the rennie review

DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION

published August 2019

table of contents

02 INTRO

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

03 WHAT YOU NEED TO KNOW

04 FEATURED LISTINGS

NEIGHBOURHOOD PROFILES

Greater Vancouver Board Area

08 Burnaby East 11 Burnaby North 14 Burnaby South 17 Coquitlam 20 Fraser Valley Board Area 23 Langley 26 North Vancouver 29 Richmond 32 Surrey

Andrew Ramlo VP Intelligence aramlo@rennie.com

Ryan Berlin Senior Economist rberlin@rennie.com

35 Vancouver East 38 Vancouver West 41 West Vancouver

43 CURRENT PROJECTS

CurrentasofAugust7,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The informationsetoutherein (the“Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

July’s demand bump supported by strong economic news . It may be only one month of data, but the July increase in residential MLS sales in the Vancouver region serves notice that the contractionary phase of the market cycle may be ending, with an expansion--when it comes--being guided by local economic conditions.

To the degree that the Bank of Canada follows suit, variable-rate mortgages would become cheaper. Furthermore, 5-year Government of Canada bond yields have halved since November (falling to 1.23%), bringing with them lower fixed-rates mortgages. While key local economic and broader financial market indicators are almost unambiguously positive at the moment, we would be remiss to not mention that despite the recent bounce-back in demand, month-over-month prices continued to sag, with the overall benchmark price in July falling by 0.3% compared to June. As price changes are a function of the fluid dynamics of supply and demand--therefore lagging adjustments in underlying market conditions--we shouldn’t expect much upwards pressure to be put on prices in the-short-term, even if previously-sidelined buyers continue to re-enter the fray. Insofar as market balance is concerned, this is certainly good news.

The biggest housing market news story from July--at least for the combined Greater Vancouver and Fraser Valley real estate board areas --was the 19% jump in MLS sales compared to the same month a year ago. Those following housing trends know that this is the first year-over-year increase in sales in 18 months and the largest increase since November 2017. Of course, one data point does not a trend make and, as summer tends to be less of a bellwether for housing directions than the spring or fall, a more lucid judgment of the market can be made once we avail ourselves of the autumn data. Having said this, it is perhaps more than simply noteworthy that the labour and financial market conditions underpinning our regional housing market remain strong. To put a finer point on it, these

conditions are creating an increasingly sound foundation for the housing market as it transitions from its contractionary phase into an expansionary one (at least in terms of sales counts). For one, Metro Vancouver currently has an unemployment rate of 4.0%, the lowest among all large metros in Canada. This reflects stability in the region’s economic environment, with the local economic outlook remaining positive over the medium-term. In addition to this, the landscape of borrowing costs continues to evolve in a way that supports existing mortgage- holders and would-be buyers. While the Bank of Canada continues to maintain its trend-setting rate at 1.75%, the US Federal Reserve recently cut its target rate by 25 basis points--its first reduction in a decade.

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House $3,598,000 | KITSILANO 3505 W 12th Ave.

Jameson House $3,588,000 | DOWNTOWN Sph3504-838 W Hastings St. 2 Bed, 1,928 SF Christopher Boyd PREC* 604.351.0533

House $3,498,000 | KITSILANO

3278 W 15th Ave. 5 Bed, 3,066 SF Charlie KIm PREC* 604.767.1531

4 Bed, 2,185 SF Vesna Todic 604.728.6331

House $2,498,000 | DUNBAR 3924 W 24th Ave.

Olympic Village $2,399,000 | FALSE CREEK 307-1616 Columbia St.

Concordia I $1,468,000 | YALETOWN 10B-199 Drake St. 2 Bed, 1,150 SF Flora Shi 604.720.6808 Westpointe $1,048,800 | KITSILANO 215-3250 W Broadway 2 Bed, 957 SF Deanna Lythgo PREC* 778.840.3170 House $2,299,000 | EAST VAN 3438 St. George St. 3 Bed, 1,801 SF Salina Kai PREC* 604.773.7013

4 Bed, 2,014 SF Howard Don 604.786.9998

2 Bed, 1,344 SF Nagib Karim 604.999.5887

Trump Tower $2,198,000 | DOWNTOWN 3302-1151 W Georgia St. 2 Bed, 1,183 SF

889 Homer $1,049,000 | DOWNTOWN 1102-889 Homer St. 2 Bed, 1,057 SF Danny Chow PREC* 604.765.2469 Arbutus Ridge $1,998,000 | KITSILANO 313-2118 W 15th Ave. 2 Bed, 1,389 SF Brandan Price PREC* 604.765.9555

