the rennie review - October 2021

the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION

published October 2021

table of contents

02 INTRO

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.

03 WHAT YOU NEED TO KNOW

04 FEATURED LISTINGS

NEIGHBOURHOOD PROFILES

05 08 11 14 17 20 23 26 29 32 35 38 41 44

Vancouver Region

Greater Vancouver Board Area Fraser Valley Board Area

Burnaby North Burnaby South

Ryan Berlin DIRECTOR OF INTELLIGENCE & SENIOR ECONOMIST rberlin@rennie.com

Ryan Wyse SENIOR ANALYST rwyse@rennie.com

Coquitlam

Langley

North Vancouver

Richmond Squamish

Surrey

Vancouver East Vancouver West West Vancouver

49 CURRENT PROJECTS

Copyright © 2021 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 12, 2021. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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

a common refrain: inventory is constrained

If not for recent record-highs in new listing activity, the continued presence of strong buyer demand would have whittled inventory down to improbably low levels. As it stands, last month’s inventory count merely represented an all-time September nadir.

to a previous 12-month high of 92,752 in September 2016. So incredibly, despite the region’s sales-to- listings ratio sitting comfortably in sellers’ market territory since June 2020—meaning the housing market playing field has been tilted in favour of sellers for 16 months, bidding up sold prices—the lack of balance in our current market would be far worse than it is if we hadn’t achieved record new listings activity. In some ways, new listings have played the role of unsung hero, accruing in the background at never-seen- before levels while most of the attention has remained on elevated sales counts and depleted inventory. The early returns for October are showing further declines in inventory as sales counts are marching upwards and new listings slow (at the margin). If this continues for the next few months, we could see conditions remain challenging for buyers through to the new year.

The main real estate story in the Vancouver Region has been, and continues to be, centred on housing supply—or rather, a lack thereof. To be more precise, inventory levels—that is, the number of homes available for purchase at a given point in time—fell to 12,379 in September, which is the lowest count for any September since such data were first collected in 1989. September was the fifth straight month of receding inventory, with last month’s count down 36% from 2020’s September number. What gives? Well, for all of the chatter about softening sales counts, the fact remains that buyers continue to be active in our region’s housing market. For example, while we failed to crack the 5,000 threshold for sales in September, we did tally 4,951, which is 29% higher than the past 10-year average for September.

It extends a run dating back to the end of 2020 which has seen more sales accrue in the past 12 months (71,551) than in any 12-month period pre-dating the pandemic (the next highest 12-month sales count ended in June 2016, at 71,299). So demand is strong (notably in spite of the relative dearth of international migrants we’ve welcomed since the beginning of Covid!). Having noted the above, it is tremendously fascinating to us that new listings activity— that is, the number of homes that are newly-listed on MLS each month (which are added to that month’s inventory if they don’t sell)—has reached feverish levels. To be specific, the past-12-month new listings count in the Vancouver Region was in excess of 100,000 in September, sitting at 100,295. This metric has been above the 100,000 threshold for 6 consecutive months and peaked at 108,604 in May. Compare this

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1 Bed + Den, 515 SF Biannca Gurniak 604.813.6605

Copyright © 2021 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 12, 2021. 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-SEPTEMBER 2021

SALESTO LISTINGSRATIO 32% SELLERS'MARKET

▶ MARKETSUMMARY Therewere5,397detachedlistingsintheVancouver RegioninSeptember,2%belowAugustand29%lower thanSeptember2020. Septemberdetachedhomesalesdecreasedby5% month-over-month,to1,701,andwere27%below September2020. Thesales-to-listingratiofordetachedintheVancouver Region,at32%,reflectedaselers'market. ThedetachedmedianpriceinSeptemberwas $1,537,000,a4%increasefromAugustand24%above September2020. Theaveragesoldpricewas$1,761,105,0.9%abovelast monthandup20%toSeptember2020.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 20% VS2020

▲ 24% VS2020

▼ 28% VS2020

▼ 27% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

1,701 5,397

2,338 7,599

20% 24% 2% -27% -29%

1,793 5,531

-3% -5% -2%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$1,761,105 $1,537,000 32%

