the rennie review - July 2023

the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 15 SUB-MARKETS IN THE VANCOUVER REGION

published July 2023

table of contents

02 INTRO

03 WHAT YOU NEED TO KNOW

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.

04 FEATURED LISTINGS

NEIGHBOURHOOD PROFILES

05 08 11 14 17 20 23 26 29 32 35 38 41 44 47 48 51 53

Vancouver Region

Greater Vancouver Board Area Fraser Valley Board Area

Burnaby North Burnaby South

Coquitlam

Ryan Berlin SENIOR ECONOMIST VICE PRESIDENT, INTELLIGENCE rberlin@rennie.com

Ryan Wyse LEAD ANALYST & MARKET INTELLIGENCE MANAGER rwyse@rennie.com

Langley

North Delta

New Westminster North Vancouver

Richmond Squamish

Surrey

Vancouver East

Vancouver Downtown

Vancouver West West Vancouver

Whistler

56 AREA MAPS

59 CURRENT PROJECTS

Copyright © 2023 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 July 4, 2023. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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

sales and listings slow as interest rates continue to grow After months of a-seasonal trending, the housing market in the Vancouver Region changed course in June, with both sales counts and new listings declining for the first time this year.

listings were also down 9% from May, a slightly larger drop than the more typical seasonal decline of 8%.

Inventory once again expanded in June, increasing to 14,297 homes available for

purchase at the end of the month, but this was still 12% below last year’s level. And while this was an 8% increase from May, which is much more than the typical May-to-June increase of 2%, it’s still 22% below the past-10 year June average. The combination of fewer sales and more inventory led to an increase in the months- of-inventory (MOI) measure in June, which rose to 3.0, though still within the bounds of a sellers’ market (anything below 5 MOI is considered a sellers’ market). Looking ahead, expect further declines in sales counts in the summer months as fewer buyers engage with the market, and as everyone copes with what is once again a rising rate environment. And while listings usually plateau during this same period, the noted headwinds are likely to bring additional inventory to the market, eventually leading to balanced market conditions and softening prices.

Accompanying the advancement of the calendar into June was a relatively predictable, if delayed, trend in our local housing market: falling sales counts and fewer new listings, both of which had been steadily increasing since the start of the year, and both of which typically peak around March. And while each of these metrics declined from the previous month at a rate in line with their historical averages, there is likely more than just typical seasonality at play. It’s true, many Metro Vancouver residents are turning their attention away from buying and selling real estate and toward their summer holiday plans, but there are also plenty of economic headwinds blowing in that may further impact the housing market in the near term. Notably, the Bank of Canada not only ended its rate-hiking hiatus on June 7th with a 25 basis-point lift, but it gave consumers the impression that rates might increase again in July (and ultimately they did, by another 25 basis points, to 5.00% on July 12th). With even higher

interest rates and no corresponding decline in home prices—in fact, benchmark prices were up once again in June—would-be buyers’ purchasing power has, on average, been further eroded. Inflation, meanwhile, remains elevated, with the most recent read on headline inflation being 3.4%—a level that continues to make the Bank of Canada squirm. And to top it off, the labour market has shown some early signs of softening: though the national unemployment rate is still quite low, at 5.4% (5.7% here in Metro Vancouver), it has increased in each of the past 2 months. So with all that said, total MLS sales hit 4,824 in June, which is actually 32% higher than the depressed total from June 2022. Sales remained 3% below the past 10-year June average, though, and were down 4% from May (though this is in line with the typical May-to-June decrease). Meanwhile, there were 8,250 new listings last month, which was 0.2% less than last June, and 1.3% below the past-decade average. New

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John Kardos 604.613.4841

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3730 Nanaimo Street 4 Bed, 1,436 SF

Belinda Grant 604.906.2099

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Amblepath

Boardwalk 5

$1,199,900 | LADNER 8 - 4375 Cormorant Way 3 Bed, 1,450 SF

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506 - 55 Klahanie Drive 3 Bed, 1,127 SF

210 - 40147 Government Road 3 Bed, 1,314 SF Shawn Wentworth PREC* 604.379.6731

Elmira Mafi 604.537.8984

Allison Lafrenier 604.612.1271

$939,900 | RICHMOND 1505 - 6119 Cooney Road 2 Bed, 1,319 SF Rosario Gardens

Condo

Union Park

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David Ming 778.316.6668

Hanson Lu PREC* 604.787.2578

Angus Ng 778.898.3386

Condo $655,000 | RICHMOND 711 - 10033 River Drive 1 Bed, 711 SF Tony Liang PREC* 604.781.9988

