the rennie review - June 2019

the rennie review Published June 2019

table of contents

Each month, we release the rennie review, a detailed look at the real estate marketplace in Vancouver and the Lower Mainland. This report examines the market stats by neighbourhood, current rennie projects, and more.

2 INTRO

3 WHAT YOU NEED TO KNOW

4 NEIGHBOURHOOD PROFILE

Andrew Ramlo VP Intelligence aramlo@rennie.com

Ryan Berlin Senior Economist rberlin@rennie.com

7 FEATURED LISTINGS

40 CURRENT PROJECTS

CurrentasofJune4,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The informationsetoutherein (the“Information”) is intended for informationalpurposesonly.RAR&RMShasnotverifiedthe informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

a new path? sales rise and prices stabilize .

The latest data hint that a new market narrative may be warranted, as the Vancouver region passes 4,000 sales in a month for the first time in a year. Is this the beginning of a new trend, or just a one-time blip?

month price movements hint at an altered trajectory from the latter half of 2018. Finally, with the sales-to-listings ratio at 18%, the overall market is firmly balanced. That said, both condo and townhome segments moved into seller’s market territory in May, while the detached segment moved into balance for the first time since May 2018. Few of these data points have, to this point, been reported on. Instead, the consensus narrative is that monthly sales continue to trend lower as the market continues to soften. Our read of the data points to a market trajectory in 2019 that differs demonstrably from that of 2018. While we do not know definitively where things will go through the rest of the year, we will continue analyzing the data over the coming months in an effort to better understand how and why the market is evolving.

Data is increasingly influencing our lives, from optimizing our routes into the office and back home again, to informing us of emerging trends in our economy and real estate markets. That being said, the way data is currently being disseminated and consumed through social media and headlines seemingly alludes to there being some form of consensus around the facts. Such a consensus may not, however, always paint a true picture of what is happening, and it may not always help us understand the why behind what is happening. This is what compels us to dig a little deeper than others into the data. When the latest MLS data were released last week, we saw numerous indications that the region’s housing market had a less-than- tragic month in May. It may even have begun to move along an altered trajectory to what has prevailed over the past year-and-a-half.

Here are some highlights: Sales in May were up by 30% over April. This compares to a past-decade average increase of 5% between these two months. The region broke the 4,000-sales mark for the first time since May 2018, with the sales gap--the relative decline in year-over-year sales--shrinking to only 3%. This was the smallest gap in any month since this market adjustment began in April 2018 (at that time, sales were down 26% year-over-year and peaked at a 45% gap in December 2018). Trends in pricing have also changed perceptibly. Benchmark condo prices have now increased for four consecutive months and townhome prices for three. Detached prices have remained relatively constant, moving by less than one percent over the past three months. While one month does not a trend make, these multiple-

greater vancouver board area

DETACHED - MAY 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 11 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

11 % DOWN

1.8 % DOWN

1.4 % DOWN

BALANCED 14 %

Detached listings in the REBGV increased to 6,771 in May, 1.8% above April but 1.8% below May 2018. Detached sales, at 917, increased 56% compared to April but were 1.4% lower than in May 2018. The sales-to-listings ratio increased to 14%, as the REBGV detached market transitioned to balanced market territory. The detached benchmark price in May was $1.42M, virtually unchanged month-over-month and an 11% decline year-over-year. The average sold price was $1.59M, decreasing 3% from the previous month and an 11% drop from the previous year.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

6,771

6,652

1.8% 56% 53%

6,895

-1.8% -1.4% 0.4%

TOTAL SALES

917 14%

587

930 13%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$1,421,900 $1,425,200 -0.2% $1,606,100 -11%

$1,586,775 $1,642,798

-3% $1,788,720 -11%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.61

$1.59

$1.54

$1.50

2.27

$1.45

$1.44

$1.42

2.17

2.14

7,095

1.88

7,102

6,895

1.82

6,771

6,550

6,166

5,532

930

917

649

532

521

512

344

May-18

Apr-19

May-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

SELLER'S MARKET

BALANCED

BUYER'S MARKET

. . . 0 0 0 0 0

S-L RATIO SALES INVENTORY

greater vancouver board area

TOWNHOME - MAY 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 9 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

