the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION
published May 2020
table of contents
02 INTRO
Each month, we release the rennie review, a detailed look at the real estate marketplace in Vancouver and the Lower Mainland. This report examines the market stats by neighbourhood, current rennie projects, and more.
03 WHAT YOU NEED TO KNOW
04 FEATURED LISTINGS
NEIGHBOURHOOD PROFILES
05 08 11 14 17 20 23 26 29 32 35 38 41 44
Vancouver Region
Greater Vancouver Board Area
Burnaby North Burnaby South
Coquitlam
Fraser Valley Board Area
Andrew Ramlo VP Intelligence aramlo@rennie.com
Ryan Berlin Senior Economist rberlin@rennie.com
Langley
North Vancouver
Richmond Squamish
Surrey
Vancouver East Vancouver West West Vancouver
46 CURRENT PROJECTS
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of January 6, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 2
a new pace for housing supply and demand
The voluntary shutdown of much of our economy has reduced employment across the country and slowed real estate activity in the Vancouver region. While current conditions are expected to prevail for the next few months, they are temporary.
because the inventory (supply) of available homes also fell, by 34% (on a year-over- year basis). As with sales, each home type experienced a similar drop in supply, ranging from a 30% drop in condo inventory to a 36% drop in the supply of detached homes and townhomes. For now, this feature of our current circumstances differs fromwhat we might expect to see during a traditional economic downturn--an increase in homes available for sale--thanks to well-functioning credit markets and the financial support being provided to businesses and households by different levels of government. With benchmark prices rising by 0.3% in April versus March, prices have remained stable. Looking ahead, we expect this new “reduced” equilibrium to prevail in the short-term, with buyers and sellers slowly re-entering the market in the coming months. While we remain in the throes of this figurative boxing match, as we progress from one round to the next we remain confident in our collective ability to come out on top.
accommodation & food services (i.e. hotels and restaurants) and retail &wholesale trade together have accounted for 52% of jobs losses, compared to normally representing 24% of total jobs. Among other things, these features of the changing employment landscape underscore the importance of the extraordinary fiscal and monetary policy responses aimed at supporting Canadians as we navigate this temporary downturn. In light of these changes, it wasn’t surprising that MLS sales counts were down in the Vancouver region in April: overall, sales were 43% lower than the same month last year, ranging from detached sales that were 39% lower to condo sales that were down by 48%. Despite this regularly-cited decline in demand, it is important to acknowledge that the market has remained relatively balanced. This is
In last month’s rennie review commentary, we likened our challenge of managing the economy through these unprecedented times to being in a heavyweight boxing match that is all but guaranteed to go 12 rounds. We are currently only a few rounds in and, as expected, we’re absorbing body blows in the form of employment and housing metrics that are more dramatic than they are unexpected, describing an economy that slowed measurably last month. For employment, it is the composition of job losses that is arguably more compelling than the never-been-seen-before magnitude of the overall decline. More specifically, but briefly: persons under the age of 30 accounted for 45% of total provincial job losses over the past two months, compared to representing only 24% of total employment; part-time positions accounted for 43% of the total job decline in BC, while representing 23% of total jobs; and
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of January 6, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 3
featured listings SEARCH FOR THE HOME YOU LOVE AT RENNIE.COM
35 Park West $2,325,000 | VAN WEST 505-4963 Cambie Street 3 Bed, 1,372 SF Salina Kai PREC* 604.773.7013
House $1,998,000 | COQUITLAM 2230 Sorrento Drive 7 Bed, 5,542 SF Charlie Kim PREC* 604.767.1531
Flagship $1,598,000 | YALETOWN 1705-8 Smithe Mews 2 Bed, 1,252 SF
Derek Kai PREC* 604.868.1666
The Grace
House
Townhome
$1,598,000 | YALETOWN 602-1280 Richards Street 2 Bed, 1,344 SF
$1,450,000 | VAN EAST
$1,399,000 | FAIRVIEW
3133 Parker Street 6 Bed, 2,353 SF
2228 Willow Street 2 Bed, 1,392 SF Phil Chang PREC* 604.754.6678
Deanna Lythgo PREC* 778.840.3170
Lorenzo Daminato PREC* 604.657.8121
The Village
House
Townhome
$1,288,000 | FALSE CREEK 704-1625 Manitoba Street 2 Bed, 901 SF
