the rennie review

DATA-DRIVEN INSIGHT INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION

published November 2019

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

Greater Vancouver Board Area

Burnaby North Burnaby South

Coquitlam

Fraser Valley Board Area

Andrew Ramlo VP Intelligence aramlo@rennie.com

Ryan Berlin Senior Economist rberlin@rennie.com

Langley

North Vancouver

Richmond Squamish

Surrey

Vancouver East Vancouver West West Vancouver

43 CURRENT PROJECTS

Copyright © 2019 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 November 6, 2019. All data from RealEstateBoard ofGreaterVancouverandFraserValley & 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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

Vancouver housing demand resurgent . October marked four straight months of year-over-year sales gains across the Vancouver region. As inventories continue to fall for all home types, prices are beginning to increase once again.

have begun to inch upwards after months of stagnation: overall, prices were up 0.1% in October versus September, with detached prices up 0.3% and condo prices up 0.1% (townhome prices inched down by 0.1%). The myriad of changes our market is undergoing across home types, neighbourhoods, and price points has created conditions that favour sellers of homes under $1M regionally, while conditions are balanced in the $1-1.5M range, and buyers continue to have the upperhand when it comes to the most expensive segments of the market. Overall, however, it has become unambiguously clear that our market has exited the slump that characterized much of the past two years. Looking ahead, expect even more competition for available homes which, when combined with continued favourable economic conditions, is sure to create tailwinds for prices.

Our region’s housing market has charted a new course in the second half of 2019 and logged its 4th consecutive month of sales gains in October, with last month’s sales up 42% compared to October 2018. These changes reflect continued population growth, economic expansion, an absence of new policy interventions, and some pent-up demand that has accumulated over the past couple of years. Notably, the rebound has been realized across all home types, with sales of townhomes in October up 40%, condos up 41%, and detached up 43% versus last year. As a result, townhome and condo sales are now 22% above their respective long-run historical averages, and while detached sales are still 7% below the norm, this represents a marked shift since March 2019 when detached sales were more than 50% below their long-run average.

While these data points tell us how our current market is faring in the context of past years, they speak less directly to its recently- changing trajectory. For this we look to recent month-over-month changes. October’s sales were up 21% versus September, notable as we typically see an average 7% increase between September and October markets. This builds on what we saw in September, when sales increased despite the typical August-to-September decline. Clearly, the demand side of our market is playing catch- up, with the 4,367 sales registered last month representing the fourth-highest number in the past ten Octobers. One consequence of this recently-elevated sales activity has been a contraction in inventory, with total listings down 12% year- over-year and 11% month-over-month. It’s not surprising, then, that benchmark prices

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Copyright © 2019 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 November 1, 2019. 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.

DETACHED - OCTOBER 2019 greater vancouver board area

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 8 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

6 % DOWN

18 % DOWN

48 % UP

BALANCED 17 %

Detached listings in the REBGV decreased to 5,538 in October, 10% below September and 18% lower vs October 2018. Detached sales, at 945, increased 25% compared to September and were 48% higher vs October 2018. The sales-to-listings ratio rose to 17%, as the REBGV detached market remained in balanced market territory. The detached benchmark price in October was $1.41M, relatively unchanged month-over-month and an 8% decline year-over-year. The average sold price was $1.53M, up 1.7% from the previous month and 6% lower year-over-year.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

5,538

6,135

-10% 25% 39%

6,714

-18% 48% 79%

TOTAL SALES

945 17%

754 12%

639 10%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$1,410,500 $1,406,200 0.3% $1,525,200 $1,533,135 $1,507,581 1.7% $1,624,471

-8% -6%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.53

$1.48

$1.44

$1.43

$1.42

$1.41

2.20

2.16

6,827

6,714

1.86

6,521

1.83

6,326

5,594

5,538

4,810

945

760

712

639

584

452

352

Oct-18

Sep-19

Oct-19

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

greater vancouver board area

TOWNHOME - OCTOBER 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 6 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

3 % DOWN

0.8 % UP

1.5 % DOWN

50 % UP

SELLER’S 28 %

The number of townhome listings in the REBGV dipped to 1,671 in October, 12% below September and 1.5% lower year-over-year. Townhome sales in October, at 465, were up 31% vs September and were 50% above last year. The sales-to-listings ratio increased to 28% as the REBGV townhome market became favourable to sellers. The townhome benchmark price in October was $771,600, 0.5% above September but 6% lower than in October 2018. The average sold price was $856,026, with an average PSF sales price of $589 (6% and 8% higher, respectively, vs September).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

