the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 14 SUB-MARKETS IN THE VANCOUVER REGION
published September 2022
table of contents
02 INTRO
Each month, we release the rennie review, a detailed look at the real estate marketplace in the Vancouver Region. This report examines the market stats by sub-market, provides updates on 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 47 48 51
Vancouver Region
Greater Vancouver Board Area Fraser Valley Board Area
Burnaby North Burnaby South
Ryan Berlin DIRECTOR OF INTELLIGENCE & SENIOR ECONOMIST rberlin@rennie.com
Ryan Wyse SENIOR ANALYST rwyse@rennie.com
Coquitlam
Langley
North Delta
New Westminster North Vancouver
Richmond Squamish
Surrey
Vancouver East
Vancouver Downtown
Vancouver West West Vancouver
53 AREA MAPS
56 CURRENT PROJECTS
Copyright © 2022 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 September 7 2022. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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
it’s the economy, right? or is it? Rising interest rates brought on by persistently high inflation have dampened housing demand in the Vancouver Region, but a strong labour market has constrained supply, yielding relatively balanced market conditions.
to-date vis-a-vis elevated supply; in large part, this has been due to the state of our labour market. To put it simply, when people who want to work are working, listings remain at or below the long-run average; when people aren’t working and earning an income, supply tends to swell as some homeowners can’t afford their mortgages. To wit, the national unemployment rate reached an all-time low in June, at 4.9% where it remained for two consecutive months before ticking up to 5.4% in August. In Metro Vancouver, the unemployment rate has remained below 5% since May, nestled in at 4.8% most recently (in August). The historically-robust relationship between the region’s unemployment rate and MLS inventory has continued to hold through 2022, with our well-functioning labour market being accompanied by a total listings count that declined by 7% from July to August, to 14,917—20% below the past 10- year August average. With the Bank of Canada poised to further raise rates to return inflation to its desired target of 2%, the nature of current and would-be borrowers’ participation in the housing market will continue to be impacted. That said, given the connection between the level of housing supply, overall housing market conditions, and the labour market, it’s the latter that we’ll be keeping a particular eye on.
As summer comes to a close and we transition into the fall—a somewhat ironic name for a season during which we’ll likely continue experiencing high inflation and rising interest rates—we are facing much different economic conditions today here in Metro Vancouver than we were as recently as the spring. In turn, the evolving economic landscape is having a direct impact on our local housing market in both direct and indirect ways. High inflation has been a phenomenon both here in Canada and around the world since the early part of 2021, driven by elevated consumer demand, disrupted supply chains, China’s continued enforcement of its zero- Covid policy, and the war in Ukraine. More specifically, year-over-year consumer price changes have exceeded the Bank of Canada’s target range of 1-3% since April of last year, peaking at 8.1% in June 2022 before easing to 7.6% in July. Predictably, this has spurred the Bank of Canada to hike interest rates in response, with the Bank having raised
