the vancouver rennie review | January 2025

DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 16 SUB-MARKETS IN THE VANCOUVER REGION the vancouver rennie review

published January 2025

table of contents

02 INTRO

Each month, we release the rennie review, a detailed look at the real estate marketplace in the Vancouver Region. This report examines the market stats by sub-market, provides updates on current rennie projects, and more.

03 WHAT YOU NEED TO KNOW

04 FEATURED LISTINGS

MARKET AREA PROFILES

05 08 11 14 17 20 23 26 29 32 35 38 41 44 47 51 52 56 58

Vancouver Region

Greater Vancouver Board Area Fraser Valley Board Area

Roman Melzer MARKET ANALYST

Ryan Wyse LEAD ANALYST & MARKET INTELLIGENCE MANAGER rwyse@rennie.com

Ryan Berlin SENIOR ECONOMIST VICE PRESIDENT, INTELLIGENCE rberlin@rennie.com

Burnaby North Burnaby South

rmelzer@rennie.com

Coquitlam

Langley

North Delta

New Westminster North Vancouver

Port Moody Richmond

Squamish

Surrey

Vancouver East

Vancouver Downtown

Vancouver West West Vancouver

Whistler

63 AREA MAPS

66 GLOSSARY

68 CURRENT PROJECTS

2 Copyright © 2025 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 13, 2025. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listings System, and 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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.

finishing the year in a different gear

Sales in the Vancouver Region were up on a year-over-year basis for the third consecutive month in December. A relatively strong finish to the year helped push total sales in 2024 above 2023 levels, and 2025 begins with sales on a new trajectory.

Though this was still 21% below the prior 10- year average of 50,774 sales, it is a clear sign that the real estate market has begun to turn the page on what has been more than two years of challenging conditions. Heading into the new year, activity should continue to improve with further interest rate declines expected in the coming months and as the effects of recent changes to mortgage rules begin to take hold. As of December 15th, buyers can put lower down payments and secure cheaper insured mortgage financing on homes priced up to $1.5 million, up from $1.0 million previously. Additionally, first-time homebuyers and all buyers of newly-built homes will be able to access amortizations of up to 30 years on insured mortgages, up from 25 years previously. Stay tuned in the coming weeks for the 2025 rennie outlook where we will provide our forecasts on everything from resales to pre-sales to housing starts (and more) in the Vancouver Region in 2025.

The Vancouver Region closed 2024 with another month of relatively strong sales activity. There were 2,684 MLS sales in December, a 28% increase from the prior December (2,097 sales) and the most for the month of December since 2021 (4,372 sales). Notably, this was the third consecutive month where sales were up quite significantly on a year-over-year basis. Sales through the first nine months of 2024 had generally been trending below 2023 levels, but there was a sharp shift in October with sales up 34% year-over-year, followed by a 29% gain in November. This trend of large double-digit percentage sales increases has not been limited to the Vancouver Region either, with both Victoria and Kelowna on a similar path since October. A number of factors have helped contribute to improving sales activity across BC in recent months, chief among them being a meaningful decrease in borrowing costs.

Between June and December, the Bank of Canada delivered a cumulative 175 basis points worth of interest rate cuts, bringing its key policy rate to 3.25% from a more than two-decade high of 5.00%. This decline, alongside easing government bond yields, has helped put downward pressure on mortgage rates, which has improved buyer purchasing power. Relatively stable home values over this period have only augmented the improvement in housing affordability conditions. Additionally, more than two years of pent-up demand and a more than decade-high in active listings helped contribute to stronger sales activity in the final months of 2024. With sales on a new trajectory to finish the year, the Vancouver Region managed to stave off a third consecutive year of declining annual sales. There were 40,173 total sales across the region in 2024, a slight increase of 0.6% relative to 39,937 sales in 2023.

