highlights • Total inventory in the Greater Vancouver board area was down 12% on a year- over-year basis in October. This is the largest year-over-year contraction since August 2016, when total inventory was down 17% versus the previous year. • Listings were down for all home types: by 18% for detached, by 2% for townhomes, and by 7% for condos. On a month-over-month basis detached inventory fell by 10%, townhomes by 12%, and condos by 14%. • After rising from 17% to 23%, the overall sales-to-listings (S-L) ratio now reflects conditions favourable to sellers. The detached market remains balanced (with the month-over-month S-L ratio rising from 12% to 17%), while the townhome segment joined condos as sellers’ markets (with their respective S-L ratios rising to 28% and 30%, respectively).
total listings THE RENNIE ADVANCE
OCTOBER 2019
0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000
vs Oct 2018 18%
10yr Oct Avg 6,282
5,520
vs 10yr Oct Avg 12%
DETACHED listings
October
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
3,000
2,500
2,000
10yr Oct Avg 1,709
1,662
1,500
vs Oct 2018 2%
vs 10yr Oct Avg 3%
1,000
TOWNHOME listings
October
500
0
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000
10yr Oct Avg 5,640
4,693
vs Oct 2018 7%
vs 10yr Oct Avg 17%
CONDO listings
October
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Copyright © 2019 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 November 4, 2019. All data from RealEstateBoard ofGreaterVancouverandFraserValley & 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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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