the rennie advance - June 2019

highlights • On a month-over-month basis, the median sales price in the Greater Vancouver board area was unchanged for detached homes, down 2% for townhomes, and was 0.1% lower for condos. Due to the changing composition of sales between April and May, however, the overall median price for all types was actually up by 3%. • On a year-over-year basis, median sales prices remained lower in May 2019 for all home types: by 11% for detached, by 9% for townhomes, and by 7% for condos compared to May of 2018. • The ratio of detached-to-townhome prices increased in May 2019, rising from 1.72 to 1.76 (favouring downsizers); meanwhile, the townhome-to-condo price ratio fell from 1.32 to 1.29 (favouring upsizers).

median prices THE RENNIE ADVANCE

MAY 2019

$1,600,000

$1.31 M

May

$1,200,000

vs Apr 2019 0.0%

$800,000

vs May 2018 11%

DETACHED median sales price

$400,000

$0

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

$1,000,000

May

$743,000

$800,000

vs Apr 2019 2%

$600,000

$400,000

vs May 2018 9%

TOWNHOME median sales price

$200,000

$0

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

$800,000

May

$575,000

$600,000

vs Apr 2019 0.1%

$400,000

vs May 2018 7%

CONDO median sales price

$200,000

$0

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

CurrentasofJune3,2019.Alldata from theRealEstateBoardofGreaterVancouver.The informationsetoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent, warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipient of the informationshould takestepsas the recipientmaydeemnecessary toverify the informationprior toplacingany relianceupon the information.The informationmaychangeany timewithoutnoticeorobligation to the recipient fromRAR&RMS.

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