3 Copyright © 2025 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 13, 2025. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listings System, and 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.

featured listings SEARCH FOR THE HOME YOU LOVE AT RENNIE.COM

AERIE, Whitby Estate $2,899,000 | WEST VAN

House for Sale

House for Sale

Lillooet Place $1,199,000 | NORTH VAN 964 Lillooet Road 3 Bed, 4 Bath, 2,012 SF Shannon Pickering 604.812.1887 $1,849,000 | NORTH VAN 1250 Cloverley Street 4 Bed, 2 Bath, 2,391 SF Caylee Sampson PREC* 604.353.2816

$4,399,000 | SURREY 13515 13a Avenue 3 Bed, 4 Bath, 4,672 SF

102 - 2575 Garden Court 2 Bed, 3 Bath, 2,831 SF

Jason Soprovich 604.817.8812

Carly Isherwood 604.360.9679

Townhome for Sale $1,289,000 | KILLARNEY 5831 Wales Street 3 Bed, 3 Bath, 1,320 SF

House for Sale

$1,748,800 | WHITE ROCK

15316 Victoria Avenue 3 Bed, 1 Bath, 1,500 SF Irene De Guzman 604.720.1996

Jason Lai PREC* 778.996.1788

Avalon Park 1 & 2 by Wesgroup $1,049,900 | SOUTH MARINE TH2 - 3566 Sawmill Crescent 3 Bed, 3 Bath, 1,219 SF

618 Carnarvon

Artworks

$994,900 | NEW WEST 3201 - 618 Carnarvon Street 2 Bed, 2 Bath, 951 SF

$985,000 | MT. PLEASANT

112 - 237 E. 4th Avenue 1 Bed, 1 Bath, 1,066 SF

Jane Chu PREC* 778.886.3303

Eric Zamora PREC* 778.389.4556

Alex Nelson 604.728.6876

New Water

ARIA 1 at Suter Brook $979,000 | PORT MOODY

2550 Garden Drive $814,900 | EAST VAN 302 - 2550 Garden Drive 1 Bed, 1 Bath, 637 SF

$858,888 | SOUTH MARINE 107 - 3133 Riverwalk Avenue 2 Bed, 2 Bath, 918 SF

1105 - 110 Brew Street 2 Bed, 2 Bath, 1,116 SF

Simon Lai PREC* 778.881.3603

Amanda Mastronardi 778.840.1860

Tyler Rodyniuk 778.987.1365

Now Developments

Moody on the Hill $799,000 | NEW WEST 207 - 232 Sixth Street 2 Bed, 2 Bath, 972 SF

Sussex

$769,900 | FRASER

$749,900 | BURNABY SOUTH

206 - 683 E. 27th Avenue 1 Bed, 1 Bath, 689 SF

1003 - 4711 Hazel Street 1 Bed, 1 Bath, 592 SF

Raven Thiara 604.817.3353

Danny Chow PREC* 604.765.2469

Juliana Wang 778.883.9979

Novo

Nordic Court

The Regent

$689,000 | BURNABY NORTH 904 - 9288 University Crescent 2 Bed, 2 Bath, 1,054 SF

$679,000 | WHISTLER 203 - 2007 Nordic Place 1 Bed, 1 Bath, 600 SF

$649,900 | CAMBIE

110 - 523 W. King Edward Avenue 1 Bed, 1 Bath, 539 SF

Ryan Wong PREC* 604.551.7966

Meg McLean PREC* 604.265.6604

Derek Kai PREC* 604.868.1666

* Personal Real Estate Corporation

Copyright © 2025 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 13, 2025. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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.

4

vancouver region DETACHED - DECEMBER 2 0 2 4

SALES TO LISTINGS RATIO 12% BUYERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 8% VS 2023

▲ 11% VS 2023

▲ 27% VS 2023

▲ 28% VS 2023

There were 7,067 detached listings in the Vancouver Region in December, 16% below November and 27% higher than December 2023. December detached home sales decreased by 21% month-over-month, to 833, and were 28% above December 2023. The sales-to-listing ratio for detached in the Vancouver Region, at 12%, reflected a buyers' market. The detached median price in December was $1,700,000, a 4% increase from November and 11% above December 2023. The average sold price was $1,975,325, 3% above last month and up 8% to December 2023.

