the rennie review - November 2022

the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 14 SUB-MARKETS IN THE VANCOUVER REGION

published November 2022

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 47 48 51

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 Delta

New Westminster North Vancouver

Richmond Squamish

Surrey

Vancouver East

Vancouver Downtown

Vancouver West West Vancouver

53 AREA MAPS

56 CURRENT PROJECTS

Copyright © 2022 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 November 7, 2022. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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

the rains may have come, but the extended sales drought isn’t yet done Sales counts in the Vancouver Region failed to reach the 3,000 threshold for the fourth consecutive month in October. And with the typically slower months of November and December still ahead of us, the current slowdown may become more pronounced than anything we’ve seen in the past decade.

Given the four months—and counting—of suppressed sales counts, one might expect that inventory would be on the rise and that market conditions would favour buyers. In such a case, one would be wrong: once again in October, total listings were restrained, as they actually fell to 14,661. This may be 36% higher than the record-low October inventory of 2021, but it remains 18% below the long- run average for the month. This lack of supply in the face of almost-absent demand has yielded relatively balanced conditions in the market, with the overall months-of-inventory ratio declining to 5.3 in October (less than five months is considered a sellers’ market; 5-8 months a balanced market; and and 8+ months a buyers’ market). Having noted that November’s MLS sales activity has been sluggish to start the month, combined with what we know to be a slowdown of buying and selling in the winter and what will be another Bank of Canada interest rate increase on December 7th, we feel certain that our current market dynamics will prevail into early 2023, at the very least.

If it seems like we’ve been highlighting muted MLS sales counts throughout the Vancouver Region for a few months now, well, it’s because we have. The economic dynamics governing our market conditions in the second half of 2022 remain present to this day: persistently high inflation and rising interest rates continue to sideline demand while our robust labour market has served to keep supply in check. As a result, market activity was relatively stagnant in October, setting up our market for a slowdown like we haven’t seen in a decade. The typical pattern of change in MLS sales counts in the Vancouver Region between September and October is one of increase. Indeed, total sales were 9% higher last month than in the previous— aligning perfectly with the bump in sales we normally see at this time of year. However, the actual number of sales we

saw in October fell far short of the norm: the 2,778 transactions were 36% below the past 10-year October average and 48% below those of October 2021. Furthermore, the overall regional MLS sales count failed to surpass the 3,000-mark for the fourth consecutive month—something that hasn’t happened since early 2019. Based on the early returns for November, we’re on pace to finish well below 3,000 sales again this month, with a similar outcome likely in December, too. Notably, then, if our market does in fact fail to deliver 3,000 sales in either of the final two months of 2022, we will begin 2023 having registered six consecutive months of sub- 3,000 sales, the most protracted period of slow sales in a decade (our market failed to reach 3,000-sales mark over a seven- month period at the end of 2012 and into early 2013).

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Calvin Kan PREC* 604.616.8373

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District Northwest $701,900 | SURREY 1701 - 13438 105a Avenue 2 Bed, 615 SF

2 Bed, 1,309 SF Dal Milin PREC* 778.881.9021

Matthew Lee 778.882.2673

Copyright © 2022 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 November 7, 2022. 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 -OCTOBER 202

SALES TO LISTINGSRATIO 14% BALANCEDMARKET

▶ MARKETSUMMARY Therewere6,451 detached listingsin theVancouver Region in O ctober,5% below Septem berand 37% higher than October2021. O ctoberdetached hom esalesincreased by 6% m onth-over-m onth,to 908,and were52% below O ctober 2021. Thesales-to-listing ratio fordetached in the Vancouver Region,at14% ,reflected abalanced m arket. Thedetachedm edian pricein Octoberwas$1,539,000,a 0.9% increasefrom Septem berand 4% below O ctober 2021. Theaveragesold pricewas$1,844,255,0.3% below last m onth and down 1% toOctober2021.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 1.0% VS 2021

▼ 4% VS 2021

▲ 37% VS 2021

▼ 52% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

14% 908 6,451

1,879 4,694

-65% -52% 37%

13% 859 6,803

-0.3% 0.9% 11% 6% -5%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$1,863,494 $1,600,000 40%

