the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 15 SUB-MARKETS IN THE VANCOUVER REGION
published June 2023
table of contents
02 INTRO
03 WHAT YOU NEED TO KNOW
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.
04 FEATURED LISTINGS
NEIGHBOURHOOD PROFILES
05 08 11 14 17 20 23 26 29 32 35 38 41 44 47 48 51 53
Vancouver Region
Greater Vancouver Board Area Fraser Valley Board Area
Burnaby North Burnaby South
Coquitlam
Ryan Berlin SENIOR ECONOMIST VICE PRESIDENT, INTELLIGENCE rberlin@rennie.com
Ryan Wyse SENIOR ANALYST rwyse@rennie.com
Langley
North Delta
New Westminster North Vancouver
Richmond Squamish
Surrey
Vancouver East
Vancouver Downtown
Vancouver West West Vancouver
Whistler
56 AREA MAPS
59 CURRENT PROJECTS
Copyright © 2023 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 June 5, 2023. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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
sales & new supply gain steam , revert ( almost ) to the mean Buyers and sellers both ramped up their participation in Metro Vancouver’s housing market in May, with sales and new listings reaching levels not seen in at least a year.
to go, however, for it remains 14% below last year’s level, is 26% below the past-10 year May average, and is the third-lowest May total ever (going back to 1990). To put a finer point on the inventory story, it is worth acknowledging that our region has experienced consistent and significant growth in people and housing over the past 30-plus years. With this in mind, and if we adjust current inventory for the size of the region’s population, the 4.56 listings per 1,000 residents last month was, in fact, the lowest on record. With the Bank of Canada raising its policy rate by 25 basis points (to 4.75%) on June 7th (accompanied by a surge in bond yields), and some economic turbulence in the form of a deteriorating labour market likely to be realized in the near- term, an element of uncertainty may be re-emerging for both buyers and sellers. In the months ahead, don’t be surprised if market conditions begin to favour buyers as we enter what is the typically less active summer season.
As we’ve previously noted in this space, home sales have been increasing in the Vancouver Region of late, with both March and April tallying more than 4,000 MLS sales following a historical dearth of activity over the preceding 8 months. Notably, the recent upward trend in sales not only continued into May, but accelerated, with the total number of transactions last month surpassing the 5,000-mark for the first time since March 2022. In the end, May’s sales count totalled 5,038, which was 20% higher than April’s versus a more typical April-to-May bump of 4%. And while May’s total was also 19% higher than one year ago, it was still 2% lower than the past 10-year average. This latter point is important context for the current sales pattern: despite sales counts having increased for 4 consecutive months, activity is only now just below
what we would consider typical for this time of year. In addition to more buyers participating in the housing market last month, more would-be sellers got in the game in May, too. To this point, there were 9,101 new listings posted in the Vancouver Region in May—a 39% increase over April, and the most in any month going back to May of last year. Last month’s new listings were, however, still 9% lower than in May 2022, sitting at 0.5% above the long-run May average. With sales counts rising, this increase in new listings activity was the necessary condition for inventory to be able to expand. On this front, there were 13,268 homes available for purchase at the end of May, which was an 11% increase from April (much more than the typical April-to-May rise of 6%). Inventory still has a long way
