the rennie review
DATA-DRIVEN INSIGHT INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION
published February 2020
table of contents
02 INTRO
Each month, we release the rennie review, a detailed look at the real estate marketplace in Vancouver and the Lower Mainland. This report examines the market stats by neighbourhood, current rennie projects, and more.
03 WHAT YOU NEED TO KNOW
04 FEATURED LISTINGS
NEIGHBOURHOOD PROFILES
05
Greater Vancouver Board Area
08 Burnaby North 11 Burnaby South 14 Coquitlam 17 Fraser Valley Board Area 20 Langley 23 North Vancouver
Andrew Ramlo VP Intelligence aramlo@rennie.com
Ryan Berlin Senior Economist rberlin@rennie.com
26 Richmond 29 Squamish 32 Surrey
35 Vancouver East 38 Vancouver West 41 West Vancouver
43 CURRENT PROJECTS
Copyright © 2020 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 6, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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. 2
prices beginning to rise as demand outpaces supply Supported by solid labour market dynamics and a growing population, sales are up, inventory remains constrained, and prices are beginning to trend upwards.
Columbia shows that province added more people (approximately 34,000) in the most recent three months than in any quarter dating back to 1971, when data were first collected. This continues to drive the demand for housing, along with a tight labour market in Metro Vancouver: the region’s latest unemployment rate, at 4.5%, is the lowest among larger metros in Canada, indicating that those who are looking for work are finding it. Both short-term and and longer- term interest rates remain historically low, with global economic uncertainty putting additional downward pressure on rates. Together, these features of our market landscape point to continued growth in demand generally, and resale counts more specifically. The evidence suggests that first- time home buyers and previously-sidelined buyers are (re-)entering the fray and, as a result, the spring market is shaping up to be a very active one. The longer-term trajectory for the market also remains positive thanks to the region’s growing population and workforce.
On the flip side, January’s inventory was down by 24% compared to the same time last year, marking four straight months of year- over-year contractions. Anecdotal evidence, particularly for resale condos, suggests that the prevalence of multiple-offer scenarios, subject-free offers, and offers above sellers’ asking prices are on the rise, and this is beginning to create tailwinds for prices. More specifically, for the first time since December 2018, the year-over-year change in the region’s benchmark condo price was positive in January 2020 (up by 0.9% vs January 2019). A similar trend has been seen for detached homes and townhomes. Underpinning the market’s latest trajectory are good, if not great, economic and demographic fundamentals. On the population front, the latest data for British
The calendar may now read 2020, but the supply and demand dynamics that were established in the second half of 2019 have clearly carried over into January. This in turn has set the table for what is likely to be an active market throughout the rest of the year, in no small part due to the Vancouver region’s resilient underlying fundamentals. While January 2019’s sales count left something to be desired—the 1,839 sales in that month were the lowest for any January in a decade—sales in January 2020 were 35% higher, bringing them virtually in line with the past-decade average for the month. January marked the 7th consecutive month of year- over-year sales increases, with sales across all home types, all price ranges, and throughout most Vancouver region sub-markets outpacing the trend from one year ago.
