the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION
published January 2021
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
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 DATA ANALYST bbehan@rennie.com
Coquitlam
Langley
North Vancouver
Richmond Squamish
Surrey
Vancouver East Vancouver West West Vancouver
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 January 6, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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. 2
2020’s unexpected path leaves 2021 poised for growth After a year like no other–punctuated by a spring slump followed by a record number of sales through the end of 2020–the housing market in the Vancouver Region is positioned for a dynamic 2021.
Despite the within-year turbulence, our market also looked surprisingly “normal” in hindsight when considering the mix and spatial distribution of homes sold. For example, despite buyers leaning in to the detached home and townhome markets in 2020–raising the share of total sales that were in this “ground oriented” category to 62% from 58% in 2019–the share of non-condo sales this past year was virtually the same (62%) as the past-decade average (63%). Additionally, 38% of all MLS sales in the Vancouver region in 2020 were in South of the Fraser communities, which was not significantly different from the 34% average share over the past decade. With the recovery in employment having stalled (somewhat expectedly) in December, job growth is not likely to be the primary fuel for the region’s housing market in 2021. Other elements–including unpent demand from the first half of 2020, continued low interest rates, increased immigration, and elevated levels of household savings–have the market poised for what should be an active 2021.
7 months despite the ongoing pandemic, its associated social restrictions, and the negative impact this had on employment and immigration. When all was said and done, the region counted 49,859 sales in the full year 2020–25% more than in 2019 and 4% higher than the previous 10-year average. Put slightly differently, our market gave the appearance of being fairly average overall in 2020. Much of this hinged on a fall market that looked more like a typically-active spring market, with all-time highs–and near-all- time highs–in sales counts being achieved in each of September, October, November, and December. The year ended with an exclamation mark, with the 5,072 MLS sales across the Vancouver Region last month being the most in any December in the region’s history (by a whopping 16%).
A surfeit of hyperbole, accompanied by too many adjectives to count (most of them negative), have been used to describe the year that was 2020; as such, we’ll refrain from adding to the pile in this space. Instead, we’ll share a few observations from a housing market here in the Vancouver Region that unexpectedly twisted and turned as it progressed through the past 12 months, looked pretty “average” overall in hindsight, and is now primed for a dynamic 2021. In the immediate aftermath of the onset of the pandemic, MLS sales in the Vancouver Region plummeted by 54% between March and April–a time of year when sales counts are normally on the rise–which in turn yielded grim prospects for the regional housing market through the balance of 2020. Somewhat surprisingly, sales counts began to bounce back the following month, and remained robust through the subsequent
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 January 6, 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. 3
featured listings SEARCH FOR THE HOME YOU LOVE AT RENNIE.COM
West Pender Place $1,999,900 | COAL HARBOUR 1901-1499 W Pender Street 2 Bed, 1,287 SF Danny Chow PREC* 604.765.2469
The Village $1,689,000 | FALSE CREEK 704-77 Walter Hardwick Avenue 2 Bed, 1,292 SF Brandan Price PREC* 604.765.9555
1/2 Duplex $1,388,000 | MT. PLEASANT 736 E 14th Avenue 4 Bed, 1,569 SF Linda Kang 604.787.5923
1/2 Duplex
House
House
$1,329,000 | VAN EAST
$1,288,000 | SURREY
$1,199,900 | PORT COQUITLAM
2940 Horley Street 3 Bed, 1,538 SF Calvin Kan PREC* 604.616.8373
14993 82a Avenue 4 Bed, 2,707 SF
1954 Grant Avenue 6 Bed, 2,617 SF Danny Chow PREC* 604.765.2469
Harp Sohal 604.781.1307
The Laureates $1,080,000 | UBC 310-5638 Birney Avenue 2 Bed, 879 SF
Townhome
The Carleton
$899,900 | COQUITLAM 20-70 Seaview Drive 3 Bed, 1,304 SF Natalie Genest PREC* 604.928.7330
$799,900 | BURNABY 203-4223 Hastings Street 2 Bed, 998 SF
Tony Liang PREC* 604.781.9988
Disa Lim 604.880.8604
The Amazing Brentwood
Parker House
