highlights • The region’s inventory of available homes in December, at 7,778, fell below the 10,000-home threshold for the first time since March 2018 due to the robust pace of sales through the latter half of 2019. • On a year-over-year basis total inventory was down by 24% in December, with detached inventory down 27%, townhomes 19%, and condos 23%. • The 32% drop in total inventory between November and December 2019 was the largest relative decline in the available data (going back to January 2005). • While the month-over-month change in the sales-to-listings (S-L) ratio was minimal for detached homes (16% to 17%; balanced conditions) and townhomes (26% to 28%; sellers’ market), the S-L ratio for condos jumped 8 percentage points (28% to 36%; sellers’ market) in December.
total listings THE RENNIE ADVANCE
DECEMBER 2019
0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000
10yr Dec Avg 4,181
3,527
vs Dec 2018 27%
DETACHED listings
vs 10yr Dec Avg 16%
December
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
3,000
2,500
2,000
1,500
10yr Dec Avg 1,148
1,043
1,000
TOWNHOME listings
vs Dec 2018 19%
December
500
vs 10yr Dec Avg 9%
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 Dec Avg 3,894
2,958
vs Dec 2018 23%
CONDO listings
December
vs 10yr Dec Avg 24%
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 January 2, 2020. All data from RealEstateBoardof 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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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