the rennie review DATA DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR SUB MARKETS IN THE VANCOUVER REGION
published September 2020
table of contents
02 INTRO 03 WHAT YOU NEED TO KNOW 04 FEATURED LISTINGS
Each month, we release the rennie review, a detailed look at the real estate marketplace in Vancouver and the Lower Mainland. This report examines the market stats by neighbourhood, current rennie projects, and more.
NEIGHBOURHOOD PROFILES
05 08 11 14 17 20 23 26 29 32 35 38 41 44 46
Vancouver Region
Greater Vancouver Board Area Fraser Valley Board Area
Burnaby North Burnaby South
Ryan Berlin DIRECTOR OF INTELLIGENCE & SENIOR ECONOMIST rberlin@rennie.com
Bowen Behan Pausey BUSINESS DATA ANALYST, HOUSING bbehan@rennie.com
Coquitlam
Langley
North Vancouver
Richmond Squamish
Surrey
Vancouver East Vancouver West West Vancouver
Vancouver Region Maps
49 CURRENT PROJECTS
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of July 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 2
active buyers generate the most august sales in a decade .
space? More space to distantly-socialize (with extended family and friends)? And to the extent that these decisions are the driving force behind the shift in the composition of homes sales, is it a permanent shift or short- term adjustment within the marketplace? On the latter point only time will tell, though it is likely that in the longer-run more historically-typical purchasing patterns will re-establish themselves. Sustained buying activity has continued to support prices, which are higher by 9% for townhomes, 4% for condos, and 2% for detached homes (on average) since February, right before the pandemic began. As we enter the year’s final months it will be the competing effects of continued job recovery, low interest rates, and pent-up demand on the one hand, and the potential for an expansion of available housing supply (as the mortgage deferral window begins closing this month) on the other hand, that will dictate the trajectory of prices as we turn the corner into 2021.
in August averaged 250, 7% higher than July’s 234. Through the first eight months of 2020, the region’s total sales count is now 12% higher than in the same period of 2019, with the relative demand for detached homes and townhomes surging. For example, between January and August 2020, detached sales were up by 19% compared to the same period last year, with townhome sales up 16%; in comparison, condo sales were 3% higher. Whether or not this is simply a function of pent-up demand, or is a reflection of changing housing needs and/or preferences in response to the pandemic that began to materially impact the Vancouver Region inMarch is an interesting question to consider, along with others: are buyers seeking more space for themselves and their families as the plan to not only live but increasingly work in their homes? Are buyers seeking more storage
After registering more than 5,100MLS sales in July, home buyers in the Vancouver Region were active again in August, with last month’s total sales reaching 5,002. While, historically, August is typically a slower month for sales, with would-be buyers and sellers spending more time at beaches than open houses, this August’s sales were the second-highest monthly total for 2020 (behind only July), the second-highest monthly total since June 2017, and the highest August total since 2009. Compared to August 2019, last month’s sales tally was up 44%, and it was 33% above the August’s sales were 3% below July’s (5,002 versus 5,148), there were only 20 reporting days in August (these are days on which housing transactions are entered into the real estate boards’ records, with weekends typically excluded) compared to 22 in July. When adjusted for this, the daily sales count past-decade average for the month. It is also worth pointing out that while
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of July 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 3
featured listings SEARCH FOR THE HOME YOU LOVE AT RENNIE.COM
House , , NORTH VAN Beachview Drive Bed, , SF Danny Chow PREC* ..
990 Beach , , YALETOWN - Beach Avenue Bed, , SF Salina Kai PREC* ..
House , , ABBOTSFORD - Bakstad Road Bed, , SF Lorenzo Daminato PREC* ..
Domus
Crestmark II
Brava
, , YALETOWN - Marinaside Crescent Bed, , SF
, , DOWNTOWN Ph- Seymour Street Bed, , SF Christopher Boyd PREC* ..
, , YALETOWN - Homer Street Bed, , SF
Brandon Blue PREC* . .
Ryan Wong PREC* ..
Duplex
West
Townhome
,, MT. PLEASANT
, , FALSE CREEK - Manitoba Street Bed, , SF
, , MT. PLEASANT
- Watson Street Bed, , SF
E th Avenue Bed, , SF Linda Kang ..
Sarah Panther . .
Derek Kai PREC* ..
The Lions
Midori
Townhome
, DOWNTOWN - Alberni Street Bed, , SF
, PORT MOODY
, BURNABY
- Seaview Drive Bed, , SF Jenna Van Alstine ..
