the rennie review DATA DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR SUB MARKETS IN THE VANCOUVER REGION
published January 2023
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 Wyse SENIOR ANALYST rwyse@rennie.com
Ryan Berlin DIRECTOR OF INTELLIGENCE & SENIOR ECONOMIST rberlin@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 January , . 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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
All the hullabaloo of 2022 The full-year numbers characterizing Vancouver’s housing market in 2022 belie two distinct 6-month stretches, the latter of which concluded with December’s 1,963 MLS sales marking a 6th-straight month of fewer than 3,000 transactions—the most protracted slowdown in a decade.
Despite the prolonged slowdown in sales that characterized the second half of 2022, there were only 10,876 homes available for purchase across the Vancouver Region by the end of December. Sure, this was 61% higher than the record-low inventory of one year ago, but more tellingly it was 10% below the long-run average. Furthermore, the region’s total listing count slipped below the 10,000-mark on January 1st after end-of-year expiries and cancellations took effect. As of writing this report a week into January, total listings remain below 10,000. With another potential interest rate increase from the Bank of Canada looming on January 25th, it’s unlikely that housing market activity will evolve away from its recent (and current) trajectory in the near-term. Having said that, our view is that meaningful changes in our market dynamics may reveal themselves as early as Q2, and for details pertaining to our market outlook, we encourage you to read the 2023 edition of the rennie outlook, which we’ll publish at the end of January.
In the past two editions of the rennie review (here and here), we noted that the Vancouver Region was on pace for 6 consecutive months with less than 3,000 MLS sales. And with the final December numbers tallied, not only is that what transpired, but December actually recorded fewer than 2,000 transactions. Last month’s 1,963 sales in the region were 55% less than December 2021’s pandemic-bloated tally, 39% less than the past-10-year average, and were the lowest of any December since 2018. This marks the first time in a decade that the region has recorded 6 straight months (and possibly counting) without hitting the 3,000 threshold. And with December now in the books, we can observe how the once-in- a-decade slowdown of the past half-year fits within the broader context of 2022. Last year’s total MLS sales finished at 43,624, which is 38% less than the record-setting total from 2021 and 14% less than the past-10-year
average. That total sales were only 14% less than a typical year speaks to the divergent experience of 2022’s first and second halves: almost two-thirds of all sales last year (28,253) occurred between January and June, while the remaining one-third (15,371 sales) occurred between July and December. This 65%-35% split in sales counts between the first and second halves of 2022 compares to a more typical split of 52%-48%, and was the most skewed sales distribution since 1982. Interestingly, if the pace of sales in the first half of the year continued through the balance of 2022, the Vancouver Region would have tallied more than 54,000 sales, which would have represented the second-highest annual total since 2017. Conversely, if the pace of transactions in the second half of the year had prevailed for the entire 12 months of 2022, it would have yielded just over 32,000 sales, for what would have been the lowest annual total since 2000.
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 January , . 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
, , NORTH VAN
, , SQUAMISH
, , BOWEN ISLAND
Philip Avenue Bed, , SF Charlie Kim PREC* . .
Jay Crescent Bed, , SF
Douglas Road Bed, , SF Natalie Genest PREC* ..
Jeevan Gill . .
House
Legacy
House
,, NORTH DELTA
, , FAIRVIEW - Birch Street Bed, , SF Brandan Price PREC* . .
,, MAPLE RIDGE
Stegavik Court
Rock Ridge Drive Bed, , SF Rob Breckwoldt PREC* . .
Bed, , SF
Lorenzo Daminato PREC* . .
Townhome
2550 Garden Drive ,, VAN EAST - Garden Drive Bed, , SF
The Charleson
,, VICTORIA Commercial Street Bed, , SF
, , YALETOWN
-
Pacific Street
Bed, , SF
Christopher Boyd PREC* . .
Calvin Kan PREC* . .
Jordan Wong . .
