the rennie review - July 2022

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

published July 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 July 5, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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

a wholesale slowdown in sales is only half the story The top-line numbers for our real estate market in the Vancouver Region belie a divergent undercurrent pitting single-family homes against multi-family ones.

June average of 8,360. The decline, however, was due entirely to the detached segment: new listings for detached homes in June were 16% below the last-decade average, while for townhomes and condos they were actually higher (by 8% and 22%, respectively). One reason, perhaps, that new listings for multi-family homes continue to come to market at an elevated pace is that this segment of the market continues to favour sellers, albeit to an extent that is less than in previous months. To this point, sales-to- listings ratios for townhomes and condos finished June at 32% and 31%, respectively, while the detached market remained balanced for the second consecutive month, dipping to 14% in June. As we move through the typically slower summer months, it remains to be seen whether the more affordable multi-family product segments follow the detached market into balanced territory or whether these two markets continue on their divergent paths into fall. Either way, the summer months likely won’t be a barometer of what’s ahead through the remainder of 2022, as enjoying a holiday or two trumps buying and selling real estate for most of us.

At first glance, the top-line MLS numbers for the month of June in the Vancouver Region appear to be telling a straightforward story; that is, one of declining sales activity, increasing inventory, and moderating market conditions. Notably, these “reversion-to-the- mean” dynamics are occurring concurrently with rapidly rising interest rates and inexorably (to this point, at least) rising and high inflation. Given this economic backdrop, it probably shouldn’t come as much of a surprise that demand for housing has softened in our region—and mostly everywhere—of late. And while we typically aggregate sales and listings for all home types across the region—which more often than not paints a pretty clear picture of what’s happening in our local markets at a given point in time— we’re currently seeing an asymmetric dynamic at play when we break our market down.

when compared with May, were 38% below the robust total from June 2021, and were 26% lower than the past 10-year average. The declines for detached homes were much more pronounced, with sales down 15% from May, 51% from last year, and 49% versus the long-run average. Meanwhile, sales of multi-family homes (condos and townhomes), while still below the totals from May 2022 and June 2021, were much closer to their historical averages (townhomes were down 15% from the past 10-year average and condos were down 5%). When we look at the new listings segment of the market (that is, the number of listings added to inventory in the month), a similar dynamic appears. Overall, the number of new listings coming to market had been elevated above the past 10-year average from February through May of this year. In June, however, 8,266 new listings came to market, which was 1% below the long-run

With that in mind, let’s start at the top. Overall sales counts declined 13% in June

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Disa Lim 604.880.8604

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Andy Mah PREC* 604.779.9382

Derek Kai PREC* 604.868.1666

Daniel Lee 604.910.3931

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 July 5, 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 -JUNE 202

SALES TO LISTINGSRATIO 14% BALANCEDMARKET

▶ MARKETSUMMARY Therewere7,580 detached listingsin theVancouver Region in June,5% aboveM ayand 7% higherthan June 2021. Junedetached hom esalesdecreased by15% m onth-over-m onth,to1,091,and were51% below June 2021. Thesales-to-listing ratio fordetached in the Vancouver Region,at14% ,reflected abalanced m arket.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 10% VS 2021

▲ 13% VS 2021

▲ 7% VS 2021

▼ 51% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

1,091 7,580

2,226 7,107

10% 13% -54% -51% 7%

1,286 7,193

-19% -15% 5%

Thedetachedm edian pricein Junewas$1,650,000,a4% decreasefrom M ayand 13% aboveJune2021.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$1,909,945 $1,650,000 14%

$2,032,071 $1,725,000 18%

$1,743,828 $1,465,000 31%

Theaveragesold pricewas$1,909,945,6% below last m onth and up 10% toJune2021.

-6% -4%

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

7,193

7,580

7,107

1.87

1.86

5,481

5,397

6,295

6,236

1.80

5,531

4,587

4,181

4,694

1.45

1.42

1.40

3,318

2,323

3,120

1,879

1,794

2,226

1,899

1,788

1,756

1,697

1,573

1,091

1,492

1,286

1,151

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

$1.73M $1.65M

$1.60M $1.69M $1.69M

$1.47M $1.45M $1.48M $1.54M

Jun-21

May-22

Jun-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

2000

1500

1000

36%

31%

24%

500

22%

21%

16%

14%

<$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+ 2,008 111 6%

S-L RATIO SALES INVENTORY

111 34 31%

72 17 24%

183 39 21%

367 132 36%

931 202 22%

1,988 326 16%

1,023 146 14%

897 84 9%

Copyright© July5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly5,202 .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-JUNE 202