THIS MONTH No. $1,975,325 $1,700,000 12% 833 7,067

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE

$1,827,446 $1,532,000 12% 650 5,568

8% 11% 1% 28% 27%

1,056 8,452

-21% -16%

$1,927,053 $1,637,500 12%

3% 4% -6%

▶ RATIO OF MEDIAN PRICES

▶ RECENT TRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

9,272

9,246

9,748

9,063

8,563

8,452

9,203

7,826

1.91

1.78

7,067

1.73

6,462

5,568

5,752

5,164

1.44

1.43

1.39

1,386

1,289

1,208

1,085

1,056

982

893

853

712

833

650

1,153

1,100

$1.73M $1.72M $1.70M $1.70M $1.65M $1.68M $1.65M $1.64M $1.70M

$1.60M $1.66M $1.69M

$1.53M

23-Dec

24-Nov

24-Dec

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY ● S-L RATIO

1,500

1,000

23%

500

20%

15%

15%

13%

8%

7%

4%

4%

1%

0

<$1M

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M

$6.0M+

S-L RATIO SALES INVENTORY

321 48 15%

382 88 23%

835 163 20%

1,689 246 15%

923 124 13%

825 62 8%

916 67 7%

447 20 4%

237 10 4%

492 5 1%

Copyright © 2025 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 13, 2025. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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 ●

vancouver region TOWNHOME - DECEMBER 2 0 2 4

SALES TO LISTINGS RATIO 23% SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▲ 0.1% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 1.5% VS 2023

▲ 0.4% VS 2023

▲ 47% VS 2023

▲ 45% VS 2023

There were 2,261 townhome listings in the Vancouver Region in December, 19% below November and 47% higher than December 2023. December townhome sales decreased by 14% month-over-month, to 529, and were 45% above December 2023. The sales-to-listing ratio for townhomes in the Vancouver Region, at 23%, reflected a sellers' market. The townhome median price in December was $892,000, a 4% decrease from November and 0.4% above December 2023. The average sold price was $1,003,080, 1.7% below last month; the average PSF sale price was $657, down 4% to last month.

THIS MONTH No. $657 $1,003,080 $892,000 23% 529 2,261

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$657 $988,477 $888,500 24% 364 1,543

45% 47%

$685 $1,020,640 $927,000 22% 617 2,784

-4% -1.7% -4% 6% -14% -19%

0.1% 1.5% 0.4% -0.8%

▶ AVG PRICE PER SQUARE FOOT

▶ RECENT TRENDS

● DEC 2023 ● DEC 2024

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

3,087

2,925

2,783

2,784

3,152

3,026

2,978

2,459

2,261

1,853

2,021

1,543

1,583

857

807

783

736

713

529

712

617

599

577

364

545

452

$950K

$940K

$935K

$921K

$927K

$920K

$915K

$920K

$900K

$889K

$893K

$892K

$885K

Vancouver Region

REBGV

▶ NUMBER OF BEDROOMS

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY

● SALES ● TOTAL INVENTORY ● S-L RATIO

700

107

4+ bdrms

600

568

500

285

400

3 bdrms

1,166

300

36% 34%

25%

129

200

21% 19%

2 bdrms

486

12% 13% 12%

100

0

8

<2 bdrms

<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+

41

S-L RATIO SALES INVENTORY

85 31 36%

408 139 34%

690 170 25%

439 91 21%

303 57 19%

217 26 12%

62 8 13%

57 7 12%

Copyright © 2025 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 13, 2025. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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 - DECEMBER 2 0 2 4

SALES TO LISTINGS RATIO 18% BALANCED MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▲ 0.5% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 2% VS 2023

▲ 3% VS 2023

▲ 38% VS 2023

▲ 21% VS 2023

There were 6,585 condo listings in the Vancouver Region in December, 17% below November and 38% higher than December 2023. December condo sales decreased by 17% month-over-month, to 1,210, and were 21% above December 2023. The sales-to-listing ratio for condos in the Vancouver Region, at 18%, reflected a balanced market. The condo median price in December was $650,500, a 0.1% increase from November and 3% above December 2023. The average sold price was $746,606, 3% above last month; the average PSF sale price was $862, up 0.6% to last month.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