Simon Lai PREC* 778.881.3603

Harbour Cove $1,099,000 | KITSILANO G02-1470 Pennyfarthing Dr. 2 Bed, 1,280 SF Mike Ross 778.987.8874

Koret Lofts $779,000 | DOWNTOWN 415-55 E Cordova St. 1 Bed, 920 SF

Jameson House $988,800 | DOWNTOWN 1801-838 W Hastings St.

Tribeca Lofts $879,900 | DOWNTOWN 405-988 Richards St. 1 Bed, 733 SF

1 Bed, 899 SF Matt Stone 604.782.2614

Derek Kai PREC* 604.868.1666

Ray Peake PREC* 604.720.8810

The Dawson $749,900 | BURNABY 311-4468 Dawson St. 2 Bed, 1,018 SF Disa Lim 604.880.8604

The Monaco $749,900 | NORTH VAN 401-408 Lonsdale Ave. 2 Bed, 1,001 SF Jenna Van Alstine 778.558.3355

The Dawson $675,000 | BURNABY 204-4468 Dawson St. 2 Bed, 864 SF Reggie Tanzola PREC* 778.917.6889

greater vancouver board area

DETACHED - JULY 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 11 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

7 % DOWN

8 % DOWN

31 % UP

BALANCED 13 %

Detached listings in the REBGV decreased to 6,380 in July, 5% below June and 8% lower vs July 2018. Detached sales, at 852, increased 12% compared to June and were 31% higher than in July 2018. The sales-to-listings ratio increased to 13%, as the REBGV detached market transitioned to balanced market territory. The detached benchmark price in July was $1.42M, 0.5% lower month-over-month and an 11% decline year-over-year. The average sold price was $1.50M, decreasing 1.0% from the previous month and a 7% drop from the previous year.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

6,380

6,727

-5% 12% 18%

6,922

-8% 31% 42%

TOTAL SALES

852 13%

760 11%

649

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

$1,417,000 $1,423,500 -0.5% $1,583,900 -11% $1,494,694 $1,510,350 -1.0% $1,609,396 -7%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.58

$1.54

$1.50

$1.46

2.21

$1.44

$1.42

2.17

$1.42

1.87

6,916

1.84

6,922

6,816

6,380

6,361

5,958

5,341

916

852

649

532

520

512

343

Jul-18

Jun-19

Jul-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

SELLER'S MARKET

BALANCED

BUYER'S MARKET

. . . 0 0 0 0 0

S-L RATIO SALES INVENTORY

greater vancouver board area

TOWNHOME - JULY 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 9 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

10 % DOWN

11 % DOWN

30 % UP

29 % UP

SELLER’S 21 %

The number of townhome listings in the REBGV dipped to 1,958 in July, 7% below June but 30% higher year-over-year. Townhome sales in July, at 404, were up 18% vs June and were 29% above last year. The sales-to-listings ratio increased to 21% as the REBGV townhome market became favourable to sellers. The townhome benchmark price in July was $770,000, 0.6% below June and 9% lower than in July 2018. The average sold price was $794,520, with an average PSF sales price of $556 (0.9% higher but 3% lower, respectively, vs June).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

1,958

2,098

-7% 18% 27%

1,508

30% 29%

TOTAL SALES

404 21%

341 16%

314 21%

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

-0.9%

$770,000 $774,700 $794,520 $787,525

-0.6% $846,400 0.9% $884,624

-9%

-10% -11%

$556

$574

-3%

$623

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$846,400 $826,700 $808,000 $787,800 $772,500 $779,400 $770,000

2,083

1,958

1,742

1,657

1,655

1,508

1,458

412

404

314

280

256

251

177

REBGV

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

337

240

3 bdrms

1,083

118

<3 bdrms

. . . . 0 0 0 0

538

S-L RATIO SALES INVENTORY

greater vancouver board area

CONDO - JULY 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 9 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

