the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION
published November 2020
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
NEIGHBOURHOOD PROFILES
05 08 11 14 17 20 23 26 29 32 35 38 41 44
Vancouver Region
Greater Vancouver Board Area Fraser Valley Board Area
Burnaby North Burnaby South
Ryan Berlin DIRECTOR OF INTELLIGENCE & SENIOR ECONOMIST rberlin@rennie.com
Bowen Behan Pausey DATA ANALYST bbehan@rennie.com
Coquitlam
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 November 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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
another month, another all-time sales high
As supply waned in the latter half of October, demand swelled, yielding the largest number of sales in any October in the Vancouver Region’s history. Detached and townhome prices continued to march upwards, while condo prices levelled off.
October average, prices unsurprisingly have continued their upward march. Since the beginning of the onset of the pandemic, for example, benchmark detached prices in the Vancouver Region are 7% higher, those of townhomes are 4% higher, and for condos they’re 1% higher (respective average and median prices are also all higher, both north and south of the Fraser). Despite the clear negative economic impacts associated with our response to the pandemic, strong demand and a weak supply response has made it harder for new buyers to get into home ownership in recent months. As we look ahead to the end of 2020 and into 2021, expect demand tailwinds to slow; even if supply doesn’t expand appreciably, this should provide some price relief.
On the surface, housing markets across the country seem to be defying the odds as they tally more and more sales alongside a seemingly unending rise in values—despite economic conditions that are the most challenged since the Great Recession of 2008/09. Here in the Vancouver Region this dynamic certainly rings true, with the 5,933 sales in October representing the most in any October ever in this market (on the heels of a record number of September sales, which we reported on in last month’s rennie review). Comparisons to more recent activity show that October’s sales were 3% higher than in September, 36% more than a year ago, 52% above the past-decade average for the month. Demand was robust both north and south of the Fraser River, with the Greater Vancouver board area registering just over 3,700 sales in October (29% more than in
October 2019) and the Fraser Valley board area counting 2,229 transactions (49% higher than last year). Additionally, South of Fraser communities (which include Surrey, Langley, and Abbotsford) accounted for 38% of all regional sales in October, including 44% of detached sales and 47% of townhome sales (as well as 24% of all condo sales). That the South of Fraser market accounts for almost half of ground-oriented transactions does reflect a recent covid-related shift by buyers, however it’s also part of a longer- term trend that has seen an increasing share of housing market activity taking place outside of the historic centre of the region (Vancouver, Burnaby, and Richmond). With housing inventory shrinking through the latter half of October and full-month data showing total listings down 9% versus September, down 7% versus October 2019, and 13% lower than the past-decade
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 November 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
House $3,490,000 | WEST VAN 1847 Duchess Avenue 5 Bed, 3,108 SF Eric Langhjelm PREC* 778.688.4149
House $3,399,000 | SURREY 13548 22a Avenue 5 Bed, 5,338 SF Charlie Kim PREC* 604.767.1531
1555 West Eighth $2,749,900 | FAIRVIEW 602-1555 W 8th Avenue 3 Bed, 1,857 SF Paul Wong 604.716.0483
House
House
Parkview Tower $1,198,000 | YALETOWN
$2,288,000 | BURNABY
$1,598,000 | RICHMOND 9260 Pauleshin Crescent 4 Bed, 2,131 SF
4388 Pandora Street 4 Bed, 2,421 SF Brandon Blue PREC* 604.999.7792
1601-289 Drake Street 2 Bed, 1,207 SF Danny Chow PREC* 604.765.2469
Clara Chew 604.722.2161
Residences at West $1,089,000 | FALSE CREEK 202-1783 Manitoba Street 2 Bed, 1,025 SF
Townhome
Kits Lofts
$1,049,900 | MT. PLEASANT
$949,000 | KITSILANO 4-2088 W 11th Avenue 2 Bed, 914 SF
316-2508 Watson Street 2 Bed, 1,071 SF
Derek Kai PREC* 604.868.1666
Sarah Panther 604.219.5393
Mike Ross 778.987.8874
The Carleton
