the rennie review

DATA-DRIVEN INSIGHT INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION

published December 2019

table of contents

02 INTRO 03 WHAT YOU NEED TO KNOW 04 FEATURED LISTINGS

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.

NEIGHBOURHOOD PROFILES

05 08 11 14 17 20 23 26 29 32 35 38 41

Greater Vancouver Board Area

Burnaby North Burnaby South

Coquitlam

Fraser Valley Board Area

Andrew Ramlo VP Intelligence aramlo@rennie.com

Ryan Berlin Senior Economist rberlin@rennie.com

Langley

North Vancouver

Richmond Squamish

Surrey

Vancouver East Vancouver West West Vancouver

43 CURRENT PROJECTS

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 December 4, 2019. All data from RealEstateBoard ofGreaterVancouverandFraserValley & 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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

housing demand remains strong heading into 2019’s final month . Five straight months of rising year-over-year sales counts from Langley to West Vancouver has reduced inventory and tilted the scales in favour of sellers.

HOME TYPES The growth in overall home sales has not been driven by just one type of home, as detached homes, townhomes, and condos have each registered similar year-over-year increases. In November, for example, condo sales were up 45%, detached home sales were up 48%, and townhome sales were 51% higher. This reflects the broad-based nature of current housing demand from downsizers and first-time home buyers to up-sizing families and those simply looking to relocate within the region. BEDROOM COUNTS As with home types, the demand for different bedroom counts has been strong across the board, with the year-over-year increase in sales of homes with 3 bedrooms (+55%) slightly outpacing that of 4-plus bedrooms (+53%), while 1 beds (+44%) and 2 beds (+40%) were not far behind. Again, this reflects the latest evolution in housing demand on the part of everyone from those living alone to families big and small. PRICE POINTS In terms of value, the biggest increase in sales compared to last year has been for homes between $1-2M (+64%), followed by those priced between $500K-1M (+57%). Those under $500K saw sales increase by 28%, while--perhaps most surprisingly--sales of homes valued at $2M-plus rose 18%. Clearly, confidence is returning to the market. At a regional level, all of this has translated into conditions that, for the second month in a row, favour sellers overall. While balanced market segments, and even those with conditions favouring buyers, can be found if one digs deep enough into the data, it seems clear that both now and in the medium-term we should expect more of what we’ve been observing during the latter half of 2019: robust demand and relatively constrained supply.

SUB-MARKETS The 48% year-over-year increase in sales in November reflected a 36% increase in sales in the Fraser Valley board area and a 55% increase in the Greater Vancouver board area. This latter figure was the Greater Vancouver board area’s largest such change since December 2013, a period spanning 71 months. Drilling down even further geographically, November sales were up in every corner of the market, ranging from 18% higher in Langley to 40% higher in Surrey, 73% higher in East Van, and 113% higher in West Vancouver. In fact, every sub-market covered in the rennie review experienced positive year-over-year sales growth.

With the November data now in for the Vancouver region, it’s clear that our real estate market has re-established its footing and is poised to continue along its new trajectory. The high-level data tells a consistent story, with sales across the the Vancouver region in November up 48% versus November 2018, total inventory down 19% over the same period, and benchmark prices recovering towards last year’s levels. What’s really interesting beyond these headline statistics--and maybe even a little surprising--is the breadth of the demand resurgence across the Vancouver region. Indeed, the data unimpeachably show that it has materialized across virtually all of the region’s geographic sub-markets, as well as across all home types, bedroom counts, and price points.

