the rennie review DATA ! DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR " 5 SUB ! MARKETS IN THE VANCOUVER REGION
published April 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 Wyse SENIOR ANALYST rwyse@rennie.com
Ryan Berlin DIRECTOR OF INTELLIGENCE & SENIOR ECONOMIST rberlin@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 April 4, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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
One month doesn ’ t make a trend , sure—but what about two? Benchmark prices increased in the Vancouver Region for the second consecutive month, even as borrowing costs remain elevated. The enduring sellers’ market reflects increasing sales counts against a backdrop of stagnant inventory.
months-of-inventory (MOI) measure for the Vancouver Region declined to 2.9 in March—reflecting an entrenched sellers’ market (note: a sellers’ market is denoted by 5.0 or less MOI). Furthermore, conditions now favour sellers across the markets for each home type (detached homes, townhomes, and condos). Not surprisingly and as already noted, benchmark prices increased again in March, this time by an average of 1.9% (detached home prices increased 2.4%, townhomes 2.0%, and condos 1.0%). That the Bank of Canada is likely to continue to hold its trend-setting interest rate where it is for the foreseeable future means that, going forward, there’s more macroeconomic clarity for both potential buyers and sellers. However, unless the latter group stimulates an expansion of resale housing supply, it’s more than likely that the most recent two- month upward price trend will continue for some months to come.
To put numbers to it, there were 4,022 sales in the Vancouver Region in March, which was a 50% increase from February and the first time sales surpassed the 4,000 mark since last May (and the first time above 3,000 since June). Last month’s sales count, however, was 41% lower than in March 2022, and 25% below the past 10-year March average. Inventory, meanwhile, was relatively stagnant, with March wrapping with only 11,758 homes available—a modest 3% increase from February and much less than the typical February-to-March increase of 7%. Overall, inventory now sits 25% below the long-run March average. With the pace of sales increasing alongside barely-expanding inventory, market conditions have shifted considerably in the past two months. Specifically, the
It’s now been one year since the Bank of Canada embarked on its aggressive interest rate tightening cycle, and much of the past year has been characterized by weakened housing market activity and declining prices. And so it came as a bit of a surprise to some when, in February, overall benchmark prices in the Vancouver Region increased on a month-over-month basis for the first time (with the exception of condos) since last spring. We noted in this space last month that not only was overall inventory well below typical levels, but when you dig a little deeper into the listings that are available, supply is even more constrained than it first appears. And as the market progressed through March—a typically busy month for both sales and new listings—the pace of sales did in fact quicken, while listings failed to keep pace, thereby yielding another month of price growth.
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 April 4, 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
The Heritage
8x On The Park
$2,688,000 | WEST VAN
$2,798,000 | WEST VAN PH900 - 1689 Duchess Avenue 2 Bed, 2,440 SF
$2,679,000 | DOWNTOWN 2706 - 1111 Richards Street 3 Bed, 1,753 SF
290 Kelvin Grove Way 7 Bed, 5,185 SF
Kim Taylor 604.315.2654
Jason Soprovich 604.817.8812
Jenna Van Alstine 778.558.3355
House
House
House
$2,499,000 | WEST VAN
$2,399,900 | MAPLE RIDGE
$2,078,000 | BURNABY SOUTH
1010 Keith Road 3 Bed, 2,183 SF
