the rennie review

DATA-DRIVEN INSIGHT INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION

published September 2019

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 08 11 14 17 20 23 26 29 32 35 38 41

Greater Vancouver Board Area

Burnaby East Burnaby North Burnaby South

Coquitlam

Andrew Ramlo VP Intelligence aramlo@rennie.com

Ryan Berlin Senior Economist rberlin@rennie.com

Fraser Valley Board Area

Langley

North Vancouver

Richmond

Surrey

Vancouver East Vancouver West West Vancouver

43 CURRENT PROJECTS

Current as of September 3, 2019. All data from the Real Estate Board of Greater Vancouver and Fraser Valley. The information set out herein (the “Information”) is intended for informational purposes only. RAR & RMS has not verified the information and does not represent, warrant or guarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipientmaydeemnecessary toverify the informationprior toplacinganyrelianceupon the information.The informationmaychangeandanypropertydescribed in the informationmaybewithdrawn from themarketatany timewithoutnoticeorobligation to therecipient fromRAR&RMS. 2

data points, trends, & a market on the mend .

With year-over-year sales rising in both July and August, and arguably the best economic fundamentals in all of Canada, signs are pointing to a rebounding housing market in Greater Vancouver.

(including rebounding sales, a slowdown in inventory expansion, and a plateauing of prices) has already begun to turn a corner. Last month, in reference to the July sales bump, we noted that one data point does not make a trend. With August revealing a second sales bump, it begs the question: do two months of increasing sales make a trend? While the answer to this may depend on who you ask, we can all agree that it’s the third and fourth points that will ultimately shed light on the trajectory of the developing trend (is it linear? parabolic? exponential?). For this reason, and because many would- be buyers re-emerge from their summer hiatus in September, we’ll be keeping a keen eye on the evolution of the region’s housing market through the balance of this month with a view to projecting how 2019 is likely to play out for buyers and sellers throughout the region.

It’s been a fascinating couple of months for real estate market watchers in the Vancouver region, as the increase in demand that we saw at the beginning of the summer holidays continued through to their end. More specifically, after sales increased by 19% on a year-over-year basis in July, they were up by 15% in August (again, compared to last year). This is noteworthy for two reasons. First, these back-to-back increases were the region’s first year-over-year increases in 18 months. As we’ve been noting since the start of 2019, the downward pressure on sales that originated from both the slew of national-to-local demand-suppressing policies and from buyers’ price fatigue would eventually abate in the face of continued demographic and economic growth. Add to that the fact that per capita sales activity has been significantly below

what would be considered typical for this market, and it’s clear that the stage had already been set for a change in market trajectory. Secondly, economic conditions are such that Canada (which just registered 3.7% annual growth in GDP, the highest among G7 nations), and more specifically the Vancouver region, each resemble an oasis in a world increasingly beset by political turmoil, conflict, and uncertainty. In Greater Vancouver, the past year has seen employment grow by 6.5% (second-fastest among metros in Canada; Calgary was tops, at 6.6%); the unemployment rate fall to its theoretical floor (4.0%); and median weekly wages increase by 6.0%--three times the national average and twice as fast as regional inflation. As we look ahead, all of this creates a solid foundation for a housing market that by almost all measures

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CurrentasofSeptember 3rd, 2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The information setoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnot verified the informationanddoesnot represent,warrantor guarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipientmaydeemnecessary toverify the informationprior toplacinganyrelianceupon the information.The informationmaychangeandanypropertydescribed in the informationmaybewithdrawn from themarketatany timewithoutnoticeorobligation to therecipient fromRAR&RMS.

greater vancouver board area

DETACHED - AUGUST 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 10 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

4 % DOWN

11 % DOWN

24 % UP

BALANCED 12 %

Detached listings in the REBGV decreased to 6,013 in August, 8% below July and 11% lower vs August 2018. Detached sales, at 713, decreased 16% compared to July but were 24% higher than in August 2018. The sales-to-listings ratio dipped to 12%, as the REBGV detached market remained balanced market territory. The detached benchmark price in August was $1.41M, 0.7% lower month-over-month and a 10% decline year-over-year. The average sold price was $1.56M, up 4% from the previous month but down 4% year-over-year.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

6,013

6,519

-8%

6,767

-11% 24% 39%

TOTAL SALES

713 12%

852 13%

-16%

576

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

-9%

$1,406,700 $1,417,000 -0.7% $1,558,900 -10%

$1,560,879 $1,494,452

4% $1,625,064

-4%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.56

$1.53

$1.48

$1.44

$1.43

2.21

$1.42

$1.41

2.17

2.15

1.86

6,714

1.84

6,819

1.82

6,767

6,519

6,013

5,593

4,809

760

713

639

584

576

452

353

Aug-18

Jul-19

Aug-19

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

Current as of September 2, 2019. All data from the Real Estate Board of Greater Vancouver and Fraser Valley. The information set out herein (the “Information”) is intended for informational purposes only. RAR & RMS has not verified the information and does not represent, warrant or guarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipientmaydeemnecessary toverify the informationprior toplacinganyrelianceupon the information.The informationmaychangeandanypropertydescribed in the informationmaybewithdrawn from themarketatany timewithoutnoticeorobligation to therecipient fromRAR&RMS.

