the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 14 SUB-MARKETS IN THE VANCOUVER REGION
published December 2022
table of contents
02 INTRO
Each month, we release the rennie review, a detailed look at the real estate marketplace in the Vancouver Region. This report examines the market stats by sub-market, provides updates on current rennie projects, and more.
03 WHAT YOU NEED TO KNOW
04 FEATURED LISTINGS
NEIGHBOURHOOD PROFILES
05 08 11 14 17 20 23 26 29 32 35 38 41 44 47 48 51
Vancouver Region
Greater Vancouver Board Area Fraser Valley Board Area
Burnaby North Burnaby South
Ryan Berlin DIRECTOR OF INTELLIGENCE & SENIOR ECONOMIST rberlin@rennie.com
Ryan Wyse SENIOR ANALYST rwyse@rennie.com
Coquitlam
Langley
North Delta
New Westminster North Vancouver
Richmond Squamish
Surrey
Vancouver East
Vancouver Downtown
Vancouver West West Vancouver
53 AREA MAPS
56 CURRENT PROJECTS
Copyright © 2022 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 December 5, 2022. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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. 2
A market that’s waiting for something to happen
October’s inertia carried into November, with buyers remaining hesitant and sellers showing no signs of urgency. And while rising interest rates continue to constrain purchasing power and push home values down, there’s evidence that we’ll be entering a more stable, and active, market in the months ahead.
available homes to under 14,000 across the region (20% lower than is typical at this time of the year). As we’ve mentioned in past editions of the rennie review, this again highlights how rising interest rates have had a greater impact on the purchasing affordability of buyers than on the payment affordability of current owners. This latter dimension is more directly impacted by the labour market (if you have a job it’s generally easier to pay your mortgage; no job, and it’s usually more difficult), which has been characterized by a sub-5% unemployment rate since May. As such, it’s not a huge surprise that new listings were down 23% last month versus one year ago (when the unemployment rate was above 6%). With December’s market conditions unlikely to look much different from November’s (or October’s…or September’s…), we’re looking to the new year for a change of pace. A likely halt to further rate hikes will serve to stabilize the demand side of Vancouver’s housing market, setting the stage for what promises to be a more active spring.
In last month’s rennie review, we predicted that November’s MLS sales counts for the Vancouver Region would max out below 3,000; that is what ultimately transpired, with our market tallying 2,407 sales during the month. This was down 55% (!) from 2021’s record November count of more than 5,300 sales, 13% lower than October 2022 (versus a typical seasonal drop of 10%), and 39% below the past-decade November average. Now a week into December, and Vancouver’s market is on pace for fewer than 2,400 sales, which would mark the first time in a decade that the region has strung together 6 straight months of sub- 3,000 transactions. Demand continues to be hampered by both rising borrowing costs and the uncertainty around when interest rates will stop climbing, though the Bank of Canada just
this week indicated—after raising its trend- setting rate by another 50 basis points—that the end of this cycle of monetary tightening is likely near. On the backs of both buyer scarcity and evermore expensive money, the overall composite benchmark price in the Vancouver Region fell by 1.7% between October and November, marking the seventh straight month of declining home values. Prices for all home types fell month-to-month into November, pushing them closer to last year’s levels: condo and townhome prices are now only 4% and 3%, respectively, higher than they were one year ago, while that of detached homes is 3% lower. Prices would certainly be lower than they are—that is, they would have fallen faster—if it were not for the continued vice on supply, which held the total number of
Copyright © 2022 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 December 5, 2022. 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. 3
featured listings SEARCH FOR THE HOME YOU LOVE AT RENNIE.COM
