the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION
published March 2020
table of contents
02 INTRO
Each month, we release the rennie review, a detailed look at the real estate marketplace in Vancouver and the Lower Mainland. This report examines the market stats by neighbourhood, current rennie projects, and more.
03 WHAT YOU NEED TO KNOW
04 FEATURED LISTINGS
NEIGHBOURHOOD PROFILES
05
Greater Vancouver Board Area
08 Burnaby North 11 Burnaby South 14 Coquitlam 17 Fraser Valley Board Area 20 Langley 23 North Vancouver
Andrew Ramlo VP Intelligence aramlo@rennie.com
Ryan Berlin Senior Economist rberlin@rennie.com
26 Richmond 29 Squamish 32 Surrey
35 Vancouver East 38 Vancouver West 41 West Vancouver
43 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, 2020. All data from RealEstateBoardof 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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
strong housing fundamentals with economic uncertainty on the horizon Sale prices are rising throughout the Vancouver region in response to sustained demand in the face of increasingly limited supply. While our market is now facing a confluence of economic headwinds, housing fundamentals remain strong.
below historical averages in all but one of the past 12 months, ranging from 0.5% lower in October 2019 to 45% lower in March 2019. We expect some of this pent-up demand to be released into over the next 12-18 months, with additional support being provided to the housing market via continued population growth (through migration) and a tight labour market (Vancouver’s unemployment rate fell to 4.4% in February). All of that said, we would be remiss not to put this into the context of rising economic uncertainty due to the continuing global health crisis and the range of economic dynamics ranging from volatile stock markets and falling oil prices to plunging interest rates and changes to the mortgage stress test. As a result of this confluence of economic headwinds and housing market tailwinds it is as important as ever to continue to track the indicators that matter to us here in the Vancouver region. And while we may endure some turbulence in the short-term, our fundamentals remain solid, which bodes well for both the medium- and long-term future of our housing market.
(-0.7%), Burnaby South (-1.6%), and West Van (-4.8%) have yet to reach last year’s level. Within the detached segment of the market, North Vancouver (+3.1%) and Langley (+1.9%) experienced the largest year-over- year rise in benchmark prices, while West Van (-3.9%) and Burnaby South (-4.2%) remained below last year’s price level more so than other sub markets. Based on this (and other economic data), it seems clear that some degree of buyer confidence has returned to the Vancouver region’s housing market. In addition, there remains a substantial amount of pent-up demand as indicated by the difference in recent monthly per capita sales counts and their historical counterparts. For example, there were 1.49 sales in February 2020 per 1,000 residents in the region, which was 19% below the past-decade average of 1.83 (for February). Per capita sales ratios have been
Resale data for February 2020 for the Vancouver region show a continuation of trends that established themselves in July 2019, with sales increasing on a year-over- year basis for the eighth straight month, while inventory contracted for the fifth consecutive month. The consequence of this recalibrated supply-demand landscape has been increases in both year-over-year and month-over- month benchmark prices for all home types. More specifically, detached prices were up 0.2% this past month compared to February 2019, townhome prices were up 0.9%, and condo prices were up 1.1%; meanwhile, detached and townhome prices were up 0.6%, and condos were up 1.9%, compared to January 2020. On a neighbourhood basis, benchmark condo prices in Coquitlam and North Van have been rising the fastest in the region, at 3.0% and 2.3%, respectively, while those in Langley
