rennie advance - March 2020

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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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

Made with FlippingBook - professional solution for displaying marketing and sales documents online