House
House
House
$3,990,000 | POINT GREY
$7,498,000 | WEST VAN
$2,775,000 | SQUAMISH 11 - 3385 Mamquam Road 5 Bed, 4,177 SF
4172 W. 15th Avenue 5 Bed, 2,852 SF
611 Glenmaroon Road 6 Bed, 9,086 SF Jason Soprovich 604.817.8812
Cina Moallef 778.862.0128
Salina Kai PREC* 604.773.7013
Artemisia
House
House
$2,599,900 | DOWNTOWN
$2,400,000 | BOWEN ISLAND
$1,910,000 | SQUAMISH
403 - 1102 Hornby Street 3 Bed, 2,139 SF Jenna Van Alstine 778.558.3355
1565 Douglas Road 3 Bed, 2,370 SF Natalie Genest PREC* 604.928.7330
39453 Cardinal Drive 4 Bed, 2,433 SF
Belinda Grant 604.906.2099
The Laurels
Mariner
House
$1,799,000 | NORTH VAN
$1,349,000 | YALETOWN 1502 - 918 Cooperage Way 2 Bed, 928 SF
$1,899,999 | MAPLE RIDGE
C - 1133 E. 29th Street 3 Bed, 3,195 SF Charlie Kim PREC* 604.767.1531
9497 Byrnes Road 3 Bed, 2,940 SF
Rob Breckwoldt PREC* 604.459.7778
Danny Chow PREC* 604.765.2469
Epic
Boardwalk Four $834,900 | LADNER 23 - 4408 Cormorant Way 3 Bed, 1,302 SF
Polaris
$899,000 | FALSE CREEK 1403 - 1788 Columbia Street 2 Bed, 708 SF
$1,310,000 | BURNABY SOUTH 3507 - 6699 Dunblane Avenue 3 Bed, 1,015 S
Derek Kai PREC* 604.868.1666
Lorenzo Daminato PREC* 604.657.8121
Allison Lafrenier 604.612.127
Minoru Square
Strathcona Village $779,000 | STRATHCONA 712 - 933 E. Hastings Street 2 Bed, 759 SF
The Bordeaux
$832,900 | RICHMOND 1201 - 5740 Minoru Boulevard 2 Bed, 675 SF
$649,900 | PORT COQUITLAM
401 - 2468 Atkins Avenue 2 Bed, 958 SF
Ester Hsieh PREC* 778.552.4921
Calvin Kan PREC* 604.616.8373
Geevan Dhesi 604.866.7192
Wall Centre Central Park - Tower 3 $555,000 | COLLINGWOOD 3110 - 5470 Ormidale Street
Peregrine $499,900 | LADNER 201 - 1792 Starling Drive 1 Bed, 660 SF Joanne Hoekstra 604.722.6645
The Columbia $538,800 | NEW WEST 1306 - 258 Nelson’s Court 1 Bed, 562 SF
1 Bed, 504 SF Daniel Lee 604.910.3931
Eric Zamora PREC* 778.389.4556
Copyright © 2022 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 December 5, 2022. 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.
4
vancouverregion DETACHED -NOVEMBER 202
SALES TO LISTINGSRATIO 14% BALANCEDMARKET
▶ MARKETSUMMARY Therewere5,906 detached listingsin theVancouver Region in N ovem ber,8% below O ctoberand 41% higher than N ovem ber2021. N ovem berdetached hom esalesdecreased by11% m onth-over-m onth,to 804,and were55% below N ovem ber2021. Thesales-to-listing ratio fordetached in the Vancouver Region,at14% ,reflected abalanced m arket. Thedetached m edian pricein N ovem berwas $1,499,950,a2% decreasefrom O ctoberand 11% below N ovem ber2021. Theaveragesold pricewas$1,730,499,6% below last m onth and down 12% toN ovem ber2021.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 12% VS 2021
▼ 11% VS 2021
▲ 41% VS 2021
▼ 55% VS 2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
14% 804 5,906
1,794 4,181
-12% -11% -68% -55% 41%
14% 907 6,451
-6% -2% -3% -11% -8%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$1,957,693 $1,686,075 43%
$1,840,635 $1,538,000
$1,730,499 $1,499,950
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
7,585
7,193
6,803
7,369
6,451
6,952
1.92
5,481
5,906
6,295
1.77
1.74
4,587
4,181
1.47
1.40
1.40
3,318
2,313
3,120 1,489
1,794
1,085
887
907
1,749
1,567
1,282
804
1,146
874
858
$1.83M $1.80M $1.73M $1.85M $1.89M
$1.69M $1.69M
$1.65M $1.60M $1.53M $1.52M $1.54M $1.50M
Nov-21
Oct-22
Nov-22
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
1500
1000
35%
33%
29%
500
22%
20%
14%
14%
6%
4%
0
<$600K
$600-799K
$800-999K
$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M
$2.0M -2.49M
$2.5M -2.99M
$3M+ 1,657 67 4%
S-L RATIO SALES INVENTORY
136 27 20%
82 24 29%
203 68 33%
366 127 35%
718 156 22%
1,324 189 14%
746 105 14%
674 41 6%
Copyright© Decem ber5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofDecem ber5,202 .Aldatafrom RealEstate BoardofGreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycan otbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.The recipientoftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
5
vancouverregion TOWNHOME-NOVEMBER 202