Copyright © 2023 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 June 5, 2023. 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. 3
featured listings SEARCH FOR THE HOME YOU LOVE AT RENNIE.COM
House
House
House
$2,089,000 | SURREY
$2,698,000 | SAVARY ISLAND 2924 Malaspina Promenade 5 Bed, 2,263 SF
$1,599,900 | RENFREW HEIGHTS
12357 59 Avenue 5 Bed, 2,904 SF Matthew Allen 604.997.6782
3467 E. 26th Avenue 4 Bed, 1,750 SF
Jason Soprovich 604.817.8812
Candace Cheung PREC* 604.649.4328
House
Condo
Condo
$1,550,000 | BURNABY NORTH
$1,498,000 | NORTH VAN 1605 - 158 W. 13th Street 2 Bed, 1,306 SF
$1,298,000 | BURNABY NORTH
55 N. Fell Avenue 3 Bed, 1,791 SF
304 - 4721 Hastings Street 2 Bed, 1,269 SF
Lorenzo Daminato PREC* 604.657.8121
Natalie Genest PREC* 604.928.7330
Disa Lim 604.880.8604
Shaughnessy Mansions
One Pacific
Bel Air
Century City Holland Park $835,900 | SURREY 2703 - 13573 98a Avenue 2 Bed, 816 SF $1,195,000 | FAIRVIEW 212 - 1477 W. 15th Avenue 2 Bed, 1,072 SF Christopher Boyd PREC* 604.351.0533
$1,199,000 | DOWNTOWN
$1,198,000 | KITSILANO
822 - 68 Smithe Street 2 Bed, 866 SF Athina Kunschner 604.388.4855
104 - 2828 Yew Street 2 Bed, 951 SF Eric Zamora PREC* 778.389.4556
Shannon Estates $849,000 | SQUAMISH
Fairview
$999,000 | FAIRVIEW 201 - 874 W. 6th Avenue 2 Bed, 1,025 SF
128 - 39920 Government Road 3 Bed, 1,126 SF
Dal Milin PREC* 778.881.9021
Calvin Kan PREC* 604.616.8373
Nitin Sharma 604.802.1923
Oma
Condo
Ruxton Village
$769,000 | BURNABY NORTH 604 - 2355 Madison Avenue 2 Bed, 890 SF
$769,000 | YALETOWN 1405 - 909 Mainland Street 1 Bed, 548 SF
$758,500 | MAPLE RIDGE
6 - 22810 113 Avenue 3 Bed, 1,334 SF
Andy Mah PREC* 604.779.9382
Mike Ross 778.987.8874
Simon Lai PREC* 778.881.3603
King George Hub One $729,900 | SURREY 2810 - 13615 Fraser Highway 2 Bed, 816 SF Phil Chang PREC* 604.754.6678
The Lions
Local On Lonsdale $659,000 | NORTH VAN 418 - 135 E. 17th Street 1 Bed, 613 SF Meg Ryan 778.838.3697
$699,900 | WEST END 106 - 1331 Alberni Street 1 Bed, 634 SF
Danny Chow PREC* 604.765.2469
Copyright © 2023 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 June 5, 2023. 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.
4
vancouverregion DETACHED -MAY 2023
SALES TO LISTINGSRATIO 28% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere6,112 detached listingsin theVancouver Region in M ay,17% aboveApriland 15% lowerthan M ay 2022. M ay detached hom esalesincreased by 22% m onth-over-m onth,to1,699,and were33% aboveM ay 2022. Thesales-to-listing ratio fordetached in the Vancouver Region,at28% ,reflected aselers'm arket.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 2% VS 2022
▼ 0.9% VS 2022
▼ 15% VS 2022
▲ 33% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
1,699 6,112
1,281 7,232
-2% -0.9% 57% 33% -15%
1,398 5,226
22% 17%
Thedetachedm edian pricein M aywas$1,710,000,a4% increasefrom Apriland 0.9% below M ay2022.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$1,969,988 $1,710,000 28%
$1,926,198 $1,647,450 27%
2% 4% 4%
$2,019,529 $1,725,000 18%
Theaveragesold pricewas$1,969,988,2% abovelast m onthand down 2% toM ay2022.
