the rennie advance - January 2020

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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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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