highlights • Despite the economic turmoil and broader uncertainty caused by the response to the spread of COVID-19, MLS sales in the Greater Vancouver board area in March 2020 were up 47% on a year-over-year basis. Detached sales increased by 62%, townhomes by 46%, and condos by 36%. This was the 9 th consecutive month of double-digit year- over-year increases in sales. • The March sales count was also up by 18% versus February, and although this was below the past-decade average February-to-March change of 25%, increases were seen for all home types: 26% for detached, 20% for townhomes, and 11% for condos. • Sales during the first half of March 2020 accounted for 54% of total sales in the month, while the second half accounted for 46%. Given the context of COVID-19, this was notably similar to the split seen in March 2019 (48%/52%) and March 2018 (51%/49%).
sales THE RENNIE ADVANCE
MARCH 2020
2,500
March
vs 10yr Mar Avg 32%
2,000
vs Mar 2019 62%
1,500
10yr Mar Avg 1,267
1,000
862
DETACHED sales
500
0
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
0 100 200 300 400 500 600 700 800
March
vs 10yr Mar Avg 13%
10yr Mar Avg 469
409
TOWNHOME sales
vs Mar 2019 46%
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2,500
March
vs 10yr Mar Avg 16%
2,000
1,500
10yr Mar Avg 1,411
1,184
1,000
vs Mar 2019 36%
CONDO sales
500
0
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Copyright © 2020 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 2, 2020. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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.
Made with FlippingBook - professional solution for displaying marketing and sales documents online