$1,849,951 $1,525,000

$1,844,255 $1,539,000

-1% -4%

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

7,585

7,193

6,803

7,369

6,952

6,451

1.89

5,481

6,295

1.79

1.77

4,587

4,694

4,181

1.43

1.40

1.39

3,318

2,313

3,120 1,489

1,794

1,879

1,086

888

1,749

1,568

908

1,282

1,147

875

859

$1.83M $1.80M $1.73M $1.85M $1.89M

$1.65M $1.60M $1.53M $1.53M $1.54M

$1.60M $1.69M $1.69M

Oct-21

Sep-22

Oct-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

1500

1000

33%

500

25%

23%

19%

16%

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+ 1,742 96 6%

S-L RATIO SALES INVENTORY

143 23 16%

90 17 19%

241 61 25%

420 140 33%

797 183 23%

1,472 229 16%

817 103 13%

729 56 8%

Copyright© Novem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber7,202 .Aldatafrom RealEstate BoardofGreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycan otbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.The recipientoftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.

●

vancouverregion TOWNHOME-OCTOBER 202

SALES TO LISTINGSRATIO 24% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere2,109 townhom elistingsin theVancouver Region in O ctober,3% below Septem berand 96% higher than October2021. O ctobertownhom esalesincreased by11% m onth-over-m onth,to 514,and were49% below O ctober 2021. Thesales-to-listing ratio fortow nhom esin theVancouver Region,at24% ,reflected aselers'm arket. Thetownhom em edian pricein Octoberwas$870,000,a 2% increasefrom Septem berand 3% aboveO ctober 2021. Theaveragesold pricewas$951,955,5% abovelast m onth;theaveragePSF salepricewas$632,up 4% to lastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 3% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 5% VS 2021

▲ 3% VS 2021

▲ 96% VS 2021

▼ 49% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

24% 514 2,109

1,001 1,076

-74% -49% 96%

21% 461 2,181

15% 11% -3%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$612 $909,877 $847,000 93%

$632 $951,955 $870,000

$610 $906,802 $850,000

4% 5% 2%

3% 5% 3%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● OCT 2021 ● OCT 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

2,181

2,443

2,433

2,372

2,109

2,206

2,002

1,677

1,251

1,227

973

1,076

782

770

766

1,001

941

895

565

801

514

587

574

474

461

$990K $1.02M $1.00M $983K

$925K $915K $894K

$850K $850K $870K

$847K $880K $900K

VANCOUVERREGION REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

700

600

4+ bdrms

452

500

265

400

3 bdrms

1,155

300

33% 34%

200

145

23%

23% 24%

21%

2 bdrms

458

14%

100

<$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

40 9 23%

118 39 33%

436 147 34%

666 151 23%

366 89 24%

233 49 21%

170 24 14%

80 6

Copyright© Novem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber7,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 6 ●

vancouverregion CONDO -OCTOBER 202

SALES TO LISTINGSRATIO 23% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere5,500 condolistingsin theVancouverRegion in O ctober,0.5% aboveSeptem berand 19% higherthan October2021. O ctobercondosalesincreased by9% m onth-over-m onth, to1,277,and were46% below October2021.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 5% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 4% VS 2021

▲ 19% VS 2021

▼ 46% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

Thesales-to-listing ratio forcondosin the Vancouver Region,at23% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

1,277 5,500

2,363 4,617

-55% -46% 19%

1,174 5,473

-0.5% 3% 2% 8% 9% 0.5%

Thecondom edian pricein Octoberwas$635,000,a2% increasefrom Septem berand 4% aboveO ctober2021. Theaveragesold pricewas$714,021,3% abovelast m onth;theaveragePSF salepricewas$832,down 0.5% tolastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$832 $714,021 $635,000 23%

$789 $688,875 $608,000 51%

$836 $695,092 $620,950 21%

5% 4% 4%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● OCT 2021 ● OCT 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