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
7,630
6,847
7,232
7,416
6,495
6,997
5,942
6,12
1.86
1.86
1.84
4,816
5,226
5,016
4,786
4,553
1.42
1.40
1.39
1,325
1,699
887
905
1,281
803
631
514
1,398
1,083
872
857
836
$1.73M $1.65M
$1.65M $1.71M
$1.60M $1.53M $1.52M $1.54M $1.50M $1.50M
$1.45M $1.55M $1.56M
22-May
23-Apr
23-May
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
1500
1000
44%
43%
40%
40%
37%
31%
30%
500
19%
11%
0
<$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+ 1,696 193 11%
S-L RATIO SALES INVENTORY
127 40 31%
58 23 40%
185 79 43%
335 148 44%
717 290 40%
1,453 539 37%
880 262 30%
661 125 19%
Copyright© June5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune5,2023.Aldatafrom RealEstateBoardof GreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipient oftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained from aren ieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
5
vancouverregion TOWNHOME-MAY 2023
SALES TO LISTINGSRATIO 53% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere1,790 townhom elistingsin theVancouver Region in M ay,13% aboveApriland 26% lowerthan M ay 2022. M aytownhom esalesincreased by21% m onth-over-m onth,to945,and were16% aboveM ay 2022. Thesales-to-listing ratio fortow nhom esin theVancouver Region,at53% ,reflected aselers'm arket. Thetownhom em edian pricein M aywas$923,000,a3% increasefrom Apriland 0.4% below M ay2022. Theaveragesold pricewas$1,007,594,2% abovelast m onth;theaveragePSF salepricewas$671,up 3% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 5% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 2% VS 2022
▼ 0.4% VS 2022
▼ 26% VS 2022
▲ 16% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
53% 945 1,790
34% 813 2,425
-5% -2% -0.4% 57% 16% -26%
49% 784 1,588
21% 13%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
3% 2% 3% 7%
$671 $1,007,594 $923,000
$648 $985,920 $899,000
$703 $1,029,230 $927,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAY 202 ● MAY 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
2,425
2,234
2,498
2,485
2,162
1,998
2,252
1,790
1,570
1,588
1,567
1,528
1,506
945
782
758
813
573
548
516
784
479
467
415
340
289
$927K $920K
$895K $852K $850K $870K $860K $840K
$865K $899K $923K
$810K $860K
VancouverRegion REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
177
500
4+ bdrms
413
400
66%
519
60%
3 bdrms
56%
300
51%
919
44%
200
236
26%
20%
2 bdrms
16%
425
100
0
13
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
33
S-L RATIO SALES INVENTORY
32 5 16%
70 36 51%
343 207 60%
543 360 66%
309 174 56%
219 97 44%
186 48 26%
88 18 20%
Copyright© June5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune5,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 6 ●
vancouverregion CONDO -MAY 2023
SALES TO LISTINGSRATIO 46% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 0.8% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 0.4% VS 2022
▲ 1.2% VS 2022
▼ 9% VS 2022
▲ 10% VS 2022
Therewere4,923 condolistingsin theVancouverRegion in M ay,3% aboveApriland 9% lowerthan M ay2022.
M aycondosalesincreased by18% m onth-over-m onth,to 2,252,and were10% aboveM ay2022.
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
Thesales-to-listing ratio forcondosin the Vancouver Region,at46% ,reflected aselers'm arket.
TOTALLISTINGS TOTALSALES
2,252 4,923
2,055 5,394
0.8% 0.4% 1.2% 20% 10% -9%
1,902 4,769
15% 18% 3%
Thecondom edian pricein M aywas$675,000,a4% increasefrom Apriland 1.2% aboveM ay2022. Theaveragesold pricewas$762,260,3% abovelast m onth;theaveragePSF salepricewas$896,up 4% to lastm onth.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$896 $762,260 $675,000 46%
$888 $758,955 $667,000 38%
$859 $737,164 $651,500 40%
4% 3% 4%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAY 202 ● MAY 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
5,592
5,275
5,394
5,676
5,526
5,499
4,753
4,603
4,923
5,232
4,769
4,365
4,138
2,252
1,809
2,055
1,310
1,274
1,902
1,121
1,732
1,418
1,217
1,171
924
771
$667K $650K $640K $645K
$630K $630K $640K $652K $675K
$620K $635K $625K $625K
VancouverRegion REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
1400
32 3
1200
4+ bdrms
1000
159
800
60%
3 bdrms
56%
538
50%
46%
600
35%
400
1,238
22%
2 bdrms
16%
2,713
11%
200
0
852
<$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
224 104 46%
1,164 698 60%
1,319 737 56%
814 404 50%
440 154 35%
293 64 22%
311 50 16%
358 41 11%
1,640
Copyright© June5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune5,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 7 ●
greatervancouverboard area DETACHED -MAY 2023
SALES TO LISTINGSRATIO 29% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 3% VS 2022
- VS 2022
▼ 16% VS 2022
▲ 31% VS 2022
Therew ere 3,579 detached listingsin the G reater Vancouverboard areain M ay,11% aboveApriland 16% lowerthan M ay2022. M ay detached hom esalesincreased by 29% m onth-over-m onth,to1,039,and were31% aboveM ay 2022. Thesales-to-listing ratio fordetached in the G reater Vancouverboard area,at29% ,reflected aselers'm arket.
