K $781K $790K $834K

VANCOUVERREGION REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

122

4+ bdrms

800

547

600

393

3 bdrms

1,245

400

41% 43%

32%

28%

190

26% 24%

22%

2 bdrms

200

17%

538

<$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

24 4 17%

66 27 41%

378 162 43%

906 251 28%

439 142 32%

303 79 26%

177 42 24%

74 16 22%

Copyright© June7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune7,202 .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 -MAY 202

SALES TO LISTINGSRATIO 35% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 18% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 19% VS 2021

▲ 17% VS 2021

▼ 12% VS 2021

▼ 34% VS 2021

Therewere5,306 condolistingsin theVancouverRegion in M ay,13% aboveApriland 12% lowerthan M ay2021.

M aycondosalesdecreased by17% m onth-over-m onth, to1,869,and were34% below M ay2021.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

Thesales-to-listing ratio forcondosin the Vancouver Region,at35% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

1,869 5,306

2,829 6,001

18% 19% 17% -25% -34% -12%

2,249 4,680

-1.8% -2% -1% -27% -17% 13%

Thecondom edian pricein M aywas$673,000,a1.0% decreasefrom Apriland 17% aboveM ay2021. Theaveragesold pricewas$763,689,2% below last m onth;theaveragePSF salepricewas$892,down 1.8% tolastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$892 $763,689 $673,000 35%

$756 $640,843 $574,000 47%

$909 $783,176 $680,000 48%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● MAY 2021 ● MAY 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

6,001

5,628

6,051

5,302

5,306

5,103

4,072

4,680

4,617

3,620

4,075

3,16

2,829

2,441

2,363

2,230

2,966

2,769

2,401

2,382

2,249

1,869

2,234

2,192

2,007

1,731

$695K $685K $680K $673K

$628K $671K

$583K $590K $598K $608K $620K

$574K $575K

VANCOUVERREGION REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

1600

36 2

1400

4+ bdrms

1200

1000

106

3 bdrms

800

578

48%

42%

600

34%

31%

29%

1,041

400

2 bdrms

19%

15%

3,016

200

720

<$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

208 65 31%

1,258 608 48%

1,531 637 42%

871 300 34%

417 122 29%

315 61 19%

316 46 15%

390 30 8%

1,676

Copyright© June7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune7,202 .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 -MAY 202

SALES TO LISTINGSRATIO 17% BALANCEDMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 18% VS 2021

▲ 17% VS 2021

▼ 11% VS 2021

▼ 49% VS 2021

Therew ere 4,235 detached listingsin the G reater Vancouverboard areain M ay,14% aboveApriland 11% lowerthan M ay2021. M ay detached hom esalesdecreased by 24% m onth-over-m onth,to726,and were49% below M ay 2021. Thesales-to-listing ratio fordetached in the G reater Vancouverboard area,at17% ,reflected abalanced market. Thedetachedm edian pricein M aywas$1,910,556,a4% decreasefrom Apriland 17% aboveM ay2021.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

17% 726 4,235

1,421 4,739

18% 17% -43% -49% -11%

26% 958 3,714

-1.8% -4% -34% -24% 14%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$1,934,693 $1,630,000 30%

Theaveragesold pricewas$2,277,673,1.8% below last m onth and up 18% toM ay2021.

$2,319,636 $1,998,500

$2,277,673 $1,910,556

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

4,523

4,739

4,235

3,656

1.85

4,051

1.81

1.82

3,254 3,714

3,688

2,875

2,799

3,180

1.52

1.45

1.44

2,264

2,21

1,299

1,264

1,421

1,092

1,009

985

1,044

726

958

935

950

793

625

$1.99M $2.01M $2.00M $2.00M $1.91M

$1.76M $1.85M $1.85M

$1.63M $1.63M $1.61M $1.65M $1.67M

May-21

Apr-22

May-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

1500

1000

36%

34%

32%

500

29%

22%

13%

<$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+ 1,534 130 8%

S-L RATIO SALES INVENTORY

28 10 36%

28 8 29%

77 26 34%

117 38 32%

328 94 29%

951 212 22%

599 133 22%

573 75 13%

●

greatervancouverboard area TOWNHOME-MAY 202

SALES TO LISTINGSRATIO 36% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,123 townhom elistingsin theG reater Vancouverboard areain M ay,22% aboveApriland no changetoM ay2021. M aytownhom esalesdecreased by20% m onth-over-m onth,to403,and were42% below M ay 2021. Thesales-to-listing ratio fortow nhom esin theG reater Vancouverboard area,at36% ,reflected aselers'm arket. Thetownhom em edian pricein M aywas$1,029,900,a 6% decreasefrom Apriland 15% aboveM ay2021. Theaveragesold pricewas$1,121,705,1.6% below last m onth;theaveragePSF salepricewas$799,down 1.6% tolastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 17% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 15% VS 2021

