the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION
published October 2020
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
05 08 11 14 17 20 23 26 29 32 35 38 41 44 46
Vancouver Region
Greater Vancouver Board Area Fraser Valley Board Area
Burnaby North Burnaby South
Ryan Berlin DIRECTOR OF INTELLIGENCE & SENIOR ECONOMIST rberlin@rennie.com
Bowen Behan Pausey BUSINESS DATA ANALYST, HOUSING bbehan@rennie.com
Coquitlam
Langley
North Vancouver
Richmond Squamish
Surrey
Vancouver East Vancouver West West Vancouver
Vancouver Region Maps
49 CURRENT PROJECTS
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 October 5, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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. 2
home sales hit an all-time September high
Home buyers remained very active throughout the Vancouver Region last month even as the school year got underway and concerns emerged around the impact of the pandemic’s second wave. Demand has been strong for all home types.
since the early-1970s. In a nutshell, that provided a real boost to the housing market.) Inventory has continued to expand at a steady, but slowing, pace, resulting in year- over-year median price increases (of 11% in the Greater Vancouver board area and 17% in the Fraser Valley board area) that have not been seen since early-2018. Continued low interest rates and the ongoing job recovery (uncertain as its trajectory may be) have created fertile ground for continued housing market activity. Add to this the fact that only 3,180 of the 11,001 unrealized sales (i.e. pent-up demand) from January through June have been realized in the past three months, and it is conceivable that sales counts in 2020’s remaining months could give September a run for its money.
As real a trend as this may be, the condo market has nonetheless been very active: the 2,080 condo sales in September were the most in any month since October 2017, were up 36% year-over-year, and were 53% higher than the past 10-year average. As Oscar Wilde might have said were he a current- day housing analyst, the death of the condo market has been greatly exaggerated. Turning back to the bigger sales picture, September’s total sales count was only 2% below the all-time high for the Greater Vancouver board area (also achieved in 1992) and in the Fraser Valley was 20% higher than next most-active September-- again in 1992. (What was up with September 1992, you ask? Well, Canada was emerging from a two-year recession, aided by the Bank of Canada having lowered its policy interest rate from 13.8% in May 1990 to 4.86% in August 1992--at that time the lowest rate
Most of the attention given to the September housing market statistics for the Vancouver Region will, rightfully so, focus on the sheer number of transactions that took place. Indeed, the 5,759 sales tallied last month across the combined Greater Vancouver and Fraser Valley board areas were the most ever for a September (5% higher than in 1992), were up 59% versus September 2019, and were 61% higher than the past-decade average for the month. A less heralded observation from recent months is the existence of what appears to be a sort of “Covid-effect” within the region’s housing market. Specifically, while condos accounted for 42% of all sales during the 12 months before the pandemic took hold in April, only 37% of sales since then have been in this format, with buyers increasingly looking for larger homes with more outdoor space.
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 October 5, 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. 3
featured listings SEARCH FOR THE HOME YOU LOVE AT RENNIE.COM
Shangri-La $6,998,000 | DOWNTOWN 4401-1128 W Georgia Street 3 Bed, 3,381 SF Ryan Wong PREC* 604.551.7966
House $5,188,000 | POINT GREY 4484 W 11th Avenue 4 Bed, 3,629 SF Vesna Todic 604.728.6331
House $2,776,800 | VAN WEST
6505 Yew Street 5 Bed, 2,533 SF Andy Mah 604.779.9382
Elenore on Fifth
Grosvenor Ambleside $2,488,000 | WEST VAN
Eastpark
$2,649,000 | MT PLEASANT
$1,549,000 | MT PLEASANT Ph602-5080 Quebec Street 3 Bed, 1,275 SF
805-210 E 5th Avenue 3 Bed, 1,691 SF Jenna Van Alstine 778.558.3355
601-1355 Bellevue Avenue 2 Bed, 1,510 SF Natalie Genest PREC* 604.928.7330
Danny Chow PREC* 604.765.2469
House
1/2 Duplex
House
$1,480,000 | VAN EAST
$1,350,000 | VAN EAST
$1,125,000 | SURREY
3575 Tanner Street 5 Bed, 2,589 SF
2940 Horley Street 3 Bed, 1,538 SF Calvin Kan PREC* 604.616.8373
10278 124 Street 6 Bed, 2,451 SF Sheliza Vellani 604.710.3681
Lorenzo Daminato PREC* 604.657.8121
The Brighton
Townhome