Concord Gardens $838,000 | RICHMOND 1018-8800 Hazelbridge Way 2 Bed, 891 SF
The Monaco
$919,000 | BURNABY 401-4223 Hastings Street 2 Bed, 1,122 SF
$765,000 | NORTH VAN 401-408 Lonsdale Avenue 2 Bed, 1,001 SF
Disa Lim 604.880.8604
Jenna Van Alstine 778.558.3355
Hanson Lu PREC* 604.787.2578
Elan
Brio
Brentwood Gate $599,900 | BURNABY 428-4833 Brentwood Drive 2 Bed, 785 SF Lorenzo Daminato PREC* 604.657.8121
$610,000 | DOWNTOWN 1505-1255 Seymour Street 1 Bed, 513 SF Janette Fricker PREC* 604.787.2862
$609,900 | TSAWWASSEN
104-1166 54a Street 2 Bed, 1,125 SF Joanne Hoekstra 604.722.6645
The Tate on Howe $599,880 | DOWNTOWN 405-1283 Howe Street 1 Bed, 544 SF
Austin $599,000 | COQUITLAM 305-958 Ridgeway Avenue 2 Bed, 784 SF Andy Mah 604.779.9382
The Columbia $498,000 | NEW WEST 1506-258 Nelson’s Court 1 Bed, 576 SF
Ryan O’Hearn 778.384.2667
Wilda Agassiz 604.290.6754
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 November 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 OCTOBER vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 9 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
23 % DOWN
12 % UP
-
51 % UP
SELLER’S 33 %
The number of detached listings in the Vancouver Region in October, at 7,335, was 9% lower month- over-month and 23% lower year-over-year. The 2,431 detached sales in October were 3% above last month and 51% higher vs last year. The sales-to-listings ratio increased to 33%, as the Vancouver Region’s detached market remained in seller’s market territory. The benchmark price in October was $1.32M, 1.2% above September and 9% higher vs October 2019. The average sold price was $1.47M, 0.1% above the previous month and 12% higher vs October 2019.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
7,335 2,431
8,088 2,350
-9%
9,488 1,614
-23% 51% 95%
TOTAL SALES
3%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
33%
29%
14%
17%
$1,316,300 $1,300,300 1.2% $1,205,000 $1,473,719 $1,472,160 0.1% $1,316,244
9%
12%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.32
$1.29
$1.26
$1.25
$1.23
$1.21
$1.21
1.87
1.85
1.80
9,488
8,322
1.07
1.07
1.06
7,834
7,015
7,335
6,994
6,178
2,431
2,082
1,614
1,600
1,262
1,122
688
Oct-19
Sep-20
Oct-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 November 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 OCTOBER vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 5 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
18 % DOWN
4 % UP
4 % UP
50 % UP
SELLER’S 50 %
The number of townhome listings in the Vancouver Region decreased 14% from last month, settling at 2,584, and were 18% below October 2019. Townhome sales, at 1,291, were 9% higher vs last month and 50% above October 2019. The sales-to-listings ratio increased to 50% in October, as the Vancouver Region’s townhome segment remained in a seller’s market. The benchmark price in October was 0.4% above September, at $703,800, and was 5% higher year-over-year. The average sold price was $756,157 in October, (increasing 1.7% vs September) while the average PSF sales price was $503 (increasing 1.6%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
2,584 1,291
2,989 1,189
-14%
3,151
-18% 50% 83%
TOTAL SALES
9%
860 27%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
50%
40%
26%
$703,800 $701,000 $756,157 $743,854
0.4% $669,400 1.7% $726,966
5% 4% 4%
$503
$495
1.6%
$486
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$669,400 $669,500 $676,500 $684,500 $688,400 $697,800 $703,800
3,151
3,030
2,833
2,584
2,366
2,297
1,978
1,291
1,056
863
860
676
577
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
265
4+ bdrms
522
696
3 bdrms
1,361
330
<3 bdrms
701
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 November 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
CONDO OCTOBER vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO 26 %
MARKET SUMMARY ›
4 % UP
0.6 % UP
20 % UP
15 % UP
There were 7,930 condo listings in the Vancouver Region in October, 6% below September but 20% higher vs October 2019. October condo sales decreased by 0.3% month-over- month but were 15% above October 2019. The sales-to-listings ratio for condos in the Vancouver Region increased to 26%, remaining a seller’s market. The condo benchmark price in October was $655,400, decreasing 0.2% from September but 4% higher vs October 2019. The average sold price was $619,708, 3% below last month; the average PSF sales price was $703, down 3% from last month.
