the rennie review DATA DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR SUB MARKETS IN THE VANCOUVER REGION
published July 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 08 11 14 17 20 23 26 29 32 35 38 41 44
Vancouver Region
Greater Vancouver Board Area
Burnaby North Burnaby South
Coquitlam
Ryan Berlin DIRECTOR OF INTELLIGENCE & SENIOR ECONOMIST rberlin@rennie.com
Bowen Behan Pausey DATA ANALYST bbehan@rennie.com
Fraser Valley Board Area
Langley
North Vancouver
Richmond Squamish
Surrey
Vancouver East Vancouver West West Vancouver
46 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 July 3, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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. 2
buyers come out in droves in June After bottoming out in April, housing demand gained momentum in May and then surged in June, with this past month registering the most sales of any month since October 2019. The market favours sellers, as supply remains constrained.
valued at less than $1 million--spurred buying activity before the rule change. While this may be true for some purchasers, the 69% share of total sales being under $1 million is lower than the 72% of sales over the prior 12 months being under this value threshold. And while the 81% increase in homes sold under $1 million betweenMay and June is higher than the 76% increase in homes sold for $1 million or more, the difference is not significant, with the market demand rising sharply at both ends of the price spectrum. With inventory still constrained--regionally, the 17,298 total listings in June were down 23% year-over-year and 26% versus the long- run June average, despite rising by 8% above May’s level--and the national, provincial, and regional economy carefully re-booting, conditions are likely to remain favourable to sellers in the months ahead as previously pent- up demand continues to re-emerge.
May, and the 1,615 sales South of the Fraser (covering the Fraser Valley board area) up 111%. Notably, regional sales counts for each of detached homes, townhomes, and condos were all similarly higher in June versus May, ranging tightly from a 78% increase for townhomes to 80% for detached homes. Within the region, the fastest month-over- month growth was in South of the Fraser condos, which jumped 113% betweenMay and June, with South of the Fraser detached home and townhome sales more than doubling as well, rising by 112% and by 102%, respectively. With 69% of June’s home sales occurring at under $1 million, one could be forgiven for thinking that the changes CMHC instituted on July 1st--making it more difficult for some borrowers to obtain mortgage default insurance, which is only available for homes
June was a strong month for Vancouver’s real estate market, with the region tallying 4,067 MLS sales; this was the highest monthly count in 2020 so far, and the most sales since October 2019’s 4,361. June’s total sales count was also 80% higher--that’s not a typo--than the 2,264 sales registered inMay (which in turn were 27% higher than the 2020 low of 1,776 sales in April). At a high level it appears evident that buyers in this market are confident about both the near-term and longer-term prospects of Vancouver real estate, despite the acute challenges still facing our economy as a result of the ongoing health crisis. Within the Vancouver region as a whole, both the North of the Fraser and South of the Fraser sub-markets experienced significant month- over-month surges in sales in June, with the 2,452 sales North of the Fraser (covering the Greater Vancouver board area) up 64% over
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 July 3, 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. 3
featured listings SEARCH FOR THE HOME YOU LOVE AT RENNIE.COM
Hotel Georgia $3,990,000 | DOWNTOWN 3904-667 Howe Street 2 Bed, 2,203 SF Danny Chow PREC* 604.765.2469
Elenore $2,680,000 | MT. PLEASANT 805-210 E 5th Avenue 3 Bed, 1,691 SF Jenna Van Alstine 778.558.3355
Crystallis $1,968,000 | WEST END 1904-1020 Harwood Street 3 Bed, 1,681 SF Janette Fricker PREC* 604.787.2862
The Village
House
House
$1,739,000 | FALSE CREEK 704-77 Walter Hardwick Avenue 2 Bed, 1,292 SF
$1,699,000 | SOUTH VAN
$1,689,000 | VAN EAST 3732 Ontario Street 6 Bed, 2,240 SF Brandan Price PREC* 604.765.9555
6119 Main Street 6 Bed, 2,062 SF Simon Lai PREC* 778.881.3603
Brandan Price PREC* 604.765.9555
Brava
Aviara
Woodward’s