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
1,039 3,579
19% 796 4,268
56% 31% -16%
25% 807 3,228
-2% 1.3% 16% 29% 11%
Thedetachedm edian pricein M aywas$1,900,000,a 1.3% increasefrom Apriland nochangetoM ay2022.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$2,168,446 $1,900,000 29%
Theaveragesold pricewas$2,168,446,2.0% below last m onthand down 3% toM ay2022.
$2,211,689 $1,875,000
$2,243,942 $1,900,000
-3% 0%
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
4,499
4,148
4,268
3,954
4,375
4,187
3,598
1.84
3,579
1.82
1.79
2,968
3,228
3,077
2,928
2,801
1.47
1.45
1.45
1,039
734
578
796
490
373
301
807
657
530 524
532
513
$1.90M
$1.80M $1.74M $1.70M
$1.81M $1.88M $1.90M $1.71M
$1.69M $1.70M $1.58M
$1.68M $1.72M
22-May
23-Apr
23-May
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
1400
1200
1000
800
50%
600
46%
45%
43%
38%
36%
30%
400
22%
12%
200
0
<$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+ 1,302 161 12%
S-L RATIO SALES INVENTORY
53 16 30%
33 12 36%
88 40 45%
133 61 46%
252 127 50%
752 326 43%
523 199 38%
443 97 22%
Copyright© June5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune5,2023.Aldatafrom RealEstateBoardof GreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipient oftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained from aren ieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
8
greatervancouverboard area TOWNHOME-MAY 2023
SALES TO LISTINGSRATIO 50% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere991 townhom elistingsin theG reater Vancouverboard areain M ay,9% aboveApriland 16% lowerthan M ay2022. M aytownhom esalesincreased by26% m onth-over-m onth,to500,and were10% aboveM ay 2022. Thesales-to-listing ratio fortow nhom esin theG reater Vancouverboard area,at50% ,reflected aselers'm arket. Thetownhom em edian pricein M aywas$1,050,000,a 0.2% increasefrom Apriland 1.4% aboveM ay2022. Theaveragesold pricewas$1,145,279,1.3% abovelast m onth;theaveragePSF salepricewas$790,up 4% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 3% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 0.0% VS 2022
▲ 1.4% VS 2022
▼ 16% VS 2022
▲ 10% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No. 44% 396 909
% Change
TOTALLISTINGS TOTALSALES
50% 500 991
38% 453 1,177
-3% 0% 1.4% 31% 10% -16%
4% 1.3% 0.2% 16% 26% 9%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$790 $1,145,279 $1,050,000
$760 $1,130,760 $1,047,750
$815 $1,145,180 $1,035,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAY 202 ● MAY 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,191
1,161
1,177
1,053
1,155
1,17
1,096
991
909
909
844
816 822
500
421
453
368
306
290
271
396
186
245
232
226
120
$1.03M $1.04M
$1.04M $1000K $1.05M $1.05M
$1.02M
$995K $945K $950K
$949K $987K $979K
REBGV
FVREB
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
200
75
4+ bdrms
190
76%
150
69%
284
58%
3 bdrms
55%
505
48%
100
27%
129
20%
2 bdrms
50
268
0
12
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
28
S-L RATIO SALES INVENTORY
13 0 n/a
26 15 58%
106 73 69%
190 144 76%
210 115 55%
183 87 48%
175 48 27%
88 18 20%
Copyright© June5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune5,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 9 ●
greatervancouverboard area CONDO -MAY 2023
SALES TO LISTINGSRATIO 46% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 1.9% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 1.1% VS 2022
▲ 1.5% VS 2022
▼ 10% VS 2022
▲ 8% VS 2022
Therewere3,734 condolistingsin theG reater Vancouverboard areain M ay,0.7% aboveApriland 10% lowerthan M ay2022. M aycondosalesincreased by23% m onth-over-m onth,to 1,735,and were8% aboveM ay2022.