The Phoenix
$675,000 | COQUITLAM 111-1151 Windsor Mews 2 Bed, 1,156 SF
$749,000 | BURNABY 3601-1955 Alpha Way 2 Bed, 731 SF
$650,000 | VAN EAST
605-3061 E Kent Avenue North 2 Bed, 1,130 SF Lorenzo Daminato PREC* 604.657.8121
Hanson Lu PREC* 604.787.2578
Brandon Blue PREC* 604.999.7792
Creston
Yaletown Park
Belvedere Residence $549,900 | BURNABY 1105-6823 Station Hill Drive 2 Bed, 750 SF
$629,900 | NORTH VAN G08-715 W 15th Street 1 Bed, 652 SF
$609,900 | YALETOWN 1002-928 Homer Street 1 Bed, 496 SF
Sara Beikoghli 778.680.8685
Salina Kai PREC* 604.773.7013
Jane Chu PREC* 778.886.3303
The Gables $521,000 | RICHMOND 204-7200 Gilbert Road 2 Bed, 1,072 SF
Interurban $499,900 | NEW WEST 1507-14 Begbie Street 1 Bed, 661 SF Reggie Tanzola PREC* 778.917.6889
Grand Central 3 $488,000 | COQUITLAM 2905-2975 Atlantic Avenue 1 Bed, 550 SF Artyom Seroff PREC* 778.223.0033
Vivien Ma PREC* 604.828.2268
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 January 6, 2021. 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 - DECEMBER 2020 vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 12 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
30 % DOWN
9 % UP
-
80 % UP
SELLER’S 47 %
The number of detached listings in the Vancouver Region in December, at 4,328, was 35% lower month-over-month and 30% lower year-over-year. The 2,014 detached sales in December were 5% lower last month but 80% higher vs last year. The sales-to-listings ratio increased to 47%, as the Vancouver Region’s detached market remained in seller’s market territory. The benchmark price in December was $1.35M, 1.3% above November and 12% higher vs December 2019. The average sold price was $1.53M, 1.7% above the previous month and 9% higher vs December 2019.
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
4,328 2,014
6,675 2,127
-35% -5% 46%
6,181 1,122
-30% 80% 156%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
47%
32%
18%
$1,349,100 $1,331,700 1.3% $1,208,500 $1,526,747 $1,501,767 1.7% $1,396,760
12%
9%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
(MILLIONS)
$1.35
$1.32
$1.29
$1.26
$1.25
$1.23
$1.21
1.90
1.89
1.81
8,334
7,842
7,804
7,000
1.09
1.08
7,018
1.06
6,181
4,328
2,428
2,081
2,014
1,600
1,262
1,122
688
Dec-19
Nov-20
Dec-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 January 6, 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.
5
TOWNHOME - DECEMBER 2020 vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 6 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
25 % DOWN
5 % UP
5 % UP
74 % UP
SELLER’S 68 %
The number of townhome listings in the Vancouver Region decreased 38% from last month, settling at 1,486, and were 25% below December 2019. Townhome sales, at 1,005, were 6% lower vs last month but 74% above December 2019. The sales-to-listings ratio increased to 68% in December, as the Vancouver Region’s townhome segment remained in a seller’s market. The benchmark price in December was 0.5% above November, at $708,800, and was 6% higher year-over-year. The average sold price was $742,416 in December, (increasing 0.2% vs November) while the average PSF sales price was $498 (increasing 0.5%).
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,486 1,005
2,386 1,067
-38% -6% 51%
1,978
-25% 74% 132%
TOTAL SALES
577 29%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
68%
45%
$708,800 $705,500 $742,416 $740,961
0.5% $669,500 0.2% $709,733
6% 5% 5%
$498
$496
0.5%
$475
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$708,800
$669,500 $676,500 $684,500 $688,400 $697,800 $703,800
3,031
2,833
2,793
2,366
2,297
1,978
1,486
1,288
1,055
863
676
577
393
1,005
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
210
4+ bdrms
BUYER'S MARKET
294
548
3 bdrms
783
247
<3 bdrms
. . . . 0 0 0 0
411
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 January 6, 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.
6
CONDO - DECEMBER 2020 vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO 36 %
MARKET SUMMARY ›
0.2 % UP
1.4 % UP
24 % UP
42 % UP
There were 5,329 condo listings in the Vancouver Region in December, 31% below November but 24% higher vs December 2019. December condo sales increased by 8% month-over- month and were 42% above December 2019. The sales-to-listings ratio for condos in the Vancouver Region increased to 36%, remaining a seller’s market. The condo benchmark price in December was $651,900, increasing 0.1% from November and 3% higher vs December 2019. The average sold price was $607,488, 1.4% above last month; the average PSF sales price was $710, up 1.6% from last month.