$1,098,000 | COQUITLAM
$989,000 | BURNABY 101-2378 Alpha Avenue 2 Bed, 1,378 SF
2972 Lotus Court 3 Bed, 1,949 SF Paul Wong 604.716.0483
Ross Leathley 604.802.5468
Simon Lai PREC* 778.881.3603
The Five Points $779,000 | NORTH VAN
Townhome
Vancouver House $759,000 | DOWNTOWN 2210-1480 Howe Street 1 Bed, 482 SF
$785,000 | LANGLEY
408-711 W 14th Street 2 Bed, 870 SF
6954-208a Street 4 Bed, 2,119 SF Sora Chung 604.809.5162
Sora Chung 604.809.5162
Mike Ross 778.987.8874
The Met
Townhome
Regency Park Towers $494,000 | ABBOTSFORD
$599,900 | BURNABY 701-6588 Nelson Avenue 1 Bed, 611 SF
$549,900 | SURREY 40-16228 16 Avenue 4 Bed, 1,668 SF Brandon Blue PREC* 604.999.7792
1101-3190 Gladwin Road 2 Bed, 1,234 SF
Tracy Lam PREC* 778.688.8035
Matthew Allen 604.997.6872
Spuraway Gardens $485,000 | WEST VAN 1257-235 Keith Road 1 Bed, 740 SF Mike Ross 778.987.8874
Sequel 138 $478,000 | CHINATOWN 201-138 E Hastings Street 1 Bed, 677 SF Disa Lim 604.880.8604
Strathcona Edge $419,900 | CHINATOWN 205-663 Gore Avenue 1 Bed, 517 SF Danny Chow PREC* 604.765.2469
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 May 5, 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 APRI L vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
36 % DOWN
39 % DOWN
3 % UP
-
10 %
The number of detached listings in the Vancouver Region in April, at 6,589, were 6% lower month- over-month and 36% lower year-over-year. With 689 in April, detached sales were 54% below last month and 39% lower vs last year. The sales-to-listings ratio decreased to 10%, as the Vancouver Region’s detached market transitioned to buyer’s market territory. The benchmark price in April was $1.26M, increasing 0.6% fromMarch and 3% above April 2019. The average sold price was $1.38M, down 5% from the previous month but 3% above April 2019.
VS
VS
VS
VS
VS
BUYER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
6,589
7,005 1,501
-6%
10,331 1,124
-36% -39%
TOTAL SALES
689 10%
-54% -51%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
21%
11%
-4%
$1,260,500 $1,252,900 0.6% $1,228,000
3% 3%
$1,376,993 $1,443,811
-5% $1,333,191
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.26
$1.23
$1.23
$1.22
$1.22
$1.21
$1.21
1.83
1.83
1.83
11,133 10,472
10,331
9,480
1.03
1.02
1.02
6,992
6,589
6,163
1,614
1,329
1,280
1,265
1,124
1,122
689
Apr-19
Mar-20
Apr-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 May 5, 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 APRI L vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
0.8 % UP
43 % DOWN
0.8 % UP
36 % DOWN
BALANCED 18 %
The number of townhome listings in the Vancouver Region decreased 6% from last month, settling at 2,171, and were 36% below April 2019. Townhome sales, at 393, were 50% lower vs last month and 43% below April 2019. The sales-to-listings ratio fell to 18% in April, as the Vancouver Region’s townhome segment transitioned to a balanced market. The benchmark price in April was 0.6% above March, at $687,200, and was 2% higher year-over-year. The average sold price was $701,017 in April, (decreasing 4% vs March) while the average PSF sales price was $469 (decreasing 3%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
2,171
2,305
-6%
3,374
-36% -43% -12% 0.8% 0.8% 2%
TOTAL SALES
393 18%
793 34%
-50% -47%
694 21%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$687,200 $683,100 $701,017 $732,447
0.6% $672,800 -4% $695,415
$469
$484
-3%
$465
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$672,800 $669,400 $666,000 $668,900 $670,500 $677,500 $687,200
3,717
3,515
3,374
3,150
2,289
2,171
1,974
860
694
678
667
665
579
393
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
90
4+ bdrms
BUYER'S MARKET
421
197
3 bdrms
1,147
106
<3 bdrms
. . . . 0 0 0 0
603
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 May 5, 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 APRI L vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE 4 % UP
BENCHMARK PRICE 2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
48 % DOWN
4 % UP
30 % DOWN
BALANCED 12 %
There were 5,364 condo listings in the Vancouver Region in April, 4% belowMarch and 30% lower vs April 2019. April condo sales decreased by 57% month-over- month and were 48% below April 2019. The sales-to-listings ratio for condos in the Vancouver Region fell to 12%, transitioning to a balanced market. The condo benchmark price in April was $670,900, relatively unchanged fromMarch and 2% higher vs April 2019. The average sold price was $599,694, 5% below last month; the average PSF sales price was $704, down 4% from last month.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
5,364
5,580 1,513
-4%
7,701 1,257
-30% -48% -25%
TOTAL SALES
658 12%