Chelsea Gardens $594,999 | SURREY 124 - 13880 70 Avenue 3 Bed, 1,334 SF

Terra West $588,000 | RICHMOND 305 - 6011 No. 1 Road 1 Bed, 505 SF

Dal Milin PREC* 778.881.9021

Art Seroff PREC* 778.223.0033

Copyright © 2023 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 July 4, 2023. 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.

vancouverregion DETACHED -JUNE 2023

SALES TO LISTINGSRATIO 24% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere6,758 detached listingsin theVancouver Region in June,11% aboveM ayand 11% lowerthan June 2022. Junedetached hom esalesdecreased by 5% m onth-over-m onth,to1,619,and were49% aboveJune 2022. Thesales-to-listing ratio fordetached in the Vancouver Region,at24% ,reflected aselers'm arket.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 0.4% VS 2022

▲ 1.2% VS 2022

▼ 11% VS 2022

▲ 49% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

1,619 6,758

1,083 7,630

0.4% 1.2% 69% 49% -11%

1,698 6,112

-3% -2% -14% -5% 11%

Thedetachedm edian pricein Junewas$1,670,000,a2% decreasefrom M ayand 1.2% aboveJune2022.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$1,916,908 $1,670,000 24%

$1,970,579 $1,710,000 28%

$1,908,616 $1,650,000 14%

Theaveragesold pricewas$1,916,908,3% below last m onth and up 0.4% toJune2022.

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

7,630

6,847

7,416

6,495

6,758

6,12

6,997

5,942

1.86

1.83

1.80

4,816

5,226

5,016

4,786

4,553

1.45

1.41

1.39

1,698

1,325

1,619

887

905

803

631

1,083

514

1,398

872

857

836

$1.65M

$1.65M $1.71M $1.67M

$1.60M $1.53M $1.52M $1.54M $1.50M $1.50M

$1.45M $1.55M $1.56M

22-Jun

23-M ay 23-Jun

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

2000

1500

1000

42%

41%

38%

33%

31%

29%

26%

500

16%

<$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+ 1,844 135 7%

S-L RATIO SALES INVENTORY

117 49 42%

63 21 33%

220 63 29%

392 148 38%

787 320 41%

1,637 515 31%

948 249 26%

750 119 16%

Copyright© July4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly4,2023.Aldatafrom RealEstateBoardof GreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipient oftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained from aren ieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.

●

vancouverregion TOWNHOME-JUNE 2023

SALES TO LISTINGSRATIO 52% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,836 townhom elistingsin theVancouver Region in June,3% aboveM ayand 26% lowerthan June 2022. Junetownhom esalesincreased by0.2% m onth-over-m onth,to947,and were21% aboveJune 2022. Thesales-to-listing ratio fortow nhom esin theVancouver Region,at52% ,reflected aselers'm arket. Thetownhom em edian pricein Junewas$915,000,a 0.9% decreasefrom M ayand 0.5% below June2022. Theaveragesold pricewas$1,003,978,0.4% below last m onth;theaveragePSF salepricewas$664,down 1.1% tolastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▼ 3% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 1.5% VS 2022

▼ 0.5% VS 2022

▼ 26% VS 2022

▲ 21% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

52% 947 1,836

31% 782 2,485

-3% -1.5% -0.5% 64% 21% -26%

53% 945 1,788

-1.1% -0.4% -0.9% -2% 0.2% 3%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$664 $1,003,978 $915,000

$671 $1,007,590 $923,000

$686 $1,019,238 $920,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 202 ● JUN 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

2,485

2,234

2,498

2,162

1,998

2,252

1,788

1,836

1,570

1,588

1,567

1,528

1,506

945

947

757

782

573

548

516

784

479

467

415

340

289

$920K $895K

$923K $915K

$852K $850K $870K $860K $840K $810K

$860K $865K $899K

VancouverRegion REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

600

197

4+ bdrms

500

448

400

509

63% 64%

3 bdrms

56% 58%

300

945

47%

40%

200

34%

229

21%

2 bdrms

100

409

<$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

30 14 47%

65 41 63%

330 210 64%

582 325 56%

310 180 58%

236 94 40%

188 63 34%

95 20 21%

Copyright© July4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly4,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 6 ●

vancouverregion CONDO -JUNE 2023

SALES TO LISTINGSRATIO 41% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 2% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 1.0% VS 2022

▲ 2% VS 2022

▼ 8% VS 2022

▲ 24% VS 2022

Therewere5,203 condolistingsin theVancouverRegion in June,6% aboveM ayand 8% lowerthan June2022.