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
5,329 1,936
7,719 1,799
-31%
4,304 1,359
24% 42% 15% 0.2% 1.4% 3%
TOTAL SALES
8%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
36%
23%
56%
32%
$651,900 $651,000 $607,488 $599,099
0.1% $632,500 1.4% $606,522
$710
$699
1.6%
$701
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$632,500 $651,000 $660,500 $654,000 $658,200 $655,400 $651,900
8,324
8,503
7,017
5,329
5,824
5,214
4,304
2,071
1,936
1,756
1,512
1,374
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
106
3+ bdrms
BUYER'S MARKET
633
1,075
2 bdrms
3,123
755
<2 bdrms
. . . . 0 0 0 0
1,588
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 January 6, 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.
7
DETACHED - DECEMBER 2020 greater vancouver board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 10 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
28 % DOWN
6 % UP
-
72 % UP
SELLER’S 37 %
Detached listings in the REBGV decreased to 2,790 in December, 33% below November and 28% lower vs December 2019. Detached sales, at 1,036, decreased 3% compared to November but were 72% higher vs December 2019. The sales-to-listings ratio increased to 37%, as the REBGV detached market remained in seller’s market territory. The detached benchmark price in December was $1.55M, up 1.0% month-over-month and a 10% increase year-over-year. The average sold price was $1.77M, up 1.5% from the previous month and 6% higher year-over-year.
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
2,790 1,036
4,162 1,072
-33% -3% 44%
3,856
-28% 72% 137%
TOTAL SALES
603 16%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
37%
26%
$1,554,600 $1,538,900 1.0% $1,411,200 $1,771,651 $1,746,229 1.5% $1,670,752
10%
6%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
(MILLIONS)
$1.55
$1.52
$1.49
$1.46
$1.45
$1.43
$1.41
1.91
1.89
1.82
4,983
4,714
4,652
1.20
1.20
1.18
4,309
4,230
3,856
2,790
1,350
1,107
1,036
869
682
603
392
Dec-19
Nov-20
Dec-20
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES
TOTAL INVENTORY
S-L RATIO
. . . 0 0 0 0 0 S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET
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 January 6, 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.
8
greater vancouver board area
TOWNHOME - DECEMBER 2020
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 5 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
24 % DOWN
3 % UP
4 % UP
73 % UP
SELLER’S 58 %
The number of townhome listings in the REBGV decreased to 864 in December, 35% below November and 24% lower year-over-year. Townhome sales in December, at 504, were down 6% vs November but 73% above last year. The sales-to-listings ratio increased to 58% as the REBGV townhome market remained a seller’s market. The townhome benchmark price in December was $813,900, 0.1% below November but 5% higher than in December 2019. The average sold price was $868,538, with an average PSF sales price of $601 (up 1.1% and 0.3%, respectively, vs November).
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
864 504 58%
1,334
-35% -6% 45%
1,134
-24% 73% 127%
TOTAL SALES
535 40%
292 26%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$813,900 $814,800 $868,538 $859,503
-0.1% $776,200 1.1% $847,211
5% 3% 4%
$601
$599
0.3%
$577
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$776,200 $783,400 $791,200 $790,800 $806,400 $813,000 $813,900
1,706
1,577
1,530
1,348
1,314
1,134
864
678
540
504
412
339
292
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
89
4+ bdrms
BUYER'S MARKET
140
283
3 bdrms
450
132
<3 bdrms
. . . . 0 0 0 0
276
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 January 6, 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.
9
greater vancouver board area
CONDO - DECEMBER 2020
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
0.6 % DOWN
0.8 % UP
26 % UP
41 % UP
SELLER’S 36 %
The number of condo listings in the REBGV decreased to 4,159 in December, 31% below November but 26% higher vs December 2019. At 1,479, condo sales were 8% higher month-over- month and 41% higher year-over-year. The sales-to-listings ratio rose to 36%, as the REBGV condo market remained favourable to sellers. The condo benchmark price in December was $676,500, unchanged from November and up 3% compared to December 2019. The average sold price was $664,792 (increasing 1.2% from November) with an average PSF sales price of $780 (0.9% higher vs November).