26540 126 Avenue 5 Bed, 4,393 SF
7008 Dow Avenue 6 Bed, 2,919 SF Paul Y. Wong PREC* 604.716.0483
Shannon Pickering 604.812.1887
Rob Breckwoldt PREC* 604.459.7778
Beverly House at Shannon Wall Centre $1,338,000 | SOUTH GRANVILLE
Sea and Sky
House
$1,325,000 | SQUAMISH
$1,828,000 | RENFREW HEIGHTS
3445 E. 28th Avenue 5 Bed, 2,369 SF Christina Prevedoros 604.765.9034
1351 Peakside Place 4 Bed, 1,792 SF Katie McLachlan 604.213.0833
602 - 1561 W. 57th Avenue 2 Bed, 887 SF
Hanson Lu PREC* 604.787.2578
George By Marcon $1,149,000 | PORT MOODY 607 - 3038 St George Street 2 Bed, 1,135 SF
Wynwood Green $939,000 | COQUITLAM 1401 - 585 Austin Avenue 2 Bed, 920 SF
Sea and Sky
$1,172,800 | SQUAMISH
37983 Helm Way 3 Bed, 1,464 SF
Matthew Lee 778.882.2673
Shawn Wentworth PREC* 604.379.6731
Calvin Kan PREC* 604.616.8373
Savoy
Forest Ridge $899,900 | SURREY
Chimney Ridge $899,000 | SURREY 54 - 7250 144 Street 3 Bed, 1,532 SF Jessica Lozada PREC* 604.360.0025 The Columbia At Brewery District $539,800 | NEW WEST 412 - 258 Nelson’s Court 1 Bed, 653 SF Danny Chow PREC* 604.765.2469
$915,000 | CAMBIE
210 - 4240 Cambie Street 1 Bed, 664 SF
110 - 14588 Mcdougall Drive 3 Bed, 1,271 SF
Carmen Hou 604.500.7611
Brandon Blue PREC* 604.999.7792
Residences On Georgia $668,800 | WEST END 2007 - 1288 W. Georgia Street 1 Bed, 589 SF Phil Chang PREC* 604.754.6678
Ginger
$573,000 | STRATHCONA
711 - 718 Main Street 1 Bed, 667 SF
Howard Don 604.786.9998
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 April 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 -MARCH 2023
SALES TO LISTINGSRATIO 26% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere5,016 detached listingsin theVancouver Region in M arch,4% aboveFebruaryand 9% lowerthan M arch 2022. M arch detached hom esalesincreased by 58% m onth-over-m onth,to1,326,and were43% below M arch 2022. Thesales-to-listing ratio fordetached in the Vancouver Region,at26% ,reflected aselers'm arket. Thedetachedm edian pricein M arch was$1,555,000,a 0.3% increasefrom Februaryand 15% below M arch 2022. Theaveragesold pricewas$1,842,508,1.6% abovelast m onth and down 11% toM arch 2022.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 11% VS 2022
▼ 15% VS 2022
▼ 9% VS 2022
▼ 43% VS 2022
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
1,326 5,016
2,312 5,512
-11% -15% -37% -43% -9%
17% 838 4,816
1.6% 0.3% 52% 58% 4%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$1,842,508 $1,555,000 26%
$2,079,042 $1,825,000 42%
$1,812,945 $1,550,000
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
7,232
7,630
6,847
7,416
6,495
6,997
5,942
1.83
1.80
1.80
6,329
5,512
4,816
5,016
4,786
1.49
4,553
1.39
1.38
2,312
888
905
1,326
803
632 514
1,559
1,281
1,083
873
857
838
$1.83M $1.80M
$1.73M $1.65M
$1.60M $1.53M $1.52M $1.54M $1.50M $1.50M
$1.45M $1.55M $1.56M
22-Mar
23-Feb
23-Mar
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
1600
1400
1200
73%
1000
800
55%
47%
47%
600
35%
31%
400
23%
13%
200
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+ 1,463 137 9%
S-L RATIO SALES INVENTORY
116 41 35%
60 33 55%
158 74 47%
265 194 73%
566 266 47%
1,107 341 31%
708 164 23%
573 76 13%
Copyright© April4,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofApril4,2023.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-MARCH 2023
SALES TO LISTINGSRATIO 49% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere1,563 townhom elistingsin theVancouver Region in M arch,2% aboveFebruaryand 9% lowerthan M arch 2022. M arch townhom esalesincreased by39% m onth-over-m onth,to 760,and were40% below M arch 2022. Thesales-to-listing ratio fortow nhom esin theVancouver Region,at49% ,reflected aselers'm arket. Thetownhom em edian pricein M arch was$865,000,a 0.6% increasefrom Februaryand 14% below M arch 2022. Theaveragesold pricewas$948,529,0.2% below last m onth;theaveragePSF salepricewas$625,down 2% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 13% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 13% VS 2022