Copyright © 2020 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 6, 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. 3
featured listings SEARCH FOR THE HOME YOU LOVE AT RENNIE.COM
Grosvenor Ambleside $7,698,000 | WEST VAN 306-1355 Bellevue Ave. 2 Bed, 2,952 SF Jenna Van Alstine 778.558.3355
House $5,900,000 | VAN WEST 6868 Cypress St. 6 Bed, 5,651 SF Danny Chow PREC* 604.765.2469
House $2,299,000 | NORTH VAN
2155 Philip Ave. 4 Bed, 2,922 SF Charlie Kim PREC* 604.767.1531
Crystallis
Shannon Wall Centre $2,099,000 | KERRISDALE
Addition Living
$2,138,000 | WEST END 1904-1020 Harwood St. 3 Bed, 1,681 SF Janette Fricker PREC* 604.787.2862
$1,399,900 | DOWNTOWN
903-7228 Adera St. 3 Bed, 1,586 SF Derek Kai PREC* 604.868.1666
2003-1133 Hornby St. 2 Bed, 1,038 SF
Nick Prastos 604.307.39531
The Lions
Townhome
Westpointe
$1,238,000 | DOWNTOWN
$1,228,000 | SOUTH VAN
$978,800 | KITSILANO 215-3250 W Broadway 2 Bed, 957 SF Deanna Lythgo PREC* 778.840.3170
1910-1367 Alberni St. 2 Bed, 1,009 SF
786 W 69th Ave. 4 Bed, 1,545 SF Jane Chu PREC* 778.886.3303
Jordan Wong 778.378.6888
The Oxford
Green on Queensbury
Vancouver House $799,000 | DOWNTOWN
$899,900 | EAST VAN 212-2141 E Hastings St. 2 Bed, 1,061 SF
$928,000 | NORTH VAN
305-733 E 3rd St. 2 Bed, 927 SF Mike Ross 778.987.8874
2210-1480 Howe St. 1 Bed, 482 SF
Ryan Wong PREC* 604.551.7966
Mike Ross 778.987.8874
Park 360
The Five Points $599,000 | NORTH VAN
King Edward Village
$719,900 | BURNABY 1508-7088 18th Ave. 2 Bed, 870 SF Artyom Seroff PREC* 778.223.0033
$569,900 | EAST VAN
411-711 14th Ave. 1 Bed, 573 SF Matt Stone 604.782.2614
854-1483 E King Edward Ave. 1 Bed, 670 SF
Lily Vong 604.781.7808
Aspen Green $529,900 | EAST VAN 312-3365 E 4th Ave. 2 Bed, 922 SF
The Five Points $529,000 | NORTH VAN 310-711 W 14th St. 1 Bed, 560 SF
Sky $499,900 | NORTH VAN 1206-151 W 2nd St. Studio, 468 SF Salina Kai PREC* 604.773.7013
Vivien Ma PREC* 604.828.22680
Ross Leathley 604.802.5468
Copyright © 2020 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 February 10, 2020. 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
DETACHED JANUARY greater vancouver board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
26 % DOWN
1.6 % DOWN
-
1.7 % DOWN
30 % UP
11 %
Detached listings in the REBGV increased to 3,966 in January, 5% above December but 26% lower vs January 2019. Detached sales, at 444, decreased 26% compared to December but were 30% higher vs January 2019. The sales-to-listings ratio decreased to 11%, as the REBGV detached market favoured buyers. The detached benchmark price in January was $1.43M, up 0.5% month-over-month but a 1.7% decline year-over-year. The average sold price was $1.59M, down 5% from the previous month and 1.6% lower year-over-year.
VS
VS
VS
VS
VS
BUYER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
3,966
3,763
5%
5,346
-26% 30% 75%
TOTAL SALES
444 11%
604 16%
-26% -30%
342
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
6%
$1,431,200 $1,423,500 0.5% $1,455,600 -1.7%
$1,589,963 $1,671,805
-5% $1,615,593 -1.6%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
MILLIONS
$1.46
$1.44
$1.43
$1.42
$1.42
$1.42
$1.41
1.85
1.83
1.83
6,827
6,652
6,208
5,965
5,288
5,346
1.19
1.18
1.18
3,966
915
851
833
752
531
444
342
Jan-19
Dec-19
Jan-20
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES TOTAL INVENTORY S L RATIO
SELLER'S MARKET
BALANCED
BUYER'S MARKET
. . . 0 0 0 0 0
S-L RATIO SALES INVENTORY
Copyright © 2020 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 February 5, 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.