its policy rate five times to-date in 2022; this has brought the overnight rate up to 3.25%, a level not seen since April 2008. Meanwhile, bank prime rates are now up to 5.45% and fixed mortgage rates—which have been rising since February 2021 and have been, in part, influenced by the Bank’s more recent policy of quantitative tightening—are now also at their highest level in more than a decade. While the dramatic and rapid increase in borrowing costs has had a significant impact on some households—including parts of the first-time home buyer, mortgage renewer, and variable-rate mortgage holder groups— its biggest impact has been to gum-up the demand side of the market. This is seen in depressed sales counts, with the 2,850 MLS sales in the Vancouver Region in August sitting 45% below last August’s level and 31% below the past 10-year August average. Notably, more-expensive money has not had wide-ranging impacts on the housing market
Copyright © 2022 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 September 7 2022. 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
House
House
House
$6,998,000 | WEST VAN
$3,649,900 | CAMBIE
$3,299,000 | SQUAMISH 14847 Squamish Valley Road 5 Bed, 3,630 SF
5517 Ocean Place 3 Bed, 4,903 SF Jason Soprovich 604.817.8812
3788 Ash Street 6 Bed, 3,520 SF
Danny Chow PREC* 604.765.2469
Liz Kaiser 604.848.8804
House
House
The Pacific
$2,299,900 | BURNABY NORTH
$1,998,000 | WEST VAN 6755 Dufferin Avenue 3 Bed, 2,763 SF Eric Langhjelm PREC* 778.688.4149
$1,939,900 | DOWNTOWN
9961 Casewell Street 9 Bed, 3,808 SF Rob Breckwoldt PREC* 604.459.7778
3104 - 889 Pacific Street 2 Bed, 1,044 SF
Amy Chan 604.992.2101
Townhome
House
House
$1,799,000 | NORTH VAN
$1,699,900 | NORTH VAN
$1,680,000 | PORT COQUITLAM
C - 1133 E. 29th Street 3 Bed, 3,195 SF Charlie Kim PREC* 604.767.1531
1831 Arborlynn Drive 3 Bed, 1,217 SF
3671 Somerset Street 5 Bed, 2,221 SF
Art Seroff PREC* 778.223.0033
Tracy Lam PREC* 778.688.8035
Evoque
George Townhomes $1,498,000 | PORT MOODY 102 - 3105 St George Street 4 Bed, 1,580 SF
Affinity
$1,248,000 | SURREY 78 - 15177 60 Avenue 4 Bed, 2,221 SF
$1,199,000 | BURNABY NORTH
2222 Douglas Road 2 Bed, 1,490 SF Derek Kai PREC* 604.868.1666
Reggie Tanzola PREC* 778.917.6889
Ester Hsieh PREC* 778.552.4921
The Raymur At Strathcona Village $899,900 | STRATHCONA 902 - 983 E. Hastings Street 2 Bed, 819 SF
W1
Harvest At Bose Farm
$938,000 | MARPOLE 701 - 455 SW Marine Drive 2 Bed, 773 SF
$868,000 | SURREY 212 - 16488 64 Avenue 3 Bed, 1,594 SF
Jake Kim 778.968.3121
Calvin Kan PREC* 604.616.8373
Howard Don 604.786.9998
Mackenzie Estates $865,000 | SURREY 41 - 6945 185 Street 3 Bed, 1,403 SF
Springgate $650,000 | RICHMOND 111 - 8611 General Currie Road
Tsawwassen Shores
$814,900 | LADNER 133 - 1894 Osprey Drive 3 Bed, 1,305 SF
2 Bed, 990 SF Chelsea Day 604.785.4024
Andy Mah PREC* 604.779.9382
Allison Lafrenier 604.612.1271
Copyright © 2022 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 September 7, 2022. 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
vancouverregion DETACHED -AUGUST 202
SALES TO LISTINGSRATIO 13% BALANCEDMARKET
▶ MARKETSUMMARY Therewere6,952 detached listingsin theVancouver Region in August,6% below Julyand 26% higherthan August2021. Augustdetached hom esalesincreased by1.6% m onth-over-m onth,to890,and were50% below August 2021. Thesales-to-listing ratio fordetached in the Vancouver Region,at13% ,reflected abalanced m arket.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 2% VS 2021
▲ 3% VS 2021
▲ 26% VS 2021
▼ 50% VS 2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
13% 890 6,952
1,788 5,531
-60% -50% 26%
12% 876 7,369
-4% -4% 8% 1.6% -6%
Thedetachedm edian pricein Augustwas$1,530,000,a 4% decreasefrom Julyand 3% aboveAugust2021.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$1,741,811 $1,480,000 32%
Theaveragesold pricewas$1,780,231,4% below last m onth and up 2% toAugust2021.