1,671

1,900

-12% 31% 49%

1,697

-1.5% 50% 52% -6% 0.8%

TOTAL SALES

465 28%

355 19%

311 18%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$771,600 $767,500 $856,026 $803,863

0.5% $818,900 6% $848,979

$589

$546

$608

-3%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$818,900 $797,400 $780,600 $775,000 $774,700 $771,900 $771,600

2,156

1,995

1,991

1,697

1,671

1,540

1,294

465

345

341

316

311

239

167

REBGV

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

290

259

3 bdrms

919

129

<3 bdrms

. . . . 0 0 0 0

462

S-L RATIO SALES INVENTORY

greater vancouver board area

CONDO - OCTOBER 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 6 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

4 % DOWN

7 % DOWN

6 % DOWN

41 % UP

SELLER’S 29 %

The number of condo listings in the REBGV decreased to 4,715 in October, 14% below September and 6% below October 2018. At 1,386, condo sales were 19% higher month-over- month and 41% higher year-over-year. The sales-to-listings ratio increased to 29%, as the REBGV condo market remained in seller’s market territory. The condo benchmark price in October was $652,500, relatively unchanged from September and down 6% compared to October 2018. The average sold price was $661,166 (1.7% below September) with an average PSF sales price of $772 (relatively unchanged from September).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

4,715 1,386

5,453 1,167

-14% 19% 37%

5,039

-6% 41% 51% -6% -7% -4%

TOTAL SALES

983 20%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

29%

21%

$652,500 $651,500 $661,166 $672,328

0.2% $693,200 -1.7% $709,280 -0.4% $807

$772

$775

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$693,200 $675,200 $671,500 $667,500 $654,700 $654,000 $652,500

6,221

6,009

5,625

5,039

4,715

4,647

3,862

1,386

1,119

983

945

884

759

537

REBGV

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

540

742

2 bdrms

2,783

563

<2 bdrms

. . . . 0 0 0 0

1,392

S-L RATIO SALES INVENTORY

DETACHED - OCTOBER 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 8 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

33 % DOWN

11 % DOWN

158 % UP

SELLER’S 31 %

The number of detached listings in Burnaby North in October, at 156, was 19% lower month-over- month and 33% lower year-over-year. With 49 in October, detached sales were up by 16 month-over-month and 30 above last year. The sales-to-listings ratio jumped to 31%, as Burnaby North’s detached market became favour- able to sellers. The benchmark price in October was $1.37M, 1.6% above September 2019 but 8% lower than in October 2018. The average sold price was $1.53M, up 3% from the previous month but 11% below October 2018.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 193

% Change

No. 233

% Change

TOTAL LISTINGS

156

-19% 48% 84%

-33% 158% 285%

TOTAL SALES

19 8%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

31%

17%

$1,366,200 $1,345,000 1.6% $1,487,200

-8%

$1,527,764 $1,485,692

3% $1,720,679 -11%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.49

$1.45

$1.40

$1.39

$1.38

$1.37

2.36

2.31

2.27

1.95

1.89

1.84

239

233

225

212

187

171

156

Oct-18

Sep-19

Oct-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

. . . 0 0 0 0 0 QD QD QD QD S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET

TOWNHOME - OCTOBER 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE 8 % UP

BENCHMARK PRICE 5 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

13 % UP

10 % UP

82 % UP

SELLER’S 29 %

The number of townhome listings in Burnaby North increased 10% from last month, settling at 69, and was 10% above October 2018. Townhome sales, at 20, were up by 1 vs last month and 9 above October 2018. The sales-to-listings ratio slightly decreased to 29% in October, as Burnaby North’s townhome segment remained a seller’s market. The benchmark price in October was $723,900, 0.8% below September and 5% lower vs October 2018. The average sold price was $732,455 in October, (increasing 11% vs September) while the average PSF sales price was $558 (increasing 5%).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