SALES TO LISTINGSRATIO 21% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere1,942 townhom elistingsin theVancouver Region in N ovem ber,8% below O ctoberand 100% higher than N ovem ber2021. N ovem bertownhom esalesdecreased by20% m onth-over-m onth,to 412,and were56% below N ovem ber2021. Thesales-to-listing ratio fortow nhom esin theVancouver Region,at21% ,reflected aselers'm arket. Thetownhom em edian pricein N ovem berwas$860,000, a1.1% decreasefrom O ctoberand 2% below N ovem ber 2021. Theaveragesold pricewas$924,306,3% below last m onth;theaveragePSF salepricewas$620,down 2.0% tolastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 4% VS 2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 3% VS 2021
▼ 2% VS 2021
▲ 100% VS 2021
▼ 56% VS 2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 97% 941 973
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
21% 412 1,942
-78% -56% 100%
24% 514 2,108
-2% -3% -1.1% -13% -20% -8%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$620 $924,306 $860,000
$632 $951,955 $870,000
$645 $954,801 $880,000
-4% -3% -2%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● NOV 2021 ● NOV 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
2,181
2,443
2,433
2,108
2,372
2,206
1,942
2,002
1,677
1,251
1,227
973
782
770
766
941
91
895
565
514
801
587
574
412
474
460
$990K $1.02M $1.00M
$983K $925K
$915K $894K $850K $850K $870K $860K
$880K $900K
VANCOUVERREGION REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
600
80
4+ bdrms
500
403
400
220
3 bdrms
1,055
300
200
30%
106
25%
22% 21%
2 bdrms
18%
440
100
7% 7%
2%
0
6
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
48 1 2%
127 32 25%
412 125 30%
592 133 22%
328 69 21%
191 34 18%
161 12 7%
7%
44
83 6
Copyright© Decem ber5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofDecem ber5,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 6 ●
vancouverregion CONDO -NOVEMBER 202
SALES TO LISTINGSRATIO 21% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere5,245 condolistingsin theVancouverRegion in N ovem ber,5% below O ctoberand 29% higherthan N ovem ber2021. N ovem bercondosalesdecreased by12% m onth-over-m onth,to1,124,and were54% below N ovem ber2021. Thesales-to-listing ratio forcondosin the Vancouver Region,at21% ,reflected aselers'm arket. Thecondom edian pricein N ovem berwas$625,000,a 1.6% decreasefrom O ctoberand 0.8% aboveN ovem ber 2021. Theaveragesold pricewas$704,892,1.3% below last m onth;theaveragePSF salepricewas$813,down 2% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 0.6% VS 2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 2% VS 2021
▲ 0.8% VS 2021
▲ 29% VS 2021
▼ 54% VS 2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
1,124 5,245
2,441 4,072
0.6% 2% 0.8% -64% -54% 29%
1,275 5,501
-2% -1.3% -1.6% -8% -12% -5%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$813 $704,892 $625,000 21%
$808 $690,571 $619,900 60%
$832 $714,001 $635,000 23%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● NOV 2021 ● NOV 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
5,368
5,647
5,245
5,561
5,501
5,473
5,205
4,077
4,072
4,682
3,620
3,16
2,966
2,441
2,769
2,055
2,382
2,244
2,007
1,310
1,275
1,730
1,733
1,124
1,418
1,174
$672K $695K $685K $680K
$667K $650K $640K $645K $621K $635K $625K
$620K $628K
VANCOUVERREGION REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
1400
4+ bdrms
1200
41
1000
67
800
3 bdrms
576
600
36%
31%
637
400
24%
2 bdrms
16% 18%
2,996
11%
200
7%
4%
0
420
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
283 102 36%
1,303 403 31%
1,434 343 24%
829 135 16%
399 72 18%
294 33 11%
291 21 7%
412 15 4%
1,632
Copyright© Decem ber5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofDecem ber5,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 7 ●
greatervancouverboard area DETACHED -NOVEMBER 202
SALES TO LISTINGSRATIO 14% BALANCEDMARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 8% VS 2021
▼ 8% VS 2021
▲ 24% VS 2021
▼ 51% VS 2021
Therew ere 3,574 detached listingsin the G reater Vancouverboard areain N ovem ber,9% below O ctober and 24% higherthan N ovem ber2021. N ovem berdetached hom esalesdecreased by16% m onth-over-m onth,to 486,and were51% below N ovem ber2021. Thesales-to-listing ratio fordetached in the G reater Vancouverboard area,at14% ,reflected abalanced market. Thedetached m edian pricein N ovem berwas $1,700,000,a0.9% decreasefrom O ctoberand 8% below N ovem ber2021. Theaveragesold pricewas$1,995,427,3% below last m onth and down 8% toN ovem ber2021.