Elements
Etoile
House
, , SQUAMISH - Government Road Bed, , SF Shawn Wentworth PREC* . .
,, SQUAMISH
, BURNABY NORTH
Guilford Drive Bed, , SF
- Goring Street Bed, SF
Will Black . .
Danny Chow PREC* . .
, MT. PLEASANT Second and Main
Boardwalk Four , LADNER
The Sentinel
, WEST VAN
- E. nd Avenue Bed, SF
-
Cormorant Way
-
Klahanie Court
Bed, , SF
Bed, SF
Tony Liang PREC* ..
Allison Lafrenier . .
Mike Ross ..
Azura One , YALETOWN - Richards Street Bed, SF Eric Zamora PREC* . .
2300 Kingsway , COLLINGWOOD - Eldorado Mews Bed, SF Ryan Wong PREC* ..
8x On the Park
, DOWNTOWN - Richards Street Bed, SF
Nagib Karim PREC* ..
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 January 4, 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 -DECEMBER 202
SALESTO LISTINGSRATIO 13% BALANCEDMARKET
▶ MARKETSUMMARY Therewere4,785 detached listingsin theVancouver Region in D ecem ber,19% below N ovem berand 52% higherthan D ecem ber2021. D ecem berdetached hom esalesdecreased by 21% m onth-over-m onth,to636,and were57% below D ecem ber2021. Thesales-to-listing ratio fordetached in the Vancouver Region,at13% ,reflected abalanced m arket. Thedetachedm edian pricein D ecem berwas$1,500,000, a0.0% increasefrom N ovem berand 11% below D ecem ber2021. Theaveragesold pricewas$1,745,664,0.9% abovelast m onth and down 11% toD ecem ber2021.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 11% VS2021
▼ 11% VS2021
▲ 52% VS2021
▼ 57% VS2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
%Change
%Change
No.
TOTALLISTINGS TOTALSALES
13% 636 4,785
1,489 3,152
-11% -11% -72% -57% 52%
0.9% 0% -1.8% -21% -19%
14% 804 5,942
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$1,971,540 $1,690,000 47%
$1,730,468 $1,499,950
$1,745,664 $1,500,000
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
7,630
7,232
6,847
7,416
6,495
6,997
5,942
1.88
5,512 6,329
1.79
1.74
4,609
4,785
1.46
1.40
1.38
3,152
3,341
2,313
1,085
1,489
906
1,749
888
804
1,565
1,282
1,146
636
874
857
$1.83M $1.80M $1.73M $1.85M $1.89M
$1.69M
$1.65M $1.60M $1.53M $1.52M $1.54M $1.50M $1.50M
Dec-21
Nov-22
Dec-22
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21%+
BALANCED 12-20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-LRATIO
1400
1200
1000
800
600
34%
33%
32%
31%
400
21%
15%
12%
200
6%
4%
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+ 1,427 62 4%
S-LRATIO SALES INVENTORY
106 33 31%
59 19 32%
162 53 33%
290 98 34%
551 114 21%
1,017 149 15%
600 73 12%
573 35 6%
Copyright© January4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJanuary4,2023.Aldatafrom RealEstateBoard ofGreaterVancouverandFraserValey& 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.
●
5
vancouverregion TOWNHOME-DECEMBER 202
SALESTO LISTINGSRATIO 22% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere1,520 townhom elistingsin theVancouver Region in D ecem ber,22% below N ovem berand 159% higherthan D ecem ber2021. D ecem bertownhom esalesdecreased by18% m onth-over-m onth,to338,and were57% below D ecem ber2021. Thesales-to-listing ratio fortow nhom esin theVancouver Region,at22% ,reflected aselers'm arket. Thetownhom em edian pricein D ecem berwas$837,500, a3% decreasefrom N ovem berand 7% below D ecem ber 2021. Theaveragesold pricewas$927,450,0.3% abovelast m onth;theaveragePSF salepricewas$630,up 1.6% to lastm onth.