5,368

5,500

5,647

5,561

5,473

5,205

4,617

4,077

4,072

4,682

3,620

3,16

2,441

2,966

2,769

2,055

2,363

2,382

2,244

2,007

1,310

1,730

1,733

1,277

1,418

1,174

$680K $667K $650K $640K $645K

$672K $695K $685K

$621K $635K

$608K $620K $628K

VANCOUVERREGION REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

1600

43 2

1400

4+ bdrms

1200

1000

3 bdrms

800

606

600

34%

28%

692

400

21%

2 bdrms

3,143

14% 11%

200

513

<$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

314 89 28%

1,346 461 34%

1,507 418 28%

869 181 21%

412 56 14%

328 36 11%

308 22 7%

416 14 3%

1,708

Copyright© Novem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber7,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 7 ●

greatervancouverboard area DETACHED -OCTOBER 202

SALES TO LISTINGSRATIO 15% BALANCEDMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 0.1% VS 2021

▼ 2.0% VS 2021

▲ 23% VS 2021

▼ 47% VS 2021

Therew ere 3,923 detached listingsin the G reater Vancouverboard areain O ctober,5% below Septem ber and 23% higherthan October2021. O ctoberdetached hom esalesincreased by 9% m onth-over-m onth,to 581,and were47% below O ctober 2021. Thesales-to-listing ratio fordetached in the G reater Vancouverboard area,at15% ,reflected abalanced market. Thedetachedm edian pricein Octoberwas$1,720,000,a 2% increasefrom Septem berand 2.0% below O ctober 2021. Theaveragesold pricewas$2,070,518,1.9% below last m onth and up 0.1% toOctober2021.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

15% 581 3,923

1,092 3,180

0.1% -2% -57% -47% 23%

13% 533 4,119

-1.9% 2% 14% 9% -5%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$2,069,047 $1,755,000 34%

$2,110,852 $1,680,000

$2,070,518 $1,720,000

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

4,463

4,236

4,19

4,338

3,923

4,154

1.86

3,254

3,714

1.78

3,180

2,875

1.68

2,799

1.54

1.47

1.45

2,264

2,21

1,297

985

1,005

1,092

956

581

792

794

656

621

530 524 533

$2.01M $2.00M $2.00M $1.90M

$1.85M $1.98M

$1.80M $1.74M $1.70M $1.68M $1.72M

$1.76M $1.85M

Oct-21

Sep-22

Oct-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

1400

1200

1000

800

600

36%

28%

400

26%

21%

20%

17%

16%

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+ 1,356 85 6%

S-L RATIO SALES INVENTORY

47 12 26%

47 8 17%

107 23 21%

169 61 36%

353 100 28%

822 162 20%

521 84 16%

501 46 9%

●

greatervancouverboard area TOWNHOME-OCTOBER 202

SALES TO LISTINGSRATIO 24% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,108 townhom elistingsin theG reater Vancouverboard areain O ctober,4% aboveSeptem ber and 66% higherthan October2021. O ctobertownhom esalesincreased by20% m onth-over-m onth,to 269,and were45% below O ctober 2021. Thesales-to-listing ratio fortow nhom esin theG reater Vancouverboard area,at24% ,reflected aselers'm arket. Thetownhom em edian pricein Octoberwas$1,020,800, a9% increasefrom Septem berand 8% aboveO ctober 2021. Theaveragesold pricewas$1,110,150,9% abovelast m onth;theaveragePSF salepricewas$741,up 2.0% to lastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 1.8% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 8% VS 2021

▲ 66% VS 2021

▼ 45% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 74% 493 667

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

24% 269 1,108

1.8% 8% 8% -67% -45% 66%

21% 225 1,065

15% 20% 4%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$741 $1,110,150 $1,020,800

$726 $1,020,551 $936,000

2% 9% 9%

$728 $1,030,044 $945,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● OCT 2021 ● OCT 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,139