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
Thesales-to-listing ratio forcondosin the G reater Vancouverboard area,at46% ,reflected aselers'm arket.
TOTALLISTINGS TOTALSALES
1,735 3,734
1,604 4,160
1.9% 1.1% 1.5% 21% 8% -10%
1,415 3,707
3% 2% 1.1% 22% 23% 0.7%
Thecondom edian pricein M aywas$728,000,a1.1% increasefrom Apriland 1.5% aboveM ay2022. Theaveragesold pricewas$823,415,2% abovelast m onth;theaveragePSF salepricewas$968,up 3% to lastm onth.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$968 $823,415 $728,000 46%
$950 $814,075 $716,950 39%
$936 $803,547 $719,900 38%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAY 202 ● MAY 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
4,038
4,160 4,358
4,298
3,693
4,223
4,193
3,996
3,734
3,707
3,530
3,348
3,163
1,735
1,604
1,318
1,005
997
1,415
1,326
1,062
932
892
848
707
573
$717K $698K $694K $690K $670K $677K
$680K $685K $690K $680K $705K $720K $728K
REBGV
FVREB
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
1000
29 2
4+ bdrms
800
74%
126
600
62%
3 bdrms
476
50%
43%
400
36%
916
22%
2 bdrms
200
16%
2,005
12%
0
691
<$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
95 41 43%
546 402 74%
991 615 62%
749 377 50%
418 150 36%
286 62 22%
301 47 16%
348 41 12%
1,224
Copyright© June5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune5,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 10 ●
fraservaley board area DETACHED -MAY 2023
SALES TO LISTINGSRATIO 26% SELLERS'M ARKET
▶ MARKETSUMMARY Therew ere 2,533 detached listingsin the FraserValey board areain M ay,27% aboveApriland 15% lowerthan May 2022. M ay detached hom esalesincreased by 12% m onth-over-m onth,to660,and were36% aboveM ay 2022. Thesales-to-listing ratio fordetached in the FraserValey board area,at26% ,reflected aselers'm arket.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 0.4% VS 2022
▼ 2.0% VS 2022
▼ 15% VS 2022
▲ 36% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
26% 660 2,533
16% 485 2,964
0.4% -2% 59% 36% -15%
30% 591 1,998
8% 5% -12% 12% 27%
Thedetachedm edian pricein M aywas$1,500,000,a5% increasefrom Apriland 2.0% below M ay2022.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
Theaveragesold pricewas$1,657,567,8% abovelast m onth and up 0.4% toM ay2022.
$1,536,365 $1,430,000
$1,657,567 $1,500,000
$1,651,213 $1,530,000
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
3,131
2,964
2,699
3,041
2,533
2,810
2,344
1.76
1.76
1.70
2,541
1.65
1,939
1.59
1.59
1,998
1,858
1,848
1,752
591
660
426
363
327
313
485
258
213
591
342
325
323
$1.53M $1.48M
$1.43M $1.50M
$1.42M $1.34M
$1.32M $1.32M $1.24M
$1.28M $1.28M $1.31M $1.35M
22-May
23-Apr
23-May
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
700
600
500
400
44%
43%
300
40%
35%
32%
30%
200
18%
13%
100
8%
0
<$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
74 24 32%
25 11 44%
97 39 40%
202 87 43%
465 163 35%
701 213 30%
357 63 18%
218 28 13%
394 32 8%
Copyright© June5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune5,2023.Aldatafrom RealEstateBoardof GreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipient oftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained from aren ieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
11
fraservaley board area TOWNHOME-MAY 2023
SALES TO LISTINGSRATIO 56% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere799 townhom elistingsin theFraserValey board areain M ay,18% aboveApriland 36% lowerthan May 2022. M aytownhom esalesincreased by15% m onth-over-m onth,to445,and were24% aboveM ay 2022. Thesales-to-listing ratio fortow nhom esin theFraser Valey board area,at56% ,reflected aselers'm arket. Thetownhom em edian pricein M aywas$850,000,a 1.3% increasefrom Apriland 2% below M ay2022. Theaveragesold pricewas$852,891,1.8% abovelast m onth;theaveragePSF salepricewas$537,up 0.7% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 4% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 3% VS 2022