1,210 6,585

$858 $728,625 $630,000 21% 999 4,760

0.5% 2% 3% -12% 21% 38%

1,455 7,961

0.6% 3% 0.1% 0.5% -17% -17%

$862 $746,606 $650,500 18%

$856 $726,006 $650,000 18%

▶ AVG PRICE PER SQUARE FOOT

▶ RECENT TRENDS

● DEC 2023 ● DEC 2024

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

8,251

8,732

7,961

7,736

8,525

7,106

8,004

8,000

6,585

6,039

5,458

4,760

4,853

1,878

1,783

1,795

1,567

1,517

1,210

1,618

1,645

999

1,455

1,337

1,237

1,058

$678K

$671K

$671K

$673K

$658K

$650K

$655K

$655K

$650K

$651K

$645K

$644K

$630K

Vancouver Region

REBGV

▶ NUMBER OF BEDROOMS

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY

● SALES ● TOTAL INVENTORY ● S-L RATIO

2,000

50 4

4+ bdrms

1,500

85

3 bdrms

1,000

625

25%

668

20% 17%

500

2 bdrms

13%

11%

3,620

9%

7%

4%

0

453

<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+

<2 bdrms

S-L RATIO SALES INVENTORY

1,930 479 25%

1,973 386 20%

1,195 200 17%

529 69 13%

339 25 7%

290 32 11%

112 10 9%

217 9 4%

2,290

Copyright © 2025 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 13, 2025. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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 ●

greater vancouver board area DETACHED - DECEMBER 2 0 2 4

SALES TO LISTINGS RATIO 12% BUYERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 4% VS 2023

▲ 3% VS 2023

▲ 28% VS 2023

▲ 32% VS 2023

There were 4,204 detached listings in the Greater Vancouver board area in December, 17% below November and 28% higher than December 2023. December detached home sales decreased by 23% month-over-month, to 484, and were 32% above December 2023. The sales-to-listing ratio for detached in the Greater Vancouver board area, at 12%, reflected a buyers' market. The detached median price in December was $1,850,000, a 0.1% increase from November and 3% above December 2023. The average sold price was $2,168,216, 0.1% above last month and up 4% to December 2023.

THIS MONTH No. $2,168,216 $1,850,000 12% 484 4,204

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE

$2,080,316 $1,800,000 11% 367 3,292

32% 28%

$2,166,476 $1,849,000 12% 627 5,053

0.1% 0.1% -7% -23% -17%

4% 3% 3%

▶ RATIO OF MEDIAN PRICES

▶ RECENT TRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

5,571

5,857

5,379

5,101

5,053

5,404 5,467

4,648

1.76

1.75

1.70

4,204

1.55

1.52

3,820

1.50

3,292

3,456

3,135

826

794

713

675

627

553

498

508

383

484

367

650

677

$1.97M $1.88M $1.88M

$1.92M $1.91M $1.94M $1.97M

$1.84M $1.85M $1.85M $1.85M

$1.80M $1.81M

23-Dec

24-Nov

24-Dec

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY ● S-L RATIO

800

600

400

27%

23%

17%

17%

200

11%

8%

7%

5%

4%

1%

0

<$1M

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M

$6.0M+

S-L RATIO SALES INVENTORY

204 22 11%

153 35 23%

273 73 27%

836 139 17%

547 94 17%

550 44 8%

721 48 7%

356 15 4%

182 10 5%

382 4 1%

Copyright © 2025 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 13, 2025. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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 - DECEMBER 2 0 2 4

SALES TO LISTINGS RATIO 25% SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▼ 3% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 1.3% VS 2023

▲ 35% VS 2023

▲ 60% VS 2023

▼ 0.8% VS 2023

There were 1,166 townhome listings in the Greater Vancouver board area in December, 20% below November and 35% higher than December 2023. December townhome sales decreased by 21% month-over-month, to 287, and were 60% above December 2023. The sales-to-listing ratio for townhomes in the Greater Vancouver board area, at 25%, reflected a sellers' market. The townhome median price in December was $1,068,000, a 1.3% increase from November and 1.3% above December 2023. The average sold price was $1,156,429, 0.8% above last month; the average PSF sale price was $765, down 3% to last month.

