the rennie review | September 2023

the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 16 SUB-MARKETS IN THE VANCOUVER REGION

published September 2023

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 the Vancouver Region. This report examines the market stats by sub-market, provides updates on current rennie projects, and more.

NEIGHBOURHOOD PROFILES

05 08 11 14 17 20 23 26 29 32 35 38 41 44 47 50 51 54 56

Vancouver Region

Greater Vancouver Board Area Fraser Valley Board Area

Burnaby North Burnaby South

Coquitlam

Langley

North Delta

Ryan Berlin SENIOR ECONOMIST VICE PRESIDENT, INTELLIGENCE rberlin@rennie.com

Ryan Wyse LEAD ANALYST & MARKET INTELLIGENCE MANAGER rwyse@rennie.com

New Westminster North Vancouver

Port Moody Richmond Squamish

Surrey

Vancouver East

Vancouver Downtown

Vancouver West West Vancouver

Whistler

59 AREA MAPS

62 CURRENT PROJECTS

Copyright © 2023 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 5, 2023. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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

when not-so-good news might be good news Both our housing market and our labour market are showing signs of being impacted by the virtually unprecedented upward march of interest rates that began at the beginning of 2022. These changes will bring some challenges, but they may also usher in a period of moderating borrowing costs.

health of the job market are showing some weakness: employment growth is slowing, the unemployment rate is rising (from an all-time low), the number of job vacancies continues to shrink, and the job-change rate—historically high during the so-called “Great Resignation” of late- 2021/early-2022—has fallen to half of its longer-term average. While on the surface this doesn’t obviously present as good news, the knock-on effect of these labour market changes could be a positive one: to the extent that they are reflective of our higher interest rate environment, they will tend to be disinflationary—and to the extent that they weigh on inflation, then they move us closer to the time when the Bank of Canada can begin bringing borrowing costs back towards recent (pre-pandemic) historical norms. Whether you’re already a homeowner with a mortgage or you’re contemplating purchasing your first home, this is—unambiguously—good news.

In last month’s rennie review, we ran out of room to discuss important changes that have been occurring within Canada’s job market—changes that both reflect the monetary policy environment of the past 18 months and have implications for it going forward. But first, a quick update on how the housing market fared in August here in the Vancouver Region. Fewer sales and steady supply means lower prices. There were 3,502 MLS sales in the region in August, marking the 3rd straight month of slowing sales and representing only 85% of the typical transaction count for the month. At the same time—and indeed, partly as a consequence of slower sales—total inventory was steady between July and August at between 14,735 and 14,770 listings, with the 0.2% month- over-month decline paling in comparison to the more typical 3% drop during these summer months.

Notably, this lessening tension between supply and demand in Vancouver’s resale market yielded price declines in August for the first time in 2023: compared to July, benchmark condo prices fell 0.3% and those for townhomes dipped 0.2% (detached home values were unchanged). To be sure, these are not gargantuan price shifts, but both their recent change in direction (again, against the backdrop of 6 straight months of increases) and the softening of the job market point to the likelihood of softer market conditions in the coming months. Canada’s labour market is labouring. Over the past 4 months, almost all signs point to the labour market responding as one would expect to what has been an unprecedented tightening of monetary policy by the Bank of Canada. With the exception of annual wage gains remaining north of 5%, all other barometers of the

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822 - 68 Smithe Street 2 Bed, 866 SF Athina Kunschner 604.388.4855

Randy Rinaldo PREC* 604.781.4995

Copyright © 2023 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 5, 2023. 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 -AUGUST 2023

SALES TO LISTINGSRATIO 15% BALANCEDMARKET

▶ MARKETSUMMARY Therewere7,115 detached listingsin theVancouver Region in August,2% aboveJulyand 1.7% higherthan August2022. Augustdetached hom esalesdecreased by8% m onth-over-m onth,to 1,046,and were18% above August2022. Thesales-to-listing ratio fordetached in the Vancouver Region,at15% ,reflected abalanced m arket.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 12% VS 2022

▲ 9% VS 2022

▲ 1.7% VS 2022

▲ 18% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

1,046 7,115

13% 887 6,997

12% 9% 16% 18% 1.7%

1,131 6,975

-9% -8% 2%

Thedetachedm edian pricein Augustwas$1,664,833,a 0.9% increasefrom Julyand 9% aboveAugust2022.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$1,987,830 $1,664,833 15%

$1,939,314 $1,650,000 16%

Theaveragesold pricewas$1,987,830,3% abovelast m onth and up 12% toAugust2022.