Richards Living $929,000 | YALETOWN 517-1088 Richards Street 2 Bed, 869 SF
$969,000 | VAN EAST
$1,099,000 | DOWNTOWN
1801-120 Milross Avenue 2 Bed, 1,045 SF
5795 Wales Street 2 Bed, 1,200 SF Simon Lai PREC* 778.881.3603
Eric Zamora PREC* 778.389.4556
Phil Chang PREC* 604.754.6678
The Five Points $815,000 | NORTH VAN
Escala
The Palms
$839,000 | BURNABY 908-1788 Gilmore Avenue 2 Bed, 942 SF
$769,000 | WHITE ROCK 204-15367 Buena Vista Avenue 2 Bed, 1,465 SF
215-711 W 14th Street 2 Bed, 884 SF
Sora Chung 604.809.5162
Brandon Blue PREC* 604.999.7792
Nagib Karim PREC* 604.999.5887
Townhome $649,000 | FAIRVIEW 203-755 W 15th Avenue 1 Bed, 748 SF Samson Danniels 778.989.2454
White Rock Square 2 $518,000 | WHITE ROCK 703-1442 Foster Street 2 Bed, 1,173 SF Joanne Hoekstra 604.722.6645
Willow Creek $383,900 | LANGLEY 318-27358 32 Avenue 2 Bed, 1,023 SF Clarke Mallory PREC* 604.316.9917
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 October 5, 2020. 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.
4
DETACHED SEPTEMBER vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 8 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
23 % DOWN
14 % UP
-
76 % UP
30 %
The number of detached listings in the Vancouver Region in September, at 7,898, was 4% lower month-over-month and 23% lower year-over-year. The 2,354 detached sales in September were 13% above last month and 76% higher vs last year. The sales-to-listings ratio increased to 30%, as the Vancouver Region’s detached market remained in seller’s market territory. The benchmark price in September was $1.30M, 1.2% above August and 8% higher vs September 2019. The average sold price was $1.47M, 6% above the previous month and 14% higher vs September 2019.
VS
VS
VS
VS
VS
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
7,898 2,354
8,215 2,082
-4% 13% 18%
10,258 1,340
-23% 76% 128%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
30%
25%
13%
$1,300,300 $1,285,300 1.2% $1,202,000
8%
$1,472,243 $1,390,729
6% $1,293,715
14%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.30
$1.27
$1.25
$1.24
$1.22
$1.21
$1.20
1.85
1.84
1.79
10,258
8,663
8,081
1.07
1.07
1.06
7,898
7,339
7,217
6,671
2,354
2,127
1,496
1,406
1,340
891
842
Sep-19
Aug-20
Sep-20
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
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 October 5, 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.
5
TOWNHOME SEPTEMBER vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 5 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
15 % DOWN
8 % UP
8 % UP
77 % UP
SELLER’S 41 %
The number of townhome listings in the Vancouver Region decreased 2% from last month, settling at 2,915, and were 15% below September 2019. Townhome sales, at 1,189, were 13% higher vs last month and 77% above September 2019. The sales-to-listings ratio increased to 41% in September, as the Vancouver Region’s townhome segment remained in a seller’s market. The benchmark price in September was 0.5% above August, at $701,400, and was 5% higher year-over-year. The average sold price was $743,854 in September, (decreasing 0.6% vs August) while the average PSF sales price was $495 (decreasing 0.5%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
2,915 1,189
2,979 1,056
-2% 13% 15%
3,431
-15% 77% 108%
TOTAL SALES
673 20%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
41%
35%
$701,400 $697,800 $743,854 $748,409
0.5% $670,500 -0.6% $690,271 -0.5% $460
5% 8% 8%
$495
$498
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$670,500 $667,000 $674,000 $682,500 $686,500 $693,600 $701,400
3,431
2,982
2,915
2,755
2,468
2,405
2,073
1,189
1,089
792
749
673
511
486
VANCOUVR REGION REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
209
4+ bdrms
BUYER'S MARKET
560
692
3 bdrms
1,554
288
<3 bdrms
. . . . 0 0 0 0
801
S-L RATIO SALES INVENTORY
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 October 5, 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.
6
CONDO SEPTEMBER vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO 26 %
MARKET SUMMARY ›
5 % UP
4 % UP
13 % UP
36 % UP
There were 8,119 condo listings in the Vancouver Region in September, 0.4% below August but 13% higher vs September 2019. September condo sales increased by 18% month- over-month and were 36% above September 2019. The sales-to-listings ratio for condos in the Vancouver Region increased to 26%, remaining a seller’s market. The condo benchmark price in September was $656,600, decreasing 0.2% from August but 4% higher vs September 2019. The average sold price was $635,844, 1.6% above last month; the average PSF sales price was $726, up 0.3% from last month.