69 20

63 19

10%

63 11

10% 82% 66% -5% 13%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

29%

30%

-4%

17%

$723,900 $729,500 $732,455 $658,621

-0.8% $761,100 11% $649,955

$558

$532

$517

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$761,100

$724,400 $715,300 $709,200 $725,500 $721,500 $723,900

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

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD QD

S-L RATIO SALES INVENTORY

CONDO - OCTOBER 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 6 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

1.8 % DOWN

3 % DOWN

1.2 % UP

96 % UP

SELLER’S 35 %

There were 257 condo listings in Burnaby North in October, 14% below September but 1.2% higher than in October 2018. October condo sales increased by 7% month-over- month and 96% year-over-year. The sales-to-listings ratio for condos in Burnaby North increased to 35%, remaining a seller’s market. The condo benchmark price in October was $590,300, relatively unchanged vs September and 6% lower than in October 2018. The average sold price was $592,360, down 2% from last month; the average PSF sales price was $681, down 3% from last month.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 298

% Change

No. 254

% Change

TOTAL LISTINGS

257

-14%

1.2% 96% 93%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

35%

28%

24%

18%

$590,300 $591,400 $592,360 $605,677

-0.2% $631,200 -2% $603,490

-6%

-1.8%

$681

$704

-3%

$701

-3%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$631,200 $619,100 $599,900 $611,800 $607,800 $601,700 $590,300

331

316

311

254

257

229

208

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+ bdrms

BUYER'S MARKET

2 bdrms

184

<2 bdrms

. . . . 0 0 0 0 QD QD QD

S-L RATIO SALES INVENTORY

DETACHED - OCTOBER 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 10 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

18 % DOWN

1.7 % DOWN

36 % UP

BALANCED 15 %

There were 199 detached listings in the Burnaby South market area in October, 10% below last month and 18% lower vs October 2018. Detached sales rose by 7, to 30, between September and October, and were 8 higher year-over-year. The sales-to-listings ratio increased to 15%, as Burnaby South’s detached market transitioned to balanced market territory. The benchmark price in October was $1.47M, 1.0% above the previous month but a 10% decline vs last year. The average sold price for detached homes was $1.61M, relatively unchanged month-over-month and 1.7% below October of last year.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 221

% Change

No. 244

% Change

TOTAL LISTINGS

199

-10% 30% 45%

-18% 36% 67%

TOTAL SALES

22 9%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

15%

10%

$1,473,100 $1,458,500 1.0% $1,629,300 -10% $1,611,797 $1,609,191 0.2% $1,640,315 -1.7%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.63

$1.57

$1.54

$1.53

$1.50

$1.47

2.32

2.28

2.23

2.01

1.93

1.90

244

242

225

222

199

192

177

Oct-18

Sep-19

Oct-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

. . . 0 0 0 0 0 QD QD QD QD S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET

TOWNHOME - OCTOBER 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 4 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

6 % DOWN

1.2 % DOWN

10 % UP

38 % UP

SELLER’S 23 %

Townhome listings in the Burnaby South market area in October (at 78) were down 15% from last month but 10% above last year. The 18 townhome sales were 1 above September and 5 more than in October 2018. The sales-to-listings ratio increased to 23%, as Burnaby South’s townhome segment transitioned to a seller’s market. The benchmark price in October was $776,600, 3% above September but 4% lower year-over-year. The average sold price was $783,811 (up 3% from September) with an average PSF sales price of $613 (up 7% vs September).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

78 18

92 17

-15%

71 13

10% 38% 26% -4%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

23%

18%

25%

18%

$776,600 $757,100 $783,811 $761,723

3% $811,100 3% $793,531

-1.2%

$613

$574

$652

-6%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$811,100 $790,800 $807,300 $768,100 $762,600 $767,000 $776,600

113

104

BURNABY SOUTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD QD

S-L RATIO SALES INVENTORY

CONDO - OCTOBER 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 8 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

2 % DOWN

3 % DOWN

5 % UP

94 % UP

SELLER’S 26 %

The number of condo listings in Burnaby South, at 367, decreased 11% month-over-month but increased 5% vs last year. October’s condo sales, at 97, were 24 above last month and 47 higher than last year. The sales-to-listings ratio increased to 26% in October, as Burnaby South’s condo segment transi- tioned to seller’s market territory. The condo benchmark price in October was $645,300, 1.4% below September and an 8% decrease from October 2018. The average sold price was $607,428 (3% higher than in September) with an average PSF sales price of $723 (relatively unchanged vs September).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 414