2 % UP

53 % UP

7 % DOWN

9 % DOWN

BALANCED 20 %

The number of townhome listings in the REBGV rose to 2,024 in May, 2% above April and 53% higher year-over-year. Townhome sales in May, at 412, were up 30% vs April and were 2% above last year. The sales-to-listings ratio rose to 20% as the REBGV townhome market remained balanced. The townhome benchmark price in May was $779,400, 0.5% below April and 9% lower than in May 2018. The average sold price was $830,130, with an aver- age PSF sales price of $567 (virtually unchanged and 3% lower, respectively, from April).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

2,024

1,984

1,324

53%

TOTAL SALES

412 20%

316 16%

30% 28%

404 31%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

-33%

$779,400 $783,300 $830,130 $829,845

-0.5% $852,700 0.0% $891,741

-9% -7% -9%

$567

$582

-3%

$621

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$852,700 $846,400 $837,600 $818,500 $800,600 $783,600 $779,400

2,024

1,781

1,692

1,690

1,542

1,493

1,324

412

404

314

280

256

251

177

REBGV

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

328

249

3 bdrms

1,123

117

<3 bdrms

. . . . 0 0 0 0

573

S-L RATIO SALES INVENTORY

greater vancouver board area

CONDO - MAY 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 6 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

60 % UP

12 % DOWN

10 % DOWN

8 % DOWN

SELLER’S 21 %

The number of condo listings in the REBGV decreased to 5,889 in May, 0.3% below April but 60% above May 2018. At 1,248, condo sales were 41% above April but 12% lower than in May 2018. The sales-to-listings ratio jumped to 21%, as the REBGV condo market transitioned to seller’s market territory. The condo benchmark price in May was $664,200, 1.1% above April but 6% lower than in May 2018. The average sold price was $646,240 (1.5% below April) with an average PSF sales price of $763 (down from April by 0.9%).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

5,889 1,248

5,909

-0.3% 3,689

60% -12% -45%

TOTAL SALES

886 15%

41% 41%

1,424

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

21%

39%

$664,200 $656,900 $646,240 $656,364

1.1% $706,400 -1.5% $719,124 -0.9% $826

-6%

-10%

$763

$770

-8%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$706,400 $705,400 $687,300 $667,800 $658,600 $667,500 $664,200

5,889

5,315

4,991

4,889

4,397

4,357

3,689

1,424

1,248

1,081

872

815

814

559

REBGV

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

572

664

2 bdrms

3,459

513

<2 bdrms

. . . . 0 0 0 0

1,858

S-L RATIO SALES INVENTORY

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CurrentasofJune6,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The informationsetoutherein (the“Information”) is intended for informationalpurposesonly.RAR&RMShasnotverifiedthe informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

DETACHED - MAY 2019 burnaby east

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 12 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

21 % DOWN

30 % DOWN

9 % DOWN

BALANCED 16 %

The number of detached listings in Burnaby East in May, at 62, were 1.6% lower vs the previous month and a 30% decrease vs May 2018. There were 10 detached sales in May, 4 more than the previous month but 1 below May 2018. The sales-to-listings ratio increased to 16%, as Burnaby East’s detached segment transitioned to a balanced market. The benchmark price for detached homes in Burnaby East in May was $1.16M—0.9% below last month but 12% lower than last year. The average sold price in Burnaby East in May was $1.12M, down 19% vs April and 21% lower year-over-year.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

62 10

-1.6%

89 11

-30% -9% 30%

TOTAL SALES

67% 69%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

16%

10%

12%

$1,162,700 $1,173,500 -0.9% $1,314,800 -12% $1,119,500 $1,379,167 -19% $1,421,891 -21%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.32