SALES TO LISTINGSRATIO 32% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere2,434 townhom elistingsin theVancouver Region in June,3% aboveM ayand 27% higherthan June 2021. Junetownhom esalesdecreased by4% m onth-over-m onth,to772,and were35% below June 2021. Thesales-to-listing ratio fortow nhom esin theVancouver Region,at32% ,reflected aselers'm arket. Thetownhom em edian pricein Junewas$915,000,a 1.1% decreasefrom M ayand 17% aboveJune2021. Theaveragesold pricewas$1,000,914,1.2% below last m onth;theaveragePSF salepricewas$681,down 2% to lastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 17% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 17% VS 2021

▲ 27% VS 2021

▼ 35% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

32% 772 2,434

1,193 1,910

17% 17% 17% -49% -35% 27%

34% 801 2,373

-6% -4% 3%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$581 $856,961 $785,000 62%

$681 $1,000,914 $915,000

$695 $1,013,423 $925,000

-2% -1.2% -1.1%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2021 ● JUN 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

2,434

2,373

1,910

2,003

1,674

1,678

1,306

1,253

1,227

1,377

1,076

1,193

973

782

766

1,013

1,001

987

942

925

772

913

896

801

587

574

$990K $1.02M $1.00M

$983K $925K $915K

$847K $880K $900K

$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

1000

134

4+ bdrms

800

563

600

405

3 bdrms

1,332

47%

400

39%

32% 30% 32%

218

25%

2 bdrms

20%

200

15%

497

<$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

28 7 25%

77 36 47%

433 167 39%

916 292 32%

432 130 30%

282 91 32%

188 37 20%

78 12 15%

Copyright© July5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly5,202 .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 -JUNE 202

SALES TO LISTINGSRATIO 31% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 14% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 14% VS 2021

▲ 13% VS 2021

▼ 7% VS 2021

▼ 28% VS 2021

Therewere5,645 condolistingsin theVancouverRegion in June,5% aboveM ayand 7% lowerthan June2021.

Junecondo salesdecreased by16% m onth-over-m onth, to1,736,and were28% below June2021.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

Thesales-to-listing ratio forcondosin the Vancouver Region,at31% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

1,736 5,645

2,401 6,051

14% 14% 13% -22% -28% -7%

2,057 5,368

-20% -16% 5%

Thecondom edian pricein Junewas$650,000,a3% decreasefrom M ayand 13% aboveJune2021. Theaveragesold pricewas$736,276,3% below last m onth;theaveragePSF salepricewas$863,down 3% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$863 $736,276 $650,000 31%

$756 $644,448 $575,000 40%

$889 $759,053 $667,000 38%

-3% -3% -3%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2021 ● JUN 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

6,051

5,628

5,368

5,302

5,645

5,103

4,072

4,076

4,681

4,617

3,620

3,16

2,441

2,363

2,230

2,966

2,057

2,401

2,769

2,382

2,248

2,234

2,192

1,736

2,007

1,731

$685K $680K $667K $650K

$671K $695K

$590K $598K $608K $620K $628K

$575K $583K

VANCOUVERREGION REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

44 4

1500

4+ bdrms

1000

3 bdrms

614

45%

37%

30%

500

27%

943

21%

2 bdrms

16%

3,192

11%

694

<$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

233 71 30%

1,355 610 45%

1,628 601 37%

908 244 27%

459 98 21%

329 53 16%

334 37 11%

399 22 6%

1,795

Copyright© July5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly5,202 .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 -JUNE 202

SALES TO LISTINGSRATIO 15% BALANCEDMARKET

▶ MARKETSUMMARY Therew ere 4,463 detached listingsin the G reater Vancouverboard areain June,5% aboveM ayand 1.3% lowerthan June2021. Junedetached hom esalesdecreased by17% m onth-over-m onth,to659,and were48% below June 2021. Thesales-to-listing ratio fordetached in the G reater Vancouverboard area,at15% ,reflected abalanced market. Thedetachedm edian pricein Junewas$1,800,000,a5% decreasefrom M ayand 10% aboveJune2021.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 7% VS 2021

▲ 10% VS 2021

▼ 1.3% VS 2021

▼ 48% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

15% 659 4,463

1,264 4,523

-47% -48% -1.3%

19% 795 4,236

-21% -17% 5%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$1,970,962 $1,633,500 28%

Theaveragesold pricewas$2,106,911,7% below last m onth and up 7% toJune2021.