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
4,159 1,479
6,046 1,370
-31%
3,299 1,047
26% 41% 12%
TOTAL SALES
8%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
36%
23%
57%
32%
$676,500 $676,500 $664,792 $656,802
0.0% $659,500 1.2% $668,696
3%
-0.6% 0.8%
$780
$773
0.9%
$774
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$659,500 $680,300 $688,800 $680,800 $685,800 $683,500 $676,500
6,645
6,405
5,331
4,159
4,363
3,954
3,299
1,570
1,479
1,335
1,105
1,061
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
86
3+ bdrms
BUYER'S MARKET
525
780
2 bdrms
2,322
613
<2 bdrms
. . . . 0 0 0 0
1,327
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 January 6, 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.
10
DETACHED - DECEMBER 2020 fraser valley board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 13 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
34 % DOWN
18 % UP
-
88 % UP
64 %
The number of December detached listings in the Fraser Valley board area was 39% lower vs November (at 1,538) and 34% below December 2019. Detached sales decreased 7% from November, to 978, but were up 88% vs December 2019. The sales-to-listings ratio increased to 64%, as the board area’s condo market remained in seller’s market territory. The benchmark price in December was $1.08M, up 1.7% vs November and 13% higher year-over-year. The average sold price in December was $1.27M, 1.1% higher month-over-month and 18% higher year-over-year.
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,538
2,513 1,055
-39% -7% 51%
2,325
-34% 88% 185%
TOTAL SALES
978 64%
519 22%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
42%
$1,079,500 $1,061,500 1.7% $952,600 $1,267,319 $1,253,365 1.1% $1,078,423
13% 18%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$1,079,500
$1,019,600 $1,046,900
$952,600 $970,200 $992,300 $994,500
1.87
1.86
1.77
1.31
1.31
1.29
3,351
3,090
3,190
2,770
2,709
2,325
1,538
1,078
974
731
580
519
296
978
Dec-19
Nov-20
Dec-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 January 6, 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.
11
TOWNHOME - DECEMBER 2020 fraser valley board area
AVERAGE PRICE
AVERAGE PSF PRICE 7 % UP
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
26 % DOWN
8 % UP
7 % UP
76 % UP
SELLER’S 81 %
The number of townhome listings in the Fraser Valley board area decreased to 622 in December, 41% below last month and 26% lower than last year. At 501, townhome sales were down 6% vs November but 76% above last year. The sales-to-listings ratio, at 81%, remained favour- able market for sellers. The benchmark price in December was $576,200, up 1.1% from last month and 7% higher vs last year. The average sold price, at $615,539, was 1.0% lower between November and December while the average PSF sales price was 0.8% higher (at $395).
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No. 844 285 34%
% Change
TOTAL LISTINGS
622 501 81%
1,052
-41% -6% 59%
-26% 76% 139%
TOTAL SALES
532 51%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$576,200 $570,100 $615,539 $621,750
1.1% $538,900 -1.0% $568,878
7% 8% 7%
$395
$392
0.8%
$370
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$576,200
$538,900 $545,300 $552,800 $559,600 $563,900 $569,200
1,325
1,256
1,263
1,018
983
844
622
610
515
451
337
285
501
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
121
4+ bdrms
BUYER'S MARKET
154
265
3 bdrms
333
115
<3 bdrms
. . . . 0 0 0 0 QD QD QD
135
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 January 6, 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.
12
fraser valley board area
CONDO - DECEMBER 2020
AVERAGE PRICE
AVERAGE PSF PRICE 7 % UP
BENCHMARK PRICE 5 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
6 % UP
16 % UP
46 % UP
SELLER’S 39 %
There were 1,170 condo listings in the Fraser Valley board area in December, 30% below last month but 16% higher vs December of last year. At 457, condo sales were 7% higher month-over- month and 46% above December 2019. Increasing to 39%, the board area’s condo sales-to- listings ratio reflected seller’s market conditions. The condo benchmark price in December was $438,300, 0.6% above November and 5% higher vs December 2019. The average sold price was $422,033 (1.7% above November), while the average PSF sales price was $485 (5% above November).