AVERAGEPRICE
AVERAGE PSFPRICE ▼ 4% VS2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 3% VS2021
▼ 7% VS2021
▲ 159% VS2021
▼ 57% VS2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 782 588
%Change
No.
%Change
TOTALLISTINGS TOTALSALES
22% 338 1,520
-83% -57% 159%
21% 412 1,944
1.6% 0.3% -3% 5% -18% -22%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$656 $957,614 $900,000 133%
$630 $927,450 $837,500
$620 $924,306 $860,000
-4% -3% -7%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● DEC 2021 ● DEC 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
2,182
2,447
2,437
2,109
2,375
1,944
2,207
2,005
1,679
1,250
1,227
1,520
770
766
588 782
91
895
565
514
801
574
338
474
459
412
$990K $1.02M $1.00M
$983K $925K $915K
$900K
$894K $850K $850K $870K $860K $838K
VANCOUVERREGION REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21%+
BALANCED 12-20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-LRATIO
500
59
4+bdrms
400
339
300
185
3bdrms
818
49%
200
31%
90
21% 22%
2bdrms
100
15%
331
10%
9%
5%
0
4
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2bdrms
S-LRATIO SALES INVENTORY
44 2 5%
80 39 49%
331 102 31%
458 96 21%
255 56 22%
152 23 15%
126 13 10%
9%
32
74 7
Copyright© January4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJanuary4,2023.Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Rennie.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 renniegroupofcom panies.E.&O.E. 6 ●
vancouverregion CONDO -DECEMBER 202
SALESTO LISTINGSRATIO 22% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere4,140 condolistingsin theVancouverRegion in D ecem ber,22% below N ovem berand 49% higherthan D ecem ber2021. D ecem bercondo salesdecreased by 17% m onth-over-m onth,to930,and were54% below D ecem ber2021. Thesales-to-listing ratio forcondosin theVancouver Region,at22% ,reflected aselers'm arket. Thecondom edian pricein D ecem berwas$625,000,a 0% changefrom N ovem berand 0.5% below D ecem ber 2021. Theaveragesold pricewas$701,846,0.4% below last m onth;theaveragePSF salepricewas$815,up 0.2% to lastm onth.
AVERAGEPRICE
AVERAGE PSFPRICE ▼ 1.1% VS2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 0.3% VS2021
▼ 0.5% VS2021
▲ 49% VS2021
▼ 54% VS2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
%Change
No.
%Change
TOTALLISTINGS TOTALSALES
22% 930 4,140
2,007 2,772
-1.1% -0.3% -0.5% -69% -54% 49%
1,122 5,276
-17% -22%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$824 $703,761 $628,000 72%
$813 $704,625 $625,000 21%
0% 6%
$815 $701,846 $625,000
0.2% -0.4%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● DEC 2021 ● DEC 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
5,394
5,676
5,276
5,592
5,527
5,500
5,232
4,101
4,704
3,641
4,140
3,16
2,772
2,969
2,055
2,382
2,007
2,242
1,310
1,275
1,122
1,730
1,733
1,418
930
1,173
$672K $695K $685K $680K
$667K $650K $640K $645K $622K $635K $625K $625K
$628K
VANCOUVERREGION REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21%+
BALANCED 12-20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-LRATIO
30 4
1000
4+bdrms
800
51
3bdrms
600
483
400
34% 34%
27%
529
2bdrms
20%
200
2,364
14%
9% 7%
4%
0
346
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2bdrms
S-LRATIO SALES INVENTORY
232 79 34%
990 335 34%
1,084 292 27%
650 129 20%
317 43 14%
254 22 9%
252 17 7%
361 13 4%
1,263
Copyright© January4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJanuary4,2023.Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Rennie.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 renniegroupofcom panies.E.&O.E. 7 ●
greatervancouverboard area DETACHED -DECEMBER 202
SALESTO LISTINGSRATIO 13% BALANCEDMARKET
▶ MARKETSUMMARY Therew ere2,927 detached listingsin theG reater Vancouverboard areain D ecem ber,19% below N ovem berand 31% higherthan D ecem ber2021. D ecem berdetached hom esalesdecreased by 24% m onth-over-m onth,to375,and were53% below D ecem ber2021. Thesales-to-listing ratio fordetached in the G reater Vancouverboard area,at13% ,reflected abalanced market. Thedetachedm edian pricein D ecem berwas$1,700,000, a0.6% increasefrom N ovem berand 8% below D ecem ber 2021. Theaveragesold pricewas$1,995,436,0.4% abovelast m onth and down 8% toD ecem ber2021.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 8% VS2021
▼ 8% VS2021
▲ 31% VS2021
▼ 53% VS2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
%Change
%Change
No.
