the rennie review - July 2021

the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION

published July 2021

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 SENIOR ANALYST bbehan@rennie.com

Coquitlam

Langley

North Vancouver

Richmond Squamish

Surrey

Vancouver East Vancouver West West Vancouver

49 CURRENT PROJECTS

Copyright © 2021 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of July 5, 2021. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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

continued swoon or comparative boom?

Participation in the housing market in the Vancouver Region waned in June, as both sales and inventory dipped. In part we have the warm weather and the success of the vaccine to thank.

Notably, inventory fell on a month-over- month basis in June for the first time in four months, at a time of year when inventory is typically expanding (on average by 2% between May and June over the past decade). With sales and inventory waning, this same- direction recalibration of both demand and supply has had little effect on overall market conditions, which continue to favour sellers, albeit to a lesser extent than a few months ago. In turn this has meant that prices have more or less remained even as sales have sagged, with the region’s average sold price of $1.12 million in June down only 2% from March’s $1.14 million. When our province moves to Step 4 of its re- opening plan in September, our respite from an overly-active housing market may come to an end. Until then, however, expect activity to be muted through July and August.

At the time of this report’s writing, things are looking up for denizens of the Vancouver Region: summer and its heat are upon us (ok, maybe it’s been a bit too much heat), 80% of eligible British Columbians have received at least one dose of the Covid-19 vaccine (and 41% are fully vaccinated), and the province has transitioned to Step 3 of its Covid-19 re-opening plan. Add it all up, and it’s very likely that a sizeable proportion of our population will be focussed more on seeing friends and family, and vacationing, than buying and selling real estate during the summer months. In considering this change in focus from homes to humans that will likely characterize the next couple of months, it’s worth asking if the transition already began in June. Indeed, the province moved from Step 1 to Step 2, allowing for more interpersonal contact,

frequenting of food and drink establishments, and mobility; at the same time, MLS sales in the Vancouver Region fell for the 3rd straight month, from an all-time peak of 8,898 back in March to “only” 5,963 in June. Compared to the previous month, June’s sales were down 16%, when a typical May-to-June sales count change is a decline of 2%. So while one and two data points do not a trend make, we now have three—as in three months of declining sales—so it seems safe to say we are truly coming off of the historic highs achieved earlier in the year. And these highs are not likely to be re-attained in the foreseeable future. Having said that, it’s worth noting that June’s just-shy-of-6,000 sales were the most in any month in the pre-Covid era, going all the way back to June 2017. It seems clear, then, that the demand side of the market has some room to run still.

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Premiere

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807 - 138 East Esplanade Avenue 2 Bed, 952 SF

Jenna Van Alstine 778.558.3355

Candace Cheung 604.649.4328

Matthew Allen 604.997.6782

Townhome

Alto

Wall Centre

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$699,900 | VANCOUVER 3304 - 5515 Boundary Road 2 Bed, 670 SF

Dal Milin PREC* 778.881.9021

Matthew Lee 778.882.2673

Derek Kai PREC* 604.868.1666

Uptown

Irving

Botanica

$678,800 | MT. PLEASANT 607 - 2788 Prince Edward Street 1 Bed + Den, 628 SF

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$579,000 | BURNABY

206 - 7330 Salisbury Avenue 2 Bed + Den, 811 SF

Liza Fong PREC* 604.313.8883

Shelly Vellani PREC* 604.710.3681

Ryan Wong PREC* 604.551.7966

Linea $519,900 | SURREY 1109 - 13318 104 Avenue 1 Bed, 600 SF Artyom Seroff PREC* 778.223.0033

Paris Block $499,000 | VANCOUVER 302 - 53 W Hastings Street 1 Bed, 567 SF Danny Chow PREC* 604.765.2469

Chateau Pacific $399,000 | NORTH VAN 308 - 160 East 19th Street 1 Bed, 623 SF Karim Kamrani 604.789.6461

Copyright © 2021 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of July 5, 2021. 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.

vancouverregion DETACHED-JUNE 2021

SALESTO LISTINGSRATIO 31% SELLER'SMARKET

▶ MARKETSUMMARY Therewere7,106detachedlistingsintheVancouver RegioninJune,6%belowMayand2%lowerthanJune 2020. Junedetachedhomesalesdecreasedby19% month-over-month,to2,232,andwere40%aboveJune 2020. Thesales-to-listingratiofordetachedintheVancouver Region,at31%,reflectedaseler'smarket.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 27% VS2020

▲ 28% VS2020

▼ 2% VS2020

▲ 40% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

2,232 7,106

1,600 7,281

27% 28% 43% 40% -2%

2,752 7,568

2% 1.2% -14% -19% -6%

ThedetachedmedianpriceinJunewas$1,468,000,a 1.2%increasefromMayand28%aboveJune2020.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$1,752,748 $1,468,000 31%

$1,710,431 $1,450,000 36%

$1,382,300 $1,150,000 22%

Theaveragesoldpricewas$1,752,748,2%abovelast monthandup27%toJune2020.