$1,745,989 $1,480,000 32%

$1,471,403 $1,240,000 31%

0.9% 4%

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIANPRICE

7,569

7,599

7,107

7,015

7,333

5,980

5,968

1.89

1.87

6,236

1.83

5,397

5,531

4,502

3,503

4,379

4,282

1.40

2,751

1.34

2,420

3,039

1,998

2,338

1.21

2,418

2,230

1,701

2,16

1,899

1,793

1,489

$1.54M

$1.50M

$1.48M $1.41M

$1.48M

$1.47M

$1.45M

$1.35M

$1.30M

$1.27M

$1.24M

$1.25M

Sep-20

Aug-21

Sep-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

2000

99%

1500

70%

62%

1000

49%

43%

26%

500

13%

<$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+ 1,824 127 7%

S-LRATIO SALES INVENTORY

105 45 43%

51 25 49%

138 96 70%

255 253 99%

575 358 62%

1,067 525 49%

705 181 26%

677 91 13%

Copyright©October12,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofOctober12,2021.AldatafromRealEstateBoard ofGreaterVancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.reniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.The recipientoftheinformationshouldtakestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfromarennieandasociatesadvisor.Alinformationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromrenniegroupofcompanies.E.&O.E.

●

vancouverregion TOWNHOME-SEPTEMBER 2021

SALESTO LISTINGSRATIO 69% SELLERS'MARKET

▶ MARKETSUMMARY Therewere1,358townhomelistingsintheVancouver RegioninSeptember,6%belowAugustand54%lower thanSeptember2020. Septembertownhomesalesdecreasedby8% month-over-month,to943,andwere21%below September2020. Thesales-to-listingratiofortownhomesintheVancouver Region,at69%,reflectedaselers'market. ThetownhomemedianpriceinSeptemberwas $839,000,a6%increasefromAugustand28%above September2020. Theaveragesoldpricewas$931,563,7%abovelast month;theaveragePSFsalepricewas$617,up5%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 25% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 25% VS2020

▲ 28% VS2020

▼ 54% VS2020

▼ 21% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

69% 943 1,358

1,196 2,956

25% 25% 28% 72% -21% -54%

1,021 1,441

-2% -8% -6%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$493 $744,714 $655,500 40%

$589 $874,481 $790,000 71%

$617 $931,563 $839,000

5% 7% 6%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● SEP 2020 ● SEP 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

2,956

2,619

2,262

2,026 2,039

1,980

1,747

1,727

1,643

1,608

1,487

1,441

1,414

1,682

1,291

1,588

1,358

1,405

1,021

1,196

1,204

943

1,071

1,013

998

836

$839K

$788K

$790K

$780K

$785K

$776K

$782K

$720K

$688K

$675K

$671K

$665K

$656K

VANCOUVERREGION REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

400

192

4+bdrms

91%

239

84% 81%

300

533

62%

3bdrms

200

739

42%

29% 28%

28%

199

100

2bdrms

359

21 19

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

<2bdrms

S-LRATIO SALES INVENTORY

25 7 28%

113 70 62%

389 327 84%

345 279 81%

163 148 91%

140 59 42%

112 33 29%

71 20 28%

Copyright©October12,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofOctober12,2021.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 6 ●

vancouverregion CONDO-SEPTEMBER 2021

SALESTO LISTINGSRATIO 41% SELLERS'MARKET

▶ MARKETSUMMARY Therewere5,300condolistingsintheVancouverRegion inSeptember,4%aboveAugustand36%lowerthan September2020. Septembercondosalesdecreasedby1.6% month-over-month,to2,194,andwere6%above September2020. Thesales-to-listingratioforcondosintheVancouver Region,at41%,reflectedaselers'market. ThecondomedianpriceinSeptemberwas$598,400,a 1.4%increasefromAugustand11%aboveSeptember 2020. Theaveragesoldpricewas$675,739,0.5%abovelast month;theaveragePSFsalepricewas$795,up0.5%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 10% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 6% VS2020

▲ 11% VS2020

▼ 36% VS2020

▲ 6% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

2,194 5,300

2,079 8,297

10% 6% 11% 65% 6% -36%

2,230 5,103

0.5% 0.5% 1.4% -5% -1.6% 4%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$795 $675,739 $598,400 41%

$725 $636,087 $540,000 25%

$791 $672,418 $590,000 44%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● SEP 2020 ● SEP 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