$1,854,655 $1,600,000
$1,780,231 $1,530,000
2% 3%
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
7,193
7,585
6,952
7,369
1.87
5,481
5,397
6,295
1.80
1.79
5,531
4,587
4,181
4,694
1.42
1.37
1.36
3,318
2,317
3,120
1,879
1,794
1,788
1,750
1,697
1,570
1,490
890
1,283
1,149
1,086
876
$1.83M $1.80M $1.73M $1.85M $1.89M
$1.65M $1.60M $1.53M
$1.60M $1.69M $1.69M
$1.48M $1.54M
Aug.-21
Jul.-22
Aug.-22
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
2000
1500
1000
34%
500
24%
24%
21%
19%
13%
11%
8%
4%
0
<$600K
$600-799K
$800-999K
$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M
$2.0M -2.49M
$2.5M -2.99M
$3M+ 1,855 73 4%
S-L RATIO SALES INVENTORY
132 32 24%
77 15 19%
228 55 24%
401 137 34%
879 185 21%
1,675 224 13%
915 102 11%
790 67 8%
Copyright© Septem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber7,202 .Aldatafrom RealEstate BoardofGreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycan otbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.The recipientoftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
5
vancouverregion TOWNHOME-AUGUST 202
SALES TO LISTINGSRATIO 26% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere2,207 townhom elistingsin theVancouver Region in August,10% below Julyand 60% higherthan August2021. Augusttownhom esalesincreased by19% m onth-over-m onth,to565,and were44% below August 2021. Thesales-to-listing ratio fortow nhom esin theVancouver Region,at26% ,reflected aselers'm arket. Thetownhom em edian pricein Augustwas$850,000,a 5% decreasefrom Julyand 8% aboveAugust2021. Theaveragesold pricewas$907,600,5% below last m onth;theaveragePSF salepricewas$622,down 2% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 6% VS 2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 5% VS 2021
▲ 8% VS 2021
▲ 60% VS 2021
▼ 44% VS 2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
26% 565 2,207
1,013 1,377
-65% -44% 60%
19% 475 2,444
32% 19% -10%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$586 $866,668 $789,900 74%
$622 $907,600 $850,000
$636 $958,415 $893,000
-2% -5% -5%
6% 5% 8%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● AUG 2021 ● AUG 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
2,434 2,444
2,373
2,207
2,003
1,678
1,251
1,377 1,306
1,227
1,076
973
1,013
782
771
766
1,001
941
925
912
895
801
565
587
574
475
$990K $1.02M $1.00M
$983K $925K
$915K $893K $850K
$847K $880K $900K
$790K $834K
VANCOUVERREGION REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
800
88
700
4+ bdrms
480
600
500
306
3 bdrms
400
1,212
41%
300
34%
162
26%
25%
200
21%
2 bdrms
15% 12%
479
100
7%
0
9
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
31 8 26%
103 35 34%
450 185 41%
751 191 25%
397 85 21%
237 35 15%
170 21 12%
7%
36
68 5
Copyright© Septem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber7,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 6 ●
vancouverregion CONDO -AUGUST 202
SALES TO LISTINGSRATIO 25% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere5,203 condolistingsin theVancouverRegion in August,6% below Julyand 2.0% higherthan August 2021. Augustcondosalesdecreased by8% m onth-over-m onth, to1,312,and were41% below August2021.
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 9% VS 2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 9% VS 2021
▲ 9% VS 2021
▲ 2.0% VS 2021
▼ 41% VS 2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
Thesales-to-listing ratio forcondosin the Vancouver Region,at25% ,reflected aselers'm arket.
TOTALLISTINGS TOTALSALES
1,312 5,203
2,230 5,103
-42% -41% 2%
1,419 5,559
-8% -6%
Thecondom edian pricein Augustwas$645,000,a0.8% increasefrom Julyand 9% aboveAugust2021. Theaveragesold pricewas$731,293,0.7% below last m onth;theaveragePSF salepricewas$862,up 1.4% to lastm onth.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$862 $731,293 $645,000 25%
$791 $672,418 $590,000 44%
$850 $736,458 $640,000 26%
1.4% -0.7% 0.8% -1.2%
9% 9% 9%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● AUG 2021 ● AUG 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
5,367
5,559
5,302
5,646
5,203
5,103
4,076
4,072
4,681
4,617
3,620
3,16
2,441
2,363
2,966
2,769
2,055
2,230
2,382
2,244
2,192
2,007
1,731
1,733
1,312
1,419
$685K $680K $667K $650K
$671K $695K
$640K $645K
$590K $598K $608K $620K $628K
VANCOUVERREGION REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
1600
1400
45 3
4+ bdrms
1200
1000
79
3 bdrms
800
596
600
40%
29%
29%
708
400
21%
2 bdrms
15%
2,970
12%
200
7% 6%
0
522
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
264 76 29%
1,233 490 40%
1,461 422 29%
853 182 21%
407 63 15%
298 36 12%
317 21 7%
370 22 6%
1,592
Copyright© Septem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber7,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 7 ●
greatervancouverboard area DETACHED -AUGUST 202
SALES TO LISTINGSRATIO 13% BALANCEDMARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 0.5% VS 2021
▲ 3% VS 2021
▲ 13% VS 2021
▼ 44% VS 2021
Therew ere 4,154 detached listingsin the G reater Vancouverboard areain August,4% below Julyand 13% higherthan August2021. Augustdetached hom esalesdecreased by1.1% m onth-over-m onth,to525,and were44% below August 2021. Thesales-to-listing ratio fordetached in the G reater Vancouverboard area,at13% ,reflected abalanced market. Thedetachedm edian pricein Augustwas$1,700,000,a 3% decreasefrom Julyand 3% aboveAugust2021.
