the rennie advance A BRIEF UPDATE ON THE LATEST SALES, LISTINGS, AND MEDIAN SALE PRICES ACTIVITY
published June 2020
THE RENNIE ADVANCE
table of contents
The rennie advance is a summary of the latest sales, listings, and price trends in the Greater Vancouver board area. It is produced at the beginning of each month and it reflects the very latest market data. On behalf of the rennie intelligence team, we hope you find it useful and informative.
2 I N T R O
3 S A L E S
4 T O T A L L I S T I N G S
Andrew Ramlo VP Intelligence aramlo@rennie.com
Ryan Berlin Senior Economist rberlin@rennie.com
5 P R I C E S
6 R E N N I E I N T E L L I G E N C E
highlights • Year-over-year sales once again fell across the Greater Vancouver board area in May, with the 1,499 total sales down 43% versus May 2019’s count. Sales of detached homes fell by 40%, townhomes by 36%, and condos by 47%. • That said, May’s sales were up 34% compared to April—contrasting with the average April- to-May sales increase of 7% seen over the past decade. The month-over-month gain was realized across all home types with detached up 39% (compared to the past decade average increase of 8%), townhomes up 36% (compared to 5%), and condos up 29% (compared to 6%). • Compared to the past-decade average, May’s sales were lower by between 49% (for townhomes) and 60% (for detached homes).
sales THE RENNIE ADVANCE
MAY
0D\
\U0D\$YJ YV\U0D\ DYJ
YV0D\
DETACHED sales
YV\U0D\ $YJ
0D\
YV0D\
\U0D\$YJ
TOWNHOME sales
0D\
YV\U0D\ $YJ
YV0D\
\U0D\$YJ
CONDO sales
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 June 2, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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.
highlights • Total listings in the Greater Vancouver board area were lower on a year-over-year basis for the 8th consecutive month in May (by 35%). Detached inventory was down 39%, townhomes were down 38%, and condos were down 29%. • May’s 10,096 total listings were 2% higher than in April. Detached and condo inventories were up by 0.5% and 3%, respectively, while townhome inventory declined by 1.6%. • The Greater Vancouver board area’s sales-to-listings (S-L) ratio increased between April and May, reflecting a balanced market for all home types (the S-L ratio was 13% for detached homes, 20% for townhomes, and 15% for condos in May).
total listings THE RENNIE ADVANCE
MAY
YV0D\
\U0D\$YJ
YV\U0D\ $YJ
DETACHED listings
0D\
YV0D\
\U0D\$YJ
YV\U0D\ $YJ
TOWNHOME listings
0D\
YV 0D\
\U0D\$YJ
YV\U0D\ $YJ
CONDO listings
0D\
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of June 2, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
highlights • Month-over-month median price changes were mixed in May, with the median sales price of detached homes declining (by 0.4%) while increasing for townhomes (by 1.3%) and condos (by 0.2%). • When compared to May 2019, median prices were up for all home types: by 2% for detached homes, by 4% for townhomes, and by 0.9% for condos. May marked the 5th consecutive month where each home type has seen a year-over-year increase in its median price. • The detached-to-townhome price ratio fell for a fourth straight month in May, to 1.73—a change favouring up-sizers. Conversely, the townhome-to-condo price ratio rose for a 4th straight month, to 1.34—a change favouring down-sizers in multi-family housing.
median prices THE RENNIE ADVANCE
MAY
0
0D\
YV$SU
YV 0D\
DETACHED median sales price
0D\
YV$SU
YV 0D\
TOWNHOME median sales price
0D\
YV$SU
YV 0D\
CONDO median sales price
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 June 2, 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.
THE RENNIE ADVANCE
the data behind rennie .
The rennie intelligence team is composed of our in-house demographer, senior economist, and market analysts. Together, they empower our developer clients, rennie advisors, institutional advisory clients, and the entire rennie team with comprehensive data and a trusted market perspective. With data as the backbone to our thoughtful real estate practice, we help our clients form and execute sound, well-considered plans to achieve their goals.
Reach out to your rennie representative to learn more and to receive these publications on a regular basis, or visit us at intelligence.rennie.com
REPRODUCTION OF THIS REPORT IN WHOLE OR IN PART WITHOUT PERMISSION OF RENNIE IS PROHIBITED. BRIEF EXTRACTS FOR REVIEW PURPOSES MAY BE MADE WITH DUE ACKNOWLEDGMENT OF THE SOURCE. THE INFORMATION CONTAINED IN THIS REPORT HAS BEEN COMPILED FROM SOURCES BELIEVED TO BE RELIABLE BUT THE ACCURACY OF THE INFORMATION IS NOT GUARANTEED. E&OE
Page 1 Page 2 Page 3 Page 4 Page 5 Page 6Made with FlippingBook - professional solution for displaying marketing and sales documents online