8,297

7,335

8,024

6,051

6,001

5,830

5,628

5,595

5,300

5,697

5,402 5,355

5,103

3,507

2,830

2,066

1,936

2,981

2,194

2,079

2,435

2,402 2,234 2,230

1,797

1,560

$598K

$590K

$585K

$588K

$583K

$575K

$550K

$540K

$542K

$532K

$530K

VANCOUVERREGION REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

1400

28 4

4+bdrms

1200

1000

121

62% 61%

3bdrms

800

605

47%

600

31%

1,244

400

25%

2bdrms

17%

3,118

12%

200

825

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

<2bdrms

S-LRATIO SALES INVENTORY

361 225 62%

1,445 882 61%

1,330 621 47%

856 266 31%

398 98 25%

290 49 17%

275 32 12%

345 21 6%

1,549

Copyright©October12,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofOctober12,2021.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 7 ●

greatervancouverboardarea DETACHED-SEPTEMBER 2021

SALESTO LISTINGSRATIO 26% SELLERS'MARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 14% VS2020

▲ 16% VS2020

▼ 20% VS2020

▼ 27% VS2020

Therewere3,656detachedlistingsintheGreater VancouverboardareainSeptember,0.9%belowAugust and20%lowerthanSeptember2020. Septemberdetachedhomesalesincreasedby1.4% month-over-month,to952,andwere27%below September2020. Thesales-to-listingratiofordetachedintheGreater Vancouverboardarea,at26%,reflectedaselers'market. ThedetachedmedianpriceinSeptemberwas $1,672,500,a1.4%increasefromAugustand16%above September2020. Theaveragesoldpricewas$1,947,960,2%belowlast monthandup14%toSeptember2020.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

26% 952 3,656

1,308 4,580

14% 16% -9% -27% -20%

25% 939 3,688

-2% 1.4% 2% 1.4% -0.9%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$1,712,728 $1,439,048 29%

$1,988,697 $1,650,000

$1,947,960 $1,672,500

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIANPRICE

4,523

4,741

4,389

4,580

4,237

3,742

3,664

1.85

4,051

1.83

3,656

3,688

1.72

2,905

2,864

1.48

2,762

1,960

1.40

1,652

1.28

1,343

1,265

1,308

1,020

1,423

1,223

952

1,063

1,044

939

739

$1.70M

$1.67M

$1.65M $1.60M

$1.64M

$1.65M

$1.63M

$1.61M

$1.52M

$1.50M

$1.48M

$1.44M

Sep-20

Aug-21

Sep-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

1400

100%+

1200

1000

67%

62%

800

55%

48%

43%

600

26%

400

15%

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+ 1,438 102 7%

S-LRATIO SALES INVENTORY

36 24 67%

31 15 48%

65 40 62%

90 103 114%

284 157 55%

699 301 43%

504 132 26%

509 78 15%

●

greatervancouverboardarea TOWNHOME-SEPTEMBER 2021

SALESTO LISTINGSRATIO 59% SELLERS'MARKET

▶ MARKETSUMMARY Therewere844townhomelistingsintheGreater VancouverboardareainSeptember,5%belowAugust and49%lowerthanSeptember2020. Septembertownhomesalesdecreasedby3% month-over-month,to494,andwere22%below September2020. Thesales-to-listingratiofortownhomesintheGreater Vancouverboardarea,at59%,reflectedaselers'market. ThetownhomemedianpriceinSeptemberwas $970,000,a8%increasefromAugustand24%above September2020. Theaveragesoldpricewas$1,072,365,6%abovelast month;theaveragePSFsalepricewas$732,up5%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 24% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 24% VS2020

▼ 49% VS2020

▼ 22% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No. 57% 507 889

%Change

TOTALLISTINGS TOTALSALES

59% 494 844

39% 636 1,645

24% 24% 24% 51% -22% -49%

-3% -5%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

5% 6% 8% 3%

$732 $1,072,365 $970,000

$698 $1,011,939 $900,000

$590 $864,832 $779,900

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● SEP 2020 ● SEP 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