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,170
1,673
-30%
1,005
16% 46% 26%
TOTAL SALES
457 39%
429 26%
7%
312 31%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
52%
$438,300 $435,900 $422,033 $414,825
0.6% $418,600 1.7% $397,882
5% 6% 7%
$485
$464
5%
$455
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$418,600 $428,400 $438,000 $435,300 $437,300 $434,600 $438,300
1,919
1,858
1,686
1,461
1,170
1,260
1,005
501
457
421
407
313
312
150
FVREB
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
20
3+ bdrms
BUYER'S MARKET
108
295
2 bdrms
801
142
<2 bdrms
. . . . 0 0 0 0 QD
261
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 January 6, 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.
13
DETACHED - DECEMBER 2020 burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 11 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
19 % DOWN
0.6 % UP
-
96 % UP
58 %
The number of detached listings in Burnaby North in December, at 78, was 43% lower month-over- month and 19% lower year-over-year. With 45 in December, detached sales were 2% above last month and 96% above last year. The sales-to-listings ratio increased to 58%, as Burnaby North’s detached market remained favour- able to sellers. The benchmark price in December was $1.54M, 0.8% above November and 11% above December 2019. The average sold price was $1.63M, down 3% from the previous month but 0.6% above December 2019.
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 137
% Change
No.
% Change
TOTAL LISTINGS
78 45
-43%
96 23
-19% 96% 141%
TOTAL SALES
44
2%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
58%
32%
80%
24%
$1,536,300 $1,523,400 0.8% $1,389,500
11%
$1,633,930 $1,684,618
-3% $1,623,870 0.6%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
(MILLIONS)
$1.54
$1.50
$1.49
$1.48
$1.47
2.05
2.05
$1.42
$1.39
1.92
1.22
1.22
1.21
151
144
120
111
105
96
78
58
45
31
23
23
14
45
Dec-19
Nov-20
Dec-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 January 6, 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.
14
TOWNHOME - DECEMBER 2020 burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE 5 % UP
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
5 % UP
26 % DOWN
53 % UP
SELLER’S 84 %
The number of townhome listings in Burnaby North decreased 46% from last month, settling at 31, and were 26% below December 2019. Townhome sales, at 26, were 18% above last month and 53% above December 2019. The sales-to-listings ratio increased to 84% in December, as Burnaby North’s townhome segment remained in a seller’s market. The benchmark price in December was up 1.1% month-over-month, to $751,000, and was 4% above December 2019. The average sold price was $746,915 in December, (5% below November) while the average PSF sales price was $551 (decreasing 1.6%).
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
31 26
57 22
-46% 18% 117%
42 17
-26% 53% 107%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
84%
39%
40%
$751,000 $742,900 $746,915 $782,359
1.1% $725,000 -5% $711,706 -1.6% $523
4% 5% 5%
$551
$560
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$725,000 $727,900 $727,900 $734,600 $732,500 $746,400 $751,000
59
59
58
56
48
42
31
27
22
17
13
12
26
4
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
3
4+ bdrms
BUYER'S MARKET
11
3 bdrms
15
12
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD QD
16
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 January 6, 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.
15
CONDO - DECEMBER 2020 burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
2 % UP
0.3 % UP
111 % UP
46 % UP
SELLER’S 29 %
There were 314 condo listings in Burnaby North in December, 22% below November but 111% higher vs December 2019. December condo sales increased by 7% month-over- month, to 92, and were 46% above December 2019. The sales-to-listings ratio for condos in Burnaby North, at 29%, remained favourable to sellers. The condo benchmark price in December was $617,700, a 1.1% increase from November and 3% above December 2019. The average sold price was $625,641, 4% above last month; the average PSF sales price was $730, up 3% from last month.
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 401
% Change
No. 149
% Change
TOTAL LISTINGS
314
-22%
111% 46% -31%
TOTAL SALES
92
86
7%
63
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
29%
21%
37%
42%
$617,700 $611,100 $625,641 $603,063
1.1% $598,200 4% $610,631
3% 2%
$730
$710
3%
$728
0.3%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$598,200 $613,000 $618,600 $605,500 $614,400 $614,800 $617,700
434
425
314
305
276
207
149
103
96
92
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
7
3+ bdrms
BUYER'S MARKET
22
50
2 bdrms
207
35
<2 bdrms
. . . . 0 0 0 0 QD QD
85
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 January 6, 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.
16
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