- Dunblane Avenue Bed, SF
Jordan Wong ..
Calvin Jiang . .
Francisco Village , RICHMOND - Jack Bell Drive Bed, , SF
Vancouver House , DOWNTOWN - Howe Street Bed, SF
The Murano Lofts , NEW WEST
- Rialto Court Bed, , SF Sheliza Vellani . .
Amy Chan . .
Mike Ross . .
Townhome , ABBOTSFORD - Yale Court Bed, , SF Jake Kim . .
House , CHILLIWACK Allard Street Bed, , SF Clarke Mallory PREC* ..
Interurban , NEW WEST - Begbie Street Bed, SF Reggie Tanzola PREC* . .
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of Sepember 8, 2020. 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.
4
DETACHED AUGUST vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
24 % DOWN
6 % UP
-
7 % UP
63 % UP
26 %
The number of detached listings in the Vancouver Region in August, at 7,999, were 0.7% higher month-over-month but 24% lower year-over-year. The 2,083 detached sales in August were 2% below last month but 63% higher vs last year. The sales-to-listings ratio decreased to 26%, as the Vancouver Region’s detached market remained in seller’s market territory. The benchmark price in August was $1.29M, 1.1% above July and 7% higher vs August 2019. The average sold price was $1.40M, 0.7% above the previous month and 6% above August 2019.
VS
VS
VS
VS
VS
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
7,999 2,083
7,941 2,128
0.7% 10,478
-24% 63% 113%
TOTAL SALES
-2% -3%
1,280
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
26%
27%
12%
$1,285,300 $1,271,000 1.1% $1,204,000 $1,391,068 $1,381,800 0.7% $1,307,045
7% 6%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.29
$1.26
$1.25
$1.23
$1.21
$1.21
$1.20
1.84
1.83
1.79
10,478
9,488
1.07
1.06
7,832
1.06
7,999
7,012
6,992
6,178
2,083
1,614
1,600
1,280
1,262
1,122
688
Aug-19
Jul-20
Aug-20
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES
TOTAL INVENTORY
S L RATIO
SELLER'S MARKET
BALANCED
BUYER'S MARKET
. . . 0 0 0 0 0
S-L RATIO SALES INVENTORY
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
5
TOWNHOME AUGUST vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
18 % DOWN
8 % UP
6 % UP
59 % UP
SELLER’S 37 %
The number of townhome listings in the Vancouver Region decreased 1.5% from last month, settling at 2,871, and were 18% below August 2019. Townhome sales, at 1,056, were 3% lower vs last month but 59% above August 2019. The sales-to-listings ratio was unchanged at 37% in August, as the Vancouver Region’s townhome segment remained in a seller’s market. The benchmark price in August was 0.6% above July, at $697,800, and was 4% higher year-over-year. The average sold price was $748,441 in August, (increasing 4% vs July) while the average PSF sales price was $498 (increasing 3%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
2,871 1,056
2,914 1,089
-1.5% 3,515
-18% 59% 95%
TOTAL SALES
-3%
664 19%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
37%
37%
-1.6%
$697,800 $693,600 $748,441 $720,323
0.6% $673,000 4% $690,057
4% 8% 6%
$498
$484
3%
$471
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$673,000 $668,900 $669,500 $676,500 $684,500 $688,400 $697,800
3,515
3,150
2,831
2,871
2,359
2,293
1,976
1,056
863
860
677
664
578
393
VANCOUVR REGION REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
194
4+ bdrms
BUYER'S MARKET
537
597
3 bdrms
1,574
265
<3 bdrms
. . . . 0 0 0 0
760
S-L RATIO SALES INVENTORY
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
6
CONDO AUGUST vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO 22 %
MARKET SUMMARY ›
6 % UP
4 % UP
9 % UP
21 % UP
There were 7,874 condo listings in the Vancouver Region in August, 3% above July and 9% higher vs August 2019. August condo sales decreased by 4% month-over- month but were 21% above August 2019. The sales-to-listings ratio for condos in the Vancouver Region decreased to 22%, remaining a seller’s market. The condo benchmark price in August was $658,200, increasing 0.3% from July and 4% higher vs August 2019. The average sold price was $625,490, 0.8% above last month; the average PSF sales price was $724, up 2% from last month.