1,645

1,260

1,440

1,193

1,154

1,086

956

901

847

1,037

956

844

506 929

678

889

634

636

706

616

494

536

519

507

372

$970K

$910K

$900K

$901K

$900K

$909K

$900K

$815K

$816K

$790K

$791K

$780K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

200

4+bdrms

90%

112

150

75%

66%

277

59%

3bdrms

100

486

50%

42%

30% 28%

116

2bdrms

229

17 16

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

<2bdrms

S-LRATIO SALES INVENTORY

4 2 50%

35 23 66%

180 106 59%

189 142 75%

127 114 90%

130 55 42%

108 32 30%

71 20 28%

Copyright©October12,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofOctober12,2021.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 9 ●

greatervancouverboardarea CONDO-SEPTEMBER 2021

SALESTO LISTINGSRATIO 37% SELLERS'MARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 9% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 6% VS2020

▲ 8% VS2020

▼ 32% VS2020

▲ 2% VS2020

Therewere4,395condolistingsintheGreater VancouverboardareainSeptember,5%aboveAugust and32%lowerthanSeptember2020. Septembercondosalesremainedthesame month-over-month,at1,632,andwere2%above September2020. Thesales-to-listingratioforcondosintheGreater Vancouverboardarea,at37%,reflectedaselers'market. ThecondomedianpriceinSeptemberwas$655,000,a 1.6%increasefromAugustand8%aboveSeptember 2020. Theaveragesoldpricewas$738,230,0.2%belowlast month;theaveragePSFsalepricewas$870,down0.6% tolastmonth.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

1,632 4,395

1,594 6,429

9% 6% 8% 50% 2% -32%

1,632 4,166

0% 5%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$870 $738,230 $655,000 37%

$800 $698,742 $608,000 25%

$875 $739,437 $645,000 39%

-0.6% -0.2% 1.6% -5%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● SEP 2020 ● SEP 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

6,429

5,736

6,275

4,780

4,714

4,486

4,395

4,465

4,441

4,288

4,210

2,689 4,165

4,166

2,049

1,571

1,476

2,283

1,632

1,594

1,766

1,786 1,678

1,632

1,367

1,189

$655K

$650K

$645K

$637K

$638K

$635K

$619K

$608K

$598K

$588K

$590K

$587K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

1200

28 2

4+bdrms

1000

800

3bdrms

53% 56%

600

512

48%

400

31%

887

24%

2bdrms

17%

2,583

200

12%

656

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

<2bdrms

S-LRATIO SALES INVENTORY

160 85 53%

980 546 56%

1,164 557 48%

824 252 31%

380 92 24%

281 47 17%

266 32 12%

340 21 6%

1,272

Copyright©October12,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofOctober12,2021.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 10 ●

fraservaleyboardarea DETACHED-SEPTEMBER 2021

SALESTO LISTINGSRATIO 43% SELLERS'MARKET

▶ MARKETSUMMARY Therewere1,741detachedlistingsintheFraserValey boardareainSeptember,6%belowAugustand42% lowerthanSeptember2020. Septemberdetachedhomesalesdecreasedby11% month-over-month,to746,andwere27%below September2020. Thesales-to-listingratiofordetachedintheFraserValey boardarea,at43%,reflectedaselers'market. ThedetachedmedianpriceinSeptemberwas $1,412,500,a4%increasefromAugustand35%above September2020. Theaveragesoldpricewas$1,524,808,3%abovelast monthandup31%toSeptember2020.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 31% VS2020

▲ 35% VS2020

▼ 42% VS2020

▼ 27% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

43% 746 1,741

1,022 3,019

31% 35% 27% -27% -42%

46% 841 1,843

3% 4% -6% -11% -6%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$1,167,098 $1,049,000 34%

$1,483,749 $1,358,000

$1,524,808 $1,412,500

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIANPRICE

2,944

3,019

2,828

2,778

2,584

2,304

2,238

1.85

1.77

2,185

1.62

1.58

1,597

1,741

1,530

1.52

1,843

1,322

1,184

1,515

1,520

1,071

1,048

1,382

1,022

841

968

961

746

850

743

$1.41M

$1.36M

$1.34M

$1.33M

$1.31M

$1.29M

$1.28M

$1.22M

$1.15M

$1.10M

$1.06M

$1.05M

Sep-20

Aug-21

Sep-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

400

91%

300

75%

69%

61%

200

50%

30%

24%

100

<$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-LRATIO SALES INVENTORY

69 21 30%

20 10 50%

73 55 75%

165 150 91%

291 200 69%

368 223 61%

201 49 24%

168 13 8%

386 25 6%

●

fraservaleyboardarea TOWNHOME-SEPTEMBER 2021

SALESTO LISTINGSRATIO 87% SELLERS'MARKET

▶ MARKETSUMMARY Therewere514townhomelistingsintheFraserValey boardareainSeptember,7%belowAugustand61% lowerthanSeptember2020. Septembertownhomesalesdecreasedby13% month-over-month,to448,andwere20%below September2020. Thesales-to-listingratiofortownhomesintheFraser Valeyboardarea,at87%,reflectedaselers'market. ThetownhomemedianpriceinSeptemberwas $765,000,a4%increasefromAugustand29%above September2020. Theaveragesoldpricewas$776,909,5%abovelast month;theaveragePSFsalepricewas$491,up2%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 28% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 28% VS2020