▼ 2% VS 2022
▼ 36% VS 2022
▲ 24% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No. 57% 388 679
% Change
TOTALLISTINGS TOTALSALES
56% 445 799
29% 360 1,248
93% 24% -36%
0.7% 1.8% 1.3% -3% 15% 18%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$537 $852,891 $850,000
$533 $838,093 $838,950
$562 $883,327 $870,000
-4% -3% -2%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAY 202 ● MAY 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,307
1,248
1,330
1,17
1,156
945
1,001
799
684
751
684
679
661 390
361
445
283
360
245
388
242
234
235
189
169
154
$870K $855K $843K
$808K $839K $850K
$790K $780K $770K $798K $745K $745K $770K
FVREB
REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
350
102
4+ bdrms
300
223
250
235
61% 60%
3 bdrms
57%
200
414
48%
150
28%
107
26%
100
2 bdrms
157
50
0
5 1
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
S-L RATIO SALES INVENTORY
19 5 26%
44 21 48%
237 134 57%
353 216 61%
99 59 60%
36 10 28%
11 0 n/a
Copyright© June5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune5,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 12 ●
fraservaley board area CONDO -MAY 2023
SALES TO LISTINGSRATIO 43% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere1,189 condolistingsin theFraserValey board areain M ay,12% aboveApriland 4% lowerthan May 2022. M aycondosalesincreased by6% m onth-over-m onth,to 517,and were15% aboveM ay2022.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 2% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 1.0% VS 2022
▼ 2% VS 2022
▼ 4% VS 2022
▲ 15% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
Thesales-to-listing ratio forcondosin the FraserValey board area,at43% ,reflected aselers'm arket.
TOTALLISTINGS TOTALSALES
43% 517 1,189
37% 451 1,234
-2% -1% -2% 19% 15% -4%
46% 487 1,062
3% 2% 5% -5% 6% 12%
Thecondom edian pricein M aywas$535,000,a5% increasefrom Apriland 2% below M ay2022. Theaveragesold pricewas$557,029,2% abovelast m onth;theaveragePSF salepricewas$654,up 3% to lastm onth.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$654 $557,029 $535,000
$636 $544,285 $510,000
$670 $562,917 $548,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAY 202 ● MAY 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,237
1,318
1,234
1,306
1,303
1,294
1,189
1,236
1,073
1,060
1,062
1,017
975
491
517
406
451
487
273
356
305
285
279
277
217
198
$548K $540K $535K
$515K $500K $505K $490K $485K $497K
$499K $510K $510K $535K
FVREB
REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
600
3 1
4+ bdrms
500
400
33
3 bdrms
62
300
49% 48%
42%
37%
200
29% 30%
322
2 bdrms
18%
708
100
0
161
<$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
129 63 49%
618 296 48%
328 122 37%
65 27 42%
22 4 18%
7 2 29%
10 3 30%
10 0 n/a
416
Copyright© June5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune5,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 13 ●
burnabynorth DETACHED -MAY 2023
SALES TO LISTINGSRATIO 49% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 7% VS 2022
▼ 7% VS 2022
▼ 27% VS 2022
▲ 40% VS 2022
Therewere86 detachedlistingsin BurnabyN orth in M ay,1.1% below Apriland 27% lowerthan M ay2022. M ay detached hom esalesincreased by 35% m onth-over-m onth,to42,and were40% aboveM ay 2022. Thesales-to-listing ratio fordetached in Burnaby N orth, at49% ,reflected aselers'm arket.
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
42 86
$2,286,750 $2,199,000 25% 30 118
92% 40% -27%
31 87
-4% -1.9% 37% 35% -1.1%
Thedetachedm edian pricein M aywas$2,049,400,a 1.9% decreasefrom Apriland 7% below M ay2022.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$2,124,339 $2,049,400 49%
$2,220,686 $2,090,000 36%
Theaveragesold pricewas$2,124,339,4% below last m onthand down 7% toM ay2022.