▼ 14% VS 2022
▼ 9% VS 2022
▼ 40% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
49% 760 1,563
1,264 1,714
-13% -13% -14% -34% -40% -9%
36% 548 1,527
35% 39% 2%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$719 $1,085,394 $1,000,000 74%
$625 $948,529 $865,000
$638 $950,531 $860,000
-2% -0.2% 0.6%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAR 202 ● MAR 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
2,234
2,498
2,485
2,162
2,425
1,998
2,252
2,047
1,264 1,714
1,563
1,567
1,527
1,506
782
760
902
573
548
516
813
479
468
415
340
289
$1.00M $985K
$927K $920K
$895K $852K $853K $870K $860K $840K
$810K $860K $865K
VancouverRegion REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
500
160
4+ bdrms
400
333
75%
300
63%
414
3 bdrms
52% 52%
836
200
30%
175
25% 24%
2 bdrms
16%
357
100
0
11
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
37
S-L RATIO SALES INVENTORY
27 8 30%
71 45 63%
302 225 75%
474 248 52%
256 134 52%
197 50 25%
161 38 24%
75 12 16%
Copyright© April4,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofApril4,2023.Aldatafrom RealEstateBoardofGreaterVancouver andFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm 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 -MARCH 2023
SALES TO LISTINGSRATIO 38% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere4,755 condolistingsin theVancouverRegion in M arch,3% aboveFebruaryand 16% higherthan M arch 2022. M arch condosalesincreased by49% m onth-over-m onth, to1,811,and were42% below M arch 2022.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 7% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 7% VS 2022
▼ 7% VS 2022
▲ 16% VS 2022
▼ 42% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
Thesales-to-listing ratio forcondosin the Vancouver Region,at38% ,reflected aselers'm arket.
TOTALLISTINGS TOTALSALES
1,811 4,755
3,116 4,101
-50% -42% 16%
1,217 4,604
44% 49% 3%
Thecondom edian pricein M arch was$640,000,a1.6% increasefrom Februaryand 7% below M arch 2022. Theaveragesold pricewas$716,483,0.4% below last m onth;theaveragePSF salepricewas$839,down 0.5% tolastm onth.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$839 $716,483 $640,000 38%
$902 $773,954 $685,000 76%
$842 $719,242 $630,000 26%
-0.5% -0.4% 1.6%
-7% -7% -7%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAR 202 ● MAR 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
5,394
5,592
5,275
5,676
5,526
5,499
4,604
5,232
4,755
4,704
4,101
4,365
4,138
3,16
2,055
1,732
2,241
1,81
1,310
1,274
1,121
1,418
1,217
1,171
924
771
$685K $680K
$667K $650K $640K $645K
$620K $635K $625K $625K $630K $630K $640K
VancouverRegion REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
1200
43 3
4+ bdrms
1000
800
120
3 bdrms
54%
561
600
46%
45%
38%
400
26%
1,017
2 bdrms
16%
2,555
200
12%
5%
0
671
<$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
254 115 45%
1,171 634 54%
1,246 574 46%
713 273 38%
438 116 26%
294 47 16%
299 35 12%
340 17 5%
1,596
Copyright© April4,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofApril4,2023.Aldatafrom RealEstateBoardofGreaterVancouver andFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm 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 -MARCH 2023
SALES TO LISTINGSRATIO 24% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 4% VS 2022
▼ 9% VS 2022
▼ 6% VS 2022
▼ 43% VS 2022
Therew ere 3,077 detached listingsin the G reater Vancouverboard areain M arch,4% aboveFebruaryand 6% lowerthan M arch 2022. M arch detached hom esalesincreased by 43% m onth-over-m onth,to 735,and were43% below M arch 2022. Thesales-to-listing ratio fordetached in the G reater Vancouverboard area,at24% ,reflected aselers'm arket.