THIS MONTH No. $765 $1,156,429 $1,068,000 25% 287 1,166

PREVIOUS MONTH

PREVIOUS YEAR

No. 179 863

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

19% 60% 35%

$791 $1,147,197 $1,054,500 25% 364 1,464

-3% 0.8% 1.3% -1% -21% -20%

$792 $1,165,872 $1,054,000 21%

-3% -0.8% 1.3%

▶ AVG PRICE PER SQUARE FOOT

▶ RECENT TRENDS

● DEC 2023 ● DEC 2024

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

1,636

1,611

1,541

1,714

1,688

1,464

1,391

1,590

1,030

1,166

1,142

863

872

455

438

399

398

364

358

319

287

370

316

179

284

220

$1.09M $1.05M $1.07M

$1.07M $1.02M $1.00M

$1.05M $1.07M $1.08M $1.10M $1.09M $1.08M $1.10M

REBGV

FVREB

▶ NUMBER OF BEDROOMS

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY

● SALES ● TOTAL INVENTORY ● S-L RATIO

250

53

4+ bdrms

221

200

163

3 bdrms

150

633

41% 41%

100

26%

24%

67

21%

2 bdrms

12% 10% 13%

275

50

0

4

<2 bdrms

<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+

37

S-L RATIO SALES INVENTORY

33 8 24%

99 41 41%

197 80 41%

263 68 26%

248 51 21%

211 26 12%

59 6 10%

56 7 13%

Copyright © 2025 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 13, 2025. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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 - DECEMBER 2 0 2 4

SALES TO LISTINGS RATIO 19% BALANCED MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▲ 0.7% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 2% VS 2023

▲ 4% VS 2023

▲ 34% VS 2023

▲ 24% VS 2023

There were 4,800 condo listings in the Greater Vancouver board area in December, 18% below November and 34% higher than December 2023. December condo sales decreased by 18% month-over-month, to 896, and were 24% above December 2023. The sales-to-listing ratio for condos in the Greater Vancouver board area, at 19%, reflected a balanced market. The condo median price in December was $721,000, a 3% increase from November and 4% above December 2023. The average sold price was $819,268, 5% above last month; the average PSF sale price was $936, up 2.0% to last month.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$936 $819,268 $721,000 19% 896 4,800

$930 $800,188 $690,000 20% 721 3,595

0.7% 2% 4% -7% 24% 34%

1,099 5,837

2% 5% 3% -0.9% -18% -18%

$918 $782,231 $699,900 19%

▶ AVG PRICE PER SQUARE FOOT

▶ RECENT TRENDS

● DEC 2023 ● DEC 2024

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

6,202

6,476

6,082

5,879

5,837

6,296

5,380

5,918

4,800

4,614

4,155

3,595

3,674

1,425

1,401

1,196

1,095

1,336

896

1,249

1,210

721

1,099

1,014

943

750

$735K

$730K

$726K

$725K

$720K

$720K

$720K

$721K

$705K

$700K

$700K

$690K

$690K

REBGV

FVREB

▶ NUMBER OF BEDROOMS

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY

● SALES ● TOTAL INVENTORY ● S-L RATIO

1,400

4

4+ bdrms

1,200

47

1,000

70

800

3 bdrms

512

600

31%

22%

472

400

17%

2 bdrms

14%

11%

2,620

9%

8%

200

4%

0

350

<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+

<2 bdrms

S-L RATIO SALES INVENTORY

818 254 31%

1,440 310 22%

1,116 189 17%

497 68 14%

328 25 8%

280 31 11%

108 10 9%

213 9 4%

1,621

Copyright © 2025 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 13, 2025. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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 ●

fraser valley board area DETACHED - DECEMBER 2 0 2 4

SALES TO LISTINGS RATIO 12% BALANCED MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 14% VS 2023

▲ 16% VS 2023

▲ 26% VS 2023

▲ 23% VS 2023

There were 2,863 detached listings in the Fraser Valley board area in December, 16% below November and 26% higher than December 2023. December detached home sales decreased by 19% month-over-month, to 349, and were 23% above December 2023. The sales-to-listing ratio for detached in the Fraser Valley board area, at 12%, reflected a balanced market. The detached median price in December was $1,510,000, a 4% increase from November and 16% above December 2023. The average sold price was $1,707,821, 8% above last month and up 14% to December 2023.