VS
VS
VS
VS
VS
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
8,119 2,080
8,151 1,757
-0.4% 7,176
13% 36% 20%
TOTAL SALES
18% 19%
1,528
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
26%
22%
21%
$656,600 $658,200 $635,844 $625,576
-0.2% $629,000 1.6% $606,368
4% 5% 4%
$726
$724
0.3%
$697
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$661,000 $657,300 $656,500 $656,600
$629,000 $628,500 $638,500
8,119
7,761
7,176
6,209
5,878
5,781
4,715
2,080
1,832
1,590
1,528
1,512
1,060
846
VANCOUVR REGION REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
119
3+ bdrms
BUYER'S MARKET
836
1,169
2 bdrms
4,805
792
<2 bdrms
. . . . 0 0 0 0
2,478
S-L RATIO SALES INVENTORY
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 October 5, 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.
7
DETACHED SEPTEMBER greater vancouver board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 8 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
23 % DOWN
13 % UP
-
76 % UP
28 %
Detached listings in the REBGV decreased to 4,780 in September, 3% below August and 23% lower vs September 2019. Detached sales, at 1,325, increased 20% compared to August and were 76% higher vs September 2019. The sales-to-listings ratio increased to 28%, as the REBGV detached market remained in seller’s market territory. The detached benchmark price in September was $1.51M, up 1.1% month-over-month and an 8% increase year-over-year. The average sold price was $1.71M, up 4% from the previous month and 13% higher year-over-year.
VS
VS
VS
VS
VS
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
4,780 1,325
4,925 1,107
-3% 20% 23%
6,214
-23% 76% 129%
TOTAL SALES
752 12%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
28%
22%
$1,507,500 $1,491,300 1.1% $1,398,200
8%
$1,709,461 $1,638,195
4% $1,507,368
13%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.51
$1.48
$1.46
$1.44
$1.42
$1.41
$1.40
1.86
1.85
1.82
6,214
5,299
1.18
1.18
1.18
4,780
4,808
4,401
4,357
4,182
1,325
1,133
859
832
752
544
442
Sep-19
Aug-20
Sep-20
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
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 October 5, 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.
8
greater vancouver board area
TOWNHOME SEPTEMBER
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 5 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
17 % DOWN
7 % UP
8 % UP
79 % UP
SELLER’S 39 %
The number of townhome listings in the REBGV increased to 1,612 in September, 4% below August and 17% lower year-over-year. Townhome sales in September, at 634, were up 17% vs August and 79% above last year. The sales-to-listings ratio increased to 39% as the REBGV townhome market remained a seller’s market. The townhome benchmark price in September was $809,900, 0.4% above August and 5% higher than in September 2019. The average sold price was $864,105, with an average PSF sales price of $592 (down 2% and 3%, respectively, vs August).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,612
1,678
-4% 17% 22%
1,948
-17% 79% 116%
TOTAL SALES
634 39%
540 32%
355 18%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$809,900 $806,400 $864,105 $882,823
0.4% $770,000 -2% $803,863
5% 7% 8%
$592
$610
-3%
$546
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$809,900
$770,000 $771,500 $781,800 $790,200 $792,700 $797,700
1,948
1,678
1,612
1,576
1,372
1,368
1,180
634
534
409
397
355
271
263
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
103
4+ bdrms
BUYER'S MARKET
235
366
3 bdrms
860
165
<3 bdrms
. . . . 0 0 0 0
517
S-L RATIO SALES INVENTORY
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 October 5, 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.