0% VS 2021

▼ 42% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No. 55% 503 922

% Change

TOTALLISTINGS TOTALSALES

36% 403 1,123

62% 692 1,123

17% 15% 15% -42% -42% 0%

-1.6% -1.6% -6% -34% -20% 22%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$799 $1,121,705 $1,029,900

$812 $1,139,503 $1,100,000

$682 $972,136 $892,500

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● MAY 2021 ● MAY 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,123

964

792

922

825

692

623

755

597

599

667

500

629

387

508

502

503

493

477

403

467

284 446

365

$1.10M $1.10M $1.15M

$1.10M $1.03M

$995K $969K

$899K $960K $945K

$893K $900K $899K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

300

4+ bdrms

250

200

65%

213

3 bdrms

150

614

46%

44%

35%

100

28%

115

23% 22%

2 bdrms

275

10%

<$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

10 1 10%

26 12 46%

115 75 65%

290 101 35%

212 94 44%

233 66 28%

163 38 23%

74 16 22%

Copyright© June7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune7,202 .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 -MAY 202

SALES TO LISTINGSRATIO 36% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 13% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 16% VS 2021

▲ 14% VS 2021

▼ 13% VS 2021

▼ 28% VS 2021

Therewere4,081 condolistingsin theG reater Vancouverboard areain M ay,11% aboveApriland 13% lowerthan M ay2021. M aycondosalesdecreased by14% m onth-over-m onth, to1,466,and were28% below M ay2021.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

Thesales-to-listing ratio forcondosin the G reater Vancouverboard area,at36% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

1,466 4,081

2,048 4,714

13% 16% 14% -17% -28% -13%

1,695 3,683

-3% -3% -1.8% -22% -14% 11%

Thecondom edian pricein M aywas$721,950,a1.8% decreasefrom Apriland 14% aboveM ay2021. Theaveragesold pricewas$819,599,3% below last m onth;theaveragePSF salepricewas$954,down 3% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$954 $819,599 $721,950 36%

$841 $708,328 $634,500 43%

$979 $841,291 $735,000 46%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● MAY 2021 ● MAY 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

4,714

4,397

4,780

4,465

4,081

3,683

4,166

3,412

3,838

3,226

2,313

2,856

2,546

1,863

1,827

1,808

2,396

2,048

1,785 1,678

1,466

1,695

1,632 1,630

1,464

1,315

$735K $740K $735K $722K

$680K $725K

$635K $635K $650K $645K $655K $655K $668K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

1200

36 2

1000

4+ bdrms

800

3 bdrms

55%

600

491

48%

36%

400

30%

793

26%

2 bdrms

20%

15%

2,253

200

576

<$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

120 31 26%

652 360 55%

1,120 534 48%

810 288 36%

387 118 30%

301 60 20%

305 45 15%

386 30 8%

1,301

Copyright© June7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune7,202 .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 -MAY 202

SALES TO LISTINGSRATIO 15% BALANCEDMARKET

▶ MARKETSUMMARY Therew ere 2,948 detached listingsin the FraserValey board areain M ay,14% aboveApriland 4% higherthan May 2021. M ay detached hom esalesdecreased by 28% m onth-over-m onth,to440,and were67% below M ay 2021. Thesales-to-listing ratio fordetached in the FraserValey board area,at15% ,reflected abalanced m arket.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 13% VS 2021

▲ 16% VS 2021

▲ 4% VS 2021

▼ 67% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

15% 440 2,948

1,321 2,828

13% 16% -68% -67% 4%

24% 611 2,581

-37% -28% 14%

Thedetachedm edian pricein M aywas$1,549,500,a4% decreasefrom Apriland 16% aboveM ay2021.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$1,469,464 $1,331,000 47%

Theaveragesold pricewas$1,658,576,6% below last m onth and up 13% toM ay2021.