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
14% 486 3,574
34% 985 2,875
-60% -51% 24%
15% 580 3,923
-3% -0.9% -8% -16% -9%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$2,065,246 $1,715,000
$1,995,427 $1,700,000
$2,176,235 $1,850,000
-8% -8%
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
4,463
4,236
4,19
3,923
4,338
4,154
1.85
3,574
3,254
1.79
3,714
1.68
2,875
2,799
1.54
1.54
1.41
2,264
2,21
1,297
1,005
985
580
956
792
794
486
655
621
530
523
532
$2.01M $2.00M $2.00M $1.90M
$1.85M
$1.85M $1.98M
$1.80M $1.74M $1.70M $1.68M $1.72M $1.70M
Nov-21
Oct-22
Nov-22
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
1400
1200
1000
800
600
35%
30%
400
23%
20%
19%
16%
200
11%
8%
5%
0
<$600K
$600-799K
$800-999K
$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M
$2.0M -2.49M
$2.5M -2.99M
$3M+ 1,285 62 5%
S-L RATIO SALES INVENTORY
46 5 11%
41 8 20%
90 21 23%
149 52 35%
304 90 30%
726 137 19%
471 75 16%
462 36 8%
Copyright© Decem ber5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofDecem ber5,202 .Aldatafrom RealEstate BoardofGreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycan otbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.The recipientoftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
8
greatervancouverboard area TOWNHOME-NOVEMBER 202
SALES TO LISTINGSRATIO 22% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 4% VS 2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 5% VS 2021
▼ 5% VS 2021
▲ 67% VS 2021
▼ 55% VS 2021
Therewere998 townhom elistingsin theG reater Vancouverboard areain N ovem ber,10% below O ctober and 67% higherthan N ovem ber2021. N ovem bertownhom esalesdecreased by17% m onth-over-m onth,to 223,and were55% below N ovem ber2021. Thesales-to-listing ratio fortow nhom esin theG reater Vancouverboard area,at22% ,reflected aselers'm arket. Thetownhom em edian pricein N ovem berwas$948,000, a7% decreasefrom O ctoberand 5% below N ovem ber 2021. Theaveragesold pricewas$1,021,406,8% below last m onth;theaveragePSF salepricewas$712,down 4% to lastm onth.
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 84% 501 597
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
22% 223 998
-73% -55% 67%
24% 269 1,108
-17% -10%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
-4% -8% -7% -8%
$712 $1,021,406 $948,000
$741 $1,110,150 $1,020,800
$742 $1,069,901 $995,000
-4% -5% -5%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● NOV 2021 ● NOV 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,139
1,108
1,126
1,106
998
1,065
1,051
920
753
597
599
629
501
409
387
503
467
446
441
282
269
365
223
284
240
224
$1.10M $1.10M $1.15M $1.10M
$1.03M $1.01M
$1.02M $948K
$995K $969K
$990K $942K $932K
REBGV
FVREB
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
250
37
4+ bdrms
200
157
150
120
3 bdrms
564
45%
100
29%
26%
60
23% 21%
2 bdrms
50
243
8% 7%
5%
0
6
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
20 1 5%
34 10 29%
113 51 45%
238 63 26%
213 50 23%
143 30 21%
154 12 8%
7%
34
83 6
Copyright© Decem ber5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofDecem ber5,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 9 ●
greatervancouverboard area CONDO -NOVEMBER 202
SALES TO LISTINGSRATIO 21% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 0.9% VS 2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 3% VS 2021
▲ 1.9% VS 2021
▲ 18% VS 2021
▼ 53% VS 2021
Therewere4,011 condolistingsin theG reater Vancouverboard areain N ovem ber,4% below O ctober and 18% higherthan N ovem ber2021. N ovem bercondosalesdecreased by15% m onth-over-m onth,to 851,and were53% below N ovem ber2021. Thesales-to-listing ratio forcondosin the G reater Vancouverboard area,at21% ,reflected aselers'm arket. Thecondom edian pricein N ovem berwas$680,000,a 0.4% increasefrom O ctoberand 1.9% aboveN ovem ber 2021. Theaveragesold pricewas$766,928,0.0% below last m onth;theaveragePSF salepricewas$880,down 2% to lastm onth.