$2,267,798 $1,900,000

-7% -5%

$2,106,911 $1,800,000

7% 10%

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

4,523

4,236

4,463

3,656

4,051

1.84

3,254

1.80

3,714

3,688

1.76

2,875

2,799

3,180

1.48

1.45

2,21 2,264

1,299

1,092

1,007

1,264

985

1,044

935

950

957

659

793

795

624

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

$1.90M $1.80M

$1.76M $1.85M $1.85M

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

Jun-21

May-22

Jun-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

1500

1000

35%

500

29%

28%

20%

18%

17%

11%

<$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+ 1,548 91 6%

S-L RATIO SALES INVENTORY

42 12 29%

45 8 18%

79 22 28%

149 52 35%

377 104 28%

1,008 197 20%

623 106 17%

592 67 11%

●

greatervancouverboard area TOWNHOME-JUNE 202

SALES TO LISTINGSRATIO 37% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,108 townhom elistingsin theG reater Vancouverboard areain June,1.7% below M ayand 1.3% lowerthan June2021. Junetownhom esalesdecreased by7% m onth-over-m onth,to410,and were34% below June 2021. Thesales-to-listing ratio fortow nhom esin theG reater Vancouverboard area,at37% ,reflected aselers'm arket. Thetownhom em edian pricein Junewas$1,012,500,a 1.7% decreasefrom M ayand 13% aboveJune2021. Theaveragesold pricewas$1,122,356,0.2% abovelast m onth;theaveragePSF salepricewas$788,down 1.9% tolastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 15% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 16% VS 2021

▲ 13% VS 2021

▼ 1.3% VS 2021

▼ 34% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

37% 410 1,108

55% 623 1,123

-33% -34% -1.3%

39% 441 1,127

-1.9% 0.2% -1.7% -5% -7% -1.7%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$788 $1,122,356 $1,012,500

$804 $1,119,624 $1,029,900

$686 $969,347 $900,000

15% 16% 13%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2021 ● JUN 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,123

1,108

1,127

964

792

921

754

825

597

599

623

667

500

629

387

508

502

503

493

477

410

467

284 446

441

365

$1.10M $1.10M $1.15M $1.10M

$1.03M $1.01M

$995K $969K

$900K $899K

$899K $960K $945K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

250

4+ bdrms

220

200

220

61%

150

3 bdrms

54%

618

45%

42%

100

34%

118

2 bdrms

20%

18%

15%

233

<$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

11 2 18%

23 14 61%

121 65 54%

264 119 45%

212 88 42%

226 76 34%

173 34 20%

78 12 15%

Copyright© July5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly5,202 .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 -JUNE 202

SALES TO LISTINGSRATIO 31% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 10% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 11% VS 2021

▲ 10% VS 2021

▼ 9% VS 2021

▼ 26% VS 2021

Therewere4,331 condolistingsin theG reater Vancouverboard areain June,5% aboveM ayand 9% lowerthan June2021. Junecondo salesdecreased by17% m onth-over-m onth, to1,327,and were26% below June2021.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

Thesales-to-listing ratio forcondosin the G reater Vancouverboard area,at31% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

1,327 4,331

1,785 4,780

10% 11% 10% -18% -26% -9%

1,606 4,137

-21% -17% 5%

Thecondom edian pricein Junewas$698,000,a3% decreasefrom M ayand 10% aboveJune2021. Theaveragesold pricewas$784,997,4% below last m onth;theaveragePSF salepricewas$915,down 4% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$915 $784,997 $698,000 31%

$834 $705,047 $635,000 37%

$950 $814,132 $716,950 39%

-4% -4% -3%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2021 ● JUN 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

4,780

4,397

4,137

4,331

4,465

4,166

3,412

3,838

3,227

3,684

2,313

2,856

2,546

1,863

1,808 1,827

2,396

1,606

1,785

1,694

1,678 1,632 1,630

1,327

1,464

1,315

$735K $740K $735K $717K $698K

$680K $725K

$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

43 4

4+ bdrms

1000

800

3 bdrms

54%

523

600

41%

35%

400

27%

700

21%

2 bdrms

16%

2,381

200

10%

546

<$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

114 40 35%

677 363 54%

1,221 502 41%

848 226 27%

431 92 21%

316 49 16%

328 33 10%

396 22 6%

1,384

Copyright© July5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly5,202 .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 -JUNE 202