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, 2020. All data from RealEstateBoardof 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
Hotel Georgia $4,199,000 | DOWNTOWN 3904-667 Howe St. 2 Bed, 2,203 SF Danny Chow PREC* 604.765.2469
Highbury Residences $3,526,782 | KITSILANO 201-1981 Highbury St. 3 Bed, 2,453 SF Brandan Price PREC* 604.765.9555
House $3,499,000 | WEST VAN 1578 Gordon Ave. 6 Bed, 3,950 SF Mike Ross 778.987.8874
The Ridge
Belpark
The Village
$1,898,000 | KITSILANO
$2,800,000 | SOUTH VAN 605/606-7428 Alberta St. 3 Bed, 1,578 SF
$2,199,999 | FALSE CREEK
803-1616 Columbia St. 3 Bed, 1,255 SF Brandon Blue PREC* 604.999.7792
313-2118 W 15th Ave. 2 Bed, 1,389 SF Brandan Price PREC* 604.765.9555
Tracy Lam PREC* 778.688.8035
Connaught
Le Marquis
2 River Green
$1,599,900 | NORTH VAN 208-1055 Ridgewood Dr. 3 Bed, 1,456 SF
$1,499,000 | WEST VAN
$1,100,000 | RICHMOND
201-475 13th St. 3 Bed, 1,656 SF Salina Kai PREC* 604.773.7013
202-6611 Pearson Way 2 Bed, 1,055 SF
Jenna Van Alstine 778.558.3355
Andy Mah 604.779.9382
1000 Beach
Townhome
The Village
$989,000 | DOWNTOWN 1803-1000 Beach Ave. 1 Bed, 800 SF Christopher Boyd PREC* 604.351.0533
$1,099,800 | PORT MOODY
$848,800 | FALSE CREEK
101-3021 St George St. 4 Bed, 1,358 SF
512-1661 Ontario St. 1 Bed, 746 SF Phil Chang PREC* 604.754.6678
Linda Kang 604.787.5923
The Sapphire
Pacifica
Brookmere
$835,000 | COAL HARBOUR
$778,800 | COQUITLAM 1906-530 Whiting Way 3 Bed, 990 SF
$759,000 | CAMBIE VILLAGE
2503-1188 W Pender St. 1 Bed, 621 SF
605-503 W 16th Ave. 2 Bed, 1,065 SF Irene De Guzman 604.720.1996 Townhome $589,900 | SURREY 8-7121 192 St. 4 Bed, 1,565 SF Artyom Seroff PREC* 778.223.0033
Derek Kai PREC* 604.868.1666
Harjas Panesar 778.968.8262
Madison & Dawson $608,000 | BURNABY 303-2188 Madison Ave. 1 Bed, 705 SF
The Boardwalk $588,800 | SOUTH VAN 112-8460 Jellicoe St. 2 Bed, 965 SF Eric Zamora PREC* 778.389.4556
Simon Lai PREC* 778.881.3603
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 March 9, 2020. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
4
DETACHED - FEBRUARY 2020 greater vancouver board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
26 % DOWN
9 % UP
-
0.7 % DOWN
52 % UP
BALANCED 17 %
Detached listings in the REBGV increased to 4,129 in February, 0.8% above January but 26% lower vs February 2019. Detached sales, at 686, increased 55% compared to January and were 52% higher vs February 2019. The sales-to-listings ratio increased to 17%, as the REBGV detached market transitioned to balanced market territory. The detached benchmark price in February was $1.43M, relatively unchanged month-over-month and a 0.7% decline year-over-year. The average sold price was $1.60M, up 0.8% from the previous month and 9% 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
4,129
4,097
0.8% 55% 53%
5,596
-26% 52% 106%
TOTAL SALES
686 17%
444 11%
452
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
8%
$1,433,900 $1,431,200 0.2% $1,444,200 -0.7% $1,602,564 $1,589,783 0.8% $1,468,915 9%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
(MILLIONS)
$1.44
$1.43
$1.43
$1.42
$1.42
$1.41
$1.41
1.85
1.83
1.83
6,829
6,524
6,332
5,772
5,596
1.18
1.16
1.16
4,129
3,840
945
760
711
686
603
584
452
Feb-19
Jan-20
Feb-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 March 4, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
5
greater vancouver board area
TOWNHOME - FEBRUARY 2020
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 0.6 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
20 % DOWN
1.6 % DOWN
0.7 % DOWN
42 % UP
SELLER’S 28 %
The number of townhome listings in the REBGV fell to 1,226 in February, 6% above January but 20% lower year-over-year. Townhome sales in February, at 340, were up 25% vs January and were 42% above last year. The sales-to-listings ratio increased to 28% as the REBGV townhome market remained favourable to sellers. The townhome benchmark price in February was $785,000, relatively unchanged from January and 0.6% higher than in February 2019. The average sold price was $809,640, with an average PSF sales price of $560 (7% and 5% lower, respectively, vs January).
