the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION
published June 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
Fraser Valley Board Area
Andrew Ramlo VP Intelligence aramlo@rennie.com
Ryan Berlin Senior Economist rberlin@rennie.com
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 January 6, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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
resilience and green shoots the hallmarks of May’s market data While one month of data does not a trend make, signs of an economic recovery have emerged against the backdrop of a regional housing market that remains balanced.
Labour market green shoots: have we reached the bottom? After Canada shed 3 million jobs inMarch and April--by far the most ever lost in a two-month period--almost 300,000 jobs were added in May, surprising many market analysts. British Columbia added just over 43,000 positions, and whileMetro Vancouver lost 8,500 jobs inMay--marking its third consecutive month of losses--the magnitude of decline paled in comparison to the almost 260,000 jobs lost in March and April. Encouragingly, the employment surge in BC was driven by positions that had been hit hardest at the outset of our Great Suppression, with younger workers and jobs in retail, accommodation, and food services leading the way, with all of the growth seen in full-time work. We are cautiously optimistic about our path ahead as British Columbia enters Phase 2 of its re-opening plan. Look for additional modest employment gains in June across BC- -includingMetro Vancouver for the first time in months--along with continued increases in home sales.
inMay, meaning that 2,265 households made a significant financial commitment during the worst economic downturn we’ve experienced in almost a century. That is somewhat remarkable. Furthermore, May’s sales count was significantly higher than in April, with transactions jumping by 28% on a month-over- month basis, compared to the past-decade April-to-May sales bump of 6%. On the supply side of the market, inventory has become increasingly constrained, with May representing the 8th straight month of year-over-year declines in total listings. Compare this to the lead-up to the 2008/9 Great Recession and its aftermath, when our market saw inventory expand for 15 consecutive months. Prices have consequently remained stable throughMay, with the region’s benchmark price down 0.1%, and the average price up 1.2%, versus April.
To say the past fewmonths have been challenging would be an understatement. We have all been impacted by COVID-19, directly or indirectly, and more or less, at home, in the workplace, and in our communities. Collectively we have been dealing with much uncertainty while trying to synthesize a dizzying amount of information aimed at keeping us safe, secure, and solvent. Against this backdrop, it was welcome news to observe a number of positive storylines emerging out of May’s data on our real estate market and our economy. Our housing market has been resilient and remains balanced It’s true that MLS sales across the Vancouver Region inMay were down 44% versus one year earlier, with reduced market activity that set in at the end of March continuing to prevail. But having said that, we would be remiss to not acknowledge that there were still 2,265 sales
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 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
House $5,690,000 | POINT GREY 4385 Locarno Crescent 4 Bed, 3,333 SF Salina Kai PREC* 604.773.7013
Bauhinia $3,298,000 | COAL HARBOUR 1902-535 Nicola Street 3 Bed, 1,386 SF Sam Abadian PREC* 604.290.1690
House $2,980,000 | SHAUGHNESSY 4288 Granville Street 7 Bed, 5,166 SF Ester Hsieh 778.552.4921
House
Townhome
The Grace
$1,848,000 | NORTH VAN
$1,599,900 | NORTH VAN 208-1055 Ridgewood Drive 3 Bed, 1,456 SF
$1,448,000 | YALETOWN 602-1280 Richards Street 2 Bed, 1,344 SF
4146 Beaufort Place 4 Bed, 3,234 SF Alice Ristak PREC* 604.809.7218
Jenna Van Alstine 778.558.3355
Deanna Lythgo PREC* 778.840.3170
Townhome
The Hudson
The Opsal
$1,349,000 | MT. PLEASANT
$949,000 | DOWNTOWN 601-610 Granville Street 1 Bed, 864 SF
$888,800 | FALSE CREEK 703-1775 Quebec Street 2 Bed, 835 SF
109-453 E 16th Avenue 3 Bed, 1,312 SF
Derek Kai PREC* 604.868.1666
Matt Stone 604.782.2614
Brandan Price PREC* 604.765.9555
House
The Dawson
Woodward’s