Junecondo salesdecreased by5% m onth-over-m onth,to 2,146,and were24% aboveJune2022.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

Thesales-to-listing ratio forcondosin the Vancouver Region,at41% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

2,146 5,203

1,731 5,676

35% 24% -8%

2,252 4,924

-1.1% -2% -1.5% -10% -5% 6%

Thecondom edian pricein Junewas$665,000,a1.5% decreasefrom M ayand 2% aboveJune2022. Theaveragesold pricewas$744,569,2% below last m onth;theaveragePSF salepricewas$885,down 1.1% tolastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$885 $744,569 $665,000 41%

$864 $736,875 $650,000 30%

$896 $762,260 $675,000 46%

2% 1% 2%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 202 ● JUN 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

5,676

5,275

5,592

5,203

5,526

5,499

4,753

4,603

5,232

4,924

4,769

4,365

4,138

2,252

1,809

2,146

1,731

1,310

1,274

1,900

1,121

1,418

1,217

1,171

924

771

$675K $665K

$650K $640K $645K $620K $635K $625K

$625K $630K $630K $640K $652K

VancouverRegion REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

1500

35 1

4+ bdrms

1000

122

59%

3 bdrms

576

50%

49%

39%

500

32%

1,172

2 bdrms

20%

2,870

10% 9%

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

851

S-L RATIO SALES INVENTORY

216 106 49%

1,186 698 59%

1,452 720 50%

895 353 39%

445 142 32%

328 64 20%

316 31 10%

365 32 9%

<2 bdrms

1,722

Copyright© July4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly4,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 7 ●

greatervancouverboard area DETACHED -JUNE 2023

SALES TO LISTINGSRATIO 21% SELLERS'M ARKET

▶ MARKETSUMMARY Therew ere 3,964 detached listingsin the G reater Vancouverboard areain June,11% aboveM ayand 12% lowerthan June2022. Junedetached hom esalesdecreased by18% m onth-over-m onth,to847,and were29% aboveJune 2022. Thesales-to-listing ratio fordetached in the G reater Vancouverboard area,at21% ,reflected aselers'm arket.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 2% VS 2022

▲ 3% VS 2022

▼ 12% VS 2022

▲ 29% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

21% 847 3,964

15% 657 4,499

46% 29% -12%

1,038 3,579

-1.1% -2% -26% -18% 11%

Thedetachedm edian pricein Junewas$1,860,000,a2% decreasefrom M ayand 3% aboveJune2022.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$2,169,599 $1,900,000 29%

Theaveragesold pricewas$2,145,790,1.1% below last m onth and up 2% toJune2022.

$2,145,790 $1,860,000

$2,102,987 $1,800,000

2% 3%

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

4,499

4,148

3,954

4,375

3,964

4,187

3,598

1.82

1.77

3,579

2,968

1.71

3,228

3,077

2,928

1.51

2,801

1.48

1.45

1,038

734

578

847

490

657

373

301

807

530

524

532

513

$1.80M $1.74M $1.70M

$1.81M $1.88M $1.90M $1.86M $1.71M

$1.69M $1.70M $1.58M

$1.68M $1.72M

22-Jun

23-M ay 23-Jun

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

1400

1200

1000

800

42%

600

38%

34%

33%

30%

400

22%

17%

14%

200

<$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+ 1,424 100 7%

S-L RATIO SALES INVENTORY

53 20 38%

44 6 14%

101 22 22%

145 49 34%

290 122 42%

823 269 33%

575 173 30%

509 86 17%

●

greatervancouverboard area TOWNHOME-JUNE 2023

SALES TO LISTINGSRATIO 46% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,026 townhom elistingsin theG reater Vancouverboard areain June,4% aboveM ayand 11% lowerthan June2022. Junetownhom esalesdecreased by6% m onth-over-m onth,to470,and were12% aboveJune 2022. Thesales-to-listing ratio fortow nhom esin theG reater Vancouverboard area,at46% ,reflected aselers'm arket. Thetownhom em edian pricein Junewas$1,091,250,a 4% increasefrom M ayand 5% aboveJune2022. Theaveragesold pricewas$1,148,174,0.3% abovelast m onth;theaveragePSF salepricewas$787,down 0.3% tolastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▼ 0.9% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 0.4% VS 2022