TOTALLISTINGS TOTALSALES
13% 375 2,927
35% 793 2,235
-64% -53% 31%
0.4% 0.6% -6% -24% -19%
14% 491 3,598
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$1,986,845 $1,690,000
$1,995,436 $1,700,000
$2,174,445 $1,850,000
-8% -8%
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
4,499
4,268
4,148
3,954
4,375
4,187
3,598
1.90
3,279
3,741
1.78
1.72
2,816
2,927
1.47
1.45
2,235
1.41
2,280
1,299
1,008
579
793
491
959
797
657
375
623
531
532
524
$2.01M $2.00M $1.99M $1.90M
$1.85M $1.98M
$1.80M $1.74M $1.70M $1.68M $1.72M $1.69M $1.70M
Dec-21
Nov-22
Dec-22
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21%+
BALANCED 12-20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-LRATIO
1200
1000
800
600
36%
400
33%
25%
23%
19%
18%
15%
200
8%
4%
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+ 1,113 49 4%
S-LRATIO SALES INVENTORY
42 8 19%
28 7 25%
67 22 33%
116 42 36%
240 56 23%
569 105 18%
374 56 15%
378 30 8%
Copyright© January4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJanuary4,2023.Aldatafrom RealEstateBoard ofGreaterVancouverandFraserValey& 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.
●
8
greatervancouverboard area TOWNHOME-DECEMBER 202
SALESTO LISTINGSRATIO 24% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere769 townhom elistingsin theG reater Vancouverboard areain D ecem ber,23% below N ovem berand 98% higherthan D ecem ber2021. D ecem bertownhom esalesdecreased by17% m onth-over-m onth,to184,and were50% below D ecem ber2021. Thesales-to-listing ratio fortow nhom esin theG reater Vancouverboard area,at24% ,reflected aselers'm arket. Thetownhom em edian pricein D ecem berwas$985,000, a4% increasefrom N ovem berand 1.7% aboveD ecem ber 2021. Theaveragesold pricewas$1,082,440,6% abovelast m onth;theaveragePSF salepricewas$755,up 6% to lastm onth.