-57% -55%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
27%
16%
$670,900 $671,600 $599,694 $632,562
-0.1% $656,200 -5% $578,132
2% 4% 4%
$704
$734
-4%
$675
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$656,200 $643,100 $642,100 $639,300 $642,400 $660,700 $670,900
7,949
7,701
7,208
6,593
5,197
5,364
4,291
1,797
1,449
1,376
1,361
1,273
1,257
658
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
27
3+ bdrms
BUYER'S MARKET
582
389
2 bdrms
3,114
242
<2 bdrms
. . . . 0 0 0 0
1,668
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 May 5, 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 APRI L greater vancouver board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
39 % DOWN
33 % DOWN
2 % DOWN
-
10 %
Detached listings in the REBGV decreased to 3,985 in April, 7% belowMarch and 39% lower vs April 2019. Detached sales, at 393, decreased 54% compared to March and were 33% lower vs April 2019. The sales-to-listings ratio fell to 10%, as the REBGV detached market transitioned to buyer’s market territory. The detached benchmark price in April was $1.46M, increasing 0.8% month-over-month and a 2% increase year-over-year. The average sold price was $1.60M, down 7% from the previous month and 2% lower year-over-year.
VS
VS
VS
VS
VS
BUYER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
3,985
4,277
-7%
6,525
-39% -33% 10%
TOTAL SALES
393 10%
861 20%
-54% -51%
584
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
9%
$1,462,100 $1,450,700 0.8% $1,429,500
2%
$1,597,608 $1,709,587
-7% $1,632,692
-2%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.46
$1.43
$1.43
$1.42
$1.42
$1.41
$1.41
1.84
1.83
1.83
6,831
6,525
6,333
5,774
1.16
1.16
1.15
4,292
3,985
3,844
945
760
711
684
603
584
393
Apr-19
Mar-20
Apr-20
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES
TOTAL INVENTORY
S L RATIO
. . . 0 0 0 0 0 S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of May 5, 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 APRI L
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
38 % DOWN
39 % DOWN
1.3 % DOWN
1.7 % DOWN
BALANCED 16 %
The number of townhome listings in the REBGV fell to 1,234 in April, 6% belowMarch and 38% lower year-over-year. Townhome sales in April, at 193, were down 53% vs March and were 39% below last year. The sales-to-listings ratio decreased to 16% as the REBGV townhome market became balanced. The townhome benchmark price in April was $796,800, increasing 0.6% fromMarch and 3% higher than in April 2019. The average sold price was $818,950, with an average PSF sales price of $572 (down 4% and 3%, respectively, vs March).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,234
1,308
-6%
1,994
-38% -39% -1.3% -1.3% -1.7% 3%
TOTAL SALES
193 16%
409 31%
-53% -50%
316 16%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$796,800 $791,800 $818,950 $855,744
0.6% $775,000 -4% $829,845
$572
$591
-3%
$582
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$775,000 $774,700 $771,900 $771,600 $778,400 $785,000 $796,800
2,157
1,996
1,994
1,790
1,309 1,234
1,131
465
345
341
340
316
293
193
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
43
4+ bdrms
BUYER'S MARKET
219
97
3 bdrms
653
53
<3 bdrms
. . . . 0 0 0 0
362
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 May 5, 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 APRI L
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
43 % DOWN
0.8 % UP
0.9 % UP
33 % DOWN
BALANCED 13 %
The number of condo listings in the REBGV decreased to 4,000 in April, 5% belowMarch and 33% below April 2019. At 508, condo sales were 57% lower month-over- month and 43% lower year-over-year. The sales-to-listings ratio decreased to 13%, as the REBGV condo market transitioned to balanced market territory. The condo benchmark price in April was $685,500, relatively unchanged fromMarch and up 3% com- pared to April 2019. The average sold price was $661,739 (decreasing 5% fromMarch) with an average PSF sales price of $777 (4% lower vs March).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
4,000
4,190 1,182
-5%
6,011
-33% -43% -14% 0.8% 0.9% 3%
TOTAL SALES
508 13%
-57% -55%
884 15%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
28%
$685,500 $687,000 $661,739 $699,068
-0.2% $667,500 -5% $656,774
$777
$808
-4%
$770
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$667,500 $654,700 $654,000 $652,500 $656,700 $677,200 $685,500
6,224
6,011
5,632
5,061
4,000
3,939
3,287
1,387
1,119
1,063
1,049
945
884
508
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
25
3+ bdrms
BUYER'S MARKET
508
290
2 bdrms
2,203
193
<2 bdrms
. . . . 0 0 0 0
1,289
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 May 5, 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 APRI L burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 6 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