THIS MONTH No. $1,707,821 $1,510,000 12% 349 2,863

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE

$1,499,520 $1,300,000 12% 283 2,276

14% 16% -2% 23% 26%

$1,577,128 $1,449,000 13% 429 3,399

-19% -16%

8% 4% -3%

▶ RATIO OF MEDIAN PRICES

▶ RECENT TRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

3,868

3,891

3,675

3,462

3,399

3,736

3,684

3,178

1.89

1.76

2,863

2,642

2,276

1.581.57

1.58

1.55

2,296

2,029

560

495

429

429

395

345

329

349

283

495

476

450

410

$1.45M $1.51M

$1.45M $1.45M $1.49M $1.50M $1.50M $1.43M $1.45M $1.48M $1.44M $1.40M

$1.30M

23-Dec

24-Nov

24-Dec

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY ● S-L RATIO

800

600

400

23%

22%

16%

200

13%

10%

8%

7%

5%

1%

0

<$1M

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M

$6.0M+

S-L RATIO SALES INVENTORY

117 26 22%

229 53 23%

562 90 16%

853 107 13%

376 30 8%

275 18 7%

195 19 10%

91 5 5%

55 0 n/a

110 1 1%

Copyright © 2025 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 13, 2025. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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 ●

fraser valley board area TOWNHOME - DECEMBER 2 0 2 4

SALES TO LISTINGS RATIO 22% SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▲ 0.7% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 0.5% VS 2023

▲ 61% VS 2023

▲ 31% VS 2023

▼ 3% VS 2023

There were 1,095 townhome listings in the Fraser Valley board area in December, 17% below November and 61% higher than December 2023. December townhome sales decreased by 4% month-over-month, to 242, and were 31% above December 2023. The sales-to-listing ratio for townhomes in the Fraser Valley board area, at 22%, reflected a sellers' market. The townhome median price in December was $799,950, a 3% decrease from November and 3% below December 2023. The average sold price was $821,215, 2% below last month; the average PSF sale price was $529, down 0.6% to last month.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No. 185 680

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$529 $821,215 $799,950 22% 242 1,095

0.7% 0.5% -3% -19% 31% 61%

$533 $838,559 $825,000 19% 253 1,320

-0.6% -2% -3% 15% -4% -17%

$526 $816,835 $823,000 27%

▶ AVG PRICE PER SQUARE FOOT

▶ RECENT TRENDS

● DEC 2023 ● DEC 2024

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

1,320

1,438

1,242

1,399

1,390

1,388

1,314

1,068

1,095

823

879

680

711

402

384

355

338

369

342

242

185

280

261

261

253

232

$866K

$852K

$855K

$842K

$850K

$830K

$833K

$830K

$830K

$823K

$820K

$825K

$800K

FVREB

REBGV

▶ NUMBER OF BEDROOMS

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY

● SALES ● TOTAL INVENTORY ● S-L RATIO

500

54

4+ bdrms

347

400

67%

122

300

3 bdrms

533

44%

200

32%

62

18%

2 bdrms

13% 11%

211

100

0

4 4

<2 bdrms

<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+

S-L RATIO SALES INVENTORY

52 23 44%

309 98 32%

493 90 18%

176 23 13%

55 6 11%

6 0 n/a

3 2 67%

1 0 n/a

Copyright © 2025 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 13, 2025. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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 ●

fraser valley board area CONDO - DECEMBER 2 0 2 4

SALES TO LISTINGS RATIO 18% BALANCED MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▼ 3% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 53% VS 2023

▲ 13% VS 2023

▼ 0.7% VS 2023

▼ 1.9% VS 2023

There were 1,785 condo listings in the Fraser Valley board area in December, 16% below November and 53% higher than December 2023. December condo sales decreased by 12% month-over-month, to 314, and were 13% above December 2023. The sales-to-listing ratio for condos in the Fraser Valley board area, at 18%, reflected a balanced market. The condo median price in December was $515,000, a 1.4% decrease from November and 1.9% below December 2023. The average sold price was $539,263, 2% below last month; the average PSF sale price was $649, down 2% to last month.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$649 $539,263 $515,000 18% 314 1,785

$670 $543,023 $525,000 24% 278 1,165

13% 53%

$665 $552,435 $522,500 17% 356 2,124

-2% -2% -1.4% 5% -12% -16%

-3% -0.7% -1.9% -26%

▶ AVG PRICE PER SQUARE FOOT

▶ RECENT TRENDS

● DEC 2023 ● DEC 2024

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

2,229

2,124

2,049

2,256

1,857

2,082

1,726

1,922

1,785

1,425

1,165

1,303

1,179

453

447

422

394

371

356

314

278

408

396

323

308

294

$560K

$550K

$550K

$545K

$540K

$530K

$531K

$530K

$530K

$525K

$525K

$523K

$515K

FVREB

REBGV

▶ NUMBER OF BEDROOMS

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY

● SALES ● TOTAL INVENTORY ● S-L RATIO

1,200

1,000

4+ bdrms

3

800

15

3 bdrms

600

113

400

196

20%

2 bdrms

14% 14%

10%

200

1,000

3%

0

103

<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+

<2 bdrms

S-L RATIO SALES INVENTORY

1,112 225 20%

533 76 14%

79 11 14%

32 1 3%

11 0 n/a

10 1 10%

4 0 n/a

4 0 n/a

669

Copyright © 2025 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 13, 2025. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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 ●