5
greater vancouver board area
TOWNHOME JANUARY
AVERAGE PRICE
AVERAGE PSF PRICE 8 % UP
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
24 % DOWN
13 % UP
0.7 % DOWN
54 % UP
SELLER’S 24 %
The number of townhome listings in the REBGV fell to 1,116 in January, 0.6% above December but 24% lower year-over-year. Townhome sales in January, at 272, were down 7% vs December but were 54% above last year. The sales-to-listings ratio decreased to 24% as the REBGV townhome market remained favourable to sellers. The townhome benchmark price in January was $782,500, 0.5% above December but 0.7% lower than in January 2019. The average sold price was $875,325, with an aver- age PSF sales price of $587 (3% and 1.7% higher, respectively, vs December).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,116
1,109
0.6%
1,460
-24% 54% 101% -0.7%
TOTAL SALES
272 24%
293 26%
-7% -8%
177 12%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$782,500 $778,400 $875,325 $846,637
0.5% $787,800 3% $775,070
13%
$587
$577
1.7%
$546
8%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$787,800 $772,500 $779,400 $770,000 $767,500 $772,800 $782,500
2,107
2,089
1,945
1,744
1,573
1,460
1,116
412
404
397
355
280
272
177
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
49
4+ bdrms
BUYER'S MARKET
212
162
3 bdrms
586
61
<3 bdrms
. . . . 0 0 0 0
318
S-L RATIO SALES INVENTORY
Copyright © 2020 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 February 5, 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.
6
greater vancouver board area
CONDO JANUARY
AVERAGE PRICE
AVERAGE PSF PRICE 2 % UP
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
1.9 % DOWN
1.0 % DOWN
22 % DOWN
46 % UP
SELLER’S 24 %
The number of condo listings in the REBGV increased to 3,401 in January, 6% above December but 22% below January 2019. At 815, condo sales were 23% lower month-over- month but 46% higher year-over-year. The sales-to-listings ratio decreased to 24%, as the REBGV condo market remained in seller’s market territory. The condo benchmark price in January was $663,200, 1.0% above December but down 1.0% compared to January 2019. The average sold price was $665,147 (relatively unchanged from December) with an average PSF sales price of $784 (1.4% higher vs December).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
3,401
3,204 1,054
6%
4,343
-22% 46% 86% -1.0% -1.9%
TOTAL SALES
815 24%
-23% -27%
559 13%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
33%
$663,200 $656,700 $665,147 $667,882
1.0% $670,200 -0.4% $677,731
$784
$773
1.4%
$768
2%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$670,200 $667,500 $664,200 $653,200 $651,500 $651,500 $663,200
6,203
5,961
5,589
5,259
4,489
4,343
3,401
1,243
1,243
1,219
1,167
872
815
559
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
45
3+ bdrms
BUYER'S MARKET
428
422
2 bdrms
1,989
348
<2 bdrms
. . . . 0 0 0 0
984
S-L RATIO SALES INVENTORY
Copyright © 2020 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 February 5, 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.
7
DETACHED JANUARY burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 0.1 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
43 % DOWN
4 % UP
-
60 % UP
SELLER’S 24 %
The number of detached listings in Burnaby North in January, at 102, was 7% higher month-over- month but 43% lower year-over-year. With 24 in January, detached sales were up by 1 month-over-month and 9 above last year. The sales-to-listings ratio remained at 24%, as Burnaby North’s detached market was balanced. The benchmark price in January was $1.42M, 2% above December 2019 and relatively unchanged vs January 2019. The average sold price was $1.48M, down 9% from the previous month but 4% above January 2019.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No. 179
% Change
TOTAL LISTINGS
102
95 23
7% 4%
-43% 60% 181%
TOTAL SALES
24
15 8%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
24%
24%
-3%
$1,416,400 $1,389,000 $1,476,146 $1,623,435
2% $1,415,300 0.1%
-9% $1,421,380
4%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
MILLIONS
$1.42
$1.42
$1.41
$1.41
$1.38
$1.37
$1.35
1.97
1.96
1.92
248
239
206
201
179
1.21
1.19
1.19
154
102
39
33
33
27
24
15
15
Jan-19
Dec-19
Jan-20
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES TOTAL INVENTORY S L RATIO
SELLER'S MARKET
BALANCED
BUYER'S MARKET
. . . 0 0 0 0 0 QD QD QD QD
S-L RATIO SALES INVENTORY
Copyright © 2020 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 February 5, 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.