VS
VS
VS
VS
VS
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
7,874 1,759
7,609 1,832
3%
7,212 1,449
9%
TOTAL SALES
-4% -7%
21% 11%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
22%
24%
20%
$658,200 $656,500 $625,490 $620,667
0.3% $631,500 0.8% $591,621
4% 6% 4%
$724
$706
2%
$697
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$631,500 $639,300 $632,500 $651,000 $660,500 $654,000 $658,200
7,874
7,212
7,016
6,598
5,821
5,210
4,301
1,797
1,759
1,512
1,449
1,375
1,359
657
VANCOUVR REGION REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
96
3+ bdrms
BUYER'S MARKET
788
975
2 bdrms
4,700
688
<2 bdrms
. . . . 0 0 0 0
2,386
S-L RATIO SALES INVENTORY
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
7
DETACHED AUGUST greater vancouver board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
24 % DOWN
5 % UP
-
7 % UP
56 % UP
SELLER’S 23 %
Detached listings in the REBGV decreased to 4,808 in August, 1.5% above July but 24% lower vs August 2019. Detached sales, at 1,108, decreased 2% compared to July but were 56% higher vs August 2019. The sales-to-listings ratio decreased to 23%, as the REBGV detached market remained in seller’s market territory. The detached benchmark price in August was $1.49M, up 0.9% month-over-month and a 7% increase year-over-year. The average sold price was $1.64M, up 2% from the previous month and 5% higher year-over-year.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
4,808 1,108
4,735 1,134
1.5%
6,336
-24% 56% 105%
TOTAL SALES
-2% -4%
711 11%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
23%
24%
$1,491,300 $1,477,800 0.9% $1,398,700
7% 5%
$1,638,546 $1,602,141
2% $1,558,503
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.49
$1.46
$1.45
$1.43
$1.41
$1.40
$1.40
1.85
1.85
1.81
6,336
5,778
1.18
1.18
1.17
4,808
4,645
4,304
4,225
3,853
1,108
945
869
711
682
603
392
Aug-19
Jul-20
Aug-20
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES
TOTAL INVENTORY
S L RATIO
SELLER'S MARKET
BALANCED
BUYER'S MARKET
. . . 0 0 0 0 0
S-L RATIO SALES INVENTORY
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
8
greater vancouver board area
TOWNHOME AUGUST
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
19 % DOWN
9 % UP
8 % UP
57 % UP
SELLER’S 33 %
The number of townhome listings in the REBGV increased to 1,616 in August, 1.2% below July and 19% lower year-over-year. Townhome sales in August, at 540, were up 1.1% vs July and 57% above last year. The sales-to-listings ratio was unchanged at 33% as the REBGV townhome market remained a seller’s market. The townhome benchmark price in August was $806,400, 1.1% above July and 4% higher than in August 2019. The average sold price was $882,823, with an average PSF sales price of $610 (up 3% and 4%, respectively, vs July).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,616
1,636
-1.2% 1,996
-19% 57% 94%
TOTAL SALES
540 33%
534 33%
1.1%
344 17%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
2%
$806,400 $797,700 $882,823 $853,183
1.1% $772,100 3% $811,850
4% 9% 8%
$610
$589
4%
$564
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$772,100 $771,500 $776,200 $783,400 $791,200 $790,800 $806,400
1,996
1,790
1,616
1,577
1,345
1,311
1,132
540
465
412
344
339
293
193
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
78
4+ bdrms
BUYER'S MARKET
251
310
3 bdrms
894
152
<3 bdrms
. . . . 0 0 0 0
471
S-L RATIO SALES INVENTORY
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
9
greater vancouver board area
CONDO AUGUST
AVERAGE PRICE
AVERAGE PSF PRICE 4 % UP
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
6 % UP
7 % UP
19 % UP
SELLER’S 22 %
The number of condo listings in the REBGV decreased to 6,053 in August, 4% above July and 7% higher vs August 2019. At 1,337, condo sales were 5% lower month-over- month but 19% higher year-over-year. The sales-to-listings ratio decreased to 22%, as the REBGV condo market remained favourable to sellers. The condo benchmark price in August was $685,800, up 0.5% from July and up 4% compared to August 2019. The average sold price was $693,067 (increasing 1.7% from July) with an average PSF sales price of $801 (3% higher vs July).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
6,053 1,337
5,804 1,402
4%
5,636 1,119
7%
TOTAL SALES
-5% -9%
19% 11%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
22%
24%
20%
$685,800 $682,500 $693,067 $681,270
0.5% $656,300 1.7% $651,230
4% 6% 4%
$801
$779
3%
$772
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$656,300 $654,800 $659,500 $680,300 $688,800 $680,800 $685,800
6,053
5,636
5,329
5,066
4,358
3,951
3,297
1,387
1,337
1,119
1,105
1,062
1,047
507
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
83
3+ bdrms
BUYER'S MARKET
668
698
2 bdrms
3,474
556
<2 bdrms
. . . . 0 0 0 0
1,911
S-L RATIO SALES INVENTORY
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
10