$805,000 | LANGLEY
$749,000 | BURNABY 410-4468 Dawson Street 2 Bed, 958 SF
$639,000 | GASTOWN 704-128 W Cordova Street 1 Bed, 655 SF
21588 95 Avenue 3 Bed, 1,286 SF
Lorenzo Daminato PREC* 604.657.8121
Karim Kamrani 604.789.6461
Disa Lim 604.880.8604
Stirling Place
Somerset Green $589,000 | NORTH VAN
The Paris Block $499,900 | GASTOWN 302-53 W Hastings Street 1 Bed, 567 SF
$614,900 | NEW WEST 202-719 Princess Street 2 Bed, 1,273 SF
411-121 W 29th Street 2 Bed, 1,105 SF
Natasha Ramos 604.767.2398
Sora Chung 604.809.5162
Danny Chow PREC* 604.765.2469
Viceroy $499,888 | NEW WEST 205-619 Fifth Avenue 1 Bed, 680 SF Disa Lim 604.880.8604
Spuraway Gardens $468,000 | WEST VAN 1257-235 Keith Road 1 Bed, 740 SF Mike Ross 778.987.8874
Bloomsbury Court $465,000 | SURREY 410-10092 148 Street 2 Bed, 984 SF Brigitta Kreiner 778.892.4447
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 June 4, 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 MAY vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 0.9 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
36 % DOWN
42 % DOWN
3 % UP
-
BALANCED 13 %
The number of detached listings in the Vancouver Region in May, at 7,036, were 3% higher month- over-month and 36% lower year-over-year. With 892 in May, detached sales were 30% above last month but 42% lower vs last year. The sales-to-listings ratio increased to 13%, as the Vancouver Region’s detached market transitioned to a balanced market. The benchmark price in May was $1.25M, relatively unchanged from April and 3% above May 2019. The average sold price was $1.37M, relatively unchanged from the previous month and 0.9% above May 2019.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
7,036
6,860
3%
11,015 1,534
-36% -42%
TOTAL SALES
892 13%
688 10%
30% 26%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
14%
-9%
$1,252,000 $1,250,500 0.1% $1,217,000
3%
$1,371,851 $1,374,983 -0.2% $1,359,006 0.9%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.25
$1.25
$1.23
$1.22
$1.22
$1.21
$1.21
1.83
1.82
1.80
11,015
10,914 10,254
8,654
1.05
1.04
1.04
7,195
7,036
6,660
1,534
1,498
1,483
1,406
1,340
892
843
May-19
Apr-20
May-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 June 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
TOWNHOME MAY vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 1.8 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
1.9 % UP
41 % DOWN
5 % UP
36 % DOWN
SELLER’S 21 %
The number of townhome listings in the Vancouver Region increased 0.9% from last month, settling at 2,328, but were 36% belowMay 2019. Townhome sales, at 486, were 24% higher vs last month but 41% belowMay 2019. The sales-to-listings ratio jumped to 21% in May, as the Vancouver Region’s townhome segment transi- tioned to a seller’s market. The benchmark price in May was relatively unchanged vs April, at $686,500, and was 1.8% higher year-over-year. The average sold price was $715,970 in May, (increasing 2% vs April) while the average PSF sales price was $491 (increasing 5%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
2,328
2,307
0.9% 24% 23%
3,619
-36% -41% 1.8% 1.9% -8%
TOTAL SALES
486 21%
393 17%
818 23%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$686,500 $684,500 $715,970 $701,017
0.3% $674,500 2% $702,418
$491
$469
5%
$468
5%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$674,500 $664,700 $669,500 $667,000 $673,500 $683,100 $686,500
3,683
3,619
3,431
2,755
2,393
2,328
2,071
818
792
786
749
673
511
486
VANCOUVR REGION REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
93
4+ bdrms
BUYER'S MARKET
458
263
3 bdrms
1,227
130
<3 bdrms
. . . . 0 0 0 0
643
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 June 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
vancouver region
CONDO MAY
AVERAGE PRICE
AVERAGE PSF PRICE 5 % UP
BENCHMARK PRICE 2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
48 % DOWN
5 % UP
26 % DOWN
BALANCED 14 %
There were 5,862 condo listings in the Vancouver Region in May, 3% above April but 26% lower vs May 2019. May condo sales increased by 29% month-over- month but were 48% belowMay 2019. The sales-to-listings ratio for condos in the Vancouver Region increased to 14%, remaining a balanced market. The condo benchmark price in May was $657,300, dropping 0.5% from April but 2% higher vs May 2019. The average sold price was $615,635, 3% above last month; the average PSF sales price was $724, up 3% from last month.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