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Village on False Creek $1,739,000 | FALSE CREEK 704-77 Walter Hardwick Ave. 2 Bed, 1,292 SF

Brandan Price PREC* 604.765.9555

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The Arc

Concordia 2

$1,148,000 | DOWNTOWN

$1,015,900 | YALETOWN

102-6383 Cambie St. 2 Bed, 1,025 SF

2106-89 Nelson St. 2 Bed, 762 SF Sam Abadian PREC* 604.290.1690

3a-139 Drake St. 2 Bed, 1,045 SF Sora Chung 604.809.5162

Salina Kai PREC* 604.773.7013

Village on False Creek $949,000 | FALSE CREEK 202-181 W 1st Ave. 2 Bed, 816 SF Charlie Kim PREC* 604.767.1531

Station Square 2 $908,000 | BURNABY 908-4670 Assembly Way 2 Bed, 920 SF

Townhome $899,900 | GASTOWN 4-9 E Cordova St. 2 Bed, 1,165 SF Jessica Lozada PREC* 604.360.0025

Simon Lai PREC* 778.881.3603

Connaught

House

Village on False Creek $749,900 | FALSE CREEK 60 Athletes Way 1 Bed, 694 SF Danny Chow PREC* 604.765.2469

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Jenna Van Alstine 778.558.3355

Clarke Mallory PREC* 604.316.9917

R+R $729,900 | VAN EAST 313-3289 Riverwalk Ave. 2 Bed, 927 SF Salina Kai PREC* 604.773.7013

Equinox $639,000 | DELTA 39-10415 Delsom Cres. 3 Bed, 1,418 SF Calvin Kan PREC* 604.616.8373

Treelynn $598,000 | NORTH VAN 209-2620 Fromme Rd. 2 Bed, 1,075 SF Alice Ristak PREC* 604.809.7218

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 December 4, 2019. 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.

DETACHED - NOVEMBER 2019 greater vancouver board area

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 6 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

7 % DOWN

22 % DOWN

60 % UP

BALANCED 17 %

Detached listings in the REBGV decreased to 4,957 in November, 12% below October and 22% lower vs November 2018. Detached sales, at 834, decreased 12% compared to October but were 60% higher vs November 2018. The sales-to-listings ratio was unchanged at 17%, as the REBGV detached market remained in balanced market territory. The detached benchmark price in November was $1.42M, relatively unchanged month-over-month and a 6% decline year-over-year. The average sold price was $1.58M, up 3% from the previous month but 7% lower year-over-year.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

4,957

5,657

-12% -12% 0.7%

6,362

-22% 60% 106%

TOTAL SALES

834 17%

945 17%

520

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$1,415,400 $1,410,500 0.3% $1,502,900

-6% -7%

$1,583,445 $1,532,754

3% $1,705,202

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.50

$1.46

$1.44

$1.42

$1.41

1.86

1.83

6,825

6,648

6,362

6,203

5,963

5,344

1.19

1.18

4,957

915

851

834

753

531

520

343

Nov-18

Oct-19

Nov-19

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

greater vancouver board area

TOWNHOME - NOVEMBER 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 4 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

13 % DOWN

1.1 % DOWN

1.5 % DOWN

55 % UP

SELLER’S 28 %

The number of townhome listings in the REBGV fell to 1,441 in November, 17% below October and 13% lower year-over-year. Townhome sales in November, at 397, were down 15% vs October but were 55% above last year. The sales-to-listings ratio increased to 28% as the REBGV townhome market remained favourable to sellers. The townhome benchmark price in November was $772,800, relatively unchanged from October and 4% lower than in November 2018. The average sold price was $829,189, with an average PSF sales price of $578 (3% and 1.9% lower, respectively, vs October).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

1,441

1,732

-17% -15%

1,657

-13% 55% 78% -1.1% -1.5% -4%

TOTAL SALES

397 28%

465 27%

256 15%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$772,800 $771,600 $829,189 $856,026

0.2% $808,000 -3% $838,829 -1.9% $587

$578

$589

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$808,000 $787,800 $772,500 $779,400 $770,000 $767,500 $772,800

2,107

2,090

1,944

1,745

1,657

1,441

1,460

412

404

397

355

280

256

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

4+ bdrms

BUYER'S MARKET

266

236

3 bdrms

795

<3 bdrms

. . . . 0 0 0 0

391

S-L RATIO SALES INVENTORY

greater vancouver board area

CONDO - NOVEMBER 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 4 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