greater vancouver board area

TOWNHOME - AUGUST 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 8 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

8 % DOWN

21 % UP

17 % UP

BALANCED 19 %

The number of townhome listings in the REBGV dipped to 1,821 in August, 11% below July but 21% higher year-over-year. Townhome sales in August, at 345, were down 15% vs July but were 17% above last year. The sales-to-listings ratio decreased to 19% as the REBGV townhome market remained balanced. The townhome benchmark price in August was $771,900, 0.2% above July but 8% lower than in August 2018. The average sold price was $811,496, with an aver- age PSF sales price of $564 (2% and 1.4% higher, respectively, vs July).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

1,821

2,036

-11% -15%

1,504

21% 17% -8% -8% -8% -3.1%

TOTAL SALES

345 19%

404 20%

294 20%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

-5%

$771,900 $770,000 $811,496 $794,520

0.2% $837,600 2% $885,430

$564

$556

1.4%

$616

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$837,600 $818,900 $797,400 $780,600 $775,000 $774,700 $771,900

2,151

1,992

1,821

1,696

1,538

1,504

1,293

345

341

316

311

294

239

167

REBGV

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

338

191

3 bdrms

996

106

<3 bdrms

. . . . 0 0 0 0

489

S-L RATIO SALES INVENTORY

greater vancouver board area

CONDO - AUGUST 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 7 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

9 % DOWN

7 % DOWN

23 % UP

9 % UP

SELLER’S 22 %

The number of condo listings in the REBGV decreased to 5,182 in August, 11% below July but 23% above August 2018. At 1,120, condo sales were 10% lower month-over- month but 9% higher year-over-year. The sales-to-listings ratio increased to 22%, as the REBGV condo market remained in seller’s market territory. The condo benchmark price in August was $654,000, up 0.1% from July but down 7% com- pared to August 2018. The average sold price was $651,064 (0.9% below July) with an average PSF sales price of $772 (up from July by 1.0%).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

5,182 1,120

5,801 1,244

-11% -10%

4,196 1,028

23%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

22%

21%

24%

-12%

$654,000 $653,200 $651,064 $656,791

0.1% $706,000 -0.9% $712,580

-7% -9% -7%

$772

$764

1.0%

$834

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$706,000 $693,200 $675,200 $671,500 $667,500 $654,700 $654,000

6,220

6,009

5,182

5,040

4,647

4,196

3,862

1,120

1,028

983

945

884

759

537

REBGV

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

517

603

2 bdrms

3,092

452

<2 bdrms

. . . . 0 0 0 0

1,584

S-L RATIO SALES INVENTORY

DETACHED - AUGUST 2019 burnaby east

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 8 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

24 % DOWN

0.8 % DOWN

57 % UP

SELLER’S 21 %

The number of detached listings in Burnaby East in August, at 53, was 12% lower vs the previous month and 24% below August 2018. There were 11 detached sales in August, 5 more than the previous month and 4 above August 2018. The sales-to-listings ratio jumped to 21%, as Burnaby East’s detached segment transitioned to a seller’s market. The benchmark price for detached homes in Burnaby East was $1.17M—1.4% below last month and 8% lower year-over-year. The average sold price in Burnaby East in August was $1.37M, down 0.9% vs July and 0.8% below August 2018.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

53 11

-12% 83% 108%

-24% 57% 108%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

21%

10%

$1,165,800 $1,181,900 -1.4% $1,269,200 $1,373,500 $1,385,417 -0.9% $1,384,823 -0.8% -8%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.27

$1.25

$1.18

$1.17

$1.16

1.82

1.81

1.78

1.66

1.64

1.62

Aug-18

Jul-19

Aug-19

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

burnaby east

TOWNHOME - AUGUST 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 10 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

12 % DOWN

11 % DOWN

38 % UP

50 % UP

BUYER’S 15 %

The number of townhome listings in Burnaby East decreased to 40 in August, 11% below July but 38% higher than in August 2018. Townhome sales, at 6, were 2 above last month and last year. The sales-to-listings ratio increased to 15%, as Burnaby East’s townhome market transitioned to balanced market territory. The benchmark price in August was $644,900, 0.5% below the previous month and 10% lower vs August 2018. The average sold price was $689,000 (11% higher than last month) with an average PSF sales price of $547 (11% below last month).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