VS
VS
VS
VS
VS
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
7,930 2,073
8,401 2,079
-6%
6,602
20% 15% -4%
TOTAL SALES
-0.3% 1,797
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
26%
25%
6%
27%
$655,400 $656,600 $619,708 $636,069
-0.2% $629,000 -3% $597,428
4% 4%
$703
$726
-3%
$699
0.6%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$660,500 $654,000 $658,200 $655,400
$629,000 $632,500 $651,000
8,321
7,930
7,017
6,602
5,823
5,213
4,304
2,073
1,797
1,756
1,512
1,375
1,359
657
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
133
3+ bdrms
BUYER'S MARKET
846
1,176
2 bdrms
4,695
764
<2 bdrms
. . . . 0 0 0 0
2,389
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 November 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 OCTOBER greater vancouver board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 9 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
23 % DOWN
12 % UP
-
43 % UP
30 %
Detached listings in the REBGV decreased to 4,454 in October, 9% below September and 23% lower vs October 2019. Detached sales, at 1,351, increased 2% compared to September and were 43% higher vs October 2019. The sales-to-listings ratio increased to 30%, as the REBGV detached market remained in seller’s market territory. The detached benchmark price in October was $1.52M, up 1.1% month-over-month and a 9% increase year-over-year. The average sold price was $1.71M, up 0.3% from the previous month and 12% higher year-over-year.
VS
VS
VS
VS
VS
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
4,454 1,351
4,884 1,323
-9%
5,778
-23% 43% 85%
TOTAL SALES
2%
945 16%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
30%
27%
12%
$1,523,800 $1,507,500 1.1% $1,404,100 $1,714,902 $1,710,341 0.3% $1,532,754
9%
12%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.52
$1.49
$1.46
$1.45
$1.43
$1.41
$1.40
1.87
1.86
1.82
5,778
1.19
1.18
1.18
4,978
4,647
4,454
4,306
4,226
3,853
1,351
1,107
945
869
682
603
392
Oct-19
Sep-20
Oct-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 November 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 OCTOBER
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 5 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
21 % DOWN
3 % UP
4 % UP
46 % UP
SELLER’S 48 %
The number of townhome listings in the REBGV increased to 1,411 in October, 15% below September and 21% lower year-over-year. Townhome sales in October, at 680, were up 7% vs September and 46% above last year. The sales-to-listings ratio increased to 48% as the REBGV townhome market remained a seller’s market. The townhome benchmark price in October was $813,000, 0.4% above September and 5% higher than in October 2019. The average sold price was $880,425, with an average PSF sales price of $610 (up 1.9% and 3%, respectively, vs September).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,411
1,659
-15%
1,791
-21% 46% 86%
TOTAL SALES
680 48%
634 38%
7%
465 26%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
26%
$813,000 $809,900 $880,425 $864,105
0.4% $771,500 1.9% $856,095
5% 3% 4%
$610
$592
3%
$589
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$813,000
$771,500 $776,200 $783,400 $791,200 $790,800 $806,400
1,791
1,707
1,577
1,411
1,314
1,348
1,134
680
540
465
412
339
292
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
116
4+ bdrms
BUYER'S MARKET
239
369
3 bdrms
739
195
<3 bdrms
. . . . 0 0 0 0
433
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 November 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 OCTOBER
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
4 % UP
0.6 % UP
22 % UP
13 % UP
SELLER’S 25 %
The number of condo listings in the REBGV decreased to 6,202 in October, 5% below September but 22% higher vs October 2019. At 1,571, condo sales were 1.7% lower month-over- month but 13% higher year-over-year. The sales-to-listings ratio was unchanged at 25%, as the REBGV condo market remained favourable to sellers. The condo benchmark price in October was $683,500, unchanged from September and up 4% compared to October 2019. The average sold price was $685,365 (decreasing 2% from September) with an average PSF sales price of $777 (3% lower vs September).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
6,202 1,571
6,516 1,598
-5%
5,069
22% 13% -7%
TOTAL SALES
-1.7% 1,387
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
25%
25%
3%
27%
$683,500 $683,500 $685,365 $699,054
0.0% $654,800 -2% $661,074
4% 4%
$777
$800
-3%
$772