AVERAGEPRICE
AVERAGE PSFPRICE ▲ 0.5% VS2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 2.0% VS2021
▲ 1.7% VS2021
▲ 98% VS2021
▼ 50% VS2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 94% 365 388
%Change
No. 22% 223 999
%Change
TOTALLISTINGS TOTALSALES
24% 184 769
0.5% 2% 1.7% -75% -50% 98%
-17% -23%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
6% 6% 4% 7%
$755 $1,082,440 $985,000
$712 $1,021,406 $948,000
$751 $1,061,688 $969,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● DEC 2021 ● DEC 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,140
1,108
999
1,127
1,107
1,051 1,065
921
755
629
769
599
409
504
467
388
446
441
282
269
365
284
184
240
223
223
$1.10M $1.10M $1.15M $1.10M
$1.03M $1.01M
$1.02M $948K $985K
$990K $942K $928K
$969K
REBGV
FVREB
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21%+
BALANCED 12-20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-LRATIO
28
150
4+bdrms
130
100
103
3bdrms
437
39%
33%
50
29%
28%
50
2bdrms
18%
176
11%
9%
6%
0
3
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2bdrms
S-LRATIO SALES INVENTORY
18 1 6%
24 7 29%
93 36 39%
160 53 33%
160 45 28%
120 22 18%
120 13 11%
9%
26
74 7
Copyright© January4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJanuary4,2023.Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Rennie.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 renniegroupofcom panies.E.&O.E. 9 ●
greatervancouverboard area CONDO -DECEMBER 202
SALESTO LISTINGSRATIO 22% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere3,165 condolistingsin theG reater Vancouverboard areain D ecem ber,22% below N ovem berand 32% higherthan D ecem ber2021. D ecem bercondo salesdecreased by 16% m onth-over-m onth,to712,and were51% below D ecem ber2021. Thesales-to-listing ratio forcondosin the G reater Vancouverboard area,at22% ,reflected aselers'm arket. Thecondom edian pricein D ecem berwas$685,000,a 0.7% increasefrom N ovem berand 0.7% aboveD ecem ber 2021. Theaveragesold pricewas$764,719,0.3% below last m onth;theaveragePSF salepricewas$883,up 0.3% to lastm onth.
AVERAGEPRICE
AVERAGE PSFPRICE ▼ 0.3% VS2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 0.5% VS2021
▲ 0.7% VS2021
▲ 32% VS2021
▼ 51% VS2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
%Change
No.
%Change
TOTALLISTINGS TOTALSALES
22% 712 3,165
1,464 2,399
-0.3% 0.5% 0.7% -63% -51% 32%
21% 849 4,039
0.3% -0.3% 0.7% 7% -16% -22%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$886 $760,685 $680,000 61%
$883 $764,719 $685,000
$881 $766,720 $680,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● DEC 2021 ● DEC 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
4,160
4,039
4,358 4,298
4,194 4,224
3,996
3,707
3,250
3,165
2,875
2,315
2,399
2,549
1,864
1,604
1,326
1,464
1,692
1,005
998
1,315
1,062
712
893
849
$735K $717K $698K $694K $690K
$725K $735K $740K
$680K
$670K $678K $680K $685K
REBGV
FVREB
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21%+
BALANCED 12-20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-LRATIO
800
28 4
4+bdrms
600
41
3bdrms
424
400
43%
33%
31%
398
200
20%
2bdrms
14%
1,768
8% 7%
4%
0
269
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2bdrms
S-LRATIO SALES INVENTORY
100 33 33%
474 204 43%
823 257 31%
617 124 20%
302 43 14%
248 21 8%
248 17 7%
353 13 4%
945
Copyright© January4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJanuary4,2023.Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Rennie.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 renniegroupofcom panies.E.&O.E. 10 ●
fraservaley board area DETACHED -DECEMBER 202
SALESTO LISTINGSRATIO 14% BALANCEDMARKET
▶ MARKETSUMMARY Therew ere1,858 detached listingsin theFraserValey board areain D ecem ber,21% below N ovem berand 103% higherthan D ecem ber2021. D ecem berdetached hom esalesdecreased by 17% m onth-over-m onth,to261,and were63% below D ecem ber2021. Thesales-to-listing ratio fordetached in the FraserValey board area,at14% ,reflected abalanced m arket. Thedetachedm edian pricein D ecem berwas$1,280,000, a4% increasefrom N ovem berand 19% below D ecem ber 2021. Theaveragesold pricewas$1,386,797,4% abovelast m onth and down 20% toD ecem ber2021.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 20% VS2021
▼ 19% VS2021
▲ 103% VS2021
▼ 63% VS2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 76% 696 917
%Change -20% -19% -81% -63% 103%
%Change
No.