9
greater vancouver board area
CONDO SEPTEMBER
AVERAGE PRICE
AVERAGE PSF PRICE 3 % UP
BENCHMARK PRICE 5 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
4 % UP
13 % UP
37 % UP
SELLER’S 25 %
The number of condo listings in the REBGV decreased to 6,303 in September, 0.5% above August and 13% higher vs September 2019. At 1,598, condo sales were 20% higher month-over- month and 37% higher year-over-year. The sales-to-listings ratio increased to 25%, as the REBGV condo market remained favourable to sellers. The condo benchmark price in September was $683,500, down 0.3% from August and up 5% com- pared to September 2019. The average sold price was $698,996 (increasing 0.9% from August) with an average PSF sales price of $800 (0.1% lower vs August).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
6,303 1,598
6,272 1,336
0.5% 20% 19%
5,595 1,167
13% 37% 22%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
25%
21%
21%
$683,500 $685,800 $698,996 $692,980
-0.3% $654,000 0.9% $672,328 -0.1% $775
5% 4% 3%
$800
$801
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$690,000 $686,500 $682,500 $683,500
$654,000 $654,000 $666,000
6,303
5,923
5,595
4,661
4,498
4,356
3,608
1,598
1,402
1,217
1,181
1,167
814
655
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
105
3+ bdrms
BUYER'S MARKET
710
849
2 bdrms
3,580
644
<2 bdrms
. . . . 0 0 0 0
2,013
S-L RATIO SALES INVENTORY
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 October 5, 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.
10
DETACHED SEPTEMBER fraser valley board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 9 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
23 % DOWN
14 % UP
-
75 % UP
SELLER’S 33 %
The number of September detached listings in the Fraser Valley board area was 5% lower vs August (at 3,118) and 23% lower vs September 2019. Detached sales increased 6% from August, to 1,029, and were up 75% vs September 2019. The sales-to-listings ratio increased to 33%, as the board area’s condo market remained in seller’s market territory. The benchmark price in September was $1.03M, up 1.3% month-over-month and 9% higher year-over-year. The average sold price in September was $1.17M, 5% higher month-over-month and 14% higher year-over-year.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
3,118 1,029
3,290
-5%
4,044
-23% 75% 127%
TOTAL SALES
975 30%
6%
588 15%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
33%
11%
$1,032,700 $1,019,600 1.3% $950,000
9%
$1,166,787 $1,109,759
5% $1,020,471
14%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$1,008,000 $1,032,700
$950,000 $952,200 $960,800 $987,800 $990,400
1.82
1.81
1.74
4,044
1.31
1.30
1.29
3,364
3,273
3,118
2,982
2,816
2,489
1,029
994
637
588
574
400
347
Sep-19
Aug-20
Sep-20
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
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 October 5, 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.
11
TOWNHOME SEPTEMBER fraser valley board area
AVERAGE PRICE
AVERAGE PSF PRICE 5 % UP
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
12 % DOWN
8 % UP
75 % UP
SELLER’S 43 %
The number of townhome listings in the Fraser Valley board area increased to 1,303 in September, 0.2% above last month but 12% lower than last year. At 555, townhome sales were up 8% vs August and 75% above last year. The sales-to-listings ratio, at 43%, remained favour- able market for sellers. The benchmark price in September was $567,300, up 0.6% from last month and 4% higher vs last year. The average sold price, at $606,487, was 0.2% lower between August and September while the average PSF sales price was 1.1% higher (at $384).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,303
1,301
0.2%
1,483
-12% 75% 99%
TOTAL SALES
555 43%
516 40%
8% 7%
318 21%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$567,300 $563,900 $606,487 $607,743
0.6% $545,500 -0.2% $563,462
4% 8% 5%
$384
$380
1.1%
$364
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$545,500 $538,700 $541,800 $549,100 $555,000 $563,200 $567,300
1,483
1,304
1,303
1,179
1,100
1,033
893
555
555
383
352
318
240
223
FVREB
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
106
4+ bdrms
325
SELLER'S MARKET
BALANCED
326
3 bdrms
BUYER'S MARKET
694
123
<3 bdrms
. . . . 0 0 0 0 QD
284
S-L RATIO SALES INVENTORY
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 October 5, 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.
12
fraser valley board area
CONDO SEPTEMBER
AVERAGE PRICE
AVERAGE PSF PRICE 7 % UP
BENCHMARK PRICE 5 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
8 % UP
15 % UP
34 % UP
SELLER’S 27 %
There were 1,816 condo listings in the Fraser Valley board area in September, 3% below last month but 15% higher vs September of last year. At 482, condo sales were 14% higher month-over- month and 34% above September 2019. Increasing to 27%, the board area’s condo sales-to- listings ratio reflected seller’s market conditions. The condo benchmark price in September was $436,900, 0.1% below August but 5% higher vs September 2019. The average sold price was $426,473 (4% above August), while the average PSF sales price was $479 (0.2% above August).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,816
1,879
-3% 14% 18%
1,581
15% 34% 16%
TOTAL SALES
482 27%
421 22%
361 23%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$436,900 $437,300 $426,473 $411,678
-0.1% $417,400 4% $393,142
5% 8% 7%
$479
$478
0.2%
$446
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$417,400 $416,700 $421,300 $436,900 $433,700 $437,300 $436,900
1,838
1,816
1,581
1,548
1,425
1,380
1,107
482
430
373
361
331
246
191
FVREB
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
. . . . 0 0 0 0 SELLER'S MARKET BALANCED BUYER'S MARKET S-L RATIO SALES INVENTORY
14
3+ bdrms
126
320
2 bdrms
1,225
148
<2 bdrms
465
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 October 5, 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.