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
24% 735 3,077
1,299 3,279
-40% -43% -6%
17% 515 2,968
38% 43% 4%
Thedetachedm edian pricein M arch was$1,815,000,a 6% increasefrom Februaryand 9% below M arch 2022.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$2,277,538 $2,000,000 40%
Theaveragesold pricewas$2,180,678,6% abovelast m onth and down 4% toM arch 2022.
$2,051,909 $1,710,000
6% 6%
$2,180,678 $1,815,000
-4% -9%
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
4,268
4,499
4,148
3,954
4,375
4,187
3,598
1.82
3,741
1.74
3,279
2,968
3,077
1.65
1.59
1.56
2,928
2,801
1.43
1,299
578
490
735
956
374
301
796
657
530 524
532
515
$2.00M $1.99M $1.90M
$1.80M $1.74M
$1.70M $1.68M $1.72M $1.69M $1.70M $1.58M
$1.71M $1.82M
22-Mar
23-Feb
23-Mar
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
1200
1000
800
62%
600
41%
37%
400
32%
28%
27%
18%
16%
200
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+ 1,140 122 11%
S-L RATIO SALES INVENTORY
49 9 18%
37 12 32%
78 22 28%
109 68 62%
248 102 41%
607 225 37%
418 114 27%
391 61 16%
Copyright© April4,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofApril4,2023.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-MARCH 2023
SALES TO LISTINGSRATIO 41% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 9% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 9% VS 2022
▼ 13% VS 2022
▲ 14% VS 2022
▼ 43% VS 2022
Therewere903 townhom elistingsin theG reater Vancouverboard areain M arch,7% aboveFebruaryand 14% higherthan M arch 2022. M arch townhom esalesincreased by20% m onth-over-m onth,to 368,and were43% below M arch 2022. Thesales-to-listing ratio fortow nhom esin theG reater Vancouverboard area,at41% ,reflected aselers'm arket. Thetownhom em edian pricein M arch was$1,000,000,a 4% decreasefrom Februaryand 13% below M arch 2022. Theaveragesold pricewas$1,092,929,0.4% abovelast m onth;theaveragePSF salepricewas$745,up 0.1% to lastm onth.
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No. 81% 643 790
% Change
No. 36% 306 843
% Change
TOTALLISTINGS TOTALSALES
41% 368 903
-13% -50% -43% 14%
0.1% 0.4% -4% 12% 20% 7%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$745 $1,092,929 $1,000,000
$744 $1,088,632 $1,039,500
$821 $1,198,926 $1,150,000
-9% -9%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAR 202 ● MAR 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,191
1,161
1,053
1,177
1,155
1,17
1,096
903
963
643 790
843
816 822
421
51
453
306
368
290
271
186
245
232
226
120
$1.15M
$1.10M $1.03M
$1.04M $995K
$1.04M $1000K
$945K $950K $1.02M
$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
64
4+ bdrms
153
150
67%
64%
218
3 bdrms
100
490
51% 52%
27%
27%
77
23%
50
2 bdrms
16%
227
0
9
<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
11 3 27%
22 14 64%
110 74 67%
182 93 51%
171 89 52%
177 47 27%
155 36 23%
75 12 16%
Copyright© April4,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofApril4,2023.Aldatafrom RealEstateBoardofGreaterVancouver andFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm 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 -MARCH 2023
SALES TO LISTINGSRATIO 36% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 5% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 6% VS 2022
▼ 5% VS 2022
▲ 14% VS 2022
▼ 43% VS 2022
Therewere3,694 condolistingsin theG reater Vancouverboard areain M arch,5% aboveFebruaryand 14% higherthan M arch 2022. M arch condosalesincreased by42% m onth-over-m onth, to1,320,and were43% below M arch 2022.
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
Thesales-to-listing ratio forcondosin the G reater Vancouverboard area,at36% ,reflected aselers'm arket.