3% 0.9%

$1,778,840 $1,525,000

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

6,758

7,15

6,997

6,495

6,12

6,975

6,847

5,942

1.85

1.79

4,816

5,226

5,016

4,786

4,553

1.41

1.37

1.36

1,697

1,616

1,323

905

803

629

1,046

514

1,396

887

1,131

857

836

$1.65M $1.71M $1.67M $1.65M $1.66M

$1.53M $1.52M $1.54M $1.50M $1.50M $1.45M $1.55M $1.56M

22-Aug

23-Jul 23-Aug

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

2000

1500

1000

36%

28%

500

23%

22%

21%

16%

<$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+ 1,885 124 7%

S-L RATIO SALES INVENTORY

127 46 36%

78 18 23%

240 52 22%

412 115 28%

864 179 21%

1,770 292 16%

947 149 16%

792 71 9%

Copyright© Septem ber5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber5,2023.Aldatafrom RealEstate BoardofGreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycan otbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.The recipientoftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.

●

vancouverregion TOWNHOME-AUGUST 2023

SALES TO LISTINGSRATIO 36% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,884 townhom elistingsin theVancouver Region in August,nochangetoJulyand 16% lowerthan August2022. Augusttownhom esalesdecreased by13% m onth-over-m onth,to671,and were17% aboveAugust 2022. Thesales-to-listing ratio fortow nhom esin theVancouver Region,at36% ,reflected aselers'm arket. Thetownhom em edian pricein Augustwas$900,000,a 2% decreasefrom Julyand 6% aboveAugust2022. Theaveragesold pricewas$985,796,1.4% below last m onth;theaveragePSF salepricewas$670,up 0.3% to lastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 7% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 7% VS 2022

▲ 6% VS 2022

▼ 16% VS 2022

▲ 17% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

36% 671 1,884

25% 573 2,252

40% 17% -16%

41% 767 1,884

0.3% -1.4% -2% -13% -13% 0%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$670 $985,796 $900,000

$668 $999,469 $920,000

$628 $923,861 $852,000

7% 7% 6%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 202 ● AUG 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

2,252

1,998

2,234

2,162

1,884

1,788

1,884

1,571

1,839

1,589

1,567

1,529

1,507

945

947

757

548

671

516

784

767

573

467

415

340

289

$923K $915K $920K $900K

$852K $850K $870K $860K $840K $810K

$860K $865K $899K

VancouverRegion REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

600

127

500

4+ bdrms

432

400

367

3 bdrms

300

968

51%

45% 43%

35%

200

27%

168

2 bdrms

20%

450

100

10%

<2 bdrms

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

S-L RATIO SALES INVENTORY

22 6 27%

69 35 51%

341 154 45%

560 240 43%

358 124 35%

229 62 27%

203 40 20%

102 10 10%

Copyright© Septem ber5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber5,2023.Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 6 ●

vancouverregion CONDO -AUGUST 2023

SALES TO LISTINGSRATIO 32% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere5,265 condolistingsin theVancouverRegion in August,3% below Julyand 0.6% higherthan August 2022. Augustcondosalesdecreased by3% m onth-over-m onth, to1,691,and were29% aboveAugust2022.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 3% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 1.7% VS 2022

▲ 4% VS 2022

▲ 0.6% VS 2022

▲ 29% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

Thesales-to-listing ratio forcondosin the Vancouver Region,at32% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

1,691 5,265

1,310 5,232

3% 1.7% 4% 28% 29% 0.6%

1,745 5,405

-3% -3%

Thecondom edian pricein Augustwas$670,000,a1.5% increasefrom Julyand 4% aboveAugust2022. Theaveragesold pricewas$744,574,0.3% below last m onth;theaveragePSF salepricewas$885,up 0.7% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$885 $744,574 $670,000 32%

