highlights • Overall, the median sales price increased by 1.1% between August and September (the first month-over-month increase since May 2019). For individual product types, the median sales price actually fell for both detached homes and townhomes (by 0.6% and 0.1%, respectively), but increased by 1.0% for condos. • Compared to one year ago, the overall median sales price was down by 0.6% in September. Detached and townhome prices were 7% and 11% lower, respectively, while the median sales price for condos equalled that of one year ago. • After a marginal increase in August, September saw a slight decrease in each of the detached-to-townhome and townhome-to-condo price ratios, settling at 1.74 and 1.25 respectively (versus 1.75 and 1.26 seen in August). This reflects the existence of slightly more favourable up-sizing opportunities.
median prices THE RENNIE ADVANCE
SEPTEMBER 2019
$1,600,000
$1.28 M
September
$1,200,000
vs Aug 2019 0.6% vs Sep 2018 7%
$800,000
DETACHED median sales price
$400,000
$0
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
$1,000,000
September
$735,000
$800,000
vs Aug 2019 0.1%
$600,000
$400,000
vs Sep 2018 11%
TOWNHOME median sales price
$200,000
$0
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
$800,000
September
$588,000
$600,000
vs Aug 2019 1.0%
$400,000
vs Sep 2018 0.0%
CONDO median sales price
$200,000
$0
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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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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