TOTALLISTINGS TOTALSALES
1,320 3,694
2,315 3,250
-50% -43% 14%
26% 932 3,531
0.6% 0.9% 4% 35% 42% 5%
Thecondom edian pricein M arch was$705,000,a4% increasefrom Februaryand 5% below M arch 2022. Theaveragesold pricewas$785,627,0.9% abovelast m onth;theaveragePSF salepricewas$919,up 0.6% to lastm onth.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$919 $785,627 $705,000 36%
$969 $834,299 $740,000 71%
$913 $778,940 $680,000
-5% -6% -5%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAR 202 ● MAR 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
4,160
4,038
4,358
4,298
4,223
4,193
3,996
3,694
3,707
3,250
3,531
3,348
3,163
2,315
1,604
1,326
1,692
1,320
1,005
997
1,062
932
892
848
707
573
$740K
$735K $717K $698K $694K $690K
$670K $677K $680K $685K $690K $680K $705K
REBGV
FVREB
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
1000
2
4+ bdrms
41
800
94
600
3 bdrms
57%
483
49%
400
38%
31%
28%
709
2 bdrms
200
16%
1,931
11%
5%
0
515
<$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
117 36 31%
601 340 57%
983 481 49%
668 253 38%
415 115 28%
286 46 16%
294 32 11%
330 17 5%
1,239
Copyright© April4,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofApril4,2023.Aldatafrom RealEstateBoardofGreaterVancouver andFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm 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 -MARCH 2023
SALES TO LISTINGSRATIO 30% SELLERS'M ARKET
▶ MARKETSUMMARY Therew ere 1,939 detached listingsin the FraserValey board areain M arch,5% aboveFebruaryand 13% lower than M arch 2022. M arch detached hom esalesincreased by 83% m onth-over-m onth,to 591,and were42% below M arch 2022. Thesales-to-listing ratio fordetached in the FraserValey board area,at30% ,reflected aselers'm arket.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 22% VS 2022
▼ 21% VS 2022
▼ 13% VS 2022
▼ 42% VS 2022
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change -22% -21% -33% -42% -13%
No.
% Change
TOTALLISTINGS TOTALSALES
30% 591 1,939
1,013 2,233
17% 323 1,848
74% 83% 5%
Thedetachedm edian pricein M arch was$1,348,000,a 3% increasefrom Februaryand 21% below M arch 2022.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$1,824,505 $1,699,900 45%
Theaveragesold pricewas$1,421,941,0.7% below last m onth and down 22% toM arch 2022.
$1,431,933 $1,311,000
-0.7% 3%
$1,421,941 $1,348,000
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
2,964
3,131
2,699
3,041
2,810
2,344
1.79
2,588
2,541
1.70
2,233
1.67
1.67
1.58
1,939
1.54
1,858
1,848
1,752
1,013
426
591
364
327
313
258
603
213
485
343
325
323
$1.70M $1.61M
$1.53M $1.48M
$1.42M $1.34M $1.32M $1.32M
$1.24M $1.29M $1.28M $1.31M $1.35M
22-Mar
23-Feb
23-Mar
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
500
91%
400
81%
65%
300
52%
48%
200
23%
17%
100
8%
5%
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
67 32 48%
23 21 91%
80 52 65%
156 126 81%
318 164 52%
500 116 23%
290 50 17%
182 15 8%
323 15 5%
Copyright© April4,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofApril4,2023.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-MARCH 2023
SALES TO LISTINGSRATIO 59% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere660 townhom elistingsin theFraserValey board areain M arch,4% below Februaryand 29% lower than M arch 2022. M arch townhom esalesincreased by62% m onth-over-m onth,to 392,and were37% below M arch 2022. Thesales-to-listing ratio fortow nhom esin theFraser Valey board area,at59% ,reflected aselers'm arket. Thetownhom em edian pricein M arch was$807,500,a 5% increasefrom Februaryand 15% below M arch 2022. Theaveragesold pricewas$812,970,5% abovelast m onth;theaveragePSF salepricewas$512,up 1.5% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 16% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 16% VS 2022
▼ 15% VS 2022
▼ 29% VS 2022
▼ 37% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No. 67% 621 924
% Change -16% -16% -15% -12% -37% -29%
No. 35% 242 684
% Change
TOTALLISTINGS TOTALSALES
59% 392 660