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
21% 851 4,011
1,827 3,412
0.9% 3% 1.9% -60% -53% 18%
24% 998 4,199
0.4% -11% -15% -4%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$872 $744,971 $667,500 54%
$880 $766,928 $680,000
$898 $767,287 $677,500
-2% 0%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● NOV 2021 ● NOV 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
4,137
4,333 4,271
4,01
4,170 4,199
3,971
3,412
3,685
3,228
2,856
2,313
2,546
2,396
1,863
1,604
1,827
1,692
1,004
998
1,464
1,314
1,326
851
1,062
894
$725K $735K $740K $735K
$717K $698K $694K $690K $670K $678K $680K
$668K $680K
REBGV
FVREB
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
1200
1000
4+ bdrms
38
800
55
3 bdrms
600
500
39%
400
33%
27%
473
2 bdrms
17% 17%
2,234
200
11%
7%
4%
0
323
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
112 37 33%
642 248 39%
1,111 301 27%
786 130 17%
383 67 17%
288 32 11%
285 21 7%
404 15 4%
1,239
Copyright© Decem ber5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofDecem ber5,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 10 ●
fraservaley board area DETACHED -NOVEMBER 202
SALES TO LISTINGSRATIO 13% BALANCEDMARKET
▶ MARKETSUMMARY Therew ere 2,332 detached listingsin the FraserValey board areain N ovem ber,8% below O ctoberand 79% higherthan N ovem ber2021. N ovem berdetached hom esalesdecreased by4% m onth-over-m onth,to 313,and were61% below N ovem ber2021. Thesales-to-listing ratio fordetached in the FraserValey board area,at13% ,reflected abalanced m arket. Thedetached m edian pricein N ovem berwas $1,235,000,a6% decreasefrom O ctoberand 21% below N ovem ber2021. Theaveragesold pricewas$1,328,310,8% below last m onth and down 22% toN ovem ber2021.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 22% VS 2021
▼ 21% VS 2021
▲ 79% VS 2021
▼ 61% VS 2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
13% 313 2,332
62% 806 1,306
-22% -21% -78% -61% 79%
13% 326 2,528
-8% -6% 4% -4% -8%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$1,442,525 $1,314,000
$1,328,310 $1,235,000
$1,692,488 $1,555,278
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
3,122
2,957
2,684
3,031
2,528
2,798
1.89
2,227
2,581
2,332
1.71
1.63
1.61
1,788
1.55
1.52
1,306
1,013
909
1,054
806
426
739
362
694
326
606
521
484
313
343
325
$1.70M $1.61M $1.75M $1.78M
$1.56M $1.58M
$1.53M $1.48M $1.42M
$1.34M $1.32M $1.31M $1.24M
Nov-21
Oct-22
Nov-22
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
600
500
400
300
41%
37%
34%
200
24%
16%
100
11%
9%
2%
1%
0
<$600K
$600-799K
$800-999K
$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M
$2.0M -2.49M
$2.5M -2.99M
$3M+
S-L RATIO SALES INVENTORY
90 22 24%
41 15 37%
113 46 41%
217 74 34%
414 65 16%
598 51 9%
275 30 11%
212 5 2%
372 5 1%
Copyright© Decem ber5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofDecem ber5,202 .Aldatafrom RealEstate BoardofGreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycan otbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.The recipientoftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
11
fraservaley board area TOWNHOME-NOVEMBER 202
SALES TO LISTINGSRATIO 20% BALANCEDMARKET
▶ MARKETSUMMARY Therewere944 townhom elistingsin theFraserValey board areain N ovem ber,6% below O ctoberand 151% higherthan N ovem ber2021. N ovem bertownhom esalesdecreased by23% m onth-over-m onth,to 189,and were57% below N ovem ber2021. Thesales-to-listing ratio fortow nhom esin theFraser Valey board area,at20% ,reflected abalanced m arket. Thetownhom em edian pricein N ovem berwas$798,000, a4% increasefrom O ctoberand 3% below N ovem ber 2021. Theaveragesold pricewas$809,737,4% abovelast m onth;theaveragePSF salepricewas$510,down 0.6% tolastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 5% VS 2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 1.7% VS 2021
▼ 3% VS 2021
▲ 151% VS 2021
▼ 57% VS 2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 438 376
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
20% 189 944
-5% -1.7% -3% -83% -57% 151%
25% 245 1,000