5,862
5,667
3%
7,963 1,637
-26% -48% -30%
TOTAL SALES
847 14%
657 12%
29% 25%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
21%
$657,300 $660,500 $615,635 $599,263
-0.5% $642,500 3% $585,706
2% 5% 5%
$724
$703
3%
$687
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$642,500 $641,900 $638,800 $628,500 $647,900 $671,600 $657,300
7,963
7,640
7,172
5,771
5,871
5,862
4,704
1,637
1,592
1,586
1,528
1,513
1,060
847
VANCOUVR REGION REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
39
3+ bdrms
BUYER'S MARKET
610
459
2 bdrms
3,432
349
<2 bdrms
. . . . 0 0 0 0
1,820
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 June 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 MAY greater vancouver board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
0.3 % UP
39 % DOWN
40 % DOWN
-
BALANCED 13 %
Detached listings in the REBGV decreased to 4,177 in May, 0.8% above April but 39% lower vs May 2019. Detached sales, at 544, increased 39% compared to April but were 40% lower vs May 2019. The sales-to-listings ratio increased to 13%, as the REBGV detached market transitioned to a balanced market. The detached benchmark price in May was $1.46M, relatively unchanged month-over-month and a 3% increase year-over-year. The average sold price was $1.59M, down 0.5% from the previous month and relatively unchanged year-over-year.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
4,177
4,143
0.8% 39% 38%
6,829
-39% -40%
TOTAL SALES
544 13%
392
914 13%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
9%
-3%
$1,456,700 $1,452,300 0.3% $1,415,500
3%
$1,586,673 $1,594,643 -0.5% $1,582,694 0.3%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.46
$1.44
$1.42
$1.42
$1.41
$1.41
$1.40
1.84
1.84
1.82
6,829
6,654
6,212
5,294
1.17
1.15
1.15
4,389
4,177
4,176
914
860
851
832
752
544
442
May-19
Apr-20
May-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 June 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
greater vancouver board area
TOWNHOME MAY
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 1.8 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
38 % DOWN
36 % DOWN
0.2 % DOWN
4 % UP
BALANCED 20 %
The number of townhome listings in the REBGV fell to 1,298 in May, 1.6% below April and 38% lower year-over-year. Townhome sales in May, at 263, were up 36% vs April but 36% below last year. The sales-to-listings ratio increased to 20% as the REBGV townhome market remained balanced. The townhome benchmark price in May was $792,700, relatively unchanged from April and 1.8% higher than in May 2019. The average sold price was $828,185, with an average PSF sales price of $592 (up 1.1% and 3%, respectively, vs April).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,298
1,319
-1.6% 2,090
-38% -36%
TOTAL SALES
263 20%
193 15%
36% 38%
412 20%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
3%
$792,700 $791,200 $828,185 $818,950
0.2% $778,700 1.1% $830,082
1.8% -0.2%
$592
$572
3%
$567
4%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$778,700 $769,000 $770,000 $771,500 $781,800 $790,200 $792,700
2,108
2,090
1,948
1,576
1,367 1,298
1,177
412
409
404
397
355
271
263
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
45
4+ bdrms
BUYER'S MARKET
226
149
3 bdrms
701
69
<3 bdrms
. . . . 0 0 0 0
371
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 June 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
greater vancouver board area
CONDO MAY
AVERAGE PRICE
AVERAGE PSF PRICE 5 % UP
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
47 % DOWN
5 % UP
29 % DOWN
BALANCED 15 %
The number of condo listings in the REBGV decreased to 4,392 in May, 4% above April but 29% belowMay 2019. At 656, condo sales were 29% higher month-over- month but 47% lower year-over-year. The sales-to-listings ratio increased to 15%, as the REBGV condo market remained balanced. The condo benchmark price in May was $686,500, relatively unchanged from April and up 3% com- pared to May 2019. The average sold price was $678,495 (increasing 3% from April) with an average PSF sales price of $801 (3% higher vs April).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
4,392
4,241
4%
6,204 1,242
-29% -47% -25%
TOTAL SALES
656 15%
507 12%
29% 25%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
20%
$686,500 $688,800 $678,495 $661,303