$1.31

$1.25

1.82

$1.21

1.79

1.77

$1.17

$1.16

$1.15

1.64

1.55

May-18

Apr-19

May-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

SELLER'S MARKET

BALANCED

BUYER'S MARKET

. . . 0 0 0 0 0 QD QD QD QD QD QD

S-L RATIO SALES INVENTORY

TOWNHOME - MAY 2019 burnaby east

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 9 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

63 % UP

60 % UP

16 % DOWN

4 % DOWN

SELLER’S 26 %

The number of townhome listings in Burnaby East dipped to 31 in May, 3% below April but 63% higher than in May 2018. Townhome sales, at 8, were 5 above last month and 3 higher than last year. The sales-to-listings ratio increased to 26%, as Burnaby East’s townhome market transitioned to seller’s market territory. The benchmark price in May was $656,500, virtu- ally unchanged from the previous month and 9% lower vs May 2018. The average sold price was $662,413 (13% lower than last month) with an average PSF sales price of $551 (5% above last month).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

-3%

63% 60%

TOTAL SALES

167% 175%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

26%

-1.9%

$656,500 $656,800 $662,413 $759,933

0.0% $724,200 -13% $792,300

-9%

-16%

$551

$523

$571

-4%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$724,200 $733,400 $718,800 $684,600 $680,300 $671,400 $656,500

BURNABY EAST

REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD QD QD

S-L RATIO SALES INVENTORY

CONDO - MAY 2019 burnaby east

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 7 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

5 % UP

21 % UP

4 % DOWN

55 % DOWN

BALANCED 14 %

The number of condo listings in Burnaby East in May dipped 3% month-over-month (to 35) and jumped 21% year-over-year. At 5, condo sales were unchanged month-over- month but dropped by 6 year-over-year. The sales-to-listings ratio remained at 14% in May as Burnaby East’s condo market was balanced. The condo benchmark price in May was $748,100, 0.9% below last month and 7% lower year-over-year. The average sold price for condos increased 7% month-over-month (to $598,800) while the average PSF sales price rose 3% (to $712).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

-3%

29 11

21% -55% -62%

TOTAL SALES

0.0%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

14%

38%

$748,100 $754,900 $598,800 $561,000

-0.9% $801,500 7% $568,491

-7%

$712

$690

$742

-4%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$801,500 $787,700 $767,600 $762,400 $743,900 $722,500 $748,100

BURNABY EAST

REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

2 bdrms

<2 bdrms

. . . . 0 0 0 0 QD QD QD QD QD QD

S-L RATIO SALES INVENTORY

DETACHED - MAY 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 11 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

3 % UP

13 % DOWN

BALANCED 14 %

The number of detached listings in Burnaby North in May, at 243, was 3% higher month-over-month and year-over-year. With 33 in May, detached sales were up 9 month- over-month but 5 below last year. The sales-to-listings ratio increased to 14%, as Burnaby North’s detached market became balanced. The benchmark price in May was $1.41M, 1.1% above April 2019 but 11% lower than in May 2018. The average sold price was $1.43M, down 2% from the previous month and 13% below May 2018.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 235

% Change

No. 236

% Change

TOTAL LISTINGS

243

TOTAL SALES

38% 33%

-13% -16%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

14%

10%

16%

$1,407,600 $1,392,600 1.1% $1,575,100 -11%

$1,428,875 $1,458,500

-2% $1,644,116 -13%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.58

$1.56

$1.50

$1.47

2.42

$1.42

$1.41

2.29

2.28

2.05

248

1.96

1.93

240

243

239

236

217

189

May-18

Apr-19

May-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

. . . 0 0 0 0 0 QD QD QD QD S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET

TOWNHOME - MAY 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 5 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

6 % UP

2 % UP

93 % UP

29 % DOWN

BALANCED 19 %

The number of townhome listings in Burnaby North increased 7% from last month, settling at 79, and was 93% above May 2018. Townhome sales, at 15, were down by 6 vs last May but up by 2 from April 2019. The sales-to-listings ratio slightly increased to 19% in May, as Burnaby North’s townhome segment remained in balanced market conditions. The benchmark price in May was $730,300, 3% above April but 5% below May 2018. The average sold price was $725,733 in May, (increasing 9% vs April) while the average PSF sales price was $558 (increasing 14%).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