-0.6% 4% 4% -18% -23% -6%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$534 $823,841 $823,500 116%
$510 $809,737 $798,000
$513 $778,263 $770,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● NOV 2021 ● NOV 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,246
1,327
1,304
1,16
1,155
924
1,082
944
1,000
628
622
376 438
416
361
320
444
281
245
391
360
290
189
234
236
200
$930K $970K $949K
$913K $870K $855K
$843K $790K
$824K $870K
$780K $770K $798K
FVREB
REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
350
43
4+ bdrms
300
246
250
100
200
3 bdrms
491
150
46
100
24% 25%
2 bdrms
20%
17%
197
50
8%
0
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
28 0 n/a
93 22 24%
299 74 25%
354 70 20%
115 19 17%
48 4 8%
7 0 n/a
10
Copyright© Decem ber5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofDecem ber5,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 12 ●
fraservaley board area CONDO -NOVEMBER 202
SALES TO LISTINGSRATIO 22% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere1,234 condolistingsin theFraserValey board areain N ovem ber,5% below O ctoberand 87% higherthan N ovem ber2021. N ovem bercondosalesdecreased by0.7% m onth-over-m onth,to 273,and were56% below N ovem ber2021. Thesales-to-listing ratio forcondosin the FraserValey board area,at22% ,reflected aselers'm arket. Thecondom edian pricein N ovem berwas$490,000,a 3% decreasefrom O ctoberand 4% below N ovem ber 2021. Theaveragesold pricewas$511,514,1.6% below last m onth;theaveragePSF salepricewas$603,up 2% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 2% VS 2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 3% VS 2021
▼ 4% VS 2021
▲ 87% VS 2021
▼ 56% VS 2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 93% 614 660
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
22% 273 1,234
-76% -56% 87%
21% 275 1,302
2% -1.6% -3% 5% -0.7% -5%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$603 $511,514 $490,000
$590 $520,066 $505,000
$616 $528,700 $510,000
-2% -3% -4%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● NOV 2021 ● NOV 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,231
1,314
1,234
1,303 1,302
1,290
1,234
849
997
764
614 660
801
542
407
548
517
451
415
420
373
356
273
304
280
275
$564K $572K $570K
$567K $548K $540K $535K
$510K $529K
$515K $500K $505K $490K
FVREB
REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
700
600
4+ bdrms
3
500
12
400
3 bdrms
76
300
38%
31%
200
164
23%
2 bdrms
17%
762
13% 12%
100
0
97
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
171 65 38%
661 155 23%
323 42 13%
43 5 12%
16 5 31%
6 1 17%
6 0 n/a
8 0 n/a
393
Copyright© Decem ber5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofDecem ber5,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 13 ●
burnabynorth DETACHED -NOVEMBER 202
SALES TO LISTINGSRATIO 21% BALANCEDMARKET
▶ MARKETSUMMARY Therewere92 detachedlistingsin BurnabyN orth in N ovem ber,3% below O ctoberand 15% higherthan N ovem ber2021. N ovem berdetached hom esalesdecreased by21% m onth-over-m onth,to19,and were41% below N ovem ber2021. Thesales-to-listing ratio fordetached in Burnaby N orth, at21% ,reflected abalanced m arket. Thedetached m edian pricein N ovem berwas $1,955,000,a4% decreasefrom O ctoberand 1.3% above N ovem ber2021. Theaveragesold pricewas$2,188,600,6% abovelast m onth and up 1.8% toN ovem ber2021.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 1.8% VS 2021
▲ 1.3% VS 2021
▲ 15% VS 2021
▼ 41% VS 2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
19 92
32 80
1.8% 1.3% -48% -41% 15%
24 95
-18% -21% -3%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$2,188,600 $1,955,000 21%
$2,064,174 $2,041,250 25%
$2,150,391 $1,929,000 40%
6% -4%
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
131
122
18
15
2.63
2.57
109
87
92
80
95
93
2.23
64
61 47
59 33
37
30
28
40
25
32
24
1.24
19
1.17
22
1.12
17
16
$2.30M
$2.17M $2.12M
$2.13M $2.20M $2.04M $2.08M
$2.04M $1.96M
$1.93M $1.99M
$1.75M $1.71M
Nov-21
Oct-22
Nov-22
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
35
100%+
30
25