1.5% 5% 5% 68% 62% -4%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$512 $812,970 $807,500
$504 $775,908 $770,000
$612 $967,839 $949,900
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAR 202 ● MAR 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,307
1,248
1,330
1,17
1,156
945
1,084
924
1,001
684
621
751
660
684
361
392
283
245
391
360
242
234
236
189 154
169
$950K $913K
$870K $855K $843K
$790K $780K $770K $798K $745K $745K
$770K $808K
FVREB
REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
300
96
4+ bdrms
250
180
79%
200
196
63%
3 bdrms
53% 53%
346
150
33%
31%
100
98
2 bdrms
15%
130
50
0
4 2
<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
16 5 31%
49 31 63%
192 151 79%
292 155 53%
85 45 53%
20 3 15%
6 2 33%
Copyright© April4,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofApril4,2023.Aldatafrom RealEstateBoardofGreaterVancouver andFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm 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 -MARCH 2023
SALES TO LISTINGSRATIO 46% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere1,061 condolistingsin theFraserValey board areain M arch,1.1% below Februaryand 25% higherthan M arch 2022. M arch condosalesincreased by72% m onth-over-m onth, to491,and were39% below M arch 2022.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 12% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 12% VS 2022
▼ 11% VS 2022
▲ 25% VS 2022
▼ 39% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No. 94% 801 851
% Change
No.
% Change
Thesales-to-listing ratio forcondosin the FraserValey board area,at46% ,reflected aselers'm arket.
TOTALLISTINGS TOTALSALES
46% 491 1,061
-12% -12% -11% -51% -39% 25%
27% 285 1,073
2% 1.3% 2% 74% 72% -1.1%
Thecondom edian pricein M arch was$510,000,a2% increasefrom Februaryand 11% below M arch 2022. Theaveragesold pricewas$530,597,1.3% abovelast m onth;theaveragePSF salepricewas$623,up 2.0% to lastm onth.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$623 $530,597 $510,000
$611 $524,017 $499,000
$708 $599,548 $570,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAR 202 ● MAR 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,237
1,234
1,318
1,306 1,303
1,294
1,236
1,073
1,061
851
1,017
997
975
801
491
406
549
451
273
356
305
285
279
277
217
198
$570K $566K $548K $540K
$535K $515K $500K $505K
$490K $485K $497K $499K $510K
FVREB
REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
600
2 1
4+ bdrms
500
400
26
60%
58%
3 bdrms
300
52%
78
44%
35%
200
308
2 bdrms
624
100
13%
4%
0
156
<$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
137 79 58%
570 294 52%
263 93 35%
45 20 44%
23 1 4%
8 1 13%
5 3 60%
10 0 n/a
357
Copyright© April4,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofApril4,2023.Aldatafrom RealEstateBoardofGreaterVancouver andFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm 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 -MARCH 2023
SALES TO LISTINGSRATIO 44% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere79 detachedlistingsin BurnabyN orth in M arch,7% below Februaryand 9% lowerthan M arch 2022. M arch detached hom esalesincreased by 35% m onth-over-m onth,to 35,and were13% below M arch 2022. Thesales-to-listing ratio fordetached in Burnaby N orth, at44% ,reflected aselers'm arket. Thedetachedm edian pricein M arch was$1,890,000,a 1.8% decreasefrom Februaryand 18% below M arch 2022. Theaveragesold pricewas$2,006,763,2% below last m onth and down 15% toM arch 2022.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 15% VS 2022
▼ 18% VS 2022
▼ 9% VS 2022
▼ 13% VS 2022
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
35 79
40 87
-15% -18% -4% -13% -9%
26 85
45% 35% -7%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$2,006,763 $1,890,000 44%
$2,056,436 $1,925,000 31%
$2,360,801 $2,295,500 46%
-2% -1.8%
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
131
122
18
15
2.42
109
92
86
85
2.19
87
95
93
2.14
79
85
37
40
30
28
35
26
25
24
18
1.33
1.27
1.25
22
19
16
10
$2.30M
$2.13M $2.20M $2.04M $2.08M
$2.04M $1.96M
$1.96M $1.93M $1.89M
