highlights • In October, detached and townhome median prices rose on a month-over-month basis (by 1.6% and 5%, respectively), while those of condos fell by 1.4%. • Overall, October’s median sales price was up by 2% compared to this time last year. This is largely a function of the year-over-year jump in detached and townhome counts in the overall mix of sales, as only townhome median prices rose over the past year (by 1.3%). Detached and condo prices remained 3% and 4% lower, respectively. • The detached-to-townhome price ratio reached its lowest level since December 2018 (1.69), while the townhome-to-condo price ratio reached its highest level since December 2018 (1.33). This reflects the recent strength of the townhome market.
median prices THE RENNIE ADVANCE
OCTOBER 2019
$1,600,000
$1.30 M
October
$1,200,000
vs Sep 2019 1.6% vs Oct 2018 3%
$800,000
DETACHED median sales price
$400,000
$0
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
$1,000,000
October
$770,000
$800,000
$600,000
vs Sep 2019 5%
$400,000
vs Oct 2018 1.3%
TOWNHOME median sales price
$200,000
$0
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
$800,000
October
$580,000
$600,000
vs Sep 2019 1.4% vs Oct 2018 4%
$400,000
CONDO median sales price
$200,000
$0
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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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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