1,108

1,126

1,106

1,051 1,065

920

753

597

599

667

629

493

409

387

501

503

467

446

441

282

365

269

284

240

225

$1.10M $1.10M $1.15M $1.10M

$1.03M $1.01M

$1.02M

$990K $942K $936K

$945K $995K $969K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

250

4+ bdrms

192

200

152

150

3 bdrms

620

100

32% 29%

27% 26%

23%

2 bdrms

14%

263

<$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

19 1 5%

40 9 23%

135 43 32%

260 76 29%

233 64 27%

180 47 26%

161 23 14%

80 6

Copyright© Novem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber7,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 9 ●

greatervancouverboard area CONDO -OCTOBER 202

SALES TO LISTINGSRATIO 24% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 6% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 3% VS 2021

▲ 9% VS 2021

▼ 45% VS 2021

Therewere4,199 condolistingsin theG reater Vancouverboard areain O ctober,0.7% aboveSeptem ber and 9% higherthan October2021. O ctobercondosalesincreased by12% m onth-over-m onth,to1,000,and were45% below October2021. Thesales-to-listing ratio forcondosin the G reater Vancouverboard area,at24% ,reflected aselers'm arket. Thecondom edian pricein Octoberwas$677,500,a1.1% increasefrom Septem berand 3% aboveO ctober2021. Theaveragesold pricewas$767,207,3% abovelast m onth;theaveragePSF salepricewas$898,down 0.4% tolastm onth.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

1,000 4,199

1,808 3,838

-49% -45% 9%

21% 894 4,170

-0.4% 3% 1.1% 11% 12% 0.7%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$898 $767,207 $677,500 24%

$850 $746,758 $655,000 47%

$902 $748,259 $670,000

6% 3% 3%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● OCT 2021 ● OCT 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

4,137

4,199

4,333

4,271

4,170

3,838

3,971

3,412

3,685

3,228

2,856

2,313

2,546

2,396

1,863

1,827

1,604

1,808

1,692

1,004

1,464

1,314

1,326

1,000

1,062

894

$725K $735K $740K $735K

$717K $698K $694K $690K $670K $678K

$655K $668K $680K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

1200

40 2

4+ bdrms

1000

800

3 bdrms

600

530

44%

34%

400

32%

519

21%

2 bdrms

2,340

14%

200

11%

421

<$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

124 42 34%

676 295 44%

1,162 369 32%

814 170 21%

391 55 14%

320 34 11%

303 21 7%

409 14 3%

1,289

Copyright© Novem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber7,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 10 ●

fraservaley board area DETACHED -OCTOBER 202

SALES TO LISTINGSRATIO 13% BALANCEDMARKET

▶ MARKETSUMMARY Therew ere 2,528 detached listingsin the FraserValey board areain O ctober,6% below Septem berand 67% higherthan October2021. O ctoberdetached hom esalesincreased by 0.3% m onth-over-m onth,to 326,and were58% below O ctober 2021. Thesales-to-listing ratio fordetached in the FraserValey board area,at13% ,reflected abalanced m arket. Thedetachedm edian pricein Octoberwas$1,314,000,a 0.5% decreasefrom Septem berand 10% below O ctober 2021. Theaveragesold pricewas$1,442,525,1.1% abovelast m onth and down 9% toOctober2021.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 9% VS 2021

▼ 10% VS 2021

▲ 67% VS 2021

▼ 58% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

13% 326 2,528

51% 777 1,514

-9% -10% -75% -58% 67%

12% 325 2,684

1.1% -0.5% 6% 0.3% -6%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$1,427,082 $1,320,000