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIANPRICE

7,568

7,015

7,281

7,599 7,599

7,106

7,383

7,333

5,980

5,968

1.87

1.86

1.82

4,502

3,506

4,379

4,282

1.37

2,752

1.35

2,420

2,338

2,10

3,042

1.23

1,998

2,232

2,421

2,16

1,600

2,074

1,489

$1.50M

$1.48M $1.41M

$1.47M

$1.45M

$1.35M

$1.30M

$1.27M

$1.25M

$1.24M

$1.18M

$1.15M

Jun-20

May-21

Jun-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

2000

1500

77%

70%

1000

50%

47%

36%

33%

500

22%

16%

10%

<$600K

$600-799K

$800-999K

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M

$2.0M-2.49M

$2.5M-2.99M

$3M+ 1,863 180 10%

S-LRATIO SALES INVENTORY

112 37 33%

96 45 47%

269 187 70%

525 403 77%

1,002 502 50%

1,573 564 36%

866 187 22%

800 127 16%

Copyright©July5,2021reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJuly5,2021.AldatafromRealEstateBoardof GreaterVancouverandFraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipient oftheinformationshouldtakestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained fromarenieandasociatesadvisor.Alinformationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromrenniegroupofcompanies.E.&O.E.

●

vancouverregion TOWNHOME-JUNE 2021

SALESTO LISTINGSRATIO 61% SELLER'SMARKET

▶ MARKETSUMMARY Therewere1,971townhomelistingsintheVancouver RegioninJune,3%belowMayand28%lowerthanJune 2020. Junetownhomesalesdecreasedby15% month-over-month,to1,206,andwere40%aboveJune 2020. Thesales-to-listingratiofortownhomesintheVancouver Region,at61%,reflectedaseler'smarket. ThetownhomemedianpriceinJunewas$787,500,a 1.5%increasefromMayand25%aboveJune2020. Theaveragesoldpricewas$866,130,1.4%abovelast month;theaveragePSFsalepricewas$586,up1.6%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 22% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 21% VS2020

▲ 25% VS2020

▼ 28% VS2020

▲ 40% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

1,206 1,971

31% 863 2,788

22% 21% 25% 98% 40% -29%

1,414 2,033

1.6% 1.4% 1.5% -12% -15% -3%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$586 $866,130 $787,500 61%

$577 $853,897 $776,000 70%

$481 $713,360 $632,500

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2020 ● JUN 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

2,619

2,788

2,956

2,925

2,862

2,260

2,033

2,022

1,971

1,724

1,682

1,641

1,608

1,485

1,414

1,291

1,586

1,196

1,099

1,407

1,206

1,071

863

1,060

1,013

836

$785K

$788K

$780K

$776K

$720K

$688K

$675K

$665K

$671K

$660K

$656K

$646K

$633K

VANCOUVERREGION REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

700

240

600

4+bdrms

374

500

72%

68% 70%

650

62%

400

3bdrms

1,045

48%

300

200

302

26%

25%

2bdrms

507

14%

100

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

31 8 26%

225 139 62%

669 481 72%

471 319 68%

208 145 70%

142 68 48%

133 33 25%

92 13 14%

Copyright©July5,2021reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJuly5,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 6 ●

vancouverregion CONDO-JUNE 2021

SALESTO LISTINGSRATIO 40% SELLER'SMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 6% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 6% VS2020

▲ 12% VS2020

▼ 12% VS2020

▲ 59% VS2020

Therewere6,053condolistingsintheVancouverRegion inJune,0.8%aboveMayand12%lowerthanJune2020.

Junecondosalesdecreasedby15%month-over-month, to2,403,andwere59%aboveJune2020.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

Thesales-to-listingratioforcondosintheVancouver Region,at40%,reflectedaseler'smarket.