-11% 50% 69%

38% 50%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

15%

14%

$644,900 $648,400 $689,000 $622,250

-0.5% $712,800 11% $771,625

-10% -11% -12%

$547

$612

-11%

$621

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$712,800 $712,300 $696,300 $687,100 $656,800 $644,300 $644,900

BURNABY EAST

REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD QD QD

S-L RATIO SALES INVENTORY

CONDO - AUGUST 2019 burnaby east

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 10 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

14 % DOWN

8 % DOWN

40 % UP

43 % UP

SELLER’S 29 %

The number of condo listings in Burnaby East in August was unchanged month-over-month (at 35) and jumped 40% year-over-year. At 10, condo sales were 7 higher month-over-month and 3 above August 2018. The sales-to-listings ratio increased to 29% in August as Burnaby East’s condo market favoured seller’s. The condo benchmark price in August was $700,700, 3% below last month and 10% lower year-over-year. The average sold price for condos decreased 2% month-over-month (to $510,826) while the average PSF sales price fell 3% (to $682).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

35 10

0.0% 233% 233%

40% 43%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

29%

28%

$700,700 $721,200 $510,826 $522,333

-3% $782,800 -2% $596,643

-10% -14%

$682

$701

-3%

$741

-8%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$782,800 $761,400 $770,300

$718,900 $754,900 $736,100 $700,700

BURNABY EAST

REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

2 bdrms

<2 bdrms

. . . . 0 0 0 0 QD QD QD QD QD

S-L RATIO SALES INVENTORY

DETACHED - AUGUST 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 8 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

11 % DOWN

5 % DOWN

45 % UP

BALANCED 16 %

The number of detached listings in Burnaby North in August, at 199, was 14% lower month-over- month and 11% lower year-over-year. With 32 in August, detached sales were down by 7 month-over-month but 10 above last year. The sales-to-listings ratio dipped to 16%, as Burnaby North’s detached market remained balanced. The benchmark price in August was $1.38M, virtually unchanged from July 2019 and 8% lower than in August 2018. The average sold price was $1.67M, up 10% from the previous month but 5% below August 2018.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 232

% Change

No. 223

% Change

TOTAL LISTINGS

199

-14% -18%

-11% 45% 63%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

16%

17%

-4%

10%

$1,375,500 $1,373,400 0.2% $1,501,200

-8% -5%

$1,668,303 $1,512,362

10% $1,749,432

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.50

$1.49

$1.45

$1.40

$1.39

$1.38

2.31

2.29

2.25

1.96

1.91

1.90

239

233

225

223

199

187

171

Aug-18

Jul-19

Aug-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

. . . 0 0 0 0 0 QD QD QD S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET

TOWNHOME - AUGUST 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE 3 % UP

BENCHMARK PRICE 6 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

10 % DOWN

7 % UP

120 % UP

SELLER’S 36 %

The number of townhome listings in Burnaby North decreased 19% from last month, settling at 61, but was 7% above August 2018. Townhome sales, at 22, were up by 5 vs last month and 12 above August 2018. The sales-to-listings ratio increased to 36% in August, as Burnaby North’s townhome segment remained a seller’s market. The benchmark price in August was $721,500, 0.2% below July and 6% lower vs August 2018. The average sold price was $652,364 in August, (decreasing 4% vs July) while the average PSF sales price was $525 (decreasing 1.7%).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

61 22

75 17

-19% 29% 59%

57 10

TOTAL SALES

120% 106%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

36%

23%

18%

$721,500 $723,100 $652,364 $680,729

-0.2% $766,200 -4% $721,020 -1.7% $511

-6%

-10%

$525

$534

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$766,200 $761,100 $724,400 $715,300 $709,200 $725,500 $721,500

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

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD

S-L RATIO SALES INVENTORY

CONDO - AUGUST 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 8 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

0.8 % UP

1.4 % DOWN

35 % UP

57 % UP

SELLER’S 26 %

There were 281 condo listings in Burnaby North in August, 10% below July but 35% higher than in August 2018. August condo sales increased by 1.4% month-over- month and 57% year-over-year. The sales-to-listings ratio for condos in Burnaby North increased to 26%, remaining a seller’s market. The condo benchmark price in August was $601,700, 1.3% below July and 8% lower than in August 2018. The average sold price was $600,550, up 6% from last month; the average PSF sales price was $715, up 2% from last month.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 311

% Change

No. 208

% Change

TOTAL LISTINGS

281

-10% 1.4% 12%

35% 57% 17% -8% 0.8% -1.4%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

26%

23%

$601,700 $609,500 $600,550 $568,762

-1.3% $650,900 6% $595,657

$715

$701

$725

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$650,900 $631,200 $619,100 $599,900 $611,800 $607,800 $601,700