$1.79M
$1.75M $1.71M
22-Mar
23-Feb
23-Mar
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
20
100%+
76%
15
10
37%
22%
5
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+
S-L RATIO SALES INVENTORY
0 1 n/a
2 5 250%
21 16 76%
19 7 37%
19 2 11%
18 4 22%
Copyright© April4,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofApril4,2023.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-MARCH 2023
SALES TO LISTINGSRATIO 45% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere33 townhom elistingsin BurnabyN orth in M arch,32% aboveFebruaryand 106% higherthan M arch 2022. M arch townhom esalesincreased by36% m onth-over-m onth,to 15,and were55% below M arch 2022. Thesales-to-listing ratio fortow nhom esin Burnaby N orth,at45% ,reflected aselers'm arket. Thetownhom em edian pricein M arch was$885,000,a 0.6% increasefrom Februaryand 7% below M arch 2022. Theaveragesold pricewas$898,960,5% abovelast m onth;theaveragePSF salepricewas$655,up 7% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 13% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 4% VS 2022
▼ 7% VS 2022
▲ 106% VS 2022
▼ 55% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
15 33
33 16
-13% -4% -7% -78% -55% 106%
11 25
7% 5% 0.6% 3% 36% 32%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$655 $898,960 $885,000 45%
$748 $936,237 $950,000 206%
$612 $859,164 $880,000 44%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAR 202 ● MAR 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
45
38
35
39
33
33
36
29
31
23
25 25 25
17
17
15
15
12
16
12
12
1
8
8
7
5
$969K
$950K $989K $978K
$875K $868K
$880K $885K
$860K
$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
10
4
100%+
4+ bdrms
3
8
7
60%
6
3 bdrms
25
50%
4
33%
4 4
22%
2 bdrms
2
0
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
1
S-L RATIO SALES INVENTORY
2 3 150%
9 2 22%
10 5 50%
6 2 33%
5 3 60%
1 0 n/a
Copyright© April4,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofApril4,2023.Aldatafrom RealEstateBoardofGreaterVancouver andFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm 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 -MARCH 2023
SALES TO LISTINGSRATIO 45% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere251 condolistingsin BurnabyN orth in M arch,2% aboveFebruaryand 26% higherthan M arch 2022. M arch condosalesincreased by22% m onth-over-m onth, to112,and were38% below M arch 2022.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 1.7% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 5% VS 2022
▼ 6% VS 2022
▲ 26% VS 2022
▼ 38% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No. 90% 180 200
% Change
No.
% Change
Thesales-to-listing ratio forcondosin Burnaby N orth,at 45% ,reflected aselers'm arket.
TOTALLISTINGS TOTALSALES
45% 112 251
-1.7% -5% -6% -50% -38% 26%
$874 $688,765 $660,500 38% 92 245
19% 22% 2%
Thecondom edian pricein M arch was$707,500,a7% increasefrom Februaryand 6% below M arch 2022. Theaveragesold pricewas$743,763,8% abovelast m onth;theaveragePSF salepricewas$929,up 6% to lastm onth.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$929 $743,763 $707,500
6% 8% 7%
$945 $783,467 $750,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● MAR 202 ● MAR 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
286
287
309
268
264
300
301
253
251
257
245
200
218
180
124
92
12
88
82
12
96
50
80
58
52
44
$750K $729K
$699K $650K $671K $676K $651K
$692K $704K $667K $707K $661K $708K
BURNABYNORTH REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
70
100%
4+ bdrms
60
50
69%
6
62%
40
3 bdrms
38
30
41%
27%
67
20
2 bdrms
15%
151
10
0
39
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
1 1 100%
42 29 69%
71 44 62%
64 26 41%
37 10 27%
13 2 15%
16 0 n/a
7 0 n/a
62
Copyright© April4,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofApril4,2023.Aldatafrom RealEstateBoardofGreaterVancouver andFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm 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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