highlights • For the first time since January 2018, total inventory in the Greater Vancouver board area fell on a year-over-year basis (by 4%). This follows five straight months where the rate of inventory expansion had been slowing. • The overall decline in inventory was due to diminished detached listings, which were down 14% year-over-year. Townhome and condo inventory, on the other hand, rose by 9% and 7%, respectively—though this was the slowest growth since the spring of 2018. • The overall sales-to-listings (S-L) ratio increased from 16% to 18% in September. Detached transitioned from a buyer’s market to a balanced market (11% to 13%), joining townhomes (at 20%). The S-L ratio for condos increased from 20% to 23%, reflecting conditions that are now favourable to sellers.
total listings THE RENNIE ADVANCE
SEPTEMBER 2019
0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000
vs Sep 2018 14%
10yr Sep Avg 6,674
5,969
vs 10yr Sep Avg 11%
DETACHED listings
September
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
3,000
2,500
2,000
1,799
10yr Sep Avg 1,779
1,500
vs Sep 2018 9%
1,000
vs 10yr Sep Avg 1.1%
TOWNHOME listings
September
500
0
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000
10yr Sep Avg 5,754
5,183
vs Sep 2018 7%
vs 10yr Sep Avg 10%
CONDO listings
September
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Copyright © 2019 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of October 2, 2019. All data from RealEstateBoardof Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
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