fraser valley board area
DETACHED AUGUST
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
23 % DOWN
12 % UP
-
7 % UP
71 % UP
SELLER’S 31 %
The number of August detached listings in the Fraser Valley board area were 0.5% lower vs July (at 3,191) and 23% lower vs August 2019. Detached sales decreased 1.9% from July, to 975, but were up 71% vs August 2019. The sales-to-listings ratio was unchanged at 31%, as the board area’s condo market remained in seller’s market territory. The benchmark price in August was $1.02M, up 1.2% month-over-month and 7% higher year-over-year. The average sold price in August was $1.11M, 1.8% lower month-over-month but 12% higher year-over-year.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
3,191
3,206
-0.5% 4,142
-23% 71% 122%
TOTAL SALES
975 31%
994 31%
-1.9% -1.5%
569 14%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$1,019,600 $1,008,000 1.2% $954,100 $1,109,832 $1,130,424 -1.8% $992,832
7%
12%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$1,019,600
$954,100 $952,600 $952,600 $970,200 $992,300 $994,500
1.81
1.79
1.74
4,142
1.30
1.29
1.29
3,710
3,187
3,191
2,767
2,708
2,325
975
731
669
580
569
519
296
Aug-19
Jul-20
Aug-20
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES
TOTAL INVENTORY
S L RATIO
SELLER'S MARKET
BALANCED
BUYER'S MARKET
. . . 0 0 0 0 0
S-L RATIO SALES INVENTORY
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
11
TOWNHOME AUGUST fraser valley board area
AVERAGE PRICE
AVERAGE PSF PRICE 3 % UP
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
17 % DOWN
9 % UP
61 % UP
SELLER’S 41 %
The number of townhome listings in the Fraser Valley board area increased to 1,255 in August, 1.8% below last month and 17% lower than last year. At 516, townhome sales were down 7% vs July and 61% above last year. The sales-to-listings ratio, at 41%, remained favour- able market for sellers. The benchmark price in August was $563,900, up 0.1% from last month and 3% higher vs last year. The average sold price, at $607,809, was 3% higher between July and August while the average PSF sales price was 0.8% lower (at $380).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,255
1,278
-1.8% 1,519
-17% 61% 95%
TOTAL SALES
516 41%
555 43%
-7% -5%
320 21%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$563,900 $563,200 $607,809 $592,491
0.1% $547,300 3% $559,129 -0.8% $370
3% 9% 3%
$380
$383
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$547,300 $541,800 $538,900 $545,300 $552,800 $559,600 $563,900
1,519
1,360
1,254
1,255
982
1,014
844
516
451
395
338
320
285
200
FVREB
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
116
BUYER'S MARKET
4+ bdrms
286
287
3 bdrms
680
113
<3 bdrms
. . . . 0 0 0 0 QD QD QD
289
S-L RATIO SALES INVENTORY
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
12
fraser valley board area
CONDO AUGUST
AVERAGE PRICE
AVERAGE PSF PRICE 8 % UP
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
6 % UP
16 % UP
28 % UP
SELLER’S 23 %
There were 1,821 condo listings in the Fraser Valley board area in August, 0.9% above last month and 16% higher vs August of last year. At 422, condo sales were 1.9% lower month-over- month but 28% above August 2019. Decreasing to 23%, the board area’s condo sales-to- listings ratio reflected seller’s market conditions. The condo benchmark price in August was $437,300, unchanged from July and 4% higher vs August 2019. The average sold price was $411,390 (3% below July), while the average PSF sales price was $478 (1.7% above July).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,821
1,805
0.9% -1.9%
1,576
16% 28% 11%
TOTAL SALES
422 23%
430 24%
330 21%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
-3%
$437,300 $437,300 $411,390 $423,075
0.0% $420,600 -3% $389,494
4% 6% 8%
$478
$470
1.7%
$443
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$420,600 $417,000 $418,600 $428,400 $438,000 $435,300 $437,300
1,821
1,687
1,576
1,532
1,463
1,259
1,004
422
410
407
330
313
312
150
FVREB
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
. . . . 0 0 0 0 QD QD SELLER'S MARKET BALANCED BUYER'S MARKET S-L RATIO SALES INVENTORY
13
3+ bdrms
120
277
2 bdrms
1,226
132
<2 bdrms
475
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
13
DETACHED AUGUST burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
38 % DOWN
0.1 % DOWN
-
7 % UP
81 % UP
44 %
The number of detached listings in Burnaby North in August, at 132, were 3% lower month-over- month and 38% lower year-over-year. With 58 in August, detached sales were 61% above last month and 81% higher vs last year. The sales-to-listings ratio increased to 44%, as Burnaby North’s detached market remained favour- able to sellers. The benchmark price in August was $1.48M, 0.1% below July but 7% above August 2019. The average sold price was $1.67M, up 6% from the previous month but 0.1% below August 2019.