0.6%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$654,800 $659,500 $680,300 $688,800 $680,800 $685,800 $683,500
6,402
6,202
5,331
5,069
4,362
3,953
3,299
1,571
1,387
1,335
1,105
1,062
1,047
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
109
3+ bdrms
BUYER'S MARKET
716
853
2 bdrms
3,510
609
<2 bdrms
. . . . 0 0 0 0
1,976
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 November 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 OCTOBER fraser valley board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 10 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
22 % DOWN
16 % UP
-
61 % UP
SELLER’S 37 %
The number of October detached listings in the Fraser Valley board area was 10% lower vs September (at 2,881) and 22% below October 2019. Detached sales increased 5% from September, to 1,080, and were up 61% vs October 2019. The sales-to-listings ratio increased to 37%, as the board area’s condo market remained in seller’s market territory. The benchmark price in October was $1.05M, up 1.4% month-over-month and 10% higher year-over-year. The average sold price in October was $1.17M, 0.6% higher month-over-month and 16% higher year-over-year.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
2,881 1,080
3,204 1,027
-10%
3,710
-22% 61% 108%
TOTAL SALES
5%
669 18%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
37%
32%
17%
$1,046,900 $1,032,700 1.4% $952,600 $1,172,016 $1,165,331 0.6% $1,010,411
10% 16%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$1,019,600 $1,046,900
$952,600 $952,600 $970,200 $992,300 $994,500
1.84
1.82
1.76
1.31
1.30
1.30
3,710
3,344
3,187
2,709
2,881
2,768
2,325
1,080
975
731
669
580
519
296
Oct-19
Sep-20
Oct-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 November 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 OCTOBER fraser valley board area
AVERAGE PRICE
AVERAGE PSF PRICE 5 % UP
BENCHMARK PRICE 5 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
14 % DOWN
7 % UP
55 % UP
SELLER’S 52 %
The number of townhome listings in the Fraser Valley board area decreased to 1,173 in October, 12% below last month and 14% lower than last year. At 611, townhome sales were up 10% vs September and 55% above last year. The sales-to-listings ratio, at 52%, remained favour- able market for sellers. The benchmark price in October was $569,200, up 0.3% from last month and 5% higher vs last year. The average sold price, at $617,856, was 1.9% higher between September and October while the average PSF sales price was unchanged (at $384).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,173
1,330
-12% 10% 25%
1,360
-14% 55% 79%
TOTAL SALES
611 52%
555 42%
395 29%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$569,200 $567,300 $617,856 $606,487
0.3% $541,800 1.9% $574,953
5% 7% 5%
$384
$384
0.0%
$364
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$569,200
$541,800 $538,900 $545,300 $552,800 $559,600 $563,900
1,360
1,323
1,256
1,173
1,018
983
844
611
516
451
395
337
285
200
FVREB
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
149
4+ bdrms
BUYER'S MARKET
283
327
3 bdrms
622
135
<3 bdrms
. . . . 0 0 0 0 QD QD
268
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 November 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
fraser valley board area
CONDO OCTOBER
AVERAGE PRICE
AVERAGE PSF PRICE 4 % UP
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
8 % UP
13 % UP
22 % UP
SELLER’S 29 %
There were 1,728 condo listings in the Fraser Valley board area in October, 8% below last month but 13% higher vs October of last year. At 502, condo sales were 4% higher month-over- month and 22% above October 2019. Increasing to 29%, the board area’s condo sales-to- listings ratio reflected seller’s market conditions. The condo benchmark price in October was $434,600, 0.5% below September but 4% higher vs October 2019. The average sold price was $414,237 (3% below September), while the average PSF sales price was $473 (1.5% below September).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,728
1,885
-8%
1,533
13% 22%
TOTAL SALES
502 29%
481 26%
4%
410 27%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
14%
9% 4% 8% 4%
$434,600 $436,900 $414,237 $426,816
-0.5% $417,000 -3% $382,119 -1.5% $453
$473
$480
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$417,000 $418,600 $428,400 $438,000 $435,300 $437,300 $434,600
1,919
1,728
1,686
1,533
1,461
1,260
1,005
502
421
410
407
313
312
150
FVREB
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
24
3+ bdrms
130
SELLER'S MARKET
323
BALANCED
2 bdrms
1,185
BUYER'S MARKET