TOTALLISTINGS TOTALSALES

2,403 6,053

1,507 6,866

12% 81% 59% -12%

2,831 6,002

0% 0.6% 0.2% -16% -15% 0.8%

ThecondomedianpriceinJunewas$575,000,a0.2% increasefromMayand12%aboveJune2020. Theaveragesoldpricewas$644,505,0.6%abovelast month;theaveragePSFsalepricewas$756,up0.0%to lastmonth.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$756 $644,505 $575,000 40%

$714 $606,620 $515,000 22%

$756 $640,859 $574,000 47%

6% 6%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2020 ● JUN 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

7,474

7,335

8,297

8,024

8,002

6,866

6,002

5,831

5,595

6,053

5,697

5,401

3,509 5,355

2,831

2,081 2,066

2,985

1,936

2,403

1,829

2,436

1,507

1,797

1,755

1,560

$588K

$585K

$574K

$575K

$550K

$539K

$540K

$542K

$531K

$532K

$530K

$515K

VANCOUVERREGION REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

37 1

4+bdrms

1500

132

58% 55%

3bdrms

1000

697

45%

27%

1,398

500

23%

2bdrms

3,430

13% 13%

872

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

535 312 58%

1,802 988 55%

1,524 680 45%

881 237 27%

393 90 23%

302 39 13%

277 37 13%

339 20 6%

1,889

Copyright©July5,2021reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJuly5,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 7 ●

greatervancouverboardarea DETACHED-JUNE 2021

SALESTO LISTINGSRATIO 28% SELLER'SMARKET

▶ MARKETSUMMARY Therewere4,522detachedlistingsintheGreater VancouverboardareainJune,5%belowMayand5% higherthanJune2020. Junedetachedhomesalesdecreasedby11% month-over-month,to1,266,andwere47%aboveJune 2020. Thesales-to-listingratiofordetachedintheGreater Vancouverboardarea,at28%,reflectedaseler'smarket.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 22% VS2020

▲ 21% VS2020

▲ 5% VS2020

▲ 47% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

1,266 4,522

20% 862 4,313

22% 21% 40% 47% 5%

1,423 4,740

3% 0.3% -7% -11% -5%

ThedetachedmedianpriceinJunewas$1,635,000,a 0.3%increasefromMayand21%aboveJune2020.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$1,983,417 $1,635,000 28%

$1,934,826 $1,630,000 30%

Theaveragesoldpricewas$1,983,417,3%abovelast monthandup22%toJune2020.

$1,624,110 $1,346,550

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIANPRICE

4,740

4,389

4,237

4,522

4,313

4,580

4,540

4,397

3,742

3,664

1.81

1.80

1.70

2,905

2,864

2,762

1.43

1.42

1,960

1.35

1,653

1,308 1,343

1,19

1,020

1,266

1,423

1,223

862

1,098

1,063

739

$1.70M

$1.65M $1.60M

$1.64M

$1.63M

$1.52M

$1.50M

$1.48M

$1.44M

$1.38M

$1.37M

$1.35M

Jun-20

May-21

Jun-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

1600

1400

93%

1200

1000

58%

800

48%

600

39%

38%

400

23%

22%

16%

10%

200

<$600K

$600-799K

$800-999K

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M

$2.0M-2.49M

$2.5M-2.99M

$3M+ 1,458 149 10%

S-LRATIO SALES INVENTORY

54 12 22%

52 20 38%

117 68 58%

177 165 93%

466 225 48%

998 389 39%

605 140 23%

595 98 16%

●

greatervancouverboardarea TOWNHOME-JUNE 2021

SALESTO LISTINGSRATIO 54% SELLER'SMARKET

▶ MARKETSUMMARY Therewere1,186townhomelistingsintheGreater VancouverboardareainJune,-0.1%belowMayand24% lowerthanJune2020. Junetownhomesalesdecreasedby10% month-over-month,to635,andwere54%aboveJune 2020. Thesales-to-listingratiofortownhomesintheGreater Vancouverboardarea,at54%,reflectedaseler'smarket. ThetownhomemedianpriceinJunewas$909,000,a 1.0%increasefromMayand15%aboveJune2020. Theaveragesoldpricewas$984,845,0.2%abovelast month;theaveragePSFsalepricewas$694,up0.9%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 17% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 17% VS2020

▲ 15% VS2020

▼ 24% VS2020

▲ 54% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

54% 635 1,186

26% 412 1,562

17% 17% 15% 103% 54% -24%

59% 706 1,187

0.9% 0.2% 1% -10% -10% -0.1%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$694 $984,845 $909,000

