the rennie advance - March 2022

highlights • ThenumberofmonthlyMLSsalesintheVancouverRegionsurpasedthe5,000-marklastmonth (5,199salesinFebruary2022,tobeprecise)forthefirsttimesinceNovember2021.Thisalso representedthe3rd-mostsalesinaFebruaryinthepastdecade.Andwhilelastmonth’ssaleswere down19%fromtheFebruary2021’snear-recordcount,theywereup47%versusJanuary2022. • Onamonth-over-monthbasis,salesincreasedacrosalhometypes.Townhomesexperiencedthe greatestincrease,at60%,folowedbydetachedhomesandcondosat53%and37%,respectively. ComparedtoFebruary2021,salesacrosalhometypesdeclined,withtownhomesdownthe most,at34%,folowedbydetachedhomes(down27%)andthencondos(down2%). • Themarketmomentumthatemergedinlate-JanuarycontinuedintoFebruary,withdailysales averaging240inthefirsthalfofthemonthbeforeincreasingtoadailyaverageof310salesinthe secondhalfofFebruary.

THERENNIEADVANCE sales

FEBRUARY 202

4,000

-27% vsFeb2021

3,500

3,000

2,500

1,768

2,000

1,688 10 yrFebAvg

1,500

1,000

DETACHED sales

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 0 500

+5% vs10yrFebAvg

﹍ 10 yrFebruaryAverage

● February

-34% vsFeb2021

1,000 1,200 1,400 1,600

928

743 10 yrFebAvg

200 400 600 800

TOWNHOME sales

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 0

+25% vs10yrFebAvg

﹍ 10 yrFebruaryAverage

● February

3,500

-2% vsFeb2021

3,000

2,385

2,500

2,000

1,507 10 yrFebAvg

1,500

1,000

CONDO sales

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 0 500

+58% vs10yrFebAvg

﹍ 10 yrFebruaryAverage

● February

Copyright©March1,202renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofMarch1,202.AldatafromRealEstateBoardof GreaterVancouverandFraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipient oftheinformationshouldtakestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained fromarenieandasociatesadvisor.Alinformationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromrenniegroupofcompanies.E.&O.E.

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