highlights • Across the Greater Vancouver board area, February’s median sale price rose by 4% month-over-month for both detached and condos, yet fell by 0.4% for townhomes. • The detached median price was up by 8% in February on a year-over-year basis, marking the largest such increase since January 2018. Both condo and townhome prices increased as well, with the former rising 4% and the latter increasing by 0.9%, year-over-year. • Reflecting more favourable conditions for households looking to down-size, the detached-to-townhome price ratio jumped from 1.76 to 1.85 (its highest level since January 2018). The townhome-to-condo price ratio fell to 1.23 in February (its lowest level since June 2013), reflecting greater opportunities for those looking to up-size their home.
median prices THE RENNIE ADVANCE
FEBRUARY 2020
$1,600,000
$1.38 M
February
$1,200,000
vs Jan 2020 4%
$800,000
vs Feb 2019 8%
DETACHED median sales price
$400,000
$0
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
$1,000,000
February
$747,000
$800,000
$600,000
vs Jan 2020 0.4%
$400,000
TOWNHOME median sales price
vs Feb 2019 0.9%
$200,000
$0
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
$800,000
February
$605,000
$600,000
vs Jan 2020 4%
$400,000
vs Feb 2019 4%
CONDO median sales price
$200,000
$0
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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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