highlights • For the 13th consecutive month, inventory contracted on a year-over-year basis (by 7% in October). While inventory was down 23% for detached homes and by 18% for townhomes, it was 20% higher for condos. • Compared to September, inventory in the Vancouver Region was 9% lower in October, almost double the typical September-to-October decline of 5%. Each home type had a decline in inventory: detached homes by 9%, townhomes by 14%, and condos by 6%. • For the 7th consecutive month, the overall sales-to-listings (S-L) ratio for the Vancouver Region increased (to 33% in October), reflecting conditions that continue to remain favourable to sellers (where the S-L ratio is greater than 21%). All market segments were in seller’s market territory, with an S-L ratio of 33% for detached homes, 50% for townhomes, and 26% for condos.
total listings THE RENNIE ADVANCE
OCTOBER
10,000 12,000 14,000 16,000
vs Oct 2019 23%
10yr Oct Avg 10,522
0 2,000 4,000 6,000 8,000
7,326
vs 10yr Oct Avg 30%
DETACHED listings
October
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500
vs Oct 2019 18%
10yr Oct Avg 2,967
2,579
vs 10yr Oct Avg 13%
TOWNHOME listings
October
0 500
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
12,000
vs Oct 2019 20%
10,000
7,909
8,000
10yr Oct Avg 7,125
6,000
4,000
vs 10yr Oct Avg 11%
CONDO listings
October
2,000
0
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
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 November 2, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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.
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