3 % DOWN

0.5 % UP

17 % DOWN

50 % UP

SELLER’S 30 %

The number of condo listings in the REBGV decreased to 4,105 in November, 16% below October and 17% below November 2018. At 1,220, condo sales were 12% lower month-over- month but 50% higher year-over-year. The sales-to-listings ratio increased to 30%, as the REBGV condo market remained in seller’s market territory. The condo benchmark price in November was $651,500, relatively unchanged from October and down 4% compared to November 2018. The average sold price was $670,811 (1.5% above October) with an average PSF sales price of $779 (0.9% higher vs October).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

4,105 1,220

4,903 1,388

-16% -12%

4,937

-17% 50% 80%

TOTAL SALES

814 16%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

30%

28%

$651,500 $652,500 $670,811 $661,203

-0.2% $677,500 1.5% $689,331

-4% -3%

$779

$772

0.9%

$775

0.5%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$677,500 $670,200 $667,500 $664,200 $653,200 $651,500 $651,500

6,200

5,957

5,585

5,258

4,937

4,343

4,105

1,244

1,243

1,220

1,167

872

814

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

3+ bdrms

BUYER'S MARKET

497

683

2 bdrms

2,414

471

<2 bdrms

. . . . 0 0 0 0

1,223

S-L RATIO SALES INVENTORY

DETACHED - NOVEMBER 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 6 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

36 % DOWN

7 % DOWN

125 % UP

BALANCED 18 %

The number of detached listings in Burnaby North in November, at 147, was 11% lower month-over- month and 36% lower year-over-year. With 27 in November, detached sales were down by 22 month-over-month but 15 above last year. The sales-to-listings ratio fell to 18%, as Burnaby North’s detached market became balanced. The benchmark price in November was $1.38M, 1.1% above October 2019 but 6% lower than in November 2018. The average sold price was $1.50M, down 2% from the previous month and 7% below November 2018.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 165

% Change

No. 230

% Change

TOTAL LISTINGS

147

-11% -45% -38%

-36% 125% 252%

TOTAL SALES

12 5%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

18%

30%

$1,380,700 $1,366,200 1.1% $1,470,100

-6% -7%

$1,497,573 $1,527,764

-2% $1,605,833

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.47

$1.42

$1.41

$1.38

$1.37

$1.35

1.98

1.90

1.89

248

239

230

206

199

179

1.23

1.22

1.17

147

Nov-18

Oct-19

Nov-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

. . . 0 0 0 0 0 QD QD QD QD S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET

TOWNHOME - NOVEMBER 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

7 % UP

29 % UP

1.9 % DOWN

5 % DOWN

40 % UP

SELLER’S 24 %

The number of townhome listings in Burnaby North decreased 19% from last month, settling at 58, and was 5% below November 2018. Townhome sales, at 14, were down by 6 vs last month but 4 above November 2018. The sales-to-listings ratio decreased to 24% in November, as Burnaby North’s townhome segment remained a seller’s market. The benchmark price in November was $728,500, 0.6% above October but 1.9% lower vs November 2018. The average sold price was $674,464 in November, (decreasing 8% vs October) while the average PSF sales price was $557 (decreasing 0.2%).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

58 14

72 20

-19% -30% -13%

61 10

-5% 40% 47%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

24%

28%

16%

$728,500 $723,900 $674,464 $732,455

0.6% $742,700 -8% $627,690 -0.2% $433

-1.9%

$557

$558

29%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$742,700 $723,900 $726,000 $730,300 $723,100 $729,500 $728,500

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

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD QD

S-L RATIO SALES INVENTORY

CONDO - NOVEMBER 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE 6 % UP

BENCHMARK PRICE 6 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

6 % UP

23 % DOWN

79 % UP

SELLER’S 43 %

There were 201 condo listings in Burnaby North in November, 26% below October and 23% lower vs November 2018. November condo sales decreased by 7% month- over-month but rose 79% year-over-year. The sales-to-listings ratio for condos in Burnaby North increased to 43%, remaining a seller’s market. The condo benchmark price in November was $595,900, 0.9% above October but 6% lower than in November 2018. The average sold price was $601,985, up 1.3% from last month; the average PSF sales price was $704, up 3% from last month.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 271