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,226
1,153
6%
1,539
-20% 42% 79% 0.6% -1.6% -0.7%
TOTAL SALES
340 28%
271 24%
25% 18%
239 16%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$785,000 $782,500 $809,640 $874,385
0.3% $780,600 -7% $822,923
$560
$587
-5%
$564
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$780,600 $775,000 $774,700 $771,900 $771,600 $778,400 $785,000
2,157
1,994
1,994
1,785
1,539
1,226
1,129
465
345
341
340
316
293
239
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
61
4+ bdrms
BUYER'S MARKET
222
190
3 bdrms
668
89
<3 bdrms
. . . . 0 0 0 0
338
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 March 4, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
6
greater vancouver board area
CONDO - FEBRUARY 2020
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 0.8 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
1.8 % DOWN
1.7 % UP
20 % DOWN
40 % UP
SELLER’S 29 %
The number of condo listings in the REBGV increased to 3,716 in February, 6% above January but 20% below February 2019. At 1,064, condo sales were 31% higher month-over- month and 40% higher year-over-year. The sales-to-listings ratio increased to 29%, as the REBGV condo market remained in seller’s market territory. The condo benchmark price in February was $677,200, 2% below January and up 0.8% compared to February 2019. The average sold price was $666,799 (relatively unchanged from January) with an average PSF sales price of $799 (1.8% higher vs January).
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
3,716 1,064
3,514
6%
4,648
-20% 40% 75% 0.8% -1.8% 1.7%
TOTAL SALES
814 23%
31% 24%
759 16%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
29%
$677,200 $663,200 $666,799 $665,190
2% $671,500 0.2% $679,254
$799
$785
1.8%
$786
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$671,500 $667,500 $654,700 $654,000 $652,500 $656,700 $677,200
6,224
6,011
5,632
5,061
4,648
3,716
3,282
1,387
1,119
1,064
1,053
945
884
759
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
56
3+ bdrms
BUYER'S MARKET
451
559
2 bdrms
2,176
449
<2 bdrms
. . . . 0 0 0 0
1,099
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 March 4, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
7
DETACHED - FEBRUARY 2020 burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 1.3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
44 % DOWN
17 % UP
-
26 % UP
SELLER’S 23 %
The number of detached listings in Burnaby North in February, at 105, was 0.9% lower month-over- month and 44% lower year-over-year. With 24 in February, detached sales were unchanged month-over-month and 5 above last year. The sales-to-listings ratio remained at 23%, as Burnaby North’s detached market was balanced. The benchmark price in February was $1.42M, relatively unchanged from January and 1.3% above February 2019. The average sold price was $1.84M, up 25% from the previous month and 17% above February 2019.
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 106
% Change
No. 187
% Change
TOTAL LISTINGS
105
-0.9% 0.0% 1.0%
-44% 26% 125%
TOTAL SALES
24
24
19
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
23%
23%
10%
$1,418,400 $1,416,400 0.1% $1,400,800 1.3%
$1,838,826 $1,476,146
25% $1,565,105
17%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
(MILLIONS)
$1.42
$1.40
$1.40
$1.39
$1.39
$1.38
$1.37
1.97
1.96
1.95
239
225
212
187
167
1.19
1.19
1.19
105
96
49
32
30
24
24
23
19
Feb-19
Jan-20
Feb-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 March 4, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
8
TOWNHOME - FEBRUARY 2020 burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 1.7 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
10 % DOWN
8 % DOWN
14 % DOWN
18 % UP
SELLER’S 27 %
The number of townhome listings in Burnaby North increased 33% from last month, settling at 48, but was 14% below February 2019. Townhome sales, at 13, were unchanged vs last month and 2 above February 2019. The sales-to-listings ratio decreased to 27% in February, as Burnaby North’s townhome segment remained a seller’s market. The benchmark price in February was $727,700, 1.0% above January and 1.7% higher vs February 2019. The average sold price was $605,470 in February, (decreasing 25% vs January) while the average PSF sales price was $474 (decreasing 21%).
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
48 13
36 13
33% 0.0% -25%
56 11
-14% 18% 38% 1.7% -10%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
27%
36%
20%
$727,700 $720,700 $605,470 $802,962
1.0% $715,300 -25% $672,341
$474
$602
-21%
$517
-8%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$715,300 $709,200 $725,500 $721,500 $723,900 $724,200 $727,700
76
75
72
66
56
48
42
22
20
17
16
13
13
11
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
1
4+ bdrms
BUYER'S MARKET
5
6
3 bdrms
26
6
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD QD
17
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 March 4, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
9
CONDO - FEBRUARY 2020 burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE 5 % UP
BENCHMARK PRICE 2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
3 % UP
17 % DOWN
0.0 %
SELLER’S 28 %
There were 190 condo listings in Burnaby North in February, 15% above January but 17% lower vs February 2019. February condo sales decreased by 1 month-over- month and was unchanged year-over-year. The sales-to-listings ratio for condos in Burnaby North decreased to 28%, remaining a seller’s market. The condo benchmark price in February was $613,200, 1.0% above January and 2% higher vs February 2019. The average sold price was $599,829, 4% below last month; the average PSF sales price was $738, up 0.8% from last month.