155
<2 bdrms
. . . . 0 0 0 0 QD QD
413
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 November 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 OCTOBER burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 10 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
14 % DOWN
8 % DOWN
9 % UP
-
SELLER’S 31 %
The number of detached listings in Burnaby North in October, at 144, was 1.4% lower month-over- month and 14% lower year-over-year. With 45 in October, detached sales were 8% below last month and last year. The sales-to-listings ratio decreased to 31%, as Burnaby North’s detached market remained favour- able to sellers. The benchmark price in October was $1.50M, 0.1% above September and 10% above October 2019. The average sold price was $1.67M, down 7% from the previous month but 9% above October 2019.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 146
% Change
No. 167
% Change
TOTAL LISTINGS
144
-1.4%
-14%
TOTAL SALES
45
49
-8% -7%
49
-8%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
31%
34%
29%
7%
$1,502,200 $1,501,200 0.1% $1,366,200
10%
$1,666,609 $1,786,053
-7% $1,527,764
9%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.50
$1.49
$1.48
$1.47
$1.42
2.05
$1.39
2.01
$1.37
1.89
1.23
1.21
1.19
167
144
144
120
111
105
96
58
49
45
31
23
23
14
Oct-19
Sep-20
Oct-20
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES
TOTAL INVENTORY
S L RATIO
SELLER'S MARKET
BALANCED
BUYER'S MARKET
. . . 0 0 0 0 0 QD QD QD QD
S-L RATIO SALES INVENTORY
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of November 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 OCTOBER burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE 6 % UP
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
7 % UP
31 % DOWN
10 % UP
SELLER’S 42 %
The number of townhome listings in Burnaby North decreased 20% from last month, settling at 52, and were 31% below October 2019. Townhome sales, at 22, were 12% lower than last month but 10% above October 2019. The sales-to-listings ratio rose to 42% in October, as Burnaby North’s townhome segment remained in a seller’s market. The benchmark price in October was up 2% month-over-month, to $746,400, and was 3% above October 2019. The average sold price was $782,107 in October, (increasing 9% vs September) while the average PSF sales price was $589 (increasing 23%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
52 22
65 25
-20% -12% 10%
75 20
-31% 10% 59%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
42%
38%
27%
$746,400 $731,900 $782,107 $718,324
2% $723,900 9% $732,455
3% 7% 6%
$589
$478
23%
$558
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$723,900 $725,000 $727,900 $727,900 $734,600 $732,500 $746,400
75
59
58
56
52
48
42
27
22
20
17
13
12
4
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
4+ bdrms
BUYER'S MARKET
5
11
3 bdrms
22
9
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD
25
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 November 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 OCTOBER burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE 4 % UP
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
0.9 % UP
42 % UP
4 % UP
SELLER’S 24 %
There were 399 condo listings in Burnaby North in October, 5% below September but 42% higher vs October 2019. October condo sales decreased by 14% month-over- month, to 96, but were 4% above October 2019. The sales-to-listings ratio for condos in Burnaby North decreased to 24%, remaining a seller’s market. The condo benchmark price in October was $614,800, a 0.2% increase from September and 4% above October 2019. The average sold price was $599,590, 6% below last month; the average PSF sales price was $707, down 5% from last month.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 418 111 27%
% Change
No. 281
% Change
TOTAL LISTINGS
399
-5%
42%
TOTAL SALES
96
-14%
92
4%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
24%
-9%
33%
-27%
$614,800 $613,400 $599,590 $634,615
0.2% $590,300 -6% $594,428
4%
0.9%
$707
$746
-5%
$683
4%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$590,300 $598,200 $613,000 $618,600 $605,500 $614,400 $614,800
425
399
305
281
276
207
149
103
96
92
63
63
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
8
BALANCED
3+ bdrms
BUYER'S MARKET
37
59
2 bdrms
257
29
<2 bdrms
. . . . 0 0 0 0 QD QD QD
105
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 November 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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