7 % DOWN

30 % UP

15 % UP

SELLER’S 22 %

The number of condo listings in the REBGV decreased to 5,603 in July, 8% below June but 30% above July 2018. At 1,245, condo sales were 32% higher month-over- month and 15% higher year-over-year. The sales-to-listings ratio increased to 22%, as the REBGV condo market transitioned to seller’s market territory. The condo benchmark price in July was $653,200, virtually unchanged from June and 9% lower than in July 2018. The average sold price was $656,772 (2% above June) with an average PSF sales price of $764 (up from June by 2%).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

5,603 1,245

6,097

-8% 32% 43%

4,303 1,081

30% 15% -12%

TOTAL SALES

946 16%

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

22%

25%

$653,200 $654,700 $656,772 $643,458

-0.2% $716,000 2% $709,235

-9% -7% -7%

$764

$749

$820

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$716,000 $696,500 $677,500 $670,200 $667,500 $664,200 $653,200

6,196

5,603

5,258

4,938

4,834

4,342

4,303

1,245

1,081

872

815

814

559

REBGV

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

566

652

2 bdrms

3,300

509

<2 bdrms

. . . . 0 0 0 0

1,737

S-L RATIO SALES INVENTORY

DETACHED - JULY 2019 burnaby east

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 11 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

26 % DOWN

0.0 %

6 % DOWN

10 %

The number of detached listings in Burnaby East in July, at 60, was 1.6% lower vs the previous month and 26% below July 2018. There were 6 detached sales in July, 1 more than the previous month and unchanged vs July 2018. The sales-to-listings ratio increased to 10%, as Burnaby East’s detached segment remained a buy- er’s market. The benchmark price for detached homes in Burnaby East was $1.18M—virtually unchanged from last month but 11% lower year-over-year. The average sold price in Burnaby East in July was $1.39M, down 4% vs June and 6% below July 2018.

VS 2018

BUYER’S

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

-1.6%

-26% 0.0% 35%

TOTAL SALES

20% 22%

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

10%

$1,181,900 $1,180,600 0.1% $1,324,600 -11%

$1,385,417 $1,439,600

-4% $1,469,913

-6%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.32

$1.25

1.83

1.82

$1.21

1.81

$1.18

$1.17

$1.16

$1.15

1.68

1.64

1.60

Jul-18

Jun-19

Jul-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

SELLER'S MARKET

BALANCED

BUYER'S MARKET

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

S-L RATIO SALES INVENTORY

TOWNHOME - JULY 2019 burnaby east

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 12 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

10 % DOWN

3 % UP

67 % UP

0.0 %

BUYER’S 9 %

The number of townhome listings in Burnaby East increased to 45 in July, 13% above June and 67% higher than in July 2018. Townhome sales, at 4, were 2 below last month and unchanged vs last year. The sales-to-listings ratio decreased to 9%, as Burnaby East’s townhome market transitioned to buyer’s market territory. The benchmark price in July was $648,400, 0.6% above the previous month but 12% lower vs July 2018. The average sold price was $622,250 (8% lower than last month) with an average PSF sales price of $612 (6% above last month).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

13% -33% -41%

67% 0.0% -40% -12% -10%

TOTAL SALES

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

15%

$648,400 $644,300 $622,250 $678,667

0.6% $733,400 -8% $692,500

$612

$578

$593

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$733,400 $718,800 $684,600 $680,300 $671,400 $656,500 $648,400

BURNABY EAST

REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

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

S-L RATIO SALES INVENTORY

CONDO - JULY 2019 burnaby east

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 8 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

11 % DOWN

70 % DOWN

12 % DOWN

21 % UP

BUYER’S 9 %

The number of condo listings in Burnaby East in July dipped 3% month-over-month (to 34) but jumped 21% year-over-year. At 3, condo sales were 1 lower month-over-month and 7 below July 2018. The sales-to-listings ratio decreased to 9% in July as Burnaby East’s condo market favoured buyers. The condo benchmark price in July was $721,200, 2% below last month and 8% lower year-over-year. The average sold price for condos decreased 7% month-over-month (to $522,333) while the average PSF sales price fell 7% (to $701).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

-3%

28 10

21% -70% -75% -11% -12% -8%

TOTAL SALES

-25% -23%

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

11%

36%

$721,200 $736,100 $522,333 $562,000

-2% $787,700 -7% $585,128

$701

$755

-7%

$797

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$787,700 $767,600 $762,400 $743,900 $722,500 $748,100 $721,200