$1,442,525 $1,314,000

$1,580,305 $1,452,100

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

3,122

2,957

2,684

3,031

2,798

1.85

2,528

2,227

2,581

1.71

1.69

1.63

1,788

1.56

1.52

1,514 1,306

1,013

909

806

1,054

777

426

739

362

694

607

522

326

484

344

325

$1.75M $1.78M $1.70M

$1.61M $1.53M $1.48M

$1.45M $1.56M $1.58M

$1.42M $1.34M $1.32M $1.31M

Oct-21

Sep-22

Oct-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

700

600

500

400

300

31%

200

28%

21%

18%

11%

100

10%

<$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

96 11 11%

43 9 21%

134 38 28%

251 79 31%

444 82 18%

650 67 10%

296 19 6%

228 10 4%

386 11 3%

●

fraservaley board area TOWNHOME-OCTOBER 202

SALES TO LISTINGSRATIO 24% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,001 townhom elistingsin theFraserValey board areain O ctober,10% below Septem berand 145% higherthan October2021. O ctobertownhom esalesincreased by4% m onth-over-m onth,to 245,and were52% below O ctober 2021. Thesales-to-listing ratio fortow nhom esin theFraser Valey board area,at24% ,reflected aselers'm arket. Thetownhom em edian pricein Octoberwas$770,000,a 1.3% decreasefrom Septem berand 2.0% below O ctober 2021. Theaveragesold pricewas$778,263,3% below last m onth;theaveragePSF salepricewas$513,up 3% to lastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 3% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 1.9% VS 2021

▼ 2.0% VS 2021

▲ 145% VS 2021

▼ 52% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 508 409

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

24% 245 1,001

3% -1.9% -2% -80% -52% 145%

21% 236 1,116

3% -3% -1.3% 16% 4% -10%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$499 $793,258 $785,500 124%

$513 $778,263 $770,000

$500 $798,356 $780,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● OCT 2021 ● OCT 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,246

1,327

1,304

1,16

1,155

924

1,082

1,001

628

622

438

409 508

416

361

320

444

281

391 360

376

245

290

234

236

200

$970K $949K $913K

$870K $930K

$870K $855K $843K

$786K $824K

$790K $780K $770K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

400

4+ bdrms

260

300

113

3 bdrms

535

200

38% 38%

35%

100

2 bdrms

18% 19%

195

11%

<$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

21 8 38%

78 30 38%

301 104 35%

406 75 18%

133 25 19%

53 2 4%

9 1 11%

Copyright© Novem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber7,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 12 ●

fraservaley board area CONDO -OCTOBER 202

SALES TO LISTINGSRATIO 21% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,301 condolistingsin theFraserValey board areain O ctober,0.2% below Septem berand 67% higherthan October2021. O ctobercondo salesdecreased by 1.8% m onth-over-m onth,to 275,and were50% below O ctober 2021. Thesales-to-listing ratio forcondosin the FraserValey board area,at21% ,reflected aselers'm arket. Thecondom edian pricein Octoberwas$505,000,a1.0% increasefrom Septem berand 5% aboveO ctober2021. Theaveragesold pricewas$520,066,1.0% below last m onth;theaveragePSF salepricewas$590,down 6% to lastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 0.4% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 4% VS 2021

▲ 5% VS 2021

▲ 67% VS 2021

▼ 50% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 71% 555 779

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

21% 275 1,301

0.4% 4% 5% -70% -50% 67%

21% 280 1,303

-1.6% -1.8% -0.2%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$590 $520,066 $505,000

$624 $525,338 $499,900

-6% -1% 1%

$587 $500,312 $480,900

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● OCT 2021 ● OCT 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,231

1,301

1,314

1,303

1,290

1,234

849

997

764

779

660

801

542

555

614

407

548

517

451

415

420

373

356

275

304

280

$572K $570K $567K $548K

$540K $535K $515K

$529K $564K

$500K $505K

$481K $510K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

700

600

4+ bdrms

500

400

3 bdrms

300

200

172

25%

25% 25%

2 bdrms

20%

14%

803

100

<$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

190 47 25%

670 165 25%

345 49 14%

55 11 20%

21 0 n/a

8 2 25%

5 1 20%

7 0 n/a

419

Copyright© Novem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber7,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 13 ●

burnabynorth DETACHED -OCTOBER 202

SALES TO LISTINGSRATIO 25% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere95 detachedlistingsin BurnabyN orth in O ctober,17% below Septem berand 13% higherthan October2021. O ctoberdetached hom esalesincreased by 50% m onth-over-m onth,to 24,and were37% below O ctober 2021. Thesales-to-listing ratio fordetached in Burnaby N orth, at25% ,reflected aselers'm arket. Thedetachedm edian pricein Octoberwas$2,041,250,a 20% increasefrom Septem berand 12% aboveO ctober 2021. Theaveragesold pricewas$2,064,174,6% abovelast m onth and up 5% toOctober2021.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 5% VS 2021

