highlights • Inventory in July 2021 was significantly constrained, with the 14,398 listings representing the second-fewest in any July in the past 35 years. Compared to past periods, inventory was down across the board: by 26% versus July 2020, by 34% versus the past-decade July average, and by 13% versus June 2021. The month-over-month decline is particularly notable, with inventory typically rising by 1.2% between June and July. • Listings were down for all home types. The townhome segment of the market is most constrained, with listings down 42% versus last year, by 44% versus the long-run average, and by 16% versus last month. • The sales-to-listings (S-L) ratio continues to trend in seller’s market territory, with July 2021 recording an S-L ratio of 36%. For detached homes the S-L ratio was 28%, for townhomes 58%, and for condos 40%.
total listings THE RENNIE ADVANCE
JULY
10,000 12,000 14,000 16,000
10yr Jul Avg 10,897
0 2,000 4,000 6,000 8,000
vs 10yr Jul Avg 38%
6,795
DETACHED listings
vs Jul 2020 16%
July
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500
10yr Jul Avg 3,090
vs 10yr Jul Avg 44%
1,727
TOWNHOME listings
July
vs Jul 2020 42%
0 500
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
12,000
10,000
10yr Jul Avg 7,419
8,000
6,000
5,614
vs 10yr Jul Avg 24%
4,000
vs Jul 2020 28%
CONDO listings
July
2,000
0
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Copyright © 2021 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 August 2, 2021. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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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