BURNABY EAST

REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

2 bdrms

<2 bdrms

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

S-L RATIO SALES INVENTORY

DETACHED - JULY 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 12 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

5 % DOWN

10 % DOWN

105 % UP

BALANCED 17 %

The number of detached listings in Burnaby North in July, at 229, was 3% lower month-over-month and 5% lower year-over-year. With 39 in July, detached sales were up by 9 month- over-month and 20 above last year. The sales-to-listings ratio rose to 17%, as Burnaby North’s detached market remained balanced. The benchmark price in July was $1.37M, 1.9% below June 2019 and 12% lower than in July 2018. The average sold price was $1.51M, down 2% from the previous month and 10% below July 2018.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 236

% Change

No. 240

% Change

TOTAL LISTINGS

229

-3% 30% 34%

-5%

TOTAL SALES

19 8%

105% 115%

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

17%

13%

$1,373,400 $1,399,800 -1.9% $1,556,000 -12%

$1,512,362 $1,542,830

-2% $1,674,929 -10%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.56

$1.50

$1.47

2.35

$1.42

$1.41

2.30

$1.37

2.25

1.99

248

1.93

1.90

240

230

229

206

179

Jul-18

Jun-19

Jul-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

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

TOWNHOME - JULY 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 8 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

7 % DOWN

5 % UP

35 % UP

21 % UP

SELLER’S 23 %

The number of townhome listings in Burnaby North decreased 3% from last month, settling at 73, but was 35% above July 2018. Townhome sales, at 17, were up by 1 vs last month and 3 above July 2018. The sales-to-listings ratio increased to 23% in July, as Burnaby North’s townhome segment remained a seller’s market. The benchmark price in July was $723,100, 0.3% below June and 8% lower vs July 2018. The average sold price was $680,729 in July, (increasing 7% vs June) while the average PSF sales price was $534 (increasing 1.3%).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

73 17

75 16

-3%

54 14

35% 21% -10%

TOTAL SALES

6% 9%

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

23%

21%

26%

$723,100 $725,500 $680,729 $637,444

-0.3% $782,800 7% $651,164

-8%

$534

$527

1.3%

$575

-7%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$782,800 $768,600 $742,700 $723,900 $726,000 $730,300 $723,100

BURNABY NORTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

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

S-L RATIO SALES INVENTORY

CONDO - JULY 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 8 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

8 % DOWN

0.6 % DOWN

47 % UP

35 % UP

SELLER’S 25 %

There were 291 condo listings in Burnaby North in July, 9% below June but 47% higher than in July 2018. July condo sales increased by 35% month-over- month and year-over-year. The sales-to-listings ratio for condos in Burnaby North increased to 25%, transitioning to a seller’s market. The condo benchmark price in July was $609,500, virtually unchanged from June and 8% lower than in July 2018. The average sold price was $568,762, up 5% from last month; the average PSF sales price was $701, up 8% from last month.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 320

% Change

No. 198

% Change

TOTAL LISTINGS

291

-9% 35% 49%

47% 35% -8% -8% -8%

TOTAL SALES

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

25%

17%

27%

$609,500 $607,800 $568,762 $541,683

0.3% $661,000 5% $616,506

$701

$650

$705

-0.6%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$661,000 $644,600 $632,200 $606,400 $602,900 $615,100 $609,500

324

291

263

261

236

235

198

BURNABY NORTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

3+ bdrms

SELLER'S MARKET

BALANCED

2 bdrms

BUYER'S MARKET

198

<2 bdrms

. . . . 0 0 0 0 QD QD QD

S-L RATIO SALES INVENTORY

DETACHED - JULY 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 12 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

6 % DOWN

23 % DOWN

52 % UP

BALANCED 15 %

There were 212 detached listings in the Burnaby South market area in July, 11% below last month and 23% lower vs July 2018. Detached sales rose by 6, to 32, between June and July, and were 11 higher year-over-year. The sales-to-listings ratio rose to 15%, as Burnaby South’s detached market transitioned to balanced market territory. The benchmark price in July was $1.47M, 1.3% below the previous month and a 12% decline vs last year. The average sold price for detached homes was $1.65M, 6% lower month-over-month and year-over-year.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 237