$862 $731,782 $645,000 25%

$879 $746,905 $660,000 32%

0.7% -0.3% 1.5% -0.5%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 202 ● AUG 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

5,275

5,201

5,265

5,232

5,499 5,526

4,753

5,405

4,603

4,925

4,769

4,365

4,138

2,251

2,142

1,808

1,691

1,274

1,900

1,121

1,745

1,310

1,217

1,171

923

770

$675K $665K $660K $670K

$645K $620K $635K $625K

$625K $630K $630K $640K $652K

VancouverRegion REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

1600

33 2

1400

4+ bdrms

1200

1000

106

3 bdrms

800

578

42% 42%

600

39%

29% 27%

942

400

2 bdrms

2,902

13% 11%

200

641

<$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

191 74 39%

1,223 516 42%

1,487 623 42%

906 264 29%

432 118 27%

310 39 13%

323 34 11%

393 23 6%

1,752

Copyright© Septem ber5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber5,2023.Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 7 ●

greatervancouverboard area DETACHED -AUGUST 2023

SALES TO LISTINGSRATIO 15% BALANCEDMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 18% VS 2022

▲ 11% VS 2022

▼ 2% VS 2022

▲ 14% VS 2022

Therew ere 4,092 detached listingsin the G reater Vancouverboard areain August,1.6% aboveJulyand 2% lowerthan August2022. Augustdetached hom esalesdecreased by12% m onth-over-m onth,to596,and were14% aboveAugust 2022. Thesales-to-listing ratio fordetached in the G reater Vancouverboard area,at15% ,reflected abalanced market. Thedetachedm edian pricein Augustwas$1,890,000,a 4% increasefrom Julyand 11% aboveAugust2022.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

15% 596 4,092

13% 524 4,187

18% 11% 16% 14% -2%

17% 681 4,029

-14% -12% 1.6%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

Theaveragesold pricewas$2,347,753,8% abovelast m onth and up 18% toAugust2022.

$2,170,838 $1,810,000

8% 4%

$2,347,753 $1,890,000

$1,992,902 $1,700,000

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

3,954

3,964

4,187

4,092

4,148

3,598

4,029

1.80

3,579

1.79

2,968

3,228

1.66

3,077

2,928

2,801

1.52

1.48

1.39

1,038

733

578

490

371

844

596

301

806

524

681

532

513

$1.81M $1.88M $1.90M $1.86M $1.81M $1.89M $1.71M

$1.70M $1.68M $1.72M

$1.69M $1.70M $1.58M

22-Aug

23-Jul 23-Aug

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

1400

1200

1000

800

600

27%

26%

400

23%

20%

19%

17%

10%

200

<$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+ 1,453 110 8%

S-L RATIO SALES INVENTORY

60 12 20%

47 12 26%

116 20 17%

161 37 23%

313 83 27%

840 159 19%

565 107 19%

537 56 10%

●

greatervancouverboard area TOWNHOME-AUGUST 2023

SALES TO LISTINGSRATIO 34% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,024 townhom elistingsin theG reater Vancouverboard areain August,0.8% below Julyand 7% lowerthan August2022. Augusttownhom esalesdecreased by10% m onth-over-m onth,to352,and were21% aboveAugust 2022. Thesales-to-listing ratio fortow nhom esin theG reater Vancouverboard area,at34% ,reflected aselers'm arket. Thetownhom em edian pricein Augustwas$1,063,000,a 3% decreasefrom Julyand 12% aboveAugust2022. Theaveragesold pricewas$1,121,961,2% below last m onth;theaveragePSF salepricewas$791,down 0.4% tolastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 7% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 8% VS 2022

▲ 12% VS 2022

▼ 7% VS 2022

▲ 21% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

34% 352 1,024

26% 290 1,096

12% 30% 21% -7%

38% 391 1,032

-0.4% -2% -3% -9% -10% -0.8%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$791 $1,121,961 $1,063,000

$794 $1,146,361 $1,093,000

$740 $1,034,993 $945,000

7% 8%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 202 ● AUG 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,161