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
13% 525 4,154
25% 935 3,688
0.5% 3% -50% -44% 13%
12% 531 4,338
-2% -3% 3% -1.1% -4%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
Theaveragesold pricewas$1,992,924,2% below last m onth and up 0.5% toAugust2021.
$2,041,887 $1,747,500
$1,992,924 $1,700,000
$1,982,514 $1,650,000
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
4,236
4,463
4,154
4,338
3,656
3,688
1.83
3,254
1.80
3,714
1.76
2,875
2,799
3,180
1.47
1.43
1.39
2,21 2,264
1,297
1,092
1,006
985
935
950
957
525
793
795
656
622
531
$1.99M $2.01M $2.00M $2.00M $1.90M
$1.80M $1.75M $1.70M
$1.76M $1.85M $1.85M
$1.65M $1.67M
Aug.-21
Jul.-22
Aug.-22
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
1400
1200
1000
800
600
29%
27%
400
24%
20%
18%
17%
14%
10%
200
4%
0
<$600K
$600-799K
$800-999K
$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M
$2.0M -2.49M
$2.5M -2.99M
$3M+ 1,444 62 4%
S-L RATIO SALES INVENTORY
60 12 20%
51 9 18%
96 26 27%
156 46 29%
373 90 24%
884 151 17%
558 76 14%
532 53 10%
Copyright© Septem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber7,202 .Aldatafrom RealEstate BoardofGreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycan otbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.The recipientoftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
8
greatervancouverboard area TOWNHOME-AUGUST 202
SALES TO LISTINGSRATIO 27% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere1,052 townhom elistingsin theG reater Vancouverboard areain August,8% below Julyand 28% higherthan August2021. Augusttownhom esalesincreased by18% m onth-over-m onth,to282,and were44% below August 2021. Thesales-to-listing ratio fortow nhom esin theG reater Vancouverboard area,at27% ,reflected aselers'm arket. Thetownhom em edian pricein Augustwas$941,500,a 5% decreasefrom Julyand 5% aboveAugust2021. Theaveragesold pricewas$1,005,567,6% below last m onth;theaveragePSF salepricewas$732,down 0.4% tolastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 6% VS 2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 0.8% VS 2021
▲ 5% VS 2021
▲ 28% VS 2021
▼ 44% VS 2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 61% 500 825
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
27% 282 1,052
6% 0.8% 5% -56% -44% 28%
21% 240 1,140
27% 18% -8%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$732 $1,005,567 $941,500
$735 $1,066,272 $990,000
-0.4% -6% -5%
$693 $997,438 $899,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● AUG 2021 ● AUG 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,140
1,127
1,052
1,107
792
921
825
754
629
597
599
667
500
409
387
501
503
493
477
467
446
441
365
282
284
240
$1.10M $1.10M $1.15M
$1.10M $1.03M
$1.01M $990K $942K
$995K $969K
$899K $960K $945K
REBGV
FVREB
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
250
39
4+ bdrms
186
200
153
150
3 bdrms
56%
594
48%
100
39%
82
25%
23%
2 bdrms
50
15%
241
12%
7%
0
8
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
13 3 23%
29 14 48%
106 59 56%
241 93 39%
244 60 25%
191 29 15%
160 19 12%
7%
31
68 5
Copyright© Septem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber7,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 9 ●
greatervancouverboard area CONDO -AUGUST 202
SALES TO LISTINGSRATIO 25% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 5% VS 2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 7% VS 2021
▲ 7% VS 2021
▼ 5% VS 2021
▼ 38% VS 2021
Therewere3,969 condolistingsin theG reater Vancouverboard areain August,7% below Julyand 5% lowerthan August2021. Augustcondosalesdecreased by5% m onth-over-m onth, to1,006,and were38% below August2021.