TOTALLISTINGS TOTALSALES
14% 261 1,858
-17% -21%
13% 313 2,344
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
4% 4% 5%
$1,328,294 $1,235,000
$1,386,797 $1,280,000
$1,740,355 $1,581,500
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
2,964
3,131
2,699
3,041
2,541
2,810
1.82
2,344
2,233
2,588
1.72
1.64
1.63
1.55
1,793
1.54
1,858
1,014
917
1,061
428
741
364
696
327
313
606
523
485
261
343
325
$1.75M $1.78M $1.70M
$1.61M $1.53M $1.48M
$1.58M
$1.42M $1.34M $1.32M $1.32M
$1.24M $1.28M
Dec-21
Nov-22
Dec-22
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21%+
BALANCED 12-20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-LRATIO
400
300
200
39%
39%
33%
32%
100
19%
10%
8%
4%
3%
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-LRATIO SALES INVENTORY
64 25 39%
31 12 39%
95 31 33%
174 56 32%
311 58 19%
448 44 10%
226 17 8%
195 5 3%
314 13 4%
Copyright© January4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJanuary4,2023.Aldatafrom RealEstateBoard ofGreaterVancouverandFraserValey& 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.
●
11
fraservaley board area TOWNHOME-DECEMBER 202
SALESTO LISTINGSRATIO 21% BALANCEDM ARKET
▶ MARKETSUMMARY Therewere751 townhom elistingsin theFraserValey board areain D ecem ber,21% below N ovem berand 276% higherthan D ecem ber2021. D ecem bertownhom esalesdecreased by19% m onth-over-m onth,to154,and were63% below D ecem ber2021. Thesales-to-listing ratio fortow nhom esin theFraser Valey board area,at21% ,reflected abalanced m arket. Thetownhom em edian pricein D ecem berwas$745,000, a7% decreasefrom N ovem berand 14% below D ecem ber 2021. Theaveragesold pricewas$742,267,8% below last m onth;theaveragePSF salepricewas$480,down 6% to lastm onth.
AVERAGEPRICE
AVERAGE PSFPRICE ▼ 16% VS2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 14% VS2021
▼ 14% VS2021
▲ 276% VS2021
▼ 63% VS2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 417 200
%Change -16% -14% -14% -90% -63% 276%
No. 20% 189 945
%Change
TOTALLISTINGS TOTALSALES
21% 154 751
-19% -21%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$572 $866,519 $870,000 209%
-6% -8% -7% 3%
$480 $742,267 $745,000
$510 $809,737 $798,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● DEC 2021 ● DEC 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,307
1,248
1,330
1,17
1,156
945
924
1,084
1,001
628
621
751
361
417
320
283
444
245
391
360
290
200
234
236
154
189
$970K $950K $913K
$870K $855K $843K
$870K $930K
$790K $780K $770K $798K $745K
FVREB
REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21%+
BALANCED 12-20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-LRATIO
300
31
4+bdrms
250
209
200
82
57%
3bdrms
381
150
100
28%
40
2bdrms
14% 12%
155
50
4%
3%
0
1
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2bdrms
S-LRATIO SALES INVENTORY
26 1 4%
56 32 57%
238 66 28%
298 43 14%
95 11 12%
32 1 3%
6 0 n/a
6
Copyright© January4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJanuary4,2023.Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Rennie.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 renniegroupofcom panies.E.&O.E. 12 ●
fraservaley board area CONDO -DECEMBER 202
SALESTO LISTINGSRATIO 22% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSFPRICE ▼ 10% VS2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 10% VS2021
▼ 8% VS2021
▲ 161% VS2021
▼ 60% VS2021
Therewere975 condolistingsin theFraserValeyboard areain D ecem ber,21% below N ovem berand 161% higherthan D ecem ber2021. D ecem bercondo salesdecreased by 20% m onth-over-m onth,to218,and were60% below D ecem ber2021. Thesales-to-listing ratio forcondosin theFraserValey board area,at22% ,reflected aselers'm arket. Thecondom edian pricein D ecem berwas$485,000,a 1.0% decreasefrom N ovem berand 8% below D ecem ber 2021. Theaveragesold pricewas$496,496,3% below last m onth;theaveragePSF salepricewas$591,down 2.0% to lastm onth.
