highlights • On a year-over-year basis, the region’s total inventory dropped by 24% in February 2020. Decreases of over 20% were seen across all home types, with detached down 27%, townhomes down 21%, and condos down 20%. • There was a month-over-month increase in inventory across all product-types in February, with detached up 0.5%, townhomes up 6%, and condos up 5%. These increases were, however, below the typical January-February change (which is an increase of 10% for detached and 9% for each of townhomes and condos). • The sales-to-listings ratio rose for all three home types in January. Detached increased from 11% to 17% (transitioning from a buyers’ to balanced market), 24% to 28% for townhomes (remaining a sellers’ market), and 23% to 29% for condos (remaining a sellers’ market).
total listings THE RENNIE ADVANCE
FEBRUARY 2020
0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000
10yr Feb Avg 5,326
4,107
vs Feb 2019 27%
vs 10yr Feb Avg 23%
DETACHED listings
February
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
3,000
2,500
2,000
10yr Feb Avg 1,428
1,500
1,220
vs Feb 2019 21%
1,000
TOWNHOME listings
February
vs 10yr Feb Avg 15%
500
0
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000
10yr Feb Avg 4,940
3,699
vs Feb 2019 20%
vs 10yr Feb Avg 25%
CONDO listings
February
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Copyright© 2020 renniegroupof companies.All rights reserved. Thismaterialmaynotbe reproducedordistributed, inwholeor inpart,without thepriorwrittenpermissionof the renniegroupof companies.CurrentasofMarch 2, 2020.Alldata fromRealEstateBoardofGreaterVancouver andFraserValley&Rennie.While the informationanddatacontainedhereinhasbeenobtained from sourcesdeemed reliable,accuracycannotbeguaranteed. renniegroupofcompaniesdoesnotassume responsibilityor liability forany inaccuracies. The recipientof 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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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