79 15

74 13

41 21

93% -29% -63%

TOTAL SALES

15%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

19%

18%

51%

$730,300 $709,200 $725,733 $666,385

3% $767,300 9% $683,885

-5%

6% 2%

$558

$488

14%

$545

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$767,300 $782,800 $768,600 $742,700 $723,900 $726,000 $730,300

BURNABY NORTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

4+ bdrms

SELLER'S MARKET

3 bdrms

BALANCED

BUYER'S MARKET

<3 bdrms

. . . . 0 0 0 0 QD QD QD QD

S-L RATIO SALES INVENTORY

CONDO - MAY 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 5 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

5 % DOWN

6 % DOWN

10 % DOWN

105 % UP

SELLER’S 24 %

There were 304 condo listings in Burnaby North in May, 2% below April but 105% higher than in May 2018. May condo sales increased by 76% month-over- month but were 10% below May 2018. The sales-to-listings ratio for condos in Burnaby North increased to 24%, transitioning to a seller’s market. The condo benchmark price in May was $615,100, 0.5% above April but 5% lower than in May 2018. The average sold price was $584,988, down 7% from last month; the average PSF sales price was $669, virtually unchanged from last month.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 311

% Change

No. 148

% Change

TOTAL LISTINGS

304

-2% 76% 80%

105% -10% -56%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

24%

13%

54%

$615,100 $611,800 $584,988 $625,942

0.5% $650,200 -7% $617,536 -0.1% $711

-5% -5% -6%

$669

$670

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$650,200 $661,000 $644,600 $632,200 $606,400 $602,900 $615,100

304

265

264

238

239

201

148

BURNABY NORTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

2 bdrms

204

<2 bdrms

. . . . 0 0 0 0 QD QD QD

S-L RATIO SALES INVENTORY

DETACHED - MAY 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 10 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

4 % DOWN

13 % DOWN

21 % DOWN

BUYER’S 9 %

There were 245 detached listings in the Burnaby South market area in May, 5% above last month but 13% below May 2018. Detached sales remained at 23 between April and May, and were 6 lower year-over-year. The sales-to-listings ratio dipped to 9%, as Burnaby South’s detached market remained in buyer’s market territory. The benchmark price in May was $1.51M, 1.5% below the previous month and a 10% decline vs last year. The average sold price for detached homes was $1.64M, 5% above April but 4% lower than this time last year.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 234

% Change

No. 281

% Change

TOTAL LISTINGS

245

-13% -21%

TOTAL SALES

23 9%

0.0%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

10%

-4%

10%

-9%

$1,508,100 $1,531,100 -1.5% $1,671,100 -10%

$1,643,653 $1,562,761

5% $1,709,017

-4%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.69

$1.67

$1.61

$1.59

$1.55

2.29

$1.53

2.25

$1.51

2.23

1.99

1.93

287

281

257

245

240

227

188

May-18

Apr-19

May-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

. . . 0 0 0 0 0 QD QD QD S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET

TOWNHOME - MAY 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 7 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

67 % UP

57 % UP

7 % DOWN

21 % DOWN

SELLER’S 23 %

Townhome listings in the Burnaby South market area in May (at 97) were down 3% from last month but 67% above last year. The 22 townhome sales were 10 above April and 8 higher than in May 2018. The sales-to-listings ratio jumped to 23%, as Burnaby South’s townhome segment transitioned to a seller’s market. The benchmark price in May was $781,500, 1.7% above April but 7% below May 2018. The average sold price was $715,891 (down 1.9% from April) with an average PSF sales price of $607 (down 4% from April).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 100

% Change

No.