1,053

1,029 1,032

1,096

991

1,17

1,024

910

845

816 823

500

470

368

306

352

271

396

391

290

186

232

226

120

$1.09M $1.09M $1.06M

$1.02M

$1000K $1.05M $1.05M

$987K $979K $1.04M

$945K $950K

$949K

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

200

181

150

208

59%

3 bdrms

546

46% 45%

100

39%

29%

2 bdrms

19%

267

10%

<2 bdrms

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

S-L RATIO SALES INVENTORY

10 1 10%

26 12 46%

92 41 45%

177 104 59%

237 92 39%

189 55 29%

192 37 19%

101 10 10%

Copyright© Septem ber5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber5,2023.Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 9 ●

greatervancouverboard area CONDO -AUGUST 2023

SALES TO LISTINGSRATIO 33% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 3% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 1.9% VS 2022

▲ 4% VS 2022

▼ 1.8% VS 2022

▲ 27% VS 2022

Therewere3,923 condolistingsin theG reater Vancouverboard areain August,5% below Julyand 1.8% lowerthan August2022. Augustcondosalesdecreased by0.6% m onth-over-m onth,to 1,277,and were27% above August2022. Thesales-to-listing ratio forcondosin the G reater Vancouverboard area,at33% ,reflected aselers'm arket. Thecondom edian pricein Augustwas$721,000,a0.6% decreasefrom Julyand 4% aboveAugust2022. Theaveragesold pricewas$805,321,1.1% below last m onth;theaveragePSF salepricewas$953,down 0.2% tolastm onth.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

1,277 3,923

1,005 3,996

3% 1.9% 4% 29% 27% -1.8%

1,285 4,118

-0.2% -1.1% -0.6% 4% -0.6% -5%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$953 $805,321 $721,000 33%

$929 $790,221 $690,000 25%

$954 $813,989 $725,000 31%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 202 ● AUG 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

4,038

3,996

4,223

3,693

4,193

3,923

4,18

3,929

3,735

3,707

3,530

3,348

3,163

1,734

1,573

1,317

997

1,277

1,413

1,285

1,005

932

892

848 706

572

$729K $726K $725K $721K

$690K $670K

$677K $680K $685K $690K $680K $705K $720K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

30 2

1000

4+ bdrms

800

600

3 bdrms

54%

487

47%

400

33%

30% 27%

684

2 bdrms

200

2,111

13% 11%

508

<$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

84 28 33%

543 292 54%

1,076 501 47%

818 248 30%

411 113 27%

297 39 13%

313 33 11%

381 23 6%

1,295

Copyright© Septem ber5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber5,2023.Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 10 ●

fraservaley board area DETACHED -AUGUST 2023

SALES TO LISTINGSRATIO 15% BALANCEDMARKET

▶ MARKETSUMMARY Therew ere 3,023 detached listingsin the FraserValey board areain August,3% aboveJulyand 8% higherthan August2022. Augustdetached hom esalesrem ained thesam e m onth-over-m onth,at450,and were24% aboveAugust 2022. Thesales-to-listing ratio fordetached in the FraserValey board area,at15% ,reflected abalanced m arket.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 3% VS 2022

▲ 8% VS 2022

▲ 24% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

15% 450 3,023

13% 363 2,810

15% 24% 8%

15% 450 2,946

0% 3%

Thedetachedm edian pricein Augustwas$1,442,500,a 1.0% decreasefrom Julyand 8% aboveAugust2022.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

-5% -1% -3%

Theaveragesold pricewas$1,511,131,5% below last m onth and up 3% toAugust2022.