$1,598,000 | DOWNTOWN Ph3304-1199 Seymour Street 1 Bed, 1,136 SF Christopher Boyd PREC* 604.351.0533
$1,475,000 | BURNABY 3705-4189 Halifax Street 3 Bed, 1,245 SF Reggie Tanzola PREC* 778.917.6889
$1,399,000 | GASTOWN 2310-128 W Cordova Street 2 Bed, 1,155 SF
Charlie Kim PREC* 604.767.1531
House
House
House
$968,000 | LADNER
$1,279,900 | PORT COQUITLAM
$899,000 | DELTA 8875 Mitchell Way 5 Bed, 2,733 SF
2673 Klassen Court 6 Bed, 3,621 SF Artyom Seroff PREC* 778.223.0033
5240 Chamberlayne Avenue 4 Bed, 1,814 SF
Paul Wong 604.716.0483
Joanne Hoekstra 604.722.6645
Century
Maynard’s Block $719,900 | FALSE CREEK 208-445 W 2nd Avenue 1 Bed, 750 SF
The Columbia
Orizon $559,000 | NORTH VAN 214-221 E 3rd Street 1 Bed, 619 SF Brandon Blue PREC* 604.999.7792 $789,000 | VAN EAST 403-4550 Fraser Street 2 Bed, 858 SF Janette Fricker PREC* 604.787.2862
$689,000 | NEW WEST 209-258 Nelson’s Court 2 Bed, 905 SF
Derek Kai PREC* 604.868.1666
Matthew Lee 778.882.2673
The Columbia $509,900 | NEW WEST 909-258 Nelson’s Court 1 Bed, 595 SF Reggie Tanzola PREC* 778.917.6889
Aspen Green $499,900 | VAN EAST 207-3365 E 4th Avenue 2 Bed, 877 SF
Vivien Ma PREC* 604.828.2268
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 July 3, 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 JUNE vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
21 % UP
6 % UP
-
32 % DOWN
SELLER’S 21 %
The number of detached listings in the Vancouver Region in June, at 7,545, were 5% higher month- over-month and 32% lower year-over-year. With 1,608 in June, detached sales were 80% above last month and 21% higher vs last year. The sales-to-listings ratio increased to 21%, as the Vancouver Region’s detached market remained a balanced market. The benchmark price in June was $1.26M, 0.5% up fromMay and 4% above June 2019. The average sold price was $1.38M, 0.7% above the previous month and 6% above June 2019.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
7,545 1,608
7,217
5%
11,136 1,328
-32% 21% 79%
TOTAL SALES
891 12%
80% 73%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
21%
12%
$1,258,100 $1,252,000 0.5% $1,214,000 $1,381,807 $1,371,756 0.7% $1,308,021
4% 6%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.26
$1.25
$1.23
$1.21
$1.21
$1.21
$1.21
1.83
1.82
1.80
11,136
10,477
9,485
1.06
1.05
1.04
7,545
6,986
7,004
6,174
1,614
1,608
1,328
1,280
1,262
1,122
688
Jun-19
May-20
Jun-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 July 3, 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
TOWNHOME JUNE vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
4 % UP
2 % UP
29 % UP
28 % DOWN
SELLER’S 32 %
The number of townhome listings in the Vancouver Region increased 12% from last month, settling at 2,690, but were 28% below June 2019. Townhome sales, at 863, were 78% higher vs last month but 79% below June 2019. The sales-to-listings ratio jumped to 32% in June, as the Vancouver Region’s townhome segment contin- ued to be a seller’s market. The benchmark price in June was up 0.3% vs May, at $688,400, and was 2% higher year-over-year. The average sold price was $713,366 in June, (decreasing 0.4% vs May) while the average PSF sales price was $482 (decreasing 1.8%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
2,690
2,411
12% 78% 59%
3,718
-28% 29% 79%
TOTAL SALES
863 32%
486 20%
667 18%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$688,400 $686,500 $713,366 $715,970
0.3% $674,000 -0.4% $684,113 -1.8% $472
2% 4% 2%
$482
$491
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$674,000 $666,000 $668,900 $669,500 $676,500 $684,500 $688,400
3,718
3,515
3,150
2,690
2,358
2,294
1,976
863
860
677
667
664
578
393
VANCOUVR REGION REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
. . . . 0 0 0 0 SELLER'S MARKET BALANCED BUYER'S MARKET S-L RATIO SALES INVENTORY
163
4+ bdrms
541
467
3 bdrms
1,436
233
<3 bdrms
713
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 July 3, 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
vancouver region
CONDO JUNE
AVERAGE PRICE
AVERAGE PSF PRICE 6 % UP
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
4 % UP
16 % DOWN
19 % UP
SELLER’S 23 %
There were 6,683 condo listings in the Vancouver Region in June, 10% above May but 16% lower vs June 2019. June condo sales increased by 79% month-over- month and were 19% above June 2019. The sales-to-listings ratio for condos in the Vancouver Region increased to 23%, reflecting a seller’s market. The condo benchmark price in June was $654,000, dropping 0.5% fromMay but 3% higher vs June 2019. The average sold price was $604,034, 1.9% below last month; the average PSF sales price was $707, down 2% from last month.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