331

316

281

254

229

208

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+ bdrms

BUYER'S MARKET

2 bdrms

196

<2 bdrms

. . . . 0 0 0 0 QD QD QD

S-L RATIO SALES INVENTORY

DETACHED - AUGUST 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 9 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

8 % UP

18 % DOWN

58 % UP

BUYER’S 9 %

There were 210 detached listings in the Burnaby South market area in August, 5% below last month and 18% lower vs August 2018. Detached sales fell by 13, to 19, between July and August, but were 5 higher year-over-year. The sales-to-listings ratio decreased to 9%, as Burnaby South’s detached market transitioned to buyer’s market territory. The benchmark price in August was $1.47M, 0.6% below the previous month and a 9% decline vs last year. The average sold price for detached homes was $1.90M, 15% higher month-over-month and 8% above August of last year.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 220

% Change

No. 257

% Change

TOTAL LISTINGS

210

-5%

-18% 58% 94%

TOTAL SALES

19 9%

-41% -38%

12 5%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

15%

$1,467,900 $1,477,300 -0.6% $1,621,000

-9%

$1,903,206 $1,654,781

15% $1,765,238

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.63

$1.62

$1.57

$1.54

$1.53

$1.50

$1.47

2.26

1.94

1.93

1.91

257

244

242

222

210

192

177

Aug-18

Jul-19

Aug-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

. . . 0 0 0 0 0 QD QD QD S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET

TOWNHOME - AUGUST 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 9 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

8 % DOWN

6 % DOWN

45 % UP

109 % UP

SELLER’S 24 %

Townhome listings in the Burnaby South market area in August (at 96) were down 3% from last month but 45% above last year. The 23 townhome sales were 1 above July and 12 more than in August 2018. The sales-to-listings ratio increased to 24%, as Burnaby South’s townhome segment transitioned to a seller’s market. The benchmark price in August was $767,000, 0.8% above July but 9% lower year-over-year. The average sold price was $813,743 (up 13% from July) with an average PSF sales price of $574 (1.8% above July).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

96 23

99 22

-3%

66 11

45%

TOTAL SALES

5% 8%

109%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

24%

22%

17%

44% -9% -6% -8%

$767,000 $760,600 $813,743 $718,011

0.8% $841,600 13% $866,218

$574

$564

1.8%

$626

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$841,600 $811,100 $790,800 $807,300 $768,100 $762,600 $767,000

113

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

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD

S-L RATIO SALES INVENTORY

CONDO - AUGUST 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 10 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

0.5 % DOWN

3 % DOWN

46 % UP

18 % UP

BALANCED 19 %

The number of condo listings in Burnaby South, at 415, decreased 4% month-over-month but jumped 46% vs last year. August’s condo sales, at 77, were 13% below last month but 18% higher than last year. The sales-to-listings ratio dipped to 19% in August, as Burnaby South’s condo segment remained in balanced market territory. The condo benchmark price in August was $648,500, 0.8% below July and a 10% decrease from August 2018. The average sold price was $637,008 (3% lower than in July) with an average PSF sales price of $763 (0.5% above July).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 431

% Change

No. 284

% Change

TOTAL LISTINGS

415

-4%

46% 18% -19% -10% -0.5%

TOTAL SALES

-13%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

19%

20%

-9%

23%

$648,500 $653,500 $637,008 $654,405

-0.8% $717,800 -3% $640,438

$763

$759

0.5%

$787

-3%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$717,800 $701,400 $685,700 $689,400 $679,200 $666,200 $648,500

457

433

415

367

348

315

284

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

3+ bdrms

BUYER'S MARKET

2 bdrms

270

<2 bdrms

. . . . 0 0 0 0 QD QD QD

103

S-L RATIO SALES INVENTORY

coquitlam

DETACHED - AUGUST 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 11 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

10 % DOWN

13 % DOWN

32 % UP

BALANCED 16 %

The number of detached listings in Coquitlam fell to 497 in August, 10% below July and 13% lower year-over-year. The 78 detached sales in August represented a decrease of 9% from July but a 32% jump vs August of last year. Coquitlam’s sales-to-listings ratio was unchanged at 16% as the detached segment remained in balanced market territory. The benchmark price in August was $1.16M, 1.0% below July and an 11% decrease year-over-year. The average sold price was $1.23M in August, down 1.9% from July and 10% below August 2018.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 554

% Change

No. 573

% Change

TOTAL LISTINGS

497

-10%

-13% 32% 52%

TOTAL SALES

-9%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

16%

10%

$1,157,100 $1,169,300 -1.0% $1,305,300 -11% $1,227,964 $1,251,560 -1.9% $1,361,350 -10%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.31

$1.25

$1.21

$1.18

$1.17

$1.16

2.36

2.26

2.21

573

585

557

532

1.89

497

1.79

1.78

447

386

Aug-18

Jul-19

Aug-19

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

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the rennie review - September 2019