-7% -7%
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
131
122
15
18
2.59
109
92
87
86
85
95
86
2.32
2.25
85
79
35
42
28
26
25
24
30
18
31
1.40
1.32
22
19
16
10
1.14
$2.20M
$2.09M $2.05M
$2.04M $2.08M
$2.04M $1.96M
$1.96M $1.93M $1.89M
$1.79M
$1.75M $1.71M
22-May
23-Apr
23-May
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
30
100%+
25
20
71%
57%
15
50%
10
5
9%
0
<$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
1 2 200%
28 16 57%
21 15 71%
14 7 50%
22 2 9%
Copyright© June5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune5,2023.Aldatafrom RealEstateBoardof GreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipient oftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained from aren ieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
14
burnabynorth TOWNHOME-MAY 2023
SALES TO LISTINGSRATIO 91% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 2% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 10% VS 2022
▼ 19% VS 2022
▲ 17% VS 2022
▲ 107% VS 2022
Therewere34 townhom elistingsin BurnabyN orth in M ay,nochangetoApriland 17% higherthan M ay2022. M aytownhom esalesincreased by35% m onth-over-m onth,to31,and were107% aboveM ay 2022. Thesales-to-listing ratio fortow nhom esin Burnaby N orth,at91% ,reflected aselers'm arket. Thetownhom em edian pricein M aywas$790,000,a 12% decreasefrom Apriland 19% below M ay2022. Theaveragesold pricewas$878,387,6% below last m onth;theaveragePSF salepricewas$682,up 6% to lastm onth.
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
31 34
15 29
-2% -10% -19% 76% 107% 17%
23 34
6% -6% -12% 35% 35% 0%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$682 $878,387 $790,000 91%
$698 $978,733 $978,000 52%
$643 $932,578 $899,900 68%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAY 202 ● MAY 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
45
38
35
34 34
39
33
36
31
29
31
25 25 25
23
17
17
15
12
15
12
1
8
8
7
5
$978K
$969K
$880K $885K $900K
$875K $868K
$860K
$790K
$770K $748K $775K
$748K
BURNABYNORTH REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
4 4
100%+
100%
100%+
8
4+ bdrms
71%
6
14
3 bdrms
17
43%
4
12
2 bdrms
2
9
0
1
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
4
S-L RATIO SALES INVENTORY
1 0 n/a
4 7 175%
9 9 100%
7 5 71%
6 7 117%
7 3 43%
Copyright© June5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune5,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 15 ●
burnabynorth CONDO -MAY 2023
SALES TO LISTINGSRATIO 40% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 10% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 0.3% VS 2022
▼ 0.5% VS 2022
▼ 3% VS 2022
▼ 3% VS 2022
Therewere301 condolistingsin BurnabyN orth in M ay, 11% aboveApriland 3% lowerthan M ay2022.
M aycondosalesincreased by3% m onth-over-m onth,to 120,and were3% below M ay2022.
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No. 40% 124 309
% Change
No. 43% 116 270
% Change
Thesales-to-listing ratio forcondosin Burnaby N orth,at 40% ,reflected aselers'm arket.
TOTALLISTINGS TOTALSALES
40% 120 301
-3% -3%
7% 1.7% 2% -7% 3% 11%
Thecondom edian pricein M aywas$695,950,a2% increasefrom Apriland 0.5% below M ay2022. Theaveragesold pricewas$750,076,1.7% abovelast m onth;theaveragePSF salepricewas$986,up 7% to lastm onth.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
10% 0.3% -0.5% -0.7%
$986 $750,076 $695,950
$920 $737,486 $680,000
$900 $747,690 $699,450
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAY 202 ● MAY 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
309
287
301
268
264
300
301
253
270
257
251
245
218
12
124
120
92
88 82
16
96
50
80
58
52
44
$699K
$692K $704K $667K $707K $661K $708K $680K $696K
$650K $671K $676K $651K
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
80
12
60
58%
3 bdrms
55%
32
40
36%
56
2 bdrms
20
195
12% 14% 14%
0
52
<$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
45 26 58%
98 54 55%
89 32 36%
34 4 12%
14 2 14%
14 2 14%
7 0 n/a
74
Copyright© June5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune5,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 16 ●
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