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 543 373
%Change
No.
%Change
TOTALLISTINGS TOTALSALES
22% 218 975
-10% -10% -8% -85% -60% 161%
22% 273 1,237
1.3% -20% -21%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$659 $550,288 $529,000 146%
$591 $496,496 $485,000
$603 $511,514 $490,000
-2% -3% -1%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● DEC 2021 ● DEC 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,237
1,234
1,318
1,306 1,303
1,294
1,236
851
997
975
766
801
543
407
550
518
373
451
273
415
420
356
305
218
280
277
$570K $566K $548K $540K $535K
$564K $574K
$529K
$515K $500K $505K $490K $485K
FVREB
REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21%+
BALANCED 12-20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-LRATIO
500
4+bdrms
2
400
10
300
3bdrms
59
200
35%
131
25%
2bdrms
17%
100
596
13% 15%
0
77
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2bdrms
S-LRATIO SALES INVENTORY
132 46 35%
516 131 25%
261 35 13%
33 5 15%
15 0 n/a
6 1 17%
4 0 n/a
8 0 n/a
318
Copyright© January4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJanuary4,2023.Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Rennie.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 renniegroupofcom panies.E.&O.E. 13 ●
burnabynorth DETACHED -DECEMBER 202
SALESTO LISTINGSRATIO 21% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere85 detachedlistingsin BurnabyN orth in D ecem ber,8% below N ovem berand 44% higherthan D ecem ber2021. D ecem berdetached hom esalesdecreased by 5% m onth-over-m onth,to18,and were45% below D ecem ber2021. Thesales-to-listing ratio fordetached in Burnaby N orth, at21% ,reflected aselers'm arket. Thedetachedm edian pricein D ecem berwas$1,792,000, a8% decreasefrom N ovem berand 10% below D ecem ber 2021. Theaveragesold pricewas$1,956,173,11% below last m onth and down 9% toD ecem ber2021.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 9% VS2021
▼ 10% VS2021
▲ 44% VS2021
▼ 45% VS2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
%Change
%Change
No.
TOTALLISTINGS TOTALSALES
18 85
33 59
-9% -10% -62% -45% 44%
-5% -8%
19 92
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
-11% -8% 3%
$2,187,547 $1,955,000 21%
$1,956,173 $1,792,000 21%
$2,155,733 $1,988,888 56%
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
131
122
18
15
2.32
109
2.23
92
87
2.06
95
93
85
64
59
61 47
37
30
28 25
1.30
33
40
24
1.24
1.24
18
22
19
17
16
$2.30M
$2.13M $2.20M $2.04M $2.08M
$2.04M
$1.99M $2.17M $2.12M
$1.96M $1.79M
$1.75M $1.71M
Dec-21
Nov-22
Dec-22
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21%+
BALANCED 12-20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-LRATIO
30
100%+
25
20
15
10
29%
19%
5
10%
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-LRATIO SALES INVENTORY
1 0 n/a
1 4 400%
28 8 29%
21 4 19%
14 0 n/a
20 2 10%
Copyright© January4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJanuary4,2023.Aldatafrom RealEstateBoard ofGreaterVancouverandFraserValey& 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.
●
14
burnabynorth TOWNHOME-DECEMBER 202
SALESTO LISTINGSRATIO 29% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere24 townhom elistingsin BurnabyN orth in D ecem ber,23% below N ovem berand 100% higherthan D ecem ber2021. D ecem bertownhom esalesdecreased by59% m onth-over-m onth,to7,and were61% below D ecem ber 2021. Thesales-to-listing ratio fortow nhom esin Burnaby N orth,at29% ,reflected aselers'm arket. Thetownhom em edian pricein D ecem berwas$868,000, a0.8% decreasefrom N ovem berand 1.3% above D ecem ber2021. Theaveragesold pricewas$888,929,2% abovelast m onth;theaveragePSF salepricewas$600,down 7% to lastm onth.