8
TOWNHOME JANUARY burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
32 % UP
26 % UP
0.4 % DOWN
41 % DOWN
0.0 %
SELLER’S 36 %
The number of townhome listings in Burnaby North decreased 14% from last month, settling at 36, and was 41% below January 2019. Townhome sales, at 13, were down by 4 vs last month and unchanged vs January 2019. The sales-to-listings ratio decreased to 36% in January, as Burnaby North’s townhome segment remained a seller’s market. The benchmark price in January was $720,700, 0.5% below December and relatively unchanged vs January 2019. The average sold price was $802,962 in January, (increasing 13% vs December) while the average PSF sales price was $602 (increasing 15%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
36 13
42 17
-14% -24% -11%
61 13
-41% 0.0% 69% -0.4%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
36%
40%
21%
$720,700 $724,200 $802,962 $711,706
-0.5% $723,900 13% $609,808
32% 26%
$602
$523
15%
$479
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$723,900 $726,000 $730,300 $723,100 $729,500 $728,500 $720,700
80
75
68
65
61
59
36
19
17
15
14
13
13
12
BURNABY NORTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
4+ bdrms
BUYER'S MARKET
2
9
3 bdrms
18
4
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD
16
S-L RATIO SALES INVENTORY
Copyright © 2020 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 February 5, 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.
9
CONDO JANUARY burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE 7 % UP
BENCHMARK PRICE 0.1 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
15 % UP
33 % DOWN
62 % UP
SELLER’S 35 %
There were 157 condo listings in Burnaby North in January, 12% above December but 33% lower vs January 2019. January condo sales decreased by 13% month-over- month but rose 62% year-over-year. The sales-to-listings ratio for condos in Burnaby North decreased to 35%, remaining a seller’s market. The condo benchmark price in January was $606,900, 1.4% above December and relatively unchanged from January 2019. The average sold price was $622,159, up 1.9% from last month; the average PSF sales price was $732, up 0.5% from last month.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 140
% Change
No. 236
% Change
TOTAL LISTINGS
157
12% -13% -22%
-33% 62% 143% 0.1%
TOTAL SALES
55
63
34
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
35%
45%
14%
$606,900 $598,500 $622,159 $610,631
1.4% $606,400 1.9% $541,373
15%
$732
$728
0.5%
$683
7%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$606,400 $602,900 $615,100 $609,500 $591,400 $595,900 $606,900
324
316
308
263
236
219
157
86
84
73
72
55
47
34
BURNABY NORTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
5
3+ bdrms
BUYER'S MARKET
19
33
2 bdrms
96
17
<2 bdrms
. . . . 0 0 0 0 QD QD QD
42
S-L RATIO SALES INVENTORY
Copyright © 2020 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 February 5, 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.
10
DETACHED JANUARY burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
23 % DOWN
4 % DOWN
-
75 % UP
10 %
There were 135 detached listings in the Burnaby South market area in January, 9% above last month but 23% lower vs January 2019. Detached sales fell by 7, to 14, between December and January, but were 6 higher year-over-year. The sales-to-listings ratio decreased to 10%, as Burnaby South’s detached market transitioned to buyer’s market territory. The benchmark price in January was $1.49M, rela- tively unchanged from the previous month but a 3% decline vs last year. The average sold price for detached homes was $1.46M, 17% lower month-over-month and 4% below January of last year.