$1,588,941 $1,456,500

$1,511,131 $1,442,500

$1,469,836 $1,340,000

3% 8%

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

3,023

2,794

2,699

2,810

2,946

2,533

2,344

1.75

2,541

1.72

1.70

1,939

1.58

1.53

1,998

1,858

1,848

1,752

772

590

327

313

659

258

450

213

590

363

450

325

323

$1.50M $1.50M $1.46M $1.44M

$1.35M $1.43M

$1.34M $1.32M $1.32M

$1.24M $1.28M $1.28M $1.31M

22-Aug

23-Jul 23-Aug

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

1000

800

600

51%

400

31%

26%

19%

200

17%

14%

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

67 34 51%

31 6 19%

124 32 26%

251 78 31%

551 96 17%

930 133 14%

382 42 11%

255 15 6%

432 14 3%

●

fraservaley board area TOWNHOME-AUGUST 2023

SALES TO LISTINGSRATIO 37% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere860 townhom elistingsin theFraserValey board areain August,0.9% aboveJulyand 26% lower than August2022. Augusttownhom esalesdecreased by15% m onth-over-m onth,to319,and were13% aboveAugust 2022. Thesales-to-listing ratio fortow nhom esin theFraser Valey board area,at37% ,reflected aselers'm arket. Thetownhom em edian pricein Augustwas$825,000,a 3% decreasefrom Julyand 4% aboveAugust2022. Theaveragesold pricewas$835,546,1.3% below last m onth;theaveragePSF salepricewas$537,down 0.1% tolastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 5% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 3% VS 2022

▲ 4% VS 2022

▼ 26% VS 2022

▲ 13% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No. 44% 376 852

% Change

TOTALLISTINGS TOTALSALES

37% 319 860

24% 283 1,156

52% 13% -26%

-0.1% -1.3% -3% -16% -15% 0.9%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$537 $835,546 $825,000

$537 $846,717 $848,944

$512 $809,980 $790,000

5% 3% 4%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 202 ● AUG 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,156

1,17

945

1,001

852

797

860

684

810

751

684

679

661 389

477

445

319

245

388

376

283

242

235

189

169

154

$839K $850K $851K $849K $825K

$790K $780K $770K $798K $745K $745K

$770K $808K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

400

4+ bdrms

251

300

159

3 bdrms

53%

422

200

45%

42%

36%

27%

26%

2 bdrms

100

18%

183

4 1

<2 bdrms

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

S-L RATIO SALES INVENTORY

12 5 42%

43 23 53%

249 113 45%

383 136 36%

121 32 26%

40 7 18%

11 3 27%

1 0 n/a

Copyright© Septem ber5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber5,2023.Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 12 ●

fraservaley board area CONDO -AUGUST 2023

SALES TO LISTINGSRATIO 31% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,342 condolistingsin theFraserValey board areain August,4% aboveJulyand 9% higherthan August2022. Augustcondosalesdecreased by10% m onth-over-m onth,to414,and were36% aboveAugust 2022. Thesales-to-listing ratio forcondosin the FraserValey board area,at31% ,reflected aselers'm arket. Thecondom edian pricein Augustwas$540,000,a0.4% increasefrom Julyand 5% aboveAugust2022. Theaveragesold pricewas$557,198,0.4% below last m onth;theaveragePSF salepricewas$678,up 1.4% to lastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 6% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 3% VS 2022

▲ 5% VS 2022

▲ 9% VS 2022

▲ 36% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

31% 414 1,342

25% 305 1,236

25% 36% 9%

36% 460 1,287

1.4% -0.4% 0.4% -14% -10% 4%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$678 $557,198 $540,000

$668 $559,509 $537,750

$641 $539,217 $514,900

6% 3% 5%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 202 ● AUG 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,272

1,342

1,237

1,190

1,236

1,306

1,303

1,287

1,073

1,060

1,062

1,017

975

569

491

517

414

487

460

273

305

285

279

277

217

198

$515K $500K $505K $490K $485K $497K $499K

$510K $510K $535K $528K $538K $540K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

700

4+ bdrms

600

500

400

3 bdrms

300

43%

33%

30%

200

258

24%

2 bdrms

18%

791

100

10%

133

<$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

107 46 43%

680 224 33%

411 122 30%

88 16 18%

21 5 24%

13 0 n/a

10 1 10%

12 0 n/a

457

Copyright© Septem ber5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber5,2023.Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 13 ●

burnabynorth DETACHED -AUGUST 2023

SALES TO LISTINGSRATIO 21% BALANCEDMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 17% VS 2022

▲ 12% VS 2022

▼ 20% VS 2022

▼ 28% VS 2022

Therewere87 detachedlistingsin BurnabyN orth in August,3% below Julyand 20% lowerthan August2022. Augustdetached hom esalesdecreased by42% m onth-over-m onth,to18,and were28% below August 2022. Thesales-to-listing ratio fordetached in Burnaby N orth, at21% ,reflected abalanced m arket.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

18 87

$1,872,192 $1,750,000 23% 25 109

17% 12% -10% -28% -20%

31 90

10% 6% -40% -42% -3%

Thedetachedm edian pricein Augustwas$1,951,900,a 6% increasefrom Julyand 12% aboveAugust2022.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$2,183,378 $1,951,900 21%

$1,988,729 $1,850,000 34%

Theaveragesold pricewas$2,183,378,10% abovelast m onth and up 17% toAugust2022.