20
15
10
24%
23%
18%
5
4%
0
<$600K
$600-799K
$800-999K
$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M
$2.0M -2.49M
$2.5M -2.99M
$3M+
S-L RATIO SALES INVENTORY
1 3 300%
33 8 24%
22 4 18%
13 3 23%
23 1 4%
Copyright© Decem ber5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofDecem ber5,202 .Aldatafrom RealEstate BoardofGreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycan otbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.The recipientoftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
14
burnabynorth TOWNHOME-NOVEMBER 202
SALES TO LISTINGSRATIO 55% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere31 townhom elistingsin BurnabyN orth in N ovem ber,31% below O ctoberand 19% higherthan N ovem ber2021. N ovem bertownhom esalesincreased by42% m onth-over-m onth,to17,and were26% below N ovem ber2021. Thesales-to-listing ratio fortow nhom esin Burnaby N orth,at55% ,reflected aselers'm arket. Thetownhom em edian pricein N ovem berwas$875,000, a13% increasefrom O ctoberand 17% aboveN ovem ber 2021. Theaveragesold pricewas$869,741,11% abovelast m onth;theaveragePSF salepricewas$646,up 10% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 4% VS 2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 12% VS 2021
▲ 17% VS 2021
▲ 19% VS 2021
▼ 26% VS 2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
17 31
23 26
-4% 12% 17% -38% -26% 19%
12 45
10% 11% 13% 106% 42% -31%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$646 $869,741 $875,000 55%
$673 $778,304 $750,000 88%
$588 $785,729 $775,000 27%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● NOV 2021 ● NOV 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
45
38
35
39
33
36
29
26
31
25
23
23
18
17
15
17
18
12
17
16
12
12
12
1
8
5
$969K
$950K $989K $978K
$875K
$857K $883K $905K
$860K
$770K $748K $775K
$750K
BURNABYNORTH REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
12
1
100%
4+ bdrms
10
6
83%
8
10
3 bdrms
17
6
33%
4
6
2 bdrms
8
2
13%
0
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
1 0 n/a
5 5 100%
12 10 83%
8 1 13%
3 1 33%
2 0 n/a
Copyright© Decem ber5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofDecem ber5,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 15 ●
burnabynorth CONDO -NOVEMBER 202
SALES TO LISTINGSRATIO 20% BALANCEDMARKET
▶ MARKETSUMMARY Therewere268 condolistingsin BurnabyN orth in N ovem ber,1.5% aboveO ctoberand 29% higherthan N ovem ber2021. N ovem bercondosalesdecreased by9% m onth-over-m onth,to53,and were57% below N ovem ber2021. Thesales-to-listing ratio forcondosin Burnaby N orth,at 20% ,reflected abalanced m arket. Thecondom edian pricein N ovem berwas$703,000,a 1.6% increasefrom O ctoberand 9% aboveN ovem ber 2021. Theaveragesold pricewas$713,502,1.9% abovelast m onth;theaveragePSF salepricewas$803,down 9% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 0.0% VS 2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 7% VS 2021
▲ 9% VS 2021
▲ 29% VS 2021
▼ 57% VS 2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 60% 124 208
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
$803 $713,502 $703,000 20% 53 268
-67% -57% 29%
$878 $700,326 $692,000 22% 58 264
-9% 1.9% 1.6% -10% -9% 1.5%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$802 $668,827 $643,500
0% 7% 9%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● NOV 2021 ● NOV 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
286
287
309 300 301
264
268
257
208
200
176
167
180
124
160
145
124
88
82
12
104
101
96
80
53
58
$778K $750K $729K
$693K $700K
$699K $650K $671K $676K $651K
$692K $703K
$644K
BURNABYNORTH REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
100
4+ bdrms
80
60
3
3 bdrms
27
40
42%
39
22%
2 bdrms
20
17%
174
14%
0
11
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
3 0 n/a
43 18 42%
91 20 22%
80 11 14%
24 4 17%
8 0 n/a
13 0 n/a
6 0 n/a
67
Copyright© Decem ber5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofDecem ber5,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 16 ●
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