AVERAGEPRICE
AVERAGE PSFPRICE ▼ 10% VS2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 3% VS2021
▲ 1.3% VS2021
▲ 100% VS2021
▼ 61% VS2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
%Change
No.
%Change
TOTALLISTINGS TOTALSALES
$600 $888,929 $868,000 29% 7 24
18 12
-10% -3% 1.3% -81% -61% 100%
17 31
-7% 2% -0.8% -47% -59% -23%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$669 $918,639 $856,500 150%
$646 $869,741 $875,000 55%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● DEC 2021 ● DEC 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
45
38
35
39
33
36
29
31
25
23
24
18
17
17
15
18
12
17
16
12
12
12
1
8
7
5
$969K
$950K $989K $978K
$875K $868K
$860K
$857K $883K $905K
$770K $748K $775K
BURNABYNORTH REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21%+
BALANCED 12-20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-LRATIO
7
1
4+bdrms
6
5
80%
5
4
4
3bdrms
15
3
33%
2
2
2bdrms
4
1
0
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2bdrms
S-LRATIO SALES INVENTORY
0 1 n/a
7 0 n/a
5 4 80%
6 2 33%
4 0 n/a
2 0 n/a
Copyright© January4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJanuary4,2023.Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Rennie.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 renniegroupofcom panies.E.&O.E. 15 ●
burnabynorth CONDO -DECEMBER 202
SALESTO LISTINGSRATIO 23% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere219 condolistingsin BurnabyN orth in D ecem ber,18% below N ovem berand 51% higherthan D ecem ber2021. D ecem bercondo salesdecreased by 4% m onth-over-m onth,to50,and were50% below D ecem ber2021. Thesales-to-listing ratio forcondosin Burnaby N orth,at 23% ,reflected aselers'm arket. Thecondom edian pricein D ecem berwas$667,444,a 5% decreasefrom N ovem berand 4% below D ecem ber 2021. Theaveragesold pricewas$691,428,4% below last m onth;theaveragePSF salepricewas$850,up 5% to lastm onth.
AVERAGEPRICE
AVERAGE PSFPRICE ▲ 0.9% VS2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 1.8% VS2021
▼ 4% VS2021
▲ 51% VS2021
▼ 50% VS2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 70% 101 145
%Change
No.
%Change
TOTALLISTINGS TOTALSALES
$850 $691,428 $667,444 23% 50 219
0.9% -1.8% -4% -67% -50% 51%
$807 $719,531 $703,500 19% 52 268
5% -4% -5% 18% -4% -18%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$842 $703,755 $692,500
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● DEC 2021 ● DEC 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
286
287
309
268
264
300 301
257
200
219
176
167
180
145
124
160
88
101
82
12
104
96
80
50
58
52
$778K $750K $729K
$704K $667K
$699K $650K $671K $676K
$693K $700K
$651K $692K
BURNABYNORTH REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21%+
BALANCED 12-20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-LRATIO
80
70
100%
4+bdrms
1
60
50
3
3bdrms
40
25
42%
30
27%
29
20
2bdrms
17% 14%
136
10
0
18
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2bdrms
S-LRATIO SALES INVENTORY
1 1 100%
36 15 42%
73 20 27%
69 12 17%
14 2 14%
7 0 n/a
13 0 n/a
6 0 n/a
57
Copyright© January4,2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJanuary4,2023.Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Rennie.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 renniegroupofcom panies.E.&O.E. 16 ●
Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63Made with FlippingBook - professional solution for displaying marketing and sales documents online