$1,761,248 $1,614,000

-6% -4%

$1,658,576 $1,549,500

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

2,948

2,828

2,584

2,227

2,581

1.85

1.78

1.77

2,185

1,788

1,741

1.61

1.58

1,843

1,306

1,514

1,321

1,025

909

841

807

1,054

959

850

777

744

696

440

523

$1.75M $1.78M $1.70M

$1.61M $1.55M

$1.56M $1.58M

$1.36M $1.41M $1.45M

$1.33M $1.29M $1.31M

May-21

Apr-22

May-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

1000

800

600

400

34%

28%

24%

21%

20%

200

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

64 22 34%

25 5 20%

67 16 24%

183 52 28%

504 105 21%

965 163 17%

404 29 7%

299 26 9%

437 22 5%

●

fraservaley board area TOWNHOME-MAY 202

SALES TO LISTINGSRATIO 26% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,244 townhom elistingsin theFraserValey board areain M ay,15% aboveApriland 47% higherthan May 2021. M aytownhom esalesdecreased by18% m onth-over-m onth,to320,and were55% below M ay 2021. Thesales-to-listing ratio fortow nhom esin theFraser Valey board area,at26% ,reflected aselers'm arket. Thetownhom em edian pricein M aywas$870,000,a5% decreasefrom Apriland 21% aboveM ay2021. Theaveragesold pricewas$883,422,5% below last m onth;theaveragePSF salepricewas$564,down 3% to lastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 21% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 22% VS 2021

▲ 21% VS 2021

▲ 47% VS 2021

▼ 55% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 83% 706 846

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

26% 320 1,244

21% 22% 21% -69% -55% 47%

36% 392 1,082

-29% -18% 15%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$564 $883,422 $870,000

$583 $933,310 $913,500

-3% -5% -5%

$466 $724,801 $720,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● MAY 2021 ● MAY 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,244

1,082

924

787

846 706

710

628

625

552

514

508

438

567

416

512

479

320

447

409

392

320

376

290

200

$930K $970K $950K

$914K $870K

$824K $870K

$725K $729K $735K $765K $786K

$720K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

600

4+ bdrms

347

500

400

180

3 bdrms

631

300

38%

33%

200

29%

24%

21%

21% 19%

2 bdrms

263

100

3 2

<$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

14 3 21%

40 15 38%

263 87 33%

616 150 24%

227 48 21%

70 13 19%

14 4 29%

Copyright© June7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune7,202 .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 -MAY 202

SALES TO LISTINGSRATIO 33% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,225 condolistingsin theFraserValey board areain M ay,23% aboveApriland 5% lowerthan May 2021. M aycondosalesdecreased by27% m onth-over-m onth, to403,and were48% below M ay2021.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 26% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 21% VS 2021

▲ 23% VS 2021

▼ 5% VS 2021

▼ 48% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No. 55% 550 997

% Change

Thesales-to-listing ratio forcondosin the FraserValey board area,at33% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

33% 403 1,225

60% 778 1,287

26% 21% 23% -46% -48% -5%

-40% -27% 23%

Thecondom edian pricein M aywas$550,000,a3% decreasefrom Apriland 23% aboveM ay2021. Theaveragesold pricewas$560,304,8% below last m onth;theaveragePSF salepricewas$668,down 4% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$668 $560,304 $550,000

$695 $606,579 $566,300

-4% -8% -3%

$531 $461,156 $446,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● MAY 2021 ● MAY 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,225

1,287

1,163

1,271

905

849

997

937

764

778

660

801

779

598

542

614

562

555

550

517

403

420

415

373

$572K $570K $566K $550K

$529K $564K

$481K $510K

$446K $450K $450K $465K $473K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

600

4+ bdrms

500

400

3 bdrms

300

39% 41%

200

248

25%

2 bdrms

20%

763

13%

100

7% 9%

144

<$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

88 34 39%

606 248 41%

411 103 25%

61 12 20%

30 4 13%

14 1 7%

11 1 9%

4 0 n/a

375

Copyright© June7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune7,202 .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 -MAY 202

SALES TO LISTINGSRATIO 21% BALANCEDMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 17% VS 2021

▲ 24% VS 2021

▼ 25% VS 2021

▼ 48% VS 2021

Therewere120 detachedlistingsin BurnabyN orth in M ay,29% aboveApriland 25% lowerthan M ay2021. M ay detached hom esalesdecreased by 34% m onth-over-m onth,to25,and were48% below M ay 2021. Thesales-to-listing ratio fordetached in Burnaby N orth, at21% ,reflected abalanced m arket. Thedetachedm edian pricein M aywas$2,218,000,a 1.9% increasefrom Apriland 24% aboveM ay2021.