% Change

No. 261

% Change

TOTAL LISTINGS

201

-26% -7% 26%

-23% 79% 133%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

43%

34%

18%

$595,900 $590,300 $601,985 $594,428

0.9% $632,200 1.3% $565,313

-6%

6% 6%

$704

$683

$664

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$632,200 $606,400 $602,900 $615,100 $609,500 $591,400 $595,900

324

316

309

263

261

236

201

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

3+ bdrms

BUYER'S MARKET

2 bdrms

133

<2 bdrms

. . . . 0 0 0 0 QD QD

S-L RATIO SALES INVENTORY

DETACHED - NOVEMBER 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 8 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

25 % DOWN

15 % DOWN

122 % UP

SELLER’S 24 %

There were 170 detached listings in the Burnaby South market area in November, 17% below last month and 25% lower vs November 2018. Detached sales rose by 10, to 40, between October and November, and were 22 higher year-over-year. The sales-to-listings ratio increased to 24%, as Burnaby South’s detached market transitioned to seller’s market territory. The benchmark price in November was $1.49M, 0.9% above the previous month but an 8% decline vs last year. The average sold price for detached homes was $1.60M, 0.5% lower month-over-month and 15% below November of last year.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 204

% Change

No. 228

% Change

TOTAL LISTINGS

170

-17% 33% 60%

-25% 122% 198%

TOTAL SALES

18 8%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

24%

15%

$1,486,200 $1,473,100 0.9% $1,612,100 $1,603,045 $1,611,797 -0.5% $1,887,150 -15% -8%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.61

$1.55

$1.53

$1.51

$1.49

$1.48

$1.46

2.02

1.93

1.90

242

228

225

224

213

1.20

1.19

175

1.16

170

Nov-18

Oct-19

Nov-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

. . . 0 0 0 0 0 QD QD QD QD S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET

TOWNHOME - NOVEMBER 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 4 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

14 % DOWN

6 % DOWN

7 % DOWN

56 % UP

SELLER’S 22 %

Townhome listings in the Burnaby South market area in November (at 64) were down 22% from last month and 6% below last year. The 14 townhome sales were 4 below October but 5 above November 2018. The sales-to-listings ratio was unchanged at 22%, as Burnaby South’s townhome segment remained a seller’s market. The benchmark price in November was $769,600, 0.9% below October and 4% lower year-over-year. The average sold price was $779,836 (down 0.5% from October) with an average PSF sales price of $529 (down 14% vs October).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

64 14

82 18

-22% -22% -0.3%

-6% 56% 65% -4% -7% -14%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

22%

13%

$769,600 $776,600 $779,836 $783,811

-0.9% $798,300 -0.5% $839,567

$529

$613

-14%

$618

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$798,300 $792,800 $779,500 $781,500 $760,600 $757,100 $769,600

104

102

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

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD

S-L RATIO SALES INVENTORY

CONDO - NOVEMBER 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 6 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

13 % DOWN

1.2 % UP

1.8 % UP

120 % UP

SELLER’S 34 %

The number of condo listings in Burnaby South, at 319, decreased 16% month-over-month and fell 13% vs last year. November’s condo sales, at 110, were 13% above last month and 120% higher than last year. The sales-to-listings ratio increased to 34% in November, as Burnaby South’s condo segment remained in seller’s market territory. The condo benchmark price in November was $647,300, relatively unchanged vs October but a 6% decrease from November 2018. The average sold price was $628,843 with an average PSF sales price of $750 (both 4% higher vs October, respectively).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 381

% Change

No. 368

% Change

TOTAL LISTINGS

319 110 34%

-16% 13% 35%

-13% 120% 154%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

25%

14%

$647,300 $645,300 $628,843 $607,428

0.3% $689,900 4% $621,282

-6%

1.2% 1.8%

$750

$723

$737

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$689,900 $687,900 $681,400 $676,400 $653,500 $654,500 $647,300