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

109

86 85

2.41

2.27

2.02

1.34

1.24

1.14

$2.09M $2.05M $2.05M

$2.04M $1.96M

$1.96M $1.93M $1.89M

$1.85M $1.95M

$1.79M

$1.75M $1.71M

22-Aug

23-Jul 23-Aug

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

41%

17%

16%

<$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

22 9 41%

29 5 17%

17 1 6%

19 3 16%

●

burnabynorth TOWNHOME-AUGUST 2023

SALES TO LISTINGSRATIO 34% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere32 townhom elistingsin BurnabyN orth in August,14% aboveJulyand 11% lowerthan August 2022. Augusttownhom esalesdecreased by21% m onth-over-m onth,to11,and were120% aboveAugust 2022. Thesales-to-listing ratio fortow nhom esin Burnaby N orth,at34% ,reflected aselers'm arket. Thetownhom em edian pricein Augustwas$810,000,a 11% decreasefrom Julyand 5% aboveAugust2022. Theaveragesold pricewas$887,545,4% below last m onth;theaveragePSF salepricewas$619,down 14% tolastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▼ 4% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 1.8% VS 2022

▲ 5% VS 2022

▼ 11% VS 2022

▲ 120% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

11 32

$647 $872,200 $770,000 14% 5 36

-4% 1.8% 5% 148% 120% -11%

14 28

-14% -4% -11% -31% -21% 14%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$619 $887,545 $810,000 34%

$721 $921,100 $914,950 50%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 202 ● AUG 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

34 34

25 25 25

$915K

$880K $885K $900K

$875K $868K

$810K

$790K $830K

$770K $748K $775K

$748K

BURNABYNORTH REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

100%

4+ bdrms

3 bdrms

50%

30%

25%

2 bdrms

17%

<2 bdrms

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

S-L RATIO SALES INVENTORY

2 2 100%

10 3 30%

8 2 25%

6 3 50%

6 1 17%

Copyright© Septem ber5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber5,2023.Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 15 ●

burnabynorth CONDO -AUGUST 2023

SALES TO LISTINGSRATIO 29% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 9% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 0.3% VS 2022

▼ 4% VS 2022

▲ 24% VS 2022

▲ 18% VS 2022

Therewere357 condolistingsin BurnabyN orth in August,5% aboveJulyand 24% higherthan August2022.

Augustcondosalesdecreased by5% m onth-over-m onth, to104,and were18% aboveAugust2022.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No. 32% 109 339

% Change

Thesales-to-listing ratio forcondosin Burnaby N orth,at 29% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

29% 104 357

$835 $689,905 $676,000 31% 88 287

9% 0.3% -4% -5% 18% 24%

1.6% -6% -5% -9% -5% 5%

Thecondom edian pricein Augustwas$652,000,a5% decreasefrom Julyand 4% below August2022. Theaveragesold pricewas$692,067,6% below last m onth;theaveragePSF salepricewas$911,up 1.6% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$911 $692,067 $652,000

$896 $738,553 $683,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 202 ● AUG 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

339

357

301

268

287

264

299

253

270

257

251

245

218

120 121

104

109

$704K $667K $707K $661K $708K $680K

$696K $730K

$683K $652K

$676K

$651K $692K

BURNABYNORTH REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

120

4+ bdrms

100

3 bdrms

50%

45%

2 bdrms

213

14%

8% 6%

<$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 0 n/a

62 28 45%

115 57 50%

110 15 14%

36 3 8%

17 1 6%

10 0 n/a

6 0 n/a

104

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