% Change

No. 348

% Change

TOTAL LISTINGS

367

-11% 33% 50%

TOTAL SALES

94% 84% -8% -2% -3%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

26%

18%

14%

$645,300 $654,500 $607,428 $591,589

-1.4% $701,400 3% $622,308 -0.1% $743

$723

$724

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$701,400 $685,700 $689,400 $679,200 $666,200 $648,500 $645,300

457

433

436

367

348

315

BURNABY SOUTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

2 bdrms

239

<2 bdrms

. . . . 0 0 0 0 QD

S-L RATIO SALES INVENTORY

coquitlam

DETACHED - OCTOBER 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 8 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

10 % UP

20 % DOWN

120 % UP

SELLER’S 22 %

The number of detached listings in Coquitlam fell to 446 in October, 10% below September and 20% lower year-over-year. The 97 detached sales in October represented an increase of 21% from September and a 120% jump vs October of last year. Coquitlam’s sales-to-listings ratio increased to 22% as the detached segment transitioned to seller’s market territory. The benchmark price in October was $1.15M, 0.5% below September and an 8% decrease year-over-year. The average sold price was $1.26M in October, up 6% vs September and 10% above October 2018.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 495

% Change

No. 557

% Change

TOTAL LISTINGS

446

-10% 21% 35%

-20% 120% 175%

TOTAL SALES

44 8%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

22%

16%

$1,151,200 $1,157,100 -0.5% $1,252,200

-8% 10%

$1,262,777 $1,195,331

6% $1,146,798

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.25

$1.21

$1.18

$1.17

$1.16

$1.15

2.37

2.23

586

557

532

1.84

1.78

1.77

447

446

386

Oct-18

Sep-19

Oct-19

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

S-L RATIO SALES INVENTORY

coquitlam

TOWNHOME - OCTOBER 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 5 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

SELLER’S 49 %

0.4 % UP

1.7 % DOWN

20 % DOWN

88 % UP

There were 101 townhome listings in Coquitlam in October 2019, 26% below September and 20% lower vs October 2018. The 49 townhome sales in October were up by 9 vs September 2019 and 23 above October 2018. The sales-to-listings ratio jumped to 49% as Coquitlam’s townhome market remained in seller’s market territory. The townhome benchmark price in October was $648,600, relatively unchanged from September and 5% lower vs October 2018. The average sold price was $743,541, with an average PSF sales price of $471 (2% below and 1.5% above, respectively, vs September).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 137

% Change

No. 127

% Change

TOTAL LISTINGS

101

-26% 23% 66%

-20% 88% 137% 0.4% -1.7% -5%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

49%

29%

20%

$648,600 $651,300 $743,541 $759,393

-0.4% $681,000 -2% $740,277

$471

$464

1.5%

$479

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$681,000 $667,900 $656,200 $662,500 $657,300 $651,800 $648,600

164

144

143

127

101

COQUITLAM REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD QD

S-L RATIO SALES INVENTORY

coquitlam

CONDO - OCTOBER 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 2 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

SELLER’S 35 %

9 % DOWN

0.8 % DOWN

20 % DOWN

72 % UP

The 297 condo listings in Coquitlam in October were down 15% from September and 20% lower vs October 2018. Year-over-year condo sales rose by 72% in October (to 108) and were 18% higher vs September. The sales-to-listings ratio increased to 35%, as Coquitlam’s condo market remained in seller’s market territory. The condo benchmark price in October was $517,000, relatively unchanged from September and a 2% decrease vs October 2018. The average sold price was $551,234 in October (up 2% vs September) while the average PSF sales price was $633 (a 1.9% increase vs September).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 349

% Change

No. 370

% Change

TOTAL LISTINGS

297 103 35%

-15% 18% 39%

-20% 72% 114%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

25%

16%

$517,000 $518,200 $551,234 $537,872

-0.2% $529,000 2% $555,588

-2%

-0.8%

$633

$621

1.9%

$698

-9%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$529,000 $519,000 $523,300 $511,500 $514,600 $524,300 $517,000

413

399

370

383

297

279

271

103

COQUITLAM REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

2 bdrms

199

<2 bdrms

. . . . 0 0 0 0 QD QD QD

S-L RATIO SALES INVENTORY

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the rennie review - November 2019