▲ 5% VS 2022

▼ 11% VS 2022

▲ 12% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No. 51% 500 990

% Change

TOTALLISTINGS TOTALSALES

46% 470 1,026

36% 421 1,155

-0.9% -0.4% 5% 26% 12% -11%

-9% -6% 4%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$787 $1,148,174 $1,091,250

$790 $1,145,279 $1,050,000

-0.3% 0.3% 4%

$794 $1,152,753 $1,038,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 202 ● JUN 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,191

1,161

1,155

1,053

990

1,17

1,096

1,026

909

844

816 822

500

421

470

368

306

290

271

396

186

245

232

226

120

$1.05M $1.05M $1.09M

$1.04M

$1.04M $1000K

$1.02M

$995K $945K $950K

$949K $987K $979K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

200

4+ bdrms

196

150

68%

65%

255

57%

3 bdrms

52%

539

100

39%

33%

120

21%

2 bdrms

14%

261

<2 bdrms

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

S-L RATIO SALES INVENTORY

14 2 14%

26 17 65%

104 71 68%

206 108 52%

203 116 57%

200 77 39%

178 59 33%

95 20 21%

Copyright© July4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly4,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 9 ●

greatervancouverboard area CONDO -JUNE 2023

SALES TO LISTINGSRATIO 40% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 5% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 4% VS 2022

▼ 10% VS 2022

▲ 19% VS 2022

Therewere3,931 condolistingsin theG reater Vancouverboard areain June,5% aboveM ayand 10% lowerthan June2022. Junecondo salesdecreased by9% m onth-over-m onth,to 1,576,and were19% aboveJune2022.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

Thesales-to-listing ratio forcondosin the G reater Vancouverboard area,at40% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

1,576 3,931

1,325 4,358

32% 19% -10%

1,735 3,735

-0.2% -1.1% -0.4% -14% -9% 5%

Thecondom edian pricein Junewas$725,000,a0.4% decreasefrom M ayand 4% aboveJune2022. Theaveragesold pricewas$814,206,1.1% below last m onth;theaveragePSF salepricewas$965,down 0.2% tolastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$965 $814,206 $725,000 40%

$916 $785,434 $698,000 30%

$968 $823,415 $728,000 46%

5% 4% 4%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 202 ● JUN 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

4,358

4,038

4,298

3,693

4,223

4,193

3,931

3,996

3,735

3,707

3,530

3,348

3,163

1,735

1,318

1,576

1,325

1,005

997

1,413

1,062

932

892

848

707

573

$698K $694K $690K $670K $677K

$680K $685K $690K $680K $705K $720K $728K $725K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

1000

32 1

4+ bdrms

800

66%

103

600

3 bdrms

55%

492

40%

400

31%

812

2 bdrms

20%

200

2,121

10% 9%

660

<$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

97 39 40%

555 366 66%

1,061 583 55%

820 332 40%

425 133 31%

316 63 20%

304 29 10%

353 31 9%

1,286

Copyright© July4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly4,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 10 ●

fraservaley board area DETACHED -JUNE 2023

SALES TO LISTINGSRATIO 28% SELLERS'M ARKET

▶ MARKETSUMMARY Therew ere 2,794 detached listingsin the FraserValey board areain June,10% aboveM ayand 11% lowerthan June2022. Junedetached hom esalesincreased by17% m onth-over-m onth,to772,and were81% aboveJune 2022. Thesales-to-listing ratio fordetached in the FraserValey board area,at28% ,reflected aselers'm arket.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 4% VS 2022

▲ 1.7% VS 2022

▼ 11% VS 2022

▲ 81% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

28% 772 2,794

14% 426 3,131

4% 1.7% 103% 81% -11%

26% 660 2,533

0.5% 0% 6% 17% 10%

Thedetachedm edian pricein Junewas$1,500,000,a0% changefrom M ayand 1.7% aboveJune2022.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

Theaveragesold pricewas$1,665,791,0.5% abovelast m onth and up 4% toJune2022.