burnaby north DETACHED - DECEMBER 2 0 2 4

SALES TO LISTINGS RATIO 20% BALANCED MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 21% VS 2023

▲ 12% VS 2023

▲ 35% VS 2023

▲ 16% VS 2023

There were 109 detached listings in Burnaby North in December, 15% below November and 35% higher than December 2023. December detached home sales decreased by 21% month-over-month, to 22, and were 16% above December 2023. The sales-to-listing ratio for detached in Burnaby North, at 20%, reflected a balanced market. The detached median price in December was $2,162,500, a 2% increase from November and 12% above December 2023. The average sold price was $2,465,885, 10% above last month and up 21% to December 2023.

THIS MONTH No. $2,465,885 $2,162,500 20% 22 109

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE

19 81

21% 12% -14% 16% 35%

$2,251,571 $2,117,500 22% 28 128

10% 2% -8% -21% -15%

$2,033,105 $1,925,000 23%

▶ RATIO OF MEDIAN PRICES

▶ RECENT TRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

163

149

130

128

145

145

2.50

114

130

2.34

109

2.21

84

81

83

70

36

31

30

28

24

22

1.31

19

1.25

24

1.23

22

20

19

16

16

$2.48M

$2.45M

$2.21M $2.22M $2.18M $2.14M $2.03M

$2.18M $2.16M

$2.17M $2.12M $2.16M

$1.93M

23-Dec

24-Nov

24-Dec

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY ● S-L RATIO

40

30

20

45%

42%

10

14%

13%

4%

0

<$1M

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M

$6.0M+

S-L RATIO SALES INVENTORY

2 0 n/a

12 5 42%

22 10 45%

23 1 4%

38 5 13%

7 1 14%

4 0 n/a

1 0 n/a

Copyright © 2025 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 13, 2025. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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 ●

burnaby north TOWNHOME - DECEMBER 2 0 2 4

SALES TO LISTINGS RATIO 35% SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▼ 2% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 9% VS 2023

▲ 6% VS 2023

▲ 80% VS 2023

▼ 19% VS 2023

There were 26 townhome listings in Burnaby North in December, 35% below November and 19% lower than December 2023. December townhome sales decreased by 44% month-over-month, to 9, and were 80% above December 2023. The sales-to-listing ratio for townhomes in Burnaby North, at 35%, reflected a sellers' market. The townhome median price in December was $923,000, a 9% increase from November and 6% above December 2023. The average sold price was $977,100, 8% above last month; the average PSF sale price was $665, up 5% to last month.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$665 $977,100 $923,000 35% 9 26

$682 $896,100 $870,000 16% 5 32

-2% 9% 6% 122% 80% -19%

16 40

-13% -44% -35%

$637 $907,313 $847,500 40%

5% 8% 9%

▶ AVG PRICE PER SQUARE FOOT

▶ RECENT TRENDS

● DEC 2023 ● DEC 2024

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

51

49

55

48

54

40

45

36

43

35

32

34

21

20

26

19

16

15

14

14

9

12

12

10

5

6

$950K

$929K

$930K

$923K

$890K

$893K

$879K

$880K

$870K

$852K

$848K

$760K

$727K

BURNABY NORTH

REBGV

▶ NUMBER OF BEDROOMS

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY

● SALES ● TOTAL INVENTORY ● S-L RATIO

12

3

10

4+ bdrms

2

8

3

3 bdrms

50% 50%

6

9

43%

4

3

18%

2 bdrms

13

2

0

<2 bdrms

<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+

2

S-L RATIO SALES INVENTORY

11 2 18%

7 3 43%

4 2 50%

4 2 50%

Copyright © 2025 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 13, 2025. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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 ●

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