57 % DOWN
42 % DOWN
1.5 % UP
-
BALANCED 15 %
The number of detached listings in Burnaby North in April, at 96, were 10% lower month-over-month and 57% lower year-over-year. With 14 in April, detached sales were 17 below last month and 10 lower vs last year. The sales-to-listings ratio decreased to 15%, as Burnaby North’s detached market transitioned to balanced territory. The benchmark price in April was $1.47M, increasing 1.2% fromMarch and 6% above April 2019. The average sold price was $1.48M, down 5% from the previous month but 2% above April 2019.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 107
% Change
No. 225
% Change
TOTAL LISTINGS
96 14
-10% -55% -50%
-57% -42% 37%
TOTAL SALES
31
24
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
15%
29%
11%
$1,470,100 $1,453,100 1.2% $1,392,600
6%
$1,480,464 $1,558,386
-5% $1,458,500 1.5%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.47
$1.42
$1.40
$1.39
$1.39
$1.38
$1.37
2.02
2.00
1.96
239
225
212
167
1.18
1.17
1.16
110
96
96
49
32
30
24
24
23
14
Apr-19
Mar-20
Apr-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 May 5, 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 APRI L burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
69 % DOWN
9 % UP
0.4 % UP
26 % DOWN
BUYER’S 8 %
The number of townhome listings in Burnaby North increased 23% from last month, settling at 53, but were 26% below April 2019. Townhome sales, at 4, were 14 lower vs last month and 9 below April 2019. The sales-to-listings ratio fell to 8% in April, as Burnaby North’s townhome segment transitioned to a buyer’s market. The benchmark price in April was relatively unchanged fromMarch, at $727,100, and was 3% above April 2019. The average sold price was $729,500 in April, (increasing 4% vs March) while the average PSF sales price was $490 (decreasing 9%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
53
43 18
23% -78% -82%
72 13
-26% -69% -58%
TOTAL SALES
4
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
8%
42%
18%
$727,100 $727,700 $729,500 $703,017
-0.1% $709,200 4% $666,385
3% 9%
$490
$541
-9%
$488
0.4%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$709,200 $725,500 $721,500 $723,900 $724,200 $727,700 $727,100
76
75
72
66
53
48
42
22
20
17
16
13
13
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
1
4+ bdrms
BUYER'S MARKET
7
2
3 bdrms
22
1
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD QD QD
24
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 May 5, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
12
CONDO APRI L burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE 3 % UP
BENCHMARK PRICE 1.2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
53 % DOWN
9 % DOWN
23 % DOWN
BUYER’S 8 %
There were 242 condo listings in Burnaby North in April, 1.7% above March but 23% lower vs April 2019. April condo sales decreased by 73% month-over- month and were 53% below April 2019. The sales-to-listings ratio for condos in Burnaby North fell to 8%, transitioning to a buyer’s market. The condo benchmark price in April was $619,100, relatively unchanged fromMarch and 1.2% higher vs April 2019. The average sold price was $577,184, 6% below last month; the average PSF sales price was $688, down 4% from last month.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 238
% Change
No. 316
% Change
TOTAL LISTINGS
242
1.7% -73% -74%
-23% -53% -38% 1.2%
TOTAL SALES
19 8%
71
40
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
30%
13%
$619,100 $616,500 $577,184 $616,499
0.4% $611,800 -6% $630,841
-9%
$688
$720
-4%
$670
3%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$611,800 $607,800 $601,700 $590,300 $598,500 $613,200 $619,100
331
316
310
280
242
205
147
92
74
63
54
54
40
19
BURNABY NORTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
BUYER'S MARKET
3+ bdrms
19
14
2 bdrms
156
5
<2 bdrms
. . . . 0 0 0 0 QD QD QD QD
67
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 May 5, 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 APRI L burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
41 % DOWN
65 % DOWN
1.5 % UP
-
1.9 % DOWN
6 %
There were 131 detached listings in the Burnaby South market area in April, 4% below last month and 41% lower vs April 2019. Detached sales fell by 24 month-over-month, to 8, and fell by 15 year-over-year. The sales-to-listings ratio decreased to 6%, as Burnaby South’s detached market transitioned to buyer’s market territory. The benchmark price in April was $1.50M, 0.6% above the previous month but a 1.9% decline vs last year. The average sold price for detached homes was $1.59M, 10% lower month-over-month but 1.5% higher year-over-year.
