highlights • Robust sales activity, combined with limited new listings, resulted in an inventory contraction in December, marking the 15th straight month of year-over-year inventory reductions. Overall, total listings in the Vancouver Region were 11% lower than in December 2019, with detached listings down 31% and townhome listings 25% lower. Conversely, condo inventory was 23% higher than one year ago. • Compared to the past-decade December average, last month’s inventory was 21% lower, driven by detached and townhome listings that were down 39% and 26%, respectively. Condo inventory was 7% higher than the long-run average. • The 45% sales-to-listings (S-L) ratio for the Vancouver Region in December was the highest for any December in the region’s history, reflecting strongly favourable conditions for sellers. Similar conditions prevailed in the markets for each home type, with the S-L ratio for detached homes at 47%, for townhomes at 68%, and for condos at 37%.
total listings THE RENNIE ADVANCE
DECEMBER
10,000 12,000 14,000 16,000
vs Dec 2019 31%
0 2,000 4,000 6,000 8,000
10yr Dec Avg 7,026 vs 10yr Dec Avg 39%
DETACHED listings
4,285
December
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500
10yr Dec Avg 2,001 vs 10yr Dec Avg 26%
1,476
TOWNHOME listings
December
vs Dec 2019 25%
0 500
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
12,000
10,000
8,000
6,000
5,280
10yr Dec Avg 4,933 vs 10yr Dec Avg 7%
4,000
CONDO listings
vs Dec 2019 23%
December
2,000
0
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
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 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.
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