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
Thesales-to-listing ratio forcondosin the G reater Vancouverboard area,at25% ,reflected aselers'm arket.
TOTALLISTINGS TOTALSALES
1,006 3,969
1,632 4,166
-35% -38% -5%
1,063 4,269
-5% -7%
Thecondom edian pricein Augustwas$690,000,a0.4% decreasefrom Julyand 7% aboveAugust2021. Theaveragesold pricewas$789,861,0.9% below last m onth;theaveragePSF salepricewas$917,up 0.2% to lastm onth.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$917 $789,861 $690,000 25%
$875 $739,437 $645,000 39%
$915 $796,893 $693,000 25%
0.2% -0.9% -0.4% 1.8%
5% 7% 7%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● AUG 2021 ● AUG 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
4,397
4,136
4,166
4,332 4,269
3,969
3,838 3,412
3,684
3,227
2,856
2,313
2,546
1,863
2,396
1,808 1,827
1,604
1,632
1,692
1,630
1,464
1,315
1,326
1,006
1,063
$735K $717K $698K $693K $690K
$725K $735K $740K
$645K $655K $655K $668K $680K
REBGV
FVREB
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
1200
41 3
1000
4+ bdrms
800
62
3 bdrms
600
503
46%
43%
400
33%
517
22%
2 bdrms
17%
2,201
200
13%
6% 6%
0
424
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
107 46 43%
615 284 46%
1,110 363 33%
792 172 22%
381 63 17%
287 36 13%
311 20 6%
366 22 6%
1,224
Copyright© Septem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber7,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 10 ●
fraservaley board area DETACHED -AUGUST 202
SALES TO LISTINGSRATIO 13% BALANCEDMARKET
▶ MARKETSUMMARY Therew ere 2,798 detached listingsin the FraserValey board areain August,8% below Julyand 52% higherthan August2021. Augustdetached hom esalesincreased by6% m onth-over-m onth,to363,and were57% below August 2021. Thesales-to-listing ratio fordetached in the FraserValey board area,at13% ,reflected abalanced m arket.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 0.3% VS 2021
▼ 1.2% VS 2021
▲ 52% VS 2021
▼ 57% VS 2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
13% 363 2,798
46% 840 1,843
-0.3% -1.2% -72% -57% 52%
11% 344 3,031
-6% -6% 14% 6% -8%
Thedetachedm edian pricein Augustwas$1,340,000,a 6% decreasefrom Julyand 1.2% below August2021.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
Theaveragesold pricewas$1,478,269,6% below last m onth and down 0.3% toAugust2021.
$1,568,274 $1,420,000
$1,478,269 $1,340,000
$1,482,581 $1,356,500
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
3,122
2,957
3,031
2,798
1.85
2,227
2,581
1.70
1.69
1.58
1.57
1,788
1,741
1.53
1,843
1,306
1,514
1,017
909
806
777
1,054
840
426
744
739
694
608
363
523
484
344
$1.75M $1.78M $1.70M
$1.61M $1.53M
$1.48M $1.42M $1.34M
$1.45M $1.56M $1.58M
$1.36M $1.41M
Aug.-21
Jul.-22
Aug.-22
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
800
600
400
37%
26%
23%
200
22%
19%
9%
7%
5%
3%
0
<$600K
$600-799K
$800-999K
$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M
$2.0M -2.49M
$2.5M -2.99M
$3M+
S-L RATIO SALES INVENTORY
72 19 26%
26 6 23%
132 29 22%
245 90 37%
506 95 19%
791 73 9%
357 26 7%
258 14 5%
411 11 3%
Copyright© Septem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber7,202 .Aldatafrom RealEstate BoardofGreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycan otbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.The recipientoftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
11
fraservaley board area TOWNHOME-AUGUST 202
SALES TO LISTINGSRATIO 24% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere1,155 townhom elistingsin theFraserValey board areain August,11% below Julyand 109% higher than August2021. Augusttownhom esalesincreased by20% m onth-over-m onth,to281,and were45% below August 2021. Thesales-to-listing ratio fortow nhom esin theFraser Valey board area,at24% ,reflected aselers'm arket. Thetownhom em edian pricein Augustwas$790,000,a 6% decreasefrom Julyand 7% aboveAugust2021. Theaveragesold pricewas$807,257,5% below last