$1,657,575 $1,500,000

$1,665,791 $1,500,000

$1,608,848 $1,475,000

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

3,131

2,699

3,041

2,794

2,533

2,810

2,344

1.76

1.73

2,541

1.61

1,939

1.58

1.59

1,998

1,858

1,848

1,752

591

772

363

327

313

258

660

426

213

591

342

325

323

$1.48M

$1.42M $1.34M

$1.43M $1.50M $1.50M

$1.32M $1.32M $1.24M

$1.28M $1.28M $1.31M $1.35M

22-Jun

23-M ay 23-Jun

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

800

79%

600

400

45%

40%

34%

30%

200

20%

14%

<$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

64 29 45%

19 15 79%

119 41 34%

247 99 40%

497 198 40%

814 246 30%

373 76 20%

241 33 14%

420 35 8%

●

fraservaley board area TOWNHOME-JUNE 2023

SALES TO LISTINGSRATIO 59% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere810 townhom elistingsin theFraserValey board areain June,1.5% aboveM ayand 39% lowerthan June2022. Junetownhom esalesincreased by7% m onth-over-m onth,to477,and were32% aboveJune 2022. Thesales-to-listing ratio fortow nhom esin theFraser Valey board area,at59% ,reflected aselers'm arket. Thetownhom em edian pricein Junewas$851,300,a 0.2% increasefrom M ayand 0.4% below June2022. Theaveragesold pricewas$861,899,1.1% abovelast m onth;theaveragePSF salepricewas$542,up 0.9% to lastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▼ 3% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 0.2% VS 2022

▼ 0.4% VS 2022

▼ 39% VS 2022

▲ 32% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No. 56% 445 798

% Change

TOTALLISTINGS TOTALSALES

59% 477 810

27% 361 1,330

-3% -0.2% -0.4% 117% 32% -39%

0.9% 1.1% 0.2% 6% 7% 1.5%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$542 $861,899 $851,300

$537 $852,883 $850,000

$559 $863,531 $855,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 202 ● JUN 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,330

1,307

1,17

1,156

945

1,001

798

810

684

751

684

679

661 389

445

477

283

361

245

388

242

234

235

189

154 169

$855K $843K

$808K $839K $850K $851K

$790K $780K $770K $798K $745K $745K $770K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

400

110

4+ bdrms

252

300

75%

254

62% 62%

58% 60%

3 bdrms

200

406

47%

40%

109

100

2 bdrms

148

4 4

<2 bdrms

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

S-L RATIO SALES INVENTORY

16 12 75%

39 24 62%

226 139 62%

376 217 58%

107 64 60%

36 17 47%

10 4 40%

Copyright© July4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly4,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 12 ●

fraservaley board area CONDO -JUNE 2023

SALES TO LISTINGSRATIO 45% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,272 condolistingsin theFraserValey board areain June,7% aboveM ayand 3% lowerthan June2022. Junecondo salesincreased by10% m onth-over-m onth,to 570,and were40% aboveJune2022.

AVERAGEPRICE

AVERAGE PSF PRICE ▼ 5% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 5% VS 2022

▼ 2% VS 2022

▼ 3% VS 2022

▲ 40% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

Thesales-to-listing ratio forcondosin the FraserValey board area,at45% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

45% 570 1,272

31% 406 1,318

-5% -5% -2% 45% 40% -3%

43% 517 1,189

1.6% -0.9% -1.4% 3% 10% 7%

Thecondom edian pricein Junewas$527,500,a1.4% decreasefrom M ayand 2% below June2022. Theaveragesold pricewas$552,028,0.9% below last m onth;theaveragePSF salepricewas$665,up 1.6% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$665 $552,028 $527,500

$654 $557,029 $535,000

$696 $578,399 $539,800

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 202 ● JUN 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,318

1,237

1,272

1,189

1,306 1,303

1,294

1,236

1,073

1,060

1,062

1,017

975

491

570

517

406

487

273

356

305

285

279 277

217

198

$540K $535K

$515K $500K $505K $490K $485K

$497K $499K $510K $510K $535K $528K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

600

4+ bdrms

500

400

3 bdrms

56%

53%

300

45%

35%

200

28%

360

2 bdrms

17%

749

100

191

<$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

119 67 56%

631 332 53%

391 137 35%

75 21 28%

20 9 45%

12 1 8%

12 2 17%

436

12 1

Copyright© July4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly4,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 13 ●

burnabynorth DETACHED -JUNE 2023

SALES TO LISTINGSRATIO 26% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 4% VS 2022

▲ 0.3% VS 2022

▼ 34% VS 2022

▲ 5% VS 2022

Therewere87 detachedlistingsin BurnabyN orth in June,1.2% aboveM ayand 34% lowerthan June2022.

