highlights • Inventory, which was already constrained heading into the month of August, fell further to 12,745 listings, representing the fewest in any August on record (going back 35 years). Inventory was down relative to August 2020 (by 37%), the long-run August average (by 40%), and July 2021 (by 16%). Typically, listings register a 1.7% decline between July and August. • Listings were down for all home types. The townhome segment of the market continues to be the most constrained, with listings down 53% versus last year and the long-run average, and by 23% versus last month. Detached homes and condos also posted double-digit declines in listings from the previous month. • The sales-to-listings (S-L) ratio trended further into sellers’ market territory in August, reaching 40%. For detached homes the S-L ratio was 30%, for townhomes it was 72%, and for condos it was 45%.
total listings THE RENNIE ADVANCE
AUGUST 2021
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DETACHED listings
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TOWNHOME listings
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CONDO listings
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Copyright © 2021 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 September 2, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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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