▼ 61% VS2020

▼ 20% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No. 93% 513 552

%Change

TOTALLISTINGS TOTALSALES

87% 448 514

43% 558 1,311

105% -20% -61%

2% 5% 4% -6% -13% -7%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$491 $776,909 $765,000

$481 $739,303 $735,000

$382 $606,921 $593,450

28% 28% 29%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● SEP 2020 ● SEP 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

1,31

1,179

1,002

872 846

786

787

775

710

687

612

759

552

706

659 506

558

641

514 448

567

533

531

513

479

462

$765K

$735K

$728K

$729K

$720K

$725K

$705K

$660K

$640K

$608K

$615K

$604K

$593K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

107

100%+

200

94%

4+bdrms

127

88%

150

253 255

60%

3bdrms

100

40%

25%

24%

2bdrms

130

4 3

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

<2bdrms

S-LRATIO SALES INVENTORY

21 5 24%

78 47 60%

209 220 105%

156 137 88%

36 34 94%

10 4 40%

4 1 25%

Copyright©October12,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofOctober12,2021.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 12 ●

fraservaleyboardarea CONDO-SEPTEMBER 2021

SALESTO LISTINGSRATIO 62% SELLERS'MARKET

▶ MARKETSUMMARY Therewere905condolistingsintheFraserValeyboard areainSeptember,3%belowAugustand52%lowerthan September2020. Septembercondosalesdecreasedby6% month-over-month,to562,andwere17%above September2020. Thesales-to-listingratioforcondosintheFraserValey boardarea,at62%,reflectedaselers'market. ThecondomedianpriceinSeptemberwas$473,250,a 1.8%increasefromAugustand21%aboveSeptember 2020. Theaveragesoldpricewas$494,268,1.0%abovelast month;theaveragePSFsalepricewas$576,up3%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 20% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 16% VS2020

▲ 21% VS2020

▼ 52% VS2020

▲ 17% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No. 64% 598 937

%Change

TOTALLISTINGS TOTALSALES

62% 562 905

26% 480 1,868

20% 16% 21% 142% 17% -52%

-3% -6% -3%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$576 $494,268 $473,250

$562 $489,516 $465,000

3% 1% 1.8%

$479 $426,705 $391,000

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● SEP 2020 ● SEP 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

1,868

1,749

1,599

1,344

1,307

1,271

1,163

1,287

1,256

1,192 1,190

937

806

905

778

666

598

494

459

690

562

614

480

555

426

369

$473K

$465K

$450K

$446K

$438K

$430K

$415K

$405K

$393K

$398K

$391K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

500

4+bdrms

400

70% 72%

300

3bdrms

44%

200

39%

33%

357

22%

2bdrms

100

535

169

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

<2bdrms

S-LRATIO SALES INVENTORY

201 140 70%

465 336 72%

166 64 39%

32 14 44%

18 6 33%

9 2 22%

9 0 n/a

5 0 n/a

277

Copyright©October12,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofOctober12,2021.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 13 ●

burnabynorth DETACHED-SEPTEMBER 2021

SALESTO LISTINGSRATIO 31% SELLERS'MARKET

▶ MARKETSUMMARY Therewere100detachedlistingsinBurnabyNorthin September,5%belowAugustand24%lowerthan September2020. Septemberdetachedhomesalesincreasedby15% month-over-month,to31,andwere37%below September2020. Thesales-to-listingratiofordetachedinBurnabyNorth, at31%,reflectedaselers'market. ThedetachedmedianpriceinSeptemberwas $1,718,000,a1.1%increasefromAugustand10%above September2020. Theaveragesoldpricewas$1,813,558,1.6%belowlast monthandup1.5%toSeptember2020.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 1.5% VS2020