$688 $983,000 $900,000

$595 $841,702 $790,000

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2020 ● JUN 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

1,562

1,658 1,645

1,612

1,258

1,440

1,187

1,150

1,083

1,186

954

847

954

927

901

678

636

539

635

506

706

616

542

536

412

372

$910K

$909K

$900K

$901K

$900K

$815K

$816K

$790K

$789K

$790K

$791K

$785K

$780K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

300

100%+

4+bdrms

250

173

200

67% 66%

64%

342

3bdrms

56%

150

616

49%

100

185

26%

2bdrms

357

13%

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

3 4 133%

80 51 64%

275 154 56%

287 192 67%

185 123 66%

136 66 49%

129 33 26%

91 12 13%

Copyright©July5,2021reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJuly5,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 9 ●

greatervancouverboardarea CONDO-JUNE 2021

SALESTO LISTINGSRATIO 37% SELLER'SMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 4% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 4% VS2020

▲ 9% VS2020

▼ 8% VS2020

▲ 61% VS2020

Therewere4,782condolistingsintheGreater VancouverboardareainJune,1.4%aboveMayand8% lowerthanJune2020. Junecondosalesdecreasedby13%month-over-month, to1,787,andwere61%aboveJune2020.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

Thesales-to-listingratioforcondosintheGreater Vancouverboardarea,at37%,reflectedaseler'smarket.

TOTALLISTINGS TOTALSALES

1,787 4,782

1,109 5,222

76% 61% -8%

2,049 4,716

-0.8% -0.5% 0% -14% -13% 1.4%

ThecondomedianpriceinJunewas$635,000,a0 changefromMayand9%aboveJune2020. Theaveragesoldpricewas$705,055,0.5%belowlast month;theaveragePSFsalepricewas$834,down0.8% tolastmonth.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$834 $705,055 $635,000 37%

$803 $680,752 $585,000 21%

$842 $708,421 $635,000 43%

4% 4% 9%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2020 ● JUN 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

6,145

5,736

6,429

6,275

5,691

5,222

4,716

4,488

4,782

4,441

4,288

4,210

2,691 4,166

2,049

1,596 1,571

1,476

2,287

1,406

1,787

1,767

1,109

1,367

1,338

1,189

$636K

$637K

$635K

$619K

$608K

$598K

$590K

$585K

$589K

$588K

$587K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

1400

32 1

1200

4+bdrms

1000

100

800

3bdrms

56%

52%

571

48%

600

400

27%

976

22%

2bdrms

2,649

13% 14%

200

710

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

216 112 52%

1,136 640 56%

1,326 631 48%

844 229 27%

369 82 22%

295 38 13%

263 36 14%

333 19 6%

1,530

Copyright©July5,2021reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJuly5,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 10 ●

fraservaleyboardarea DETACHED-JUNE 2021

SALESTO LISTINGSRATIO 37% SELLER'SMARKET

▶ MARKETSUMMARY Therewere2,584detachedlistingsintheFraserValey boardareainJune,9%belowMayand13%lowerthan June2020. Junedetachedhomesalesdecreasedby27% month-over-month,to962,andwere32%aboveJune 2020. Thesales-to-listingratiofordetachedintheFraserValey boardarea,at37%,reflectedaseler'smarket.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 33% VS2020

▲ 32% VS2020

▼ 13% VS2020

▲ 32% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

37% 962 2,584

25% 729 2,968

33% 32% 52% 32% -13%

1,323 2,828

-1.2% -3% -20% -27% -9%

ThedetachedmedianpriceinJunewas$1,291,250,a3% decreasefromMayand32%aboveJune2020.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$1,469,004 $1,330,000 47%

Theaveragesoldpricewas$1,451,133,1.2%belowlast monthanddown33%toJune2020.