▲ 12% VS 2021

▲ 13% VS 2021

▼ 37% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

24 95

38 84

5% 12% -44% -37% 13%

$1,944,647 $1,705,000 14% 16 115

6% 20% 82% 50% -17%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$2,064,174 $2,041,250 25%

$1,970,098 $1,817,868 45%

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

131

122

2.63

109

2.31

2.28

61 47

59 33

1.21

1.15

1.12

$2.30M

$2.17M $2.12M

$2.13M $2.20M $2.04M $2.08M

$2.04M

$1.93M $1.99M

$1.82M

$1.75M $1.71M

Oct-21

Sep-22

Oct-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

45%

33%

29%

18%

<$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

3 1 33%

31 9 29%

22 10 45%

17 3 18%

22 1 5%

●

burnabynorth TOWNHOME-OCTOBER 202

SALES TO LISTINGSRATIO 27% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere45 townhom elistingsin BurnabyN orth in O ctober,15% aboveSeptem berand 36% higherthan October2021. O ctobertownhom esalesrem ained thesam e m onth-over-m onth,at12,and were33% below O ctober 2021. Thesales-to-listing ratio fortow nhom esin Burnaby N orth,at27% ,reflected aselers'm arket. Thetownhom em edian pricein Octoberwas$775,000,a 4% increasefrom Septem berand 1.7% below O ctober 2021. Theaveragesold pricewas$785,729,2% below last m onth;theaveragePSF salepricewas$588,down 4% to lastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▼ 3% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 6% VS 2021

▼ 1.7% VS 2021

▲ 36% VS 2021

▼ 33% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

12 45

18 33

-3% -6% -1.7% -51% -33% 36%

12 39

-4% -2% 4% -13% 0% 15%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$588 $785,729 $775,000 27%

$606 $838,550 $788,500 55%

$614 $804,000 $747,500 31%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● OCT 2021 ● OCT 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

$969K

$950K $989K $978K

$857K $883K $905K

$860K

$789K $750K

$770K $748K $775K

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

3 bdrms

38%

25%

2 bdrms

17%

<$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 3 300%

12 3 25%

18 3 17%

8 3 38%

5 0 n/a

1 0 n/a

Copyright© Novem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber7,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 15 ●

burnabynorth CONDO -OCTOBER 202

SALES TO LISTINGSRATIO 22% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere264 condolistingsin BurnabyN orth in O ctober,3% aboveSeptem berand 15% higherthan October2021. O ctobercondosalesdecreased by29% m onth-over-m onth,to 58,and were56% below O ctober 2021. Thesales-to-listing ratio forcondosin Burnaby N orth,at 22% ,reflected aselers'm arket. Thecondom edian pricein Octoberwas$692,000,a6% increasefrom Septem berand 6% aboveO ctober2021. Theaveragesold pricewas$700,326,0.7% abovelast m onth;theaveragePSF salepricewas$878,up 7% to lastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 11% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 1.5% VS 2021

▲ 6% VS 2021

▲ 15% VS 2021

▼ 56% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 57% 132 230

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

$878 $700,326 $692,000 22% 58 264

11% 1.5% 6% -62% -56% 15%

$823 $695,309 $650,500 32% 82 257

7% 0.7% 6% -31% -29% 3%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$792 $689,902 $650,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● OCT 2021 ● OCT 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

286

287

309

300

301

264

257

230

208

200

176

167

180

124

160

132

145

104

101

$778K $750K

$729K $699K

$693K $700K

$650K $644K

$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

100%

4+ bdrms

3 bdrms

32% 32%

2 bdrms

18%

181

<$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 1 100%

38 12 32%

98 31 32%

72 13 18%

29 1 3%

9 0 n/a

12 0 n/a

5 0 n/a

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