VANCOUVER REGION THE RENNIE ADVANCE inventory
highlights • There were 12,488 active MLS listings last month, which was a 20% decrease from November, though less than the typical 26% contraction. Total listings finished the year 8% above the past-decade December average (of 11,537). • On a month-over-month basis, inventory was lower for all home types: detached homes by 19%, townhomes by 23%, and condos by 21%. Relative to the past 10-year average, detached and condo inventory were higher by 5% and 14%, respectively, while townhome inventory was 3% lower. • The overall market remained in balanced territory in December, with 5.9 months of inventory (MOI). Notably, the condo and townhome segments favoured sellers, with MOIs of 4.2 and 4.8 respectively, while the detached market favoured buyers, with an MOI of 8.5.
DECEMBER 2023
14,000
+ 19% vs Dec 2022
12,000
10,000
8,000
5,434 10 yr Dec Avg
6,000
5,697
4,000
DETACHED inventory
0 2,000
+ 5% vs 10yr Dec Avg
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
﹍ 10 yr December Average
● December
1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500
- 1% vs Dec 2022
1,597 10 yr Dec Avg
1,547
TOWNHOME inventory
0 500
- 3% vs 10yr Dec Avg
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
﹍ 10 yr December Average
● December
12,000
+ 15% vs Dec 2022
10,000
8,000
6,000
4,196 10 yr Dec Avg
4,000
4,771
CONDO inventory
2,000
0
+ 14% vs 10yr Dec Avg
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
﹍ 10 yr December Average
● December
Copyright © January 2, 2024 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 2, 2024. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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.
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