▲ 10% VS2020

▼ 24% VS2020

▼ 37% VS2020

THISMONTH No. $1,813,558 $1,718,000 31% 31 100

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

$1,786,053 $1,555,000 37% 49 132

1.5% 10% -16% -37% -24%

$1,842,621 $1,700,000 26% 27 105

21% 15% -5%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

-1.6% 1.1%

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIANPRICE

154

161

157

136

125

132

2.27

2.14

121

100

105

1.87

67 67

1.38

45 44

1.19

1.15

$1.92M

$1.80M $1.80M

$1.81M

$1.80M

$1.78M

$1.72M

$1.70M

$1.60M

$1.56M

$1.55M

$1.50M

Sep-20

Aug-21

Sep-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

100%+

33%

20%

<$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-LRATIO SALES INVENTORY

6 7 117%

46 15 33%

18 6 33%

15 3 20%

15 0 n/a

●

burnabynorth TOWNHOME-SEPTEMBER 2021

SALESTO LISTINGSRATIO 65% SELLERS'MARKET

▶ MARKETSUMMARY Therewere37townhomelistingsinBurnabyNorthin September,3%belowAugustand46%lowerthan September2020. Septembertownhomesalesdecreasedby27% month-over-month,to24,andwere4%belowSeptember 2020. Thesales-to-listingratiofortownhomesinBurnaby North,at65%,reflectedaselers'market. ThetownhomemedianpriceinSeptemberwas $918,500,a22%increasefromAugustand27%above September2020. Theaveragesoldpricewas$901,429,12%abovelast month;theaveragePSFsalepricewas$648,up5%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 36% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 25% VS2020

▲ 27% VS2020

▼ 46% VS2020

▼ 4% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

24 37

25 69

36% 25% 27% 79% -4% -46%

33 38

5% 12% 22% -25% -27% -3%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$648 $901,429 $918,500 65%

$478 $718,324 $725,000 36%

$615 $801,712 $750,000 87%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● SEP 2020 ● SEP 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

52 51

$919K

$896K

$847K

$818K

$800K

$775K

$768K

$761K

$749K

$750K

$725K

$718K

BURNABYNORTH REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

100%

100%+

4+bdrms

3bdrms

50% 50%

50%

2bdrms

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

<2bdrms

S-LRATIO SALES INVENTORY

2 1 50%

18 9 50%

7 7 100%

3 6 200%

5 0 n/a

2 1 50%

Copyright©October12,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofOctober12,2021.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 15 ●

burnabynorth CONDO-SEPTEMBER 2021

SALESTO LISTINGSRATIO 43% SELLERS'MARKET

▶ MARKETSUMMARY Therewere297condolistingsinBurnabyNorthin September,1.7%belowAugustand28%lowerthan September2020. Septembercondosalesincreasedby9% month-over-month,to127,andwere15%above September2020. Thesales-to-listingratioforcondosinBurnabyNorth,at 43%,reflectedaselers'market. ThecondomedianpriceinSeptemberwas$665,000,a 1.5%increasefromAugustand9%aboveSeptember 2020. Theaveragesoldpricewas$681,293,3%abovelast month;theaveragePSFsalepricewas$844,up3%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 13% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 7% VS2020

▲ 9% VS2020

▼ 28% VS2020

▲ 15% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 27% 110 414

%Change

No. 39% 117 302

%Change

TOTALLISTINGS TOTALSALES

43% 127 297

13% 7% 9% 61% 15% -28%

3% 3% 1.5% 10% 9% -1.7%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$844 $681,293 $665,000

$823 $662,269 $655,000

$745 $634,838 $608,000

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● SEP 2020 ● SEP 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

414

379

400

323

312

304

302

284

324

273

297

290

182 275

200

127

143

129

13 13

87 91

$665K

$655K

$650K

$625K

$617K

$615K

$608K

$613K

$612K

$598K

$590K

$582K

$559K

BURNABYNORTH REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

4+bdrms

58%

3bdrms

50% 47%

37%

2bdrms

209

11% 11%

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

<2bdrms

S-LRATIO SALES INVENTORY

10 5 50%

87 41 47%

86 50 58%

76 28 37%

18 2 11%

9 1 11%

9 0 n/a

2 0 n/a

Copyright©October12,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofOctober12,2021.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 16 ●

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