% Change

TOTAL LISTINGS

97 22

-3% 83% 89%

58 14

67% 57% -6% -7% -21%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

23%

12%

24%

$781,500 $768,100 $715,891 $729,958

1.7% $841,000 -1.9% $902,329

$607

$630

-4%

$656

-7%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$841,000 $846,500 $822,700 $798,300 $792,800 $779,500 $781,500

BURNABY SOUTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD QD

S-L RATIO SALES INVENTORY

CONDO - MAY 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE 3 % UP

BENCHMARK PRICE 7 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

122 % UP

5 % DOWN

3 % DOWN

BALANCED 17 %

The number of condo listings in Burnaby South, at 441, increased 3% month-over-month and jumped 122% vs last year. May’s condo sales, at 77, were 33% above last month but 5% lower than last year. The sales-to-listings ratio increased to 17% in May, as Burnaby South’s condo segment remained in balanced market territory. The condo benchmark price in May was $676,400, virtually unchanged from April and a 7% decrease from May 2018. The average sold price was $642,401 (9% higher than in April) with an average PSF sales price of $774 (1.5% below April).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 428

% Change

No. 199

% Change

TOTAL LISTINGS

441

122%

TOTAL SALES

33% 29%

-5%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

17%

14%

41%

-57%

$676,400 $679,200 $642,401 $587,962

-0.4% $729,000 9% $663,279 -1.5% $754

-7% -3%

$774

$786

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$729,000 $731,700 $709,800 $689,900 $687,900 $681,400 $676,400

441

405

372

368

317

294

199

BURNABY SOUTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

2 bdrms

298

<2 bdrms

. . . . 0 0 0 0 QD QD QD

103

S-L RATIO SALES INVENTORY

coquitlam

DETACHED - MAY 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 12 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

9 % UP

11 % DOWN

4 % DOWN

BALANCED 13 %

The number of detached listings in Coquitlam increased to 560 in May, 4% above April and 9% higher year-over-year. The 71 detached sales in May represented an increase of 9% from April but a 4% decline vs May of last year. Coquitlam’s sales-to-listings ratio increased to 13% as the detached segment remained in balanced market territory. The benchmark price in May was $1.16M, 0.7% above April but a 12% decrease year-over-year. The average sold price was $1.25M in May, up 3% from April but 11% below May 2018.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 538

% Change

No. 513

% Change

TOTAL LISTINGS

560

4% 9% 5%

TOTAL SALES

-4%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

13%

12%

14%

-12%

$1,164,300 $1,156,700 0.7% $1,319,800 -12%

$1,248,762 $1,213,198

3% $1,401,829 -11%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.32

$1.31

$1.29

$1.23

2.40

$1.20

$1.16

2.26

2.25

591

584

560

1.87

518

513

501

1.75

1.73

424

May-18

Apr-19

May-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

SELLER'S MARKET

BALANCED

BUYER'S MARKET

. . . 0 0 0 0 0 QD

S-L RATIO SALES INVENTORY

coquitlam

TOWNHOME - MAY 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 5 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

108 % UP

3 % DOWN

6 % DOWN

SELLER’S 22 %

There were 148 townhome listings in Coquitlam in May 2019, up 3% from April and 108% above May 2018. The 32 townhome sales in May were up by 7 vs April but 2 below May 2018. The sales-to-listings ratio increased to 22% as Coquitlam’s townhome market transitioned to sell- er’s market territory. The townhome benchmark price in May was $671,500, 1.4% above April but 5% lower than in May 2018. The average sold price was $738,019, with an aver- age PSF sales price of $470 (up 1.9% and virtually unchanged, respectively, vs April).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 143

% Change

No.

% Change

TOTAL LISTINGS

148

71 34

108%

TOTAL SALES

28% 24%

-6%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

22%

17%

48%

-55%

$671,500 $662,500 $738,019 $724,364

1.4% $705,800 1.9% $757,668 -0.2% $485

-5% -3% -3%

$470

$471

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$705,800 $711,000 $686,200 $670,400 $672,300 $638,500 $671,500

148

130

127

122

116

COQUITLAM REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD QD

S-L RATIO SALES INVENTORY

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