460

435

425

401

368

364

319

110

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

3+ bdrms

BUYER'S MARKET

2 bdrms

208

<2 bdrms

. . . . 0 0 0 0 QD

S-L RATIO SALES INVENTORY

coquitlam

DETACHED - NOVEMBER 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 6 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

5 % DOWN

26 % DOWN

71 % UP

SELLER’S 24 %

The number of detached listings in Coquitlam fell to 376 in November, 18% below October and 26% lower year-over-year. The 89 detached sales in November represented a decrease of 8% from October but a 71% jump vs November of last year. Coquitlam’s sales-to-listings ratio increased to 24% as the detached segment remained in seller’s market territory. The benchmark price in November was $1.15M, relatively unchanged vs October and a 6% decrease year-over-year. The average sold price was $1.24M in November, down 2% vs October and 5% below November 2018.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 457

% Change

No. 509

% Change

TOTAL LISTINGS

376

-18% -8% 12%

-26% 71% 132%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

24%

21%

10%

$1,154,800 $1,151,200 0.3% $1,230,100

-6% -5%

$1,236,003 $1,261,508

-2% $1,307,310

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.23

$1.20

$1.17

$1.16

$1.15

1.83

1.79

1.77

572

568

509

504

488

1.28

1.25

414

1.24

376

Nov-18

Oct-19

Nov-19

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

coquitlam

TOWNHOME - NOVEMBER 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 4 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

SELLER’S 36 %

6 % DOWN

3 % DOWN

27 % DOWN

50 % UP

There were 92 townhome listings in Coquitlam in November 2019, 12% below October and 27% lower vs November 2018. The 33 townhome sales in November were down by 16 vs October 2019 but 11 above November 2018. The sales-to-listings ratio decreased to 36% as Coquitlam’s townhome market remained in seller’s market territory. The townhome benchmark price in November was $644,200, 0.7% below October and 4% lower vs November 2018. The average sold price was $747,182, with an aver- age PSF sales price of $480 (0.5% and 1.9% higher, respectively, vs October).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 104

% Change

No. 126

% Change

TOTAL LISTINGS

92 33

-12% -33% -24%

-27% 50% 105%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

36%

47%

17%

$644,200 $648,600 $747,182 $743,541

-0.7% $670,400 0.5% $793,364

-4% -6% -3%

$480

$471

1.9%

$493

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$670,400 $672,300 $638,500 $671,500 $653,200 $651,300 $644,200

159

157

140

126

123

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+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD QD QD

S-L RATIO SALES INVENTORY

coquitlam

CONDO - NOVEMBER 2019

AVERAGE PRICE

AVERAGE PSF PRICE 6 % UP

BENCHMARK PRICE

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

SELLER’S 30 %

3 % DOWN

0.8 % DOWN

25 % DOWN

38 % UP

The 257 condo listings in Coquitlam in November were down 19% from October and 25% lower vs November 2018. Year-over-year condo sales rose by 38% in November (to 77) but were 25% lower vs October. The sales-to-listings ratio slightly decreased to 30%, as Coquitlam’s condo market remained in seller’s market territory. The condo benchmark price in November was $518,200, relatively unchanged from October and a 0.8% decrease vs November 2018. The average sold price was $539,184 in November (down 2% vs October) while the average PSF sales price was $661 (a 4% increase vs October).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 318 103 32%

% Change

No. 341

% Change

TOTAL LISTINGS

257

-19% -25%

-25% 38% 82% -0.8%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

30%

-7%

16%

$518,200 $517,000 $539,184 $551,234

0.2% $522,300 -2% $553,080

-3%

$661

$633

$625

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$522,300 $515,500 $522,800 $517,100 $516,400 $518,200 $518,200

404

402

367

341

318

291

257

COQUITLAM REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

2 bdrms

176

<2 bdrms

. . . . 0 0 0 0 QD QD QD QD QD

S-L RATIO SALES INVENTORY

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the rennie review - December 2019