rennie review - March 2020

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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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