Junedetached hom esalesdecreased by45% m onth-over-m onth,to23,and were5% aboveJune2022.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

Thesales-to-listing ratio fordetached in Burnaby N orth, at26% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

23 87

$2,271,718 $2,044,500 17% 22 131

-4% 0.3% 57% 5% -34%

42 86

-46% -45% 1.2%

Thedetachedm edian pricein Junewas$2,050,000,a 0.0% increasefrom M ayand 0.3% aboveJune2022.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$2,181,991 $2,050,000 26%

$2,124,339 $2,049,400 49%

Theaveragesold pricewas$2,181,991,3% abovelast m onthand down 4% toJune2022.

3% 0%

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

131

122

2.59

109

2.47

2.38

1.32

1.14

$2.09M $2.05M $2.05M

$2.04M $2.08M

$2.04M $1.96M

$1.96M $1.93M $1.89M

$1.79M

$1.75M $1.71M

22-Jun

23-M ay 23-Jun

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

100%

33%

32%

30%

<$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 1 100%

30 9 30%

22 7 32%

12 4 33%

22 2 9%

●

burnabynorth TOWNHOME-JUNE 2023

SALES TO LISTINGSRATIO 68% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▼ 3% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 2% VS 2022

▼ 3% VS 2022

▼ 11% VS 2022

▲ 24% VS 2022

Therewere31 townhom elistingsin BurnabyN orth in June,9% below M ayand 11% lowerthan June2022. Junetownhom esalesdecreased by32% m onth-over-m onth,to21,and were24% aboveJune 2022. Thesales-to-listing ratio fortow nhom esin Burnaby N orth,at68% ,reflected aselers'm arket. Thetownhom em edian pricein Junewas$830,000,a5% increasefrom M ayand 3% below June2022. Theaveragesold pricewas$853,562,3% below last m onth;theaveragePSF salepricewas$639,down 6% to lastm onth.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

21 31

17 35

39% 24% -11%

31 34

-26% -32% -9%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$639 $853,562 $830,000 68%

$657 $873,847 $860,000 49%

$682 $878,387 $790,000 91%

-6% -3% 5%

-3% -2% -3%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 202 ● JUN 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

34 34

25 25 25

$969K

$880K $885K $900K

$875K $868K

$860K

$790K $830K

$770K $748K $775K

$748K

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

71%

3 bdrms

36%

33%

2 bdrms

<2 bdrms

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

S-L RATIO SALES INVENTORY

3 5 167%

7 5 71%

11 4 36%

4 5 125%

6 2 33%

Copyright© July4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly4,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 15 ●

burnabynorth CONDO -JUNE 2023

SALES TO LISTINGSRATIO 40% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 8% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 11% VS 2022

▲ 12% VS 2022

▼ 0.3% VS 2022

▲ 26% VS 2022

Therewere299 condolistingsin BurnabyN orth in June, 0.7% below M ayand 0.3% lowerthan June2022.

Junecondo salesincreased by0.8% m onth-over-m onth, to121,and were26% aboveJune2022.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No. 40% 120 301

% Change

Thesales-to-listing ratio forcondosin Burnaby N orth,at 40% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

40% 121 299

$861 $678,294 $649,500 32% 96 300

8% 11% 12% 26% 26% -0.3%

-5% 0.2% 5% 1.5% 0.8% -0.7%

Thecondom edian pricein Junewas$730,000,a5% increasefrom M ayand 12% aboveJune2022. Theaveragesold pricewas$751,752,0.2% abovelast m onth;theaveragePSF salepricewas$933,down 5% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$933 $751,752 $730,000

$986 $750,076 $695,950

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUN 202 ● JUN 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

287

300

299

268

301

264

301

253

270

257

251

245

218

120

121

88 82

$704K $667K $707K $661K $708K $680K

$696K $730K

$650K $671K $676K

$651K $692K

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

57%

3 bdrms

42%

36%

23%

2 bdrms

185

10% 10%

<$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

55 23 42%

102 58 57%

89 32 36%

26 6 23%

10 1 10%

6 0 n/a

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