% Change

No. 276

% Change

TOTAL LISTINGS

212

-11% 23% 38%

-23% 52% 98%

TOTAL SALES

21 8%

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

15%

11%

$1,477,300 $1,496,100 -1.3% $1,685,200 -12%

$1,654,781 $1,769,318

-6% $1,763,876

-6%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.69

$1.61

$1.59

$1.55

2.30

$1.53

2.26

$1.51

2.25

$1.48

1.99

1.96

1.94

276

246

242

228

213

212

175

Jul-18

Jun-19

Jul-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

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

TOWNHOME - JULY 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 10 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

22 % DOWN

12 % DOWN

52 % UP

267 % UP

SELLER’S 23 %

Townhome listings in the Burnaby South market area in July (at 96) were down 13% from last month but 52% above last year. The 22 townhome sales were 4 above June and 16 more than in July 2018. The sales-to-listings ratio increased to 23%, as Burnaby South’s townhome segment transitioned to a seller’s market. The benchmark price in July was $760,600, virtually unchanged from June and 10% lower year-over-year. The average sold price was $718,011 (down 0.7% from June) with an average PSF sales price of $564 (7% below June).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 110

% Change

No.

% Change

TOTAL LISTINGS

96 22

-13% 22% 40%

52%

TOTAL SALES

267% 141% -10% -12% -22%

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

23%

16%

10%

$760,600 $762,600 $718,011 $723,252

-0.3% $846,500 -0.7% $811,333

$564

$605

-7%

$727

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$846,500 $822,700 $798,300 $792,800 $779,500 $781,500 $760,600

102

BURNABY SOUTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

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

S-L RATIO SALES INVENTORY

CONDO - JULY 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 11 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

0.6 % DOWN

0.8 % UP

43 % UP

91 % UP

SELLER’S 21 %

The number of condo listings in Burnaby South, at 415, decreased 7% month-over-month but jumped 43% vs last year. July’s condo sales, at 88, were 24% above last month and 91% higher than last year. The sales-to-listings ratio rose to 21% in July, as Burnaby South’s condo segment transitioned to seller’s market territory. The condo benchmark price in July was $653,500, 1.9% below June and an 11% decrease from July 2018. The average sold price was $654,405 (11% higher than in June) with an average PSF sales price of $759 (1.9% above June).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 447

% Change

No. 290

% Change

TOTAL LISTINGS

415

-7% 24% 34%

43% 91% 34% -11% -0.6% 0.8%

TOTAL SALES

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

21%

16%

$653,500 $666,200 $654,405 $587,461

-1.9% $731,700 11% $658,580

$759

$745

1.9%

$753

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$731,700 $709,800 $689,900 $687,900 $681,400 $676,400 $653,500

460

415

401

368

364

313

290

BURNABY SOUTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

3+ bdrms

SELLER'S MARKET

BALANCED

BUYER'S MARKET

2 bdrms

271

<2 bdrms

. . . . 0 0 0 0 QD QD

100

S-L RATIO SALES INVENTORY

coquitlam

DETACHED - JULY 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 11 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

9 % DOWN

6 % DOWN

76 % UP

BALANCED 16 %

The number of detached listings in Coquitlam fell to 538 in July, 7% below June and 6% lower year-over-year. The 86 detached sales in July represented an increase of 8% from June and a 76% jump vs July of last year. Coquitlam’s sales-to-listings ratio increased to 16% as the detached segment remained in balanced market territory. The benchmark price in July was $1.17M, virtu- ally unchanged from June and an 11% decrease year-over-year. The average sold price was $1.25M in July, down 1.1% from June and 9% below July 2018.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 578

% Change

No. 575

% Change

TOTAL LISTINGS

538

-7%

-6% 76% 88%

TOTAL SALES

49 9%

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

16%

14%

15%

$1,169,300 $1,166,100 0.3% $1,309,400 -11% $1,251,560 $1,265,065 -1.1% $1,379,129 -9%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.31

$1.29

$1.23

$1.20

$1.17

2.39

$1.16

2.27

2.26

582

575

571

538

509

1.84

487

1.79

1.77

414

Jul-18

Jun-19

Jul-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

SELLER'S MARKET

BALANCED

BUYER'S MARKET

. . . 0 0 0 0 0 QD

S-L RATIO SALES INVENTORY

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the rennie review - August 2019