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 165
% Change
No. 229
% Change
TOTAL LISTINGS
190
15%
-17% 0.0% 21%
TOTAL SALES
54
55
-1.8% -15%
54
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
28%
33%
24%
$613,200 $606,900 $599,829 $622,159
1.0% $599,900 -4% $580,857
2% 3% 5%
$738
$732
0.8%
$702
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$599,900 $611,800 $607,800 $601,700 $590,300 $598,500 $613,200
331
316
310
280
229
190
147
92
74
63
54
54
54
40
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
3+ bdrms
BUYER'S MARKET
17
33
2 bdrms
121
18
<2 bdrms
. . . . 0 0 0 0 QD QD QD
52
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 March 4, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
10
DETACHED - FEBRUARY 2020 burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
25 % DOWN
0.3 % UP
-
200 % UP
BALANCED 15 %
There were 144 detached listings in the Burnaby South market area in February, 4% above last month but 25% lower vs February 2019. Detached sales rose by 7, to 21, between January and February, and were 14 higher year-over-year. The sales-to-listings ratio increased to 15%, as Burnaby South’s detached market transitioned to balanced market territory. The benchmark price in February was $1.48M, 1.1% below the previous month and a 4% decline vs last year. The average sold price for detached homes was $1.59M, 9% higher month-over-month and relative- ly unchanged from February of last year.
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 139
% Change
No. 192
% Change
TOTAL LISTINGS
144
4%
-25% 200% 300%
TOTAL SALES
21
14
50% 45%
7
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
15%
10%
4%
$1,477,800 $1,493,500 -1.1% $1,542,100
-4%
$1,588,857 $1,455,966
9% $1,583,720 0.3%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
(MILLIONS)
$1.54
$1.53
$1.50
$1.49
$1.48
$1.47
$1.47
1.94
1.91
1.91
242
225
222
206
192
1.17
1.16
1.14
144
127
30
26
23
21
21
19
7
Feb-19
Jan-20
Feb-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 March 4, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
11
TOWNHOME - FEBRUARY 2020 burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
9 % UP
46 % DOWN
1.3 % UP
86 % UP
SELLER’S 30 %
Townhome listings in the Burnaby South market area in February (at 44) were down 2% from last month and 46% below last year. The 13 townhome sales were 6 higher month-over- month and year-over-year. The sales-to-listings ratio jumped to 30%, as Burnaby South’s townhome market transitioned to seller’s market. The benchmark price in February was $773,400, 0.7% above January but 4% lower year-over-year. The average sold price was $813,284 (up 4% from January) with an average PSF sales price of $607 (down 3% vs January).
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
44 13
45
-2% 86% 90%
82
-46% 86% 246%
TOTAL SALES
7
7
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
30%
16%
9%
$773,400 $768,100 $813,284 $781,543
0.7% $807,300 4% $746,000
-4%
9%
$607
$627
-3%
$599
1.3%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$807,300 $768,100 $762,600 $767,000 $776,600 $762,600 $773,400
113
104
99
84
82
47
44
23
18
18
14
13
12
7
BURNABY SOUTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
2
4+ bdrms
BUYER'S MARKET
4
8
3 bdrms
24
3
<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 March 4, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
12
CONDO - FEBRUARY 2020 burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE 3 % UP
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
11 % UP
35 % DOWN
1.6 % DOWN
8 % UP
SELLER’S 29 %
The number of condo listings in Burnaby South, at 240, decreased 3% month-over-month and fell 35% vs last year. February’s condo sales, at 69, were 11% above last month and 8% higher than last year. The sales-to-listings ratio increased to 29% in February, as Burnaby South’s condo segment remained in seller’s market territory. The condo benchmark price in February was $678,200, up 2% vs January but a 1.6% decrease from February 2019. The average sold price was $635,385 with an aver- age PSF sales price of $744 (7% and 1.2% higher vs January, respectively).