VS
VS
VS
VS
VS
BUYER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 136
% Change
No. 222
% Change
TOTAL LISTINGS
131
-4%
-41% -65% -41%
TOTAL SALES
8
32
-75% -74%
23
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
6%
24%
10%
$1,502,400 $1,493,500 0.6% $1,531,100 -1.9% $1,586,816 $1,761,335 -10% $1,562,761 1.5%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.53
$1.50
$1.50
$1.49
$1.48
$1.47
$1.47
1.99
1.94
1.93
242
225
222
206
1.16
1.14
1.13
147
131
127
30
26
23
21
21
19
8
Apr-19
Mar-20
Apr-20
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES
TOTAL INVENTORY
S L RATIO
SELLER'S MARKET
BALANCED
BUYER'S MARKET
. . . 0 0 0 0 0 QD QD QD QD QD QD
S-L RATIO SALES INVENTORY
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of May 5, 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 APRI L burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 1.5 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
7 % UP
17 % DOWN
60 % DOWN
0.0 %
SELLER’S 30 %
Townhome listings in the Burnaby South market area in April (at 40) were down 22% from last month and 60% below last year. The 12 townhome sales were 1 lower month-over- month and unchanged year-over-year. The sales-to-listings ratio rose to 30%, as Burnaby South’s townhome market continued to favour sellers. The benchmark price in April was $780,000, 1.5% higher month-over-month and year-over-year. The average sold price was $779,500 (relatively unchanged fromMarch) with an average PSF sales price of $524 (down 17% vs March).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
40 12
51 13
-22% -8% 18%
99 12
-60% 0.0% 148% 1.5%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
30%
25%
12%
$780,000 $768,400 $779,500 $780,568
1.5% $768,100 -0.1% $729,958
7%
$524
$631
-17%
$630
-17%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$768,100 $762,600 $767,000 $776,600 $762,600 $773,400 $780,000
113
104
99
84
49
47
40
23
18
18
14
13
12
12
BURNABY SOUTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
3
4+ bdrms
BUYER'S MARKET
2
5
3 bdrms
25
4
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD
13
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 May 5, 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 APRI L burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
11 % UP
42 % DOWN
41 % DOWN
0.3 % DOWN
0.8 % DOWN
BALANCED 14 %
The number of condo listings in Burnaby South, at 251, decreased 5% month-over-month and fell 42% vs last year. April’s condo sales, at 34, were 61% below last month and 41% lower than last year. The sales-to-listings ratio decreased to 14% in April, as Burnaby South’s condo segment transitioned to balanced market territory. The condo benchmark price in April was $673,700, relatively unchanged fromMarch and a 0.8% decrease from April 2019. The average sold price was $650,596 with an aver- age PSF sales price of $784 (relatively unchanged and 0.9% higher, respectively, vs March).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 264
% Change
No. 433
% Change
TOTAL LISTINGS
251
-5%
-42% -41% 1.1% -0.8%
TOTAL SALES
34
88
-61% -59%
58
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
14%
33%
13%
$673,700 $674,900 $650,596 $652,483
-0.2% $679,200 -0.3% $587,962
11%
$784
$777
0.9%
$786
-0.3%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$679,200 $666,200 $648,500 $645,300 $652,000 $678,200 $673,700
458
438
433
390
259
251
230
97
87
77
70
69
58
34
BURNABY SOUTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
2
3+ bdrms
BUYER'S MARKET
27
21
2 bdrms
166
11
<2 bdrms
. . . . 0 0 0 0 QD QD QD
58
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 May 5, 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
Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53Made with FlippingBook - professional solution for displaying marketing and sales documents online