SALES TO LISTINGSRATIO 14% BALANCEDMARKET

▶ MARKETSUMMARY Therew ere 3,117 detached listingsin the FraserValey board areain June,5% aboveM ayand 21% higherthan June2021. Junedetached hom esalesdecreased by12% m onth-over-m onth,to428,and were55% below June 2021. Thesales-to-listing ratio fordetached in the FraserValey board area,at14% ,reflected abalanced m arket.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 12% VS 2021

▲ 14% VS 2021

▲ 21% VS 2021

▼ 55% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

14% 428 3,117

37% 958 2,584

12% 14% -63% -55% 21%

16% 487 2,957

-17% -12% 5%

Thedetachedm edian pricein Junewas$1,475,000,a4% decreasefrom M ayand 14% aboveJune2021.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

Theaveragesold pricewas$1,613,915,2% below last m onth and up 12% toJune2021.

$1,648,698 $1,530,000

-2% -4%

$1,613,915 $1,475,000

$1,446,062 $1,291,250

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

2,957

3,17

2,584

1.78

1.76

2,227

2,581

1.73

1.61

1.59

1.58

2,185

1,788

1,741

1,843

1,306

1,514

1,021

909

840

806

958

1,054

850

777

744

696

610

428

523

487

$1.70M $1.61M $1.75M $1.78M

$1.56M $1.58M

$1.53M $1.48M

$1.36M $1.41M $1.45M

$1.29M $1.31M

Jun-21

May-22

Jun-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

1000

800

600

400

37%

30%

18%

200

15%

13%

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

69 21 30%

27 8 30%

104 16 15%

218 80 37%

554 98 18%

980 129 13%

400 40 10%

305 16 5%

460 20 4%

●

fraservaley board area TOWNHOME-JUNE 202

SALES TO LISTINGSRATIO 27% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,326 townhom elistingsin theFraserValey board areain June,6% aboveM ayand 68% higherthan June2021. Junetownhom esalesincreased by0.6% m onth-over-m onth,to362,and were36% below June 2021. Thesales-to-listing ratio fortow nhom esin theFraser Valey board area,at27% ,reflected aselers'm arket. Thetownhom em edian pricein Junewas$855,000,a 1.7% decreasefrom M ayand 18% aboveJune2021. Theaveragesold pricewas$863,370,2% below last m onth;theaveragePSF salepricewas$559,down 0.5% tolastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 20% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 18% VS 2021

▲ 68% VS 2021

▼ 36% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 72% 567 787

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

27% 362 1,326

20% 18% 18% -62% -36% 68%

29% 360 1,246

-0.5% -2% -1.7% -6% 0.6% 6%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$559 $863,370 $855,000

$562 $883,327 $870,000

$466 $733,695 $725,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2021 ● JUN 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,246

1,326

924

1,082

710

787

628

624

552

514

508

567

438

416

512

320

479

447

446

362

409

392

376

360

290

200

$930K $970K $950K

$914K $870K $855K

$824K $870K

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

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

700

600

4+ bdrms

343

500

185

400

3 bdrms

714

300

41%

33%

29%

200

27%

100

2 bdrms

20%

19%

264

100

5 3

<$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

17 5 29%

54 22 41%

312 102 33%

652 173 27%

220 42 19%

56 15 27%

15 3 20%

Copyright© July5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly5,202 .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 -JUNE 202

SALES TO LISTINGSRATIO 31% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,314 condolistingsin theFraserValey board areain June,7% aboveM ayand 3% higherthan June2021. Junecondo salesdecreased by9% m onth-over-m onth,to 409,and were33% below June2021.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 31% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 23% VS 2021

▲ 20% VS 2021

▲ 3% VS 2021

▼ 33% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

Thesales-to-listing ratio forcondosin the FraserValey board area,at31% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

31% 409 1,314

48% 614 1,271

31% 23% 20% -36% -33% 3%

37% 451 1,231

4% 3% -1.5% -15% -9% 7%

Thecondom edian pricein Junewas$540,000,a1.5% decreasefrom M ayand 20% aboveJune2021. Theaveragesold pricewas$578,202,3% abovelast m onth;theaveragePSF salepricewas$696,up 4% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$696 $578,202 $540,000

$670 $562,917 $548,000

$529 $469,556 $450,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2021 ● JUN 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,231

1,314

1,271

1,163

905

849

997

937

764

660

801

779

598

542

614

562

555

550

517

409

451

415

420

373

$572K $570K $566K $548K $540K

$529K $564K

$481K $510K

$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

700

600

4+ bdrms

500

67%

400

3 bdrms

300

36%

31%

30%

200

243

26%

24%

21%

2 bdrms

811

100

148

<$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

119 31 26%

678 247 36%

407 99 24%

60 18 30%

28 6 21%

13 4 31%

6 4 67%

3 0 n/a

411

Copyright© July5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly5,202 .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 -JUNE 202