6,683 1,514
6,094
10% 79% 63%
7,952 1,273
-16% 19% 42%
TOTAL SALES
847 14%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
23%
16%
$654,000 $657,300 $604,034 $615,594
-0.5% $633,000 -1.9% $578,195
3% 4% 6%
$707
$724
-2%
$667
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$633,000 $642,100 $639,300 $632,500 $651,000 $660,500 $654,000
7,952
7,210
6,683
6,595
5,814
5,204
4,296
1,797
1,514
1,449
1,375
1,360
1,273
657
VANCOUVER REGION REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
73
3+ bdrms
BUYER'S MARKET
668
850
2 bdrms
3,922
591
<2 bdrms
. . . . 0 0 0 0
2,093
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 July 3, 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 JUNE greater vancouver board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
7 % UP
34 % DOWN
-
15 % UP
BALANCED 19 %
Detached listings in the REBGV increased to 4,486 in June, 5% above May but 34% lower vs June 2019. Detached sales, at 873, increased 60% compared to May and were 15% higher vs June 2019. The sales-to-listings ratio increased to 19%, as the REBGV detached market remained a balanced market. The detached benchmark price in June was $1.46M, 0.5% higher month-over-month and a 4% increase year-over-year. The average sold price was $1.62M, up 2% from the previous month and 7% year-over-year.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
4,486
4,283
5%
6,833
-34% 15% 75%
TOTAL SALES
873 19%
544 13%
60% 53%
760 11%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$1,464,200 $1,456,700 0.5% $1,413,300
4% 7%
$1,619,277 $1,586,673
2% $1,510,350
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.46
$1.45
$1.43
$1.41
$1.41
$1.40
$1.40
1.85
1.84
1.83
6,833
6,335
5,777
1.18
1.16
1.15
4,486
4,301
4,222
3,850
945
873
760
711
682
603
392
Jun-19
May-20
Jun-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 July 3, 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
greater vancouver board area
TOWNHOME JUNE
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
30 % DOWN
7 % UP
4 % UP
21 % UP
SELLER’S 27 %
The number of townhome listings in the REBGV increased to 1,503 in June, 12% above May but 30% lower year-over-year. Townhome sales in June, at 412, were up 57% vs May and 21% above last year. The sales-to-listings ratio increased to 27% as the REBGV townhome market transitioned to a seller’s market. The townhome benchmark price in June was $790,800, relatively unchanged fromMay but 2% higher than in June 2019. The average sold price was $841,714, with an average PSF sales price of $597 (up 1.6% and 0.8%, respectively, vs May).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,503
1,342
12% 57% 40%
2,158
-30% 21% 73%
TOTAL SALES
412 27%
263 20%
341 16%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$790,800 $792,700 $841,714 $828,185
-0.2% $772,800 1.6% $787,525
2% 7% 4%
$597
$592
0.8%
$574
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$772,800 $772,100 $771,500 $776,200 $783,400 $791,200 $790,800
2,158
1,996
1,790
1,503
1,344
1,311
1,132
465
412
344
341
339
293
193
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
63
4+ bdrms
BUYER'S MARKET
271
242
3 bdrms
802
107
<3 bdrms
. . . . 0 0 0 0
430
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 July 3, 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
greater vancouver board area
CONDO JUNE
AVERAGE PRICE
AVERAGE PSF PRICE 6 % UP
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
6 % UP
19 % DOWN
17 % UP
SELLER’S 22 %
The number of condo listings in the REBGV decreased to 5,069 in June, 11% above May but 19% below June 2019. At 1,107, condo sales were 69% higher month-over- month and 17% higher year-over-year. The sales-to-listings ratio increased to 22%, as the REBGV condo market transitioned to a seller’s market. The condo benchmark price in June was $680,800, down 0.8% fromMay but up 4% compared to June 2019. The average sold price was $679,294 (relatively unchanged fromMay) with an average PSF sales price of $796 (0.6% lower vs May).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
5,069 1,107
4,566
11% 69% 52%
6,227
-19% 17% 44%
TOTAL SALES
656 14%
945 15%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
22%
$680,800 $686,500 $679,294 $678,441
-0.8% $657,300 0.1% $643,408 -0.6% $749
4% 6% 6%
$796
$801