VS
VS
VS
VS
VS
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 136
% Change
No. 212
% Change
TOTAL LISTINGS
132
-3% 61% 66%
-38% 81% 191%
TOTAL SALES
58
36
32
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
44%
26%
15%
$1,477,400 $1,478,400 -0.1% $1,375,500
7%
$1,666,039 $1,565,832
6% $1,668,303 -0.1%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.49
$1.48
$1.47
$1.42
$1.39
$1.38
$1.37
2.02
2.01
1.91
212
1.20
1.20
1.19
167
132
120
111
105
96
58
49
32
31
23
23
14
Aug-19
Jul-20
Aug-20
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES
TOTAL INVENTORY
S L RATIO
SELLER'S MARKET
BALANCED
BUYER'S MARKET
. . . 0 0 0 0 0 QD QD QD QD
S-L RATIO SALES INVENTORY
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
14
TOWNHOME AUGUST burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE 5 % UP
BENCHMARK PRICE 1.5 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
10 % UP
17 % DOWN
23 % UP
SELLER’S 49 %
The number of townhome listings in Burnaby North decreased 15% from last month, settling at 55, and were 17% below August 2019. Townhome sales, at 27, were 108% higher than last month and 23% above August 2019. The sales-to-listings ratio jumped to 49% in August, as Burnaby North’s townhome segment transitioned to a seller’s market. The benchmark price in August was down 0.5% month-over-month, to $732,500, but was 1.5% above August 2019. The average sold price was $719,922 in August, (increasing 0.9% vs July) while the average PSF sales price was $549 (increasing 16%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
55 27
65 13
-15% 108% 145%
66 22
-17% 23% 47% 1.5% 10%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
49%
20%
33%
$732,500 $736,000 $719,922 $713,554
-0.5% $721,500 0.9% $652,364
$549
$474
16%
$525
5%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$721,500 $723,900 $725,000 $727,900 $727,900 $734,600 $732,500
75
66
58
59
55
48
42
27
22
20
17
13
12
4
BURNABY NORTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
2 2
4+ bdrms
SELLER'S MARKET
13
3 bdrms
BALANCED
28
BUYER'S MARKET
12
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD
25
S-L RATIO SALES INVENTORY
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
15
CONDO AUGUST burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE 7 % UP
BENCHMARK PRICE 2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
3 % UP
28 % UP
41 % UP
SELLER’S 26 %
There were 397 condo listings in Burnaby North in August, 14% above July and 28% higher vs August 2019. August condo sales increased by 22% month-over- month, to 104, and were 41% above August 2019. The sales-to-listings ratio for condos in Burnaby North increased to 26%, remaining a seller’s market. The condo benchmark price in August was $614,400, a 0.6% increase from July and 2% above August 2019. The average sold price was $616,056, 3% above last month; the average PSF sales price was $764, up 7% from last month.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 348
% Change
No. 311
% Change
TOTAL LISTINGS
397 104 26%
14% 22%
28% 41% 10%
TOTAL SALES
85
74
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
24%
7%
24%
$614,400 $610,900 $616,056 $599,222
0.6% $601,700 3% $600,550
2% 3% 7%
$764
$711
7%
$715
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$601,700 $590,300 $598,200 $613,000 $618,600 $605,500 $614,400
397
311
305
276
281
207
149
104
92
74
63
63
54
19
BURNABY NORTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
4
3+ bdrms
BUYER'S MARKET
42
64
2 bdrms
265
36
<2 bdrms
. . . . 0 0 0 0 QD QD QD
90
S-L RATIO SALES INVENTORY
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
16
Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56Made with FlippingBook - professional solution for displaying marketing and sales documents online