$1,451,133 $1,291,250

$1,093,731 $975,000

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIANPRICE

2,944

2,828

2,968

2,778

3,059 3,019

2,986

2,584

2,304

1.85

2,238

1.78

1.68

1.61

1,597

1,533

1.51

1,323

1,187

1,515 1,520

1,071

1,048

1,022

1,384

983

962

968

729

743

$1.34M

$1.33M $1.29M

$1.33M

$1.29M

$1.22M

$1.15M

$1.10M

$1.06M

$1.05M

$1.02M

$1.00M

$975K

Jun-20

May-21

Jun-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

600

500

78%

400

68%

57%

300

52%

40%

200

30%

18%

14%

100

<$600K

$600-799K

$800-999K

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M

$2.0M-2.49M

$2.5M-2.99M

$3M+

S-LRATIO SALES INVENTORY

58 23 40%

44 25 57%

152 119 78%

348 238 68%

536 277 52%

575 174 30%

261 47 18%

205 29 14%

405 30 7%

●

fraservaleyboardarea TOWNHOME-JUNE 2021

SALESTO LISTINGSRATIO 72% SELLER'SMARKET

▶ MARKETSUMMARY Therewere785townhomelistingsintheFraserValey boardareainJune,7%belowMayand36%lowerthan June2020. Junetownhomesalesdecreasedby20% month-over-month,to568,andwere26%aboveJune 2020. Thesales-to-listingratiofortownhomesintheFraser Valeyboardarea,at72%,reflectedaseler'smarket. ThetownhomemedianpriceinJunewas$725,000,a 0.7%increasefromMayand25%aboveJune2020. Theaveragesoldpricewas$733,680,1.2%abovelast month;theaveragePSFsalepricewas$466,up0.0%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 24% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 23% VS2020

▲ 25% VS2020

▼ 36% VS2020

▲ 26% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No. 83% 706 846

%Change

TOTALLISTINGS TOTALSALES

72% 568 785

37% 451 1,226

24% 23% 25% 97% 26% -36%

0% 1.2% 0.7% -13% -20% -7%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$466 $733,680 $725,000

$466 $724,801 $720,000

$376 $596,117 $579,900

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2020 ● JUN 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

1,250

1,31

1,179

1,226

1,267

1,002

872 846

788 775

785

687

659

612

759

560

706

506

568

641

558

451

533

531

517

462

$728K

$720K

$725K

$705K

$660K

$640K

$615K

$604K

$608K

$600K

$593K

$580K

$585K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

400

143

100%

4+bdrms

91%

201

83%

300

69%

307

60%

3bdrms

429

200

33%

115

100

2bdrms

14%

150

5 3

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

28 4 14%

145 87 60%

394 326 83%

184 127 69%

23 21 91%

6 2 33%

4 0 n/a

1 1 100%

Copyright©July5,2021reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJuly5,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 12 ●

fraservaleyboardarea CONDO-JUNE 2021

SALESTO LISTINGSRATIO 48% SELLER'SMARKET

▶ MARKETSUMMARY Therewere1,271condolistingsintheFraserValey boardareainJune,-1.2%belowMayand23%lowerthan June2020. Junecondosalesdecreasedby21%month-over-month, to614,andwere54%aboveJune2020.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 14% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 17% VS2020

▼ 23% VS2020

▲ 54% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

Thesales-to-listingratioforcondosintheFraserValey boardarea,at48%,reflectedaseler'smarket.

TOTALLISTINGS TOTALSALES

48% 614 1,271

24% 398 1,644

14% 17% 17% 100% 54% -23%

61% 779 1,286

-0.2% 1.8% 0.9% -20% -21% -1.2%

ThecondomedianpriceinJunewas$450,000,a0.9% increasefromMayand17%aboveJune2020. Theaveragesoldpricewas$469,556,1.8%abovelast month;theaveragePSFsalepricewas$529,up0.2%to lastmonth.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$529 $469,556 $450,000

$530 $461,110 $446,000

$464 $400,059 $385,000

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2020 ● JUN 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

1,783

1,749

1,868

1,857

1,599

1,644

1,343

1,307

1,271

1,286

1,256

1,191

806 1,189

779

666

494

614

480

459

690

423

398

426

417

369

$450K

$446K

$438K

$430K

$415K

$405K

$400K

$395K

$398K

$391K

$393K

$385K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

700

600

4+bdrms

500

62%

400

3bdrms

52%

126

300

33%

200

421

25% 22%

2bdrms

17%

14%

781

100

161

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

319 198 62%

666 348 52%

198 49 25%

37 8 22%

24 8 33%

7 1 14%

14 1 7%

6 1 17%

359

Copyright©July5,2021reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJuly5,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 13 ●

burnabynorth DETACHED-JUNE 2021

SALESTO LISTINGSRATIO 34% SELLER'SMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 25% VS2020

▲ 40% VS2020

▲ 71% VS2020

Therewere154detachedlistingsinBurnabyNorthin June,4%belowMayand40%higherthanJune2020. Junedetachedhomesalesincreasedby10% month-over-month,to53,andwere71%aboveJune 2020. Thesales-to-listingratiofordetachedinBurnabyNorth, at34%,reflectedaseler'smarket.