THISMONTH No. $2,293,860 $2,218,000 21% 25 120

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

$1,954,132 $1,783,000 30% 48 161

17% 24% -30% -48% -25%

38 93

0.5% 1.9% -49% -34% 29%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$2,281,365 $2,177,500 41%

Theaveragesold pricewas$2,293,860,0.5% abovelast m onth and up 17% toM ay2021.

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

154

161

120

2.27

2.20

2.11

121

100

105

1.38

1.37

1.36

$2.30M $2.18M $2.22M $2.17M $2.12M

$1.92M $1.81M

$1.93M $1.99M

$1.78M

$1.70M $1.68M $1.82M

May-21

Apr-22

May-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

58%

18%

10%

<$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

5 0 n/a

34 6 18%

26 15 58%

26 1 4%

29 3 10%

●

burnabynorth TOWNHOME-MAY 202

SALES TO LISTINGSRATIO 54% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 20% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 22% VS 2021

▲ 16% VS 2021

▼ 56% VS 2021

▼ 63% VS 2021

Therewere28 townhom elistingsin BurnabyN orth in M ay,22% aboveApriland 56% lowerthan M ay2021. M aytownhom esalesincreased by25% m onth-over-m onth,to15,and were63% below M ay 2021. Thesales-to-listing ratio fortow nhom esin Burnaby N orth,at54% ,reflected aselers'm arket. Thetownhom em edian pricein M aywas$978,000,a 1.2% decreasefrom Apriland 16% aboveM ay2021. Theaveragesold pricewas$978,733,1.2% abovelast m onth;theaveragePSF salepricewas$698,up 3% to lastm onth.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

15 28

40 64

20% 22% 16% -14% -63% -56%

12 23

25% 22%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$698 $978,733 $978,000 54%

$580 $805,394 $846,500 63%

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

3% 1.2% -1.2% 3%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● MAY 2021 ● MAY 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

38 37

$950K $989K $978K

$919K

$896K

$857K $883K $905K

$847K

$789K $750K

$775K

$750K

BURNABYNORTH REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

100%+

4+ bdrms

3 bdrms

50%

30%

2 bdrms

<$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

10 3 30%

10 5 50%

3 6 200%

2 1 50%

2 0 n/a

1 0 n/a

Copyright© June7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune7,202 .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 -MAY 202

SALES TO LISTINGSRATIO 37% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 18% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 19% VS 2021

▲ 16% VS 2021

▲ 6% VS 2021

▼ 21% VS 2021

Therewere302 condolistingsin BurnabyN orth in M ay, 6% aboveApriland 6% higherthan M ay2021.

M aycondosalesincreased by0.9% m onth-over-m onth, to113,and were21% below M ay2021.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 50% 143 284

% Change

No. 39% 112 286

% Change

Thesales-to-listing ratio forcondosin Burnaby N orth,at 37% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

37% 113 302

18% 19% 16% -26% -21% 6%

-1.6% 1.3% -2% -4% 0.9% 6%

Thecondom edian pricein M aywas$712,800,a2% decreasefrom Apriland 16% aboveM ay2021. Theaveragesold pricewas$761,356,1.3% abovelast m onth;theaveragePSF salepricewas$911,down 1.6% tolastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$911 $761,356 $712,800

$926 $751,767 $729,000

$771 $641,398 $612,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● MAY 2021 ● MAY 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

286

302

304

284

302

297

290

208

200

230

176

167

180

132

127

143

124

160

145

13 13

104

101

$778K

$750K $729K $713K

$693K $700K

$665K $650K $644K

$612K $617K

$615K $655K

BURNABYNORTH REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

120

4+ bdrms

100

3 bdrms

56%

43%

36%

22%

2 bdrms

20% 20%

15%

196

<$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

5 0 n/a

54 30 56%

118 43 36%

65 28 43%

32 7 22%

13 2 15%

10 2 20%

5 1 20%

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