SALES TO LISTINGSRATIO 17% BALANCEDMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 13% VS 2021

▲ 6% VS 2021

▼ 15% VS 2021

▼ 58% VS 2021

Therewere131 detachedlistingsin BurnabyN orth in June,11% aboveM ayand 15% lowerthan June2021. Junedetached hom esalesdecreased by27% m onth-over-m onth,to22,and were58% below June 2021. Thesales-to-listing ratio fordetached in Burnaby N orth, at17% ,reflected abalanced m arket.

THISMONTH No. $2,271,718 $2,044,500 17% 22 131

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

$2,009,478 $1,920,000 34% 53 154

13% 6% -51% -58% -15%

$2,286,750 $2,199,000 25% 30 118

-0.7% -7% -34% -27% 11%

Thedetachedm edian pricein Junewas$2,044,500,a7% decreasefrom M ayand 6% aboveJune2021.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

Theaveragesold pricewas$2,271,718,0.7% below last m onth and up 13% toJune2021.

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

154

131

2.48

2.38

121

100

2.25

105

1.40

1.32

1.26

$2.30M $2.17M $2.12M

$2.13M $2.20M $2.04M

$1.92M $1.81M

$1.93M $1.99M

$1.70M $1.68M $1.82M

Jun-21

May-22

Jun-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

28%

27%

11%

<$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

7 0 n/a

40 11 28%

35 2 6%

22 6 27%

27 3 11%

●

burnabynorth TOWNHOME-JUNE 202

SALES TO LISTINGSRATIO 49% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 7% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 12% VS 2021

▲ 11% VS 2021

▼ 39% VS 2021

▼ 50% VS 2021

Therewere35 townhom elistingsin BurnabyN orth in June,21% aboveM ayand 39% lowerthan June2021. Junetownhom esalesincreased by13% m onth-over-m onth,to17,and were50% below June 2021. Thesales-to-listing ratio fortow nhom esin Burnaby N orth,at49% ,reflected aselers'm arket. Thetownhom em edian pricein Junewas$860,000,a 12% decreasefrom M ayand 11% aboveJune2021. Theaveragesold pricewas$873,847,11% below last m onth;theaveragePSF salepricewas$657,down 6% to lastm onth.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

17 35

34 57

7% 12% 11% -19% -50% -39%

15 29

-6% -11% -12% -6% 13% 21%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$657 $873,847 $860,000 49%

$616 $780,601 $775,000 60%

$698 $978,733 $978,000 52%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2021 ● JUN 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

38 37

$950K $989K $978K

$919K

$896K

$857K $883K $905K

$860K

$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%

100%+

4+ bdrms

67%

3 bdrms

36%

2 bdrms

1 1

<$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

1 1 100%

9 6 67%

11 4 36%

5 6 120%

5 0 n/a

4 0 n/a

Copyright© July5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly5,202 .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 -JUNE 202

SALES TO LISTINGSRATIO 32% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 13% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 7% VS 2021

▲ 5% VS 2021

▲ 3% VS 2021

▼ 15% VS 2021

Therewere300 condolistingsin BurnabyN orth in June, 3% below M ayand 3% higherthan June2021.

Junecondo salesdecreased by23% m onth-over-m onth, to96,and were15% below June2021.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 39% 113 290

% Change

No. 40% 124 309

% Change

Thesales-to-listing ratio forcondosin Burnaby N orth,at 32% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

$861 $678,294 $649,500 32% 96 300

13% 7% 5% -18% -15% 3%

-20% -23% -3%

Thecondom edian pricein Junewas$649,500,a7% decreasefrom M ayand 5% aboveJune2021. Theaveragesold pricewas$678,294,9% below last m onth;theaveragePSF salepricewas$861,down 4% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$900 $747,690 $699,450

-4% -9% -7%

$759 $635,395 $617,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2021 ● JUN 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

286

300

290

309

304 302

297

208

200

230

176

167

180

132

127

124

160

145

104

101

$778K $750K $729K

$693K $700K

$699K $650K

$665K $650K $644K

$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

100%+

4+ bdrms

100

67%

3 bdrms

32%

26%

2 bdrms

187

8% 8%

<$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

1 2 200%

55 37 67%

118 38 32%

61 16 26%

34 1 3%

13 1 8%

5 0 n/a

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