THISMONTH No. $2,010,238 $1,920,000 34% 53 154

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change 25% 25% 22% 71% 40%

No.

%Change

TOTALLISTINGS TOTALSALES

$1,603,855 $1,530,000 28% 31 110

$1,956,910 $1,783,000 30% 48 161

15% 10% -4%

ThedetachedmedianpriceinJunewas$1,920,000,a8% increasefromMayand25%aboveJune2020.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

Theaveragesoldpricewas$2,010,238,3%abovelast monthandup25%toJune2020.

3% 8%

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIANPRICE

154

161

157

132 136

128

125

2.48

2.40

127

2.11

67 67

49 45 44

1.38

1.26

1.21

$1.92M

$1.80M $1.80M

$1.80M

$1.78M

$1.60M

$1.57M

$1.56M

$1.53M

$1.55M

$1.50M

$1.49M

Jun-20

May-21

Jun-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

100%

71%

34%

32%

27%

<$600K

$600-799K

$800-999K

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M

$2.0M-2.49M

$2.5M-2.99M

$3M+

S-LRATIO SALES INVENTORY

2 2 100%

15 4 27%

70 24 34%

34 11 32%

17 12 71%

16 0 n/a

●

burnabynorth TOWNHOME-JUNE 2021

SALESTO LISTINGSRATIO 62% SELLER'SMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 8% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 8% VS2020

▲ 22% VS2020

▼ 10% VS2020

▲ 183% VS2020

Therewere55townhomelistingsinBurnabyNorthin June,14%belowMayand10%lowerthanJune2020. Junetownhomesalesdecreasedby15% month-over-month,to34,andwere183%aboveJune 2020. Thesales-to-listingratiofortownhomesinBurnaby North,at62%,reflectedaseler'smarket. ThetownhomemedianpriceinJunewas$775,000,a8% decreasefromMayand22%aboveJune2020. Theaveragesoldpricewas$780,601,3%belowlast month;theaveragePSFsalepricewas$616,down6%to lastmonth.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

34 55

12 61

214% 183% -10%

40 64

6% -3% -8% -1.1% -15% -14%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$616 $780,601 $775,000 62%

$569 $725,750 $637,500 20%

$580 $805,394 $846,500 63%

8% 8% 22%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2020 ● JUN 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

$847K

$818K

$800K

$775K

$768K

$761K

$749K

$725K

$718K

$683K

$660K

$638K

BURNABYNORTH REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

4+bdrms

86%

71%

3bdrms

48%

2bdrms

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

0 2 n/a

7 5 71%

23 11 48%

14 10 71%

7 6 86%

2 0 n/a

Copyright©July5,2021reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJuly5,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 15 ●

burnabynorth CONDO-JUNE 2021

SALESTO LISTINGSRATIO 39% SELLER'SMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 9% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 14% VS2020

▲ 18% VS2020

▼ 0.3% VS2020

▲ 79% VS2020

Therewere292condolistingsinBurnabyNorthinJune, 3%aboveMayand-0.3%lowerthanJune2020.

Junecondosalesdecreasedby21%month-over-month, to113,andwere79%aboveJune2020.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No. 50% 143 284

%Change

Thesales-to-listingratioforcondosinBurnabyNorth,at 39%,reflectedaseler'smarket.

TOTALLISTINGS TOTALSALES

39% 113 292

$696 $555,305 $525,000 22% 63 293

9% 14% 18% 80% 79% -0.3%

-1.6% -0.9% 0.8% -23% -21% 3%

ThecondomedianpriceinJunewas$617,000,a0.8% increasefromMayand18%aboveJune2020. Theaveragesoldpricewas$635,395,0.9%belowlast month;theaveragePSFsalepricewas$759,down1.6% tolastmonth.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$759 $635,395 $617,000

$771 $641,398 $612,000

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 2020 ● JUN 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

379

414

407

400

323

312

343

324

273

293

292

284

182 275

201

102

143

129

$649K

$625K

$617K

$608K

$613K

$612K

$598K

$587K

$590K

$582K

$560K

$559K

$525K

BURNABYNORTH REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

100

4+bdrms

90%

3bdrms

50%

41%

24%

2bdrms

20%

18%

208

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

10 9 90%

97 40 41%

86 43 50%

75 18 24%

11 2 18%

7 0 n/a

5 1 20%

1 0 n/a

Copyright©July5,2021reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJuly5,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 16 ●

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