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 247
% Change
No. 367
% Change
TOTAL LISTINGS
240
-3% 11% 15%
-35%
TOTAL SALES
69
62
64
8%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
29%
25%
17%
65%
$678,200 $661,700 $635,385 $595,215
2% $689,400 7% $574,369
-1.6%
11%
$744
$735
1.2%
$722
3%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$689,400 $679,200 $666,200 $648,500 $645,300 $652,000 $678,200
457
433
437
389
367
240
228
97
88
77
70
69
64
58
BURNABY SOUTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
5
3+ bdrms
BUYER'S MARKET
20
41
2 bdrms
173
23
<2 bdrms
. . . . 0 0 0 0 QD QD QD
47
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 March 4, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
13
coquitlam
DETACHED - FEBRUARY 2020
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
3 % DOWN
-
0.8 % DOWN
34 % DOWN
72 % UP
SELLER’S 23 %
The number of detached listings in Coquitlam fell to 294 in February, 4% below January and 34% lower year-over-year. The 67 detached sales in February represented an increase of 63% from January and a 72% jump vs February of last year. Coquitlam’s sales-to-listings ratio increased to 23% as the detached segment transitioned to seller’s market territory. The benchmark price in February was $1.17M, rela- tively unchanged from January and a 0.8% decrease year-over-year. The average sold price was $1.28M in February, down 2% vs January and a 3% decrease vs February.
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 307
% Change
No. 447
% Change
TOTAL LISTINGS
294
-4% 63% 71%
-34% 72% 161%
TOTAL SALES
67
41
39 9%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
23%
13%
$1,173,300 $1,170,200 0.3% $1,182,800 -0.8%
$1,278,758 $1,307,233
-2% $1,315,264
-3%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
(MILLIONS)
$1.18
$1.17
$1.17
$1.16
$1.16
$1.16
$1.15
1.80
1.76
1.75
586
532
532
470
447
1.27
1.25
1.25
294
284
97
80
78
67
65
51
39
Feb-19
Jan-20
Feb-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
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 March 4, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
14
coquitlam
TOWNHOME - FEBRUARY 2020
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
SELLER’S 57 %
6 % DOWN
0.2 % DOWN
34 % DOWN
29 % UP
There were 63 townhome listings in Coquitlam in February, 1.6% above January but 34% lower vs February 2019. The 36 townhome sales in February were up by 8 month-over-month and year-over-year. The sales-to-listings ratio increased to 57% as Coquitlam’s townhome market remained in seller’s market territory. The townhome benchmark price in February was $671,500, 1.0% above January and 2% higher vs February 2019. The average sold price was $816,183, with an average PSF sales price of $471 (6% higher and 4% lower, respectively, vs January).
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
63 36
62 28
1.6% 29% 27%
96 28
-34% 29% 96%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
57%
45%
29%
$671,500 $664,900 $816,183 $768,704
1.0% $656,200 6% $863,807
2%
-6%
$471
$493
-4%
$472
-0.2%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$656,200 $662,500 $657,300 $651,800 $648,600 $663,000 $671,500
164
144
143
106
96
63
61
49
34
29
28
25
36
32
COQUITLAM REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
17
4+ bdrms
BUYER'S MARKET
24
15
3 bdrms
33
4
<3 bdrms
. . . . 0 0 0 0 QD QD QD
6
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 March 4, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
15
coquitlam
CONDO - FEBRUARY 2020
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
SELLER’S 39 %
4 % UP
10 % UP
20 % DOWN
38 % UP
The 224 condo listings in Coquitlam in February were up 27% from January but 20% lower vs February 2019. Year-over-year condo sales rose by 38% in February (to 88) and were 24% higher vs January. The sales-to-listings ratio dipped to 39%, as Coquitlam’s condo market remained in seller’s market territory. The condo benchmark price in February was $539,000, 3% higher month-over-month and year-over-year. The average sold price was $530,820 in February (up 1.6% vs January) while the average PSF sales price was $665 (a 6% increase vs January).
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 177
% Change
No. 279
% Change
TOTAL LISTINGS
224
27% 24% -2%
-20% 38% 71%
TOTAL SALES
88
71
64
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
39%
40%
23%
$539,000 $521,900 $530,820 $522,472
3% $523,300 1.6% $511,163
3% 4%
$665
$626
6%
$607
10%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$523,300 $511,500 $514,600 $524,300 $517,000 $528,100 $539,000
413
399
384
330
279
224
180
103
103
88
82
64
64
61
COQUITLAM REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
2
3+ bdrms
BUYER'S MARKET
22
55
2 bdrms
140
31
<2 bdrms
. . . . 0 0 0 0 QD QD QD QD
62
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 March 4, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
16
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