VS
VS
VS
VS
VS
BUYER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 124
% Change
No. 175
% Change
TOTAL LISTINGS
135
9%
-23% 75% 127%
TOTAL SALES
14
21
-33% -39%
8
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
10%
17%
5%
$1,493,500 $1,494,500 -0.1% $1,533,700 $1,455,966 $1,757,965 -17% $1,517,153
-3% -4%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
MILLIONS
$1.55
$1.53
$1.51
$1.49
$1.49
$1.48
$1.46
1.96
1.94
1.93
242
225
224
213
178
175
1.17
1.16
1.15
135
40
32
23
23
21
14
8
Jan-19
Dec-19
Jan-20
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES TOTAL INVENTORY S L RATIO
SELLER'S MARKET
BALANCED
BUYER'S MARKET
. . . 0 0 0 0 0 QD QD QD QD QD
S-L RATIO SALES INVENTORY
Copyright © 2020 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 February 5, 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.
11
TOWNHOME JANUARY burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE 6 % UP
BENCHMARK PRICE 3 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
42 % DOWN
3 % DOWN
0.0 %
BALANCED 16 %
Townhome listings in the Burnaby South market area in January (at 45) were down 4% from last month and 42% below last year. The 7 townhome sales were 7 below December and unchanged vs January 2019. The sales-to-listings ratio fell to 16%, as Burnaby South’s townhome transitioned to a balanced market. The benchmark price in January was $768,100, 0.7% above December but 3% lower year-over-year. The average sold price was $781,543 (down 7% from December) with an average PSF sales price of $627 (up 9% vs December).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
45
47 14
-4%
78
-42% 0.0% 73%
TOTAL SALES
7
-50% -48%
7
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
16%
30%
9%
$768,100 $762,600 $781,543 $844,554
0.7% $792,800 -7% $802,286
-3% -3%
$627
$575
9%
$594
6%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$792,800 $779,500 $781,500 $760,600 $757,100 $769,600 $768,100
104
102
95
93
78
68
45
22
22
17
14
12
7
7
BURNABY SOUTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
1
4+ bdrms
BUYER'S MARKET
6
3
3 bdrms
26
3
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD
13
S-L RATIO SALES INVENTORY
Copyright © 2020 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 February 5, 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.
12
CONDO JANUARY burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
4 % UP
34 % DOWN
1.5 % UP
55 % UP
SELLER’S 26 %
The number of condo listings in Burnaby South, at 240, increased 9% month-over-month but fell 34% vs last year. January’s condo sales, at 62, were 30% below last month but 55% higher than last year. The sales-to-listings ratio decreased to 26% in January, as Burnaby South’s condo segment remained in seller’s market territory. The condo benchmark price in January was $661,700, up 1.5% vs December but a 4% decrease from January 2019. The average sold price was $595,215 with an aver- age PSF sales price of $735 (7% and 1.3% lower vs December, respectively).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 221
% Change
No. 364
% Change
TOTAL LISTINGS
240
9%
-34% 55% 135%
TOTAL SALES
62
88
-30% -35%
40
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
26%
40%
11%
$661,700 $652,000 $595,215 $637,846
1.5% $687,900 -7% $571,525 -1.3% $724
-4%
4%
$735
$745
1.5%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$687,900 $681,400 $676,400 $653,500 $654,500 $647,300 $661,700
460
435
425
401
364
334
240
110
88
77
73
62
61
40
BURNABY SOUTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S L RATIO
SALES TOTAL INVENTORY
. . . . 0 0 0 0 QD QD QD SELLER'S MARKET BALANCED BUYER'S MARKET S-L RATIO SALES INVENTORY
4
3+ bdrms
27
36
2 bdrms
165
22
<2 bdrms
48
Copyright © 2020 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 February 5, 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.