-0.3% $666,800 3% $646,285
3% 5% 5%
$801
$777
3%
$763
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$666,800 $655,300 $654,000 $654,000 $666,000 $690,000 $686,500
6,204
5,963
5,591
4,491
4,392
4,344
3,598
1,242
1,243
1,219
1,182
1,167
814
656
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
35
3+ bdrms
BUYER'S MARKET
523
323
2 bdrms
2,461
298
<2 bdrms
. . . . 0 0 0 0
1,408
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 June 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 MAY burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 5 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
58 % DOWN
52 % DOWN
2 % UP
-
BALANCED 15 %
The number of detached listings in Burnaby North in May, at 104, were 3% higher month-over-month but 58% lower year-over-year. With 16 in May, detached sales were 2 above last month but 17 lower vs last year. The sales-to-listings ratio increased to 15%, as Burnaby North’s detached market remained balanced. The benchmark price in May was $1.47M, relatively unchanged from April and 5% above May 2019. The average sold price was $1.46M, down 1.2% from the previous month but 2% above May 2019.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 101
% Change
No. 248
% Change
TOTAL LISTINGS
104
3%
-58% -52% 16%
TOTAL SALES
16
14
14% 11%
33
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
15%
14%
13%
$1,472,700 $1,469,600 0.2% $1,407,600 $1,462,199 $1,480,464 -1.2% $1,428,875
5% 2%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.47
$1.45
$1.42
$1.41
$1.38
$1.37
$1.35
2.05
2.02
1.93
248
239
201
1.19
1.18
1.15
154
111
110
104
39
33
33
31
27
24
16
May-19
Apr-20
May-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 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 June 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 MAY burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
7 % DOWN
13 % DOWN
1.5 % DOWN
41 % DOWN
0.0 %
SELLER’S 32 %
The number of townhome listings in Burnaby North declined 16% from last month, settling at 47, and were 41% belowMay 2019. Townhome sales, at 15, were 11 higher than last month and unchanged fromMay 2019. The sales-to-listings ratio jumped to 32% in May, as Burnaby North’s townhome segment transitioned to a seller’s market. The benchmark price in May was down 1.2% month- over-month, at $719,300, and was 1.5% belowMay 2019. The average sold price was $673,867 in May, (decreasing 8% vs April) while the average PSF sales price was $486 (decreasing 0.8%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
47 15
56
-16% 275% 347%
80 15
-41% 0.0% 70% -1.5%
TOTAL SALES
4
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
32%
7%
19%
$719,300 $727,900 $673,867 $729,500
-1.2% $730,300 -8% $725,733 -0.8% $558
-7%
$486
$490
-13%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$730,300 $723,100 $729,500 $728,500 $720,400 $728,200 $719,300
80
75
68
65
47
46
36
19
18
17
15
15
14
13
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
4+ bdrms
BUYER'S MARKET
3
6
3 bdrms
24
5
<3 bdrms
. . . . 0 0 0 0 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 June 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 MAY burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE 8 % UP
BENCHMARK PRICE 1.4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
33 % DOWN
7 % DOWN
25 % DOWN
BALANCED 20 %
There were 242 condo listings in Burnaby North in May, 7% below April and 25% lower vs May 2019. May condo sales increased by 29 month-over-month but were 24 belowMay 2019. The sales-to-listings ratio for condos in Burnaby North increased to 20%, transitioning to a balanced market. The condo benchmark price in May was $623,500, a 0.8% increase from April and 1.4% above May 2019. The average sold price was $546,856, 5% below last month; the average PSF sales price was $720, up 5% from last month.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 259
% Change
No. 324
% Change
TOTAL LISTINGS
242
-7%
-25% -33% -11% 1.4%
TOTAL SALES
48
19 7%
153% 170%
72
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
20%
22%
$623,500 $618,600 $546,856 $577,184
0.8% $615,100 -5% $584,988
-7%
$720
$688
5%
$669
8%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$615,100 $609,500 $591,400 $595,900 $606,900 $616,300 $623,500
324
316
309
250
242
219
177
86
84
73
72
71
55
48
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
19
25
2 bdrms
166
21