13
DETACHED SEPTEMBER burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 12 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
31 % DOWN
19 % UP
-
52 % UP
36 %
The number of detached listings in Burnaby North in September, at 139, were 1.4% lower month-over- month and 31% lower year-over-year. With 50 in September, detached sales were 14% below last month but 52% higher vs last year. The sales-to-listings ratio decreased to 36%, as Burnaby North’s detached market remained favour- able to sellers. The benchmark price in September was $1.50M, 1.6% above August and 12% above September 2019. The average sold price was $1.77M, up 7% from the previous month and 19% above September 2019.
VS
VS
VS
VS
VS
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 141
% Change
No. 201
% Change
TOTAL LISTINGS
139
-1.4% -14% -13%
-31% 52% 119%
TOTAL SALES
50
58
33
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
36%
41%
16%
$1,501,200 $1,477,400 1.6% $1,345,000
12% 19%
$1,774,808 $1,666,039
7% $1,485,692
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.50
$1.48
$1.47
$1.45
2.05
$1.42
2.02
$1.38
$1.35
1.84
1.23
201
1.19
1.19
154
142
139
112
111
110
50
36
33
31
27
24
16
Sep-19
Aug-20
Sep-20
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
S-L RATIO SALES INVENTORY
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 October 5, 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.
14
burnaby north
TOWNHOME SEPTEMBER
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 0.3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
9 % UP
10 % DOWN
6 % DOWN
32 % UP
SELLER’S 39 %
The number of townhome listings in Burnaby North increased 16% from last month, settling at 64, but were 6% below September 2019. Townhome sales, at 25, were 7% lower than last month but 32% above September 2019. The sales-to-listings ratio fell to 39% in September, as Burnaby North’s townhome segment remained in a seller’s market. The benchmark price in September was down 0.1% month-over-month, to $731,900, but was 0.3% above September 2019. The average sold price was $718,324 in September, (decreasing 0.2% vs August) while the average PSF sales price was $478 (decreasing 13%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
64 25
55 27
16% -7% -20%
68 19
-6% 32% 40% 0.3%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
39%
49%
28%
$731,900 $732,500 $718,324 $719,922
-0.1% $729,500 -0.2% $658,621
9%
$478
$549
-13%
$532
-10%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$729,500 $728,500 $720,400 $728,200 $719,300 $736,000 $731,900
68
65
64
66
52
46
36
25
19
18
15
14
13
13
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
3
4+ bdrms
BUYER'S MARKET
5
15
3 bdrms
27
7
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD QD
32
S-L RATIO SALES INVENTORY
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 October 5, 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.
15
CONDO SEPTEMBER burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE 6 % UP
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
5 % UP
31 % UP
32 % UP
SELLER’S 27 %
There were 405 condo listings in Burnaby North in September, 3% below August but 31% higher vs September 2019. September condo sales increased by 8% month- over-month, to 111, and were 32% above September 2019. The sales-to-listings ratio for condos in Burnaby North increased to 27%, remaining a seller’s market. The condo benchmark price in September was $613,400, a 0.2% decrease from August but 4% above September 2019. The average sold price was $634,615, 3% above last month; the average PSF sales price was $746, down 2% from last month.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 417 103 25%
% Change
No. 309
% Change
TOTAL LISTINGS
405 111 27%
-3%
31% 32% 0.8%
TOTAL SALES
8%
84
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
11%
27%
$613,400 $614,400 $634,615 $614,144
-0.2% $591,400 3% $605,677
4% 5% 6%
$746
$762
-2%
$704
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$623,500 $610,900 $613,400
$591,400 $595,900 $606,900 $616,300
405
357
309
268
252
220
178
111
86
85
84
71
55
48
BURNABY NORTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
6
3+ bdrms
42
SELLER'S MARKET
BALANCED
71
2 bdrms
BUYER'S MARKET
270
34
<2 bdrms
. . . . 0 0 0 0 QD QD QD
93
S-L RATIO SALES INVENTORY
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 October 5, 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.
16
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