13
coquitlam
DETACHED JANUARY
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 2 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
5 % UP
-
27 % DOWN
52 % UP
BALANCED 14 %
The number of detached listings in Coquitlam rose to 302 in January, 8% above December but 27% lower year-over-year. The 41 detached sales in January represented a decrease of 20% from December but a 52% jump vs January of last year. Coquitlam’s sales-to-listings ratio decreased to 14% as the detached segment remained in balanced market territory. The benchmark price in January was $1.17M, 0.5% above December but a 2% decrease year-over-year. The average sold price was $1.31M in January, down 15% vs December but a 5% increase vs January 2019.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 279
% Change
No. 414
% Change
TOTAL LISTINGS
302
8%
-27% 52% 108%
TOTAL SALES
41
51
-20% -26%
27 7%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
14%
18%
$1,170,200 $1,164,300 0.5% $1,195,000 $1,307,233 $1,532,355 -15% $1,244,399
-2%
5%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
MILLIONS
$1.20
$1.17
$1.17
$1.16
$1.16
$1.16
$1.15
1.78
1.76
1.76
572
568
504
488
1.30
1.27
1.26
414
409
302
89
86
80
71
48
41
27
Jan-19
Dec-19
Jan-20
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES TOTAL INVENTORY S L RATIO
SELLER'S MARKET
BALANCED
BUYER'S MARKET
. . . 0 0 0 0 0 QD QD QD
S-L RATIO SALES INVENTORY
Copyright © 2020 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 February 5, 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.
14
coquitlam
TOWNHOME JANUARY
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
SELLER’S 47 %
17 % UP
13 % UP
1.1 % DOWN
35 % DOWN
115 % UP
There were 60 townhome listings in Coquitlam in January, unchanged from December and 35% lower vs January 2019. The 28 townhome sales in January were down by 4 vs December 2019 but 15 above January 2019. The sales-to-listings ratio decreased to 47% as Coquitlam’s townhome market remained in seller’s market territory. The townhome benchmark price in January was $664,900, virtually unchanged from December and 1.1% lower vs January 2019. The average sold price was $768,704, with an average PSF sales price of $493 (4% lower and 2% higher, respectively, vs December).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
60 28
60 32
0.0% -13% -13%
92 13
-35% 115% 230% -1.1%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
47%
53%
14%
$664,900 $663,000 $768,704 $802,662
0.3% $672,300 -4% $657,846
17% 13%
$493
$483
2%
$435
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$672,300 $638,500 $671,500 $653,200 $651,300 $644,200 $664,900
159
157
140
123
97
92
60
49
40
33
32
29
13
28
COQUITLAM REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
10
4+ bdrms
BUYER'S MARKET
22
11
3 bdrms
30
7
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD
8
S-L RATIO SALES INVENTORY
Copyright © 2020 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 February 5, 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.
15
coquitlam
CONDO JANUARY
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 1.2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
SELLER’S 43 %
3 % DOWN
0.3 % UP
43 % DOWN
69 % UP
The 166 condo listings in Coquitlam in January were down 4% from December and 43% lower vs January 2019. Year-over-year condo sales rose by 69% in January (to 71) but were 32% lower vs December. The sales-to-listings ratio decreased to 43%, as Coquitlam’s condo market remained in seller’s market territory. The condo benchmark price in January was $521,900, 1.2% below December but a 1.2% increase vs January 2019. The average sold price was $522,472 in January (down 7% vs December) while the average PSF sales price was $626 (a 5% decrease vs December).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 173 104 60%
% Change
No. 291
% Change
TOTAL LISTINGS
166
-4%
-43% 69% 196% 1.2%
TOTAL SALES
71
-32% -29%
42
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
43%
14%
$521,900 $528,100 $522,472 $562,522
-1.2% $515,500 -7% $541,270
-3%
$626
$659
-5%
$624
0.3%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$515,500 $522,800 $517,100 $516,400 $518,200 $518,200 $521,900
404
402
367
318
291
289
166
98
93
87
77
71
61
42
COQUITLAM REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
4
3+ bdrms
BUYER'S MARKET
11
41
2 bdrms
112
26
<2 bdrms
. . . . 0 0 0 0 QD QD QD QD
43
S-L RATIO SALES INVENTORY
Copyright © 2020 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 February 5, 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.
16
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