<2 bdrms
. . . . 0 0 0 0 QD QD QD QD
57
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 June 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
DETACHED MAY burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 1.4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
43 % DOWN
22 % DOWN
8 % DOWN
-
BALANCED 13 %
There were 137 detached listings in the Burnaby South market area in May, 2% below last month and 43% lower vs May 2019. Detached sales increased by 10 month-over-month, to 18, but fell by 5 year-over-year. The sales-to-listings ratio increased to 13%, as Burnaby South’s detached market transitioned to a balanced market. The benchmark price in May was $1.53M, 1.8% above the previous month and a 1.4% increase vs last year. The average sold price for detached homes was $1.51M, 5% lower month-over-month and 8% lower year-over-year.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 140
% Change
No. 242
% Change
TOTAL LISTINGS
137
-2%
-43% -22% 38%
TOTAL SALES
18
8
125% 130%
23
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
13%
6%
10%
$1,529,000 $1,501,900 1.8% $1,508,100 1.4%
$1,509,167 $1,586,816
-5% $1,643,219
-8%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.53
$1.51
$1.49
$1.49
$1.49
$1.48
$1.46
1.98
1.93
1.92
242
225
224
1.16
1.16
178
1.14
143
140
137
40
32
32
23
23
18
14
May-19
Apr-20
May-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 June 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
TOWNHOME MAY burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE 4 % UP
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
9 % UP
57 % DOWN
59 % DOWN
1.0 % DOWN
BALANCED 20 %
Townhome listings in the Burnaby South market area in May (at 44) were up 5% from last month but 57% below last year. The 9 townhome sales were 3 lower month-over- month and 13 belowMay 2019. The sales-to-listings ratio dropped to 20%, as Burnaby South’s townhome market transitioned to a balanced market. The benchmark price in May was $773,400, 1.0% lower month-over-month and year-over-year. The average sold price was $779,544 (relatively unchanged from April) with an average PSF sales price of $634 (up 21% vs April).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No. 102
% Change
TOTAL LISTINGS
44
42 12
5%
-57% -59%
TOTAL SALES
9
-25% -28%
22
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
20%
29%
22%
-5%
$773,400 $780,900 $779,544 $779,500
-1.0% $781,500 0.0% $715,891
-1.0%
9% 4%
$634
$524
21%
$607
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$781,500 $760,600 $757,100 $769,600 $767,800 $768,700 $773,400
104
102
93
68
52
46
44
22
22
17
14
13
9
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
4+ bdrms
BUYER'S MARKET
3
5
3 bdrms
23
4
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD
18
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 June 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
CONDO MAY burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 0.4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
5 % DOWN
48 % DOWN
55 % DOWN
0.1 % UP
BALANCED 15 %
The number of condo listings in Burnaby South, at 241, decreased 7% month-over-month and fell 48% vs last year. May’s condo sales, at 35, were 6% above last month but 55% lower than last year. The sales-to-listings ratio increased to 15% in May, as Burnaby South’s condo segment remained a bal- anced market. The condo benchmark price in May was $678,900 up 0.9% from April and relatively unchanged vs May 2019. The average sold price was $642,757 with an average PSF sales price of $737 (relatively unchanged and 6% lower, respectively, vs April).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 260
% Change
No. 460
% Change
TOTAL LISTINGS
241
-7%
-48% -55% -13% 0.4% 0.1%
TOTAL SALES
35
33
6%
77
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
15%
13%
14%
17%
$678,900 $672,700 $642,757 $643,554
0.9% $676,400 -0.1% $642,401
$737
$780
-6%
$774
-5%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$676,400 $653,500 $654,500 $647,300 $662,000 $674,200 $678,900
460
435
425
334
268
258
241
110
88
88
77
73
62
35
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
3+ bdrms
BUYER'S MARKET
27
20
2 bdrms
160
13
<2 bdrms
. . . . 0 0 0 0 QD QD
54
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 June 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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