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$657,300 $656,300 $654,800 $659,500 $680,300 $688,800 $680,800
6,227
5,634
5,069
5,063
4,352
3,946
3,292
1,387
1,119
1,107
1,062
1,048
945
507
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
58
3+ bdrms
BUYER'S MARKET
564
579
2 bdrms
2,841
470
<2 bdrms
. . . . 0 0 0 0
1,664
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 July 3, 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 JUNE burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 6 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
53 % DOWN
4 % UP
-
3 % UP
28 %
The number of detached listings in Burnaby North in June, at 112, were 3% higher month-over-month but 53% lower year-over-year. With 31 in June, detached sales were 15 above last month and similar to last year’s total for June (30). The sales-to-listings ratio increased to 28%, as Burnaby North’s detached market transitioned to seller’s market territory. The benchmark price in June was $1.49M, increasing 1.1% fromMay and 6% above June 2019. The average sold price was $1.60M, up 10% from the previous month and 4% above June 2019.
VS
VS
VS
VS
VS
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 109
% Change
No. 239
% Change
TOTAL LISTINGS
112
3%
-53%
TOTAL SALES
31
16
94% 89%
30
3%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
28%
15%
13%
121%
$1,488,200 $1,472,700 1.1% $1,399,800
6% 4%
$1,603,855 $1,462,199
10% $1,542,830
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.49
$1.47
$1.42
$1.40
$1.39
$1.38
$1.37
2.05
2.03
1.93
239
212
1.21
1.19
1.15
167
112
111
105
96
49
32
31
30
23
23
14
Jun-19
May-20
Jun-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 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 July 3, 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 JUNE burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE 8 % UP
BENCHMARK PRICE 1.3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
14 % UP
28 % DOWN
25 % DOWN
SELLER’S 22 %
The number of townhome listings in Burnaby North increased 12% from last month, settling at 55, but were 28% below June 2019. Townhome sales, at 12, were 3 below last month and 4 below June 2019’s total. The sales-to-listings ratio declined to 22% in June, as Burnaby North’s townhome segment remained a seller’s market. The benchmark price in June was up 2% month-over- month, at $734,600 and was 1.3% above June 2019. The average sold price was $725,750 in June, (increasing 8% vs May) while the average PSF sales price was $569 (increasing 17%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
55 12
49 15
12% -20% -29%
76 16
-28% -25% 1.3% 14% 4%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
22%
31%
21%
$734,600 $719,300 $725,750 $673,867
2% $725,500 8% $637,444
$569
$486
17%
$527
8%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$725,500 $721,500 $723,900 $725,000 $727,900 $727,900 $734,600
76
75
66
58
55
48
42
22
20
17
16
13
12
4
BURNABY NORTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
1
4+ bdrms
2
SELLER'S MARKET
BALANCED
9
3 bdrms
BUYER'S MARKET
27
2
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD
26
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 July 3, 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 JUNE burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE 7 % UP
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
3 % UP
17 % UP
0.4 % DOWN
14 % DOWN
SELLER’S 22 %
There were 285 condo listings in Burnaby North in June, 10% above May but 14% lower vs June 2019. June condo sales increased by 15 month-over-month and were 9 above June 2019. The sales-to-listings ratio for condos in Burnaby North increased to 22%, transitioning to a seller’s market. The condo benchmark price in June was $605,500, a 3% decline fromMay and 0.4% below June 2019. The average sold price was $555,305, 1.5% above last month; the average PSF sales price was $696, down 3% from last month.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 258
% Change
No. 332
% Change
TOTAL LISTINGS
285
10% 31% 19%
-14% 17% 36% -0.4%
TOTAL SALES
63
48
54
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
22%
19%
16%
$605,500 $623,500 $555,305 $546,856
-3% $607,800 1.5% $541,683
3% 7%
$696
$720
-3%
$650
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$607,800 $601,700 $590,300 $598,200 $613,000 $618,600 $605,500
332
311
285
281
274
207
148
92
74
63
63
54
54
19
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
2
BUYER'S MARKET
3+ bdrms
18
39
2 bdrms
189
22
<2 bdrms
. . . . 0 0 0 0 QD QD QD
78
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 July 3, 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
DETACHED JUNE burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
32 % DOWN
8 % DOWN
12 % DOWN
-
BALANCED 15 %
There were 165 detached listings in the Burnaby South market area in June, 18% above last month but 32% lower vs June 2019. Detached sales increased by 6 month-over-month, to 18, but fell by 2 year-over-year. The sales-to-listings ratio increased to 15%, as Burnaby South’s detached market remained a bal- anced market. The benchmark price in June was $1.56M, 2% above the previous month and a 4% increase vs last year. The average sold price for detached homes was $1.55M, 3% higher month-over-month but 12% lower year-over-year.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 140
% Change
No. 242
% Change
TOTAL LISTINGS
165
18% 33% 13%
-32% -8% 35%
TOTAL SALES
24
18
26
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
15%
13%
11%
$1,559,300 $1,529,000 $1,550,063 $1,509,167
2% $1,496,100
4%
3% $1,769,318 -12%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.56
$1.50
$1.50
$1.50
$1.48
$1.47
$1.47
1.98
1.97
1.96
242
225
206
1.18
165
1.14
1.14
147
142
127
30
26
24
21
21
19
8
Jun-19
May-20
Jun-20
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES
TOTAL INVENTORY
S L RATIO
. . . 0 0 0 0 0 QD QD QD QD QD S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET
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 July 3, 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
TOWNHOME JUNE burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE 4 % UP
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
11 % UP
60 % DOWN
50 % DOWN
BALANCED 20 %
Townhome listings in the Burnaby South market area in June (at 45) were up by 1 from last month but 60% below last year. The 9 townhome sales were unchanged month-over- month but half of the total seen in June 2019 (18). The sales-to-listings ratio remained at 20%, as Burnaby South’s townhome market continued to be a balanced market. The benchmark price in June was $790,200, 2% higher month-over-month and 4% higher year-over-year. The average sold price was $800,333 (increasing 3% fromMay) with an average PSF sales price of $628 (down 0.9% vs May).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No. 113
% Change
TOTAL LISTINGS
45
44
2%
-60% -50% 26%
TOTAL SALES
9
9
0.0%
18
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
20%
20%
-2%
16%
$790,200 $773,400 $800,333 $779,544
2% $762,600 3% $723,252
4%
11%
$628
$634
-0.9% $605
4%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$762,600 $767,000 $776,600 $763,500 $774,200 $780,900 $790,200
113
104
84
49
47
45
42
23
18
18
14
13
12
9
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
4
6
3 bdrms
21
3
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD QD
20
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 July 3, 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
CONDO JUNE burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 0.6 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
32 % DOWN
19 % DOWN
8 % UP
4 % UP
BALANCED 18 %
The number of condo listings in Burnaby South, at 309, increased 23% month-over-month but was 32% lower vs last year. June’s condo sales, at 57, were 63% above last month but 19% lower than last year. The sales-to-listings ratio increased to 18% in June, as Burnaby South’s condo segment remained a bal- anced market. The condo benchmark price in June was $670,500 down 1.2% fromMay but up 0.6% vs June 2019. The average sold price was $632,088 with an average PSF sales price of $780 (down 1.7% and up 6%, respectively, vs May).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 252
% Change
No. 457
% Change
TOTAL LISTINGS
309
23% 63% 33%
-32% -19% 20% 0.6%
TOTAL SALES
57
35
70
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
18%
14%
15%
$670,500 $678,900 $632,088 $642,757
-1.2% $666,200 -1.7% $585,997
8% 4%
$780
$737
6%
$747
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$666,200 $648,500 $645,300 $650,800 $676,400 $672,700 $670,500
457
437
389
309
267
258
229
97
87
77
70
69
57
33
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
35
33
2 bdrms
204
19
<2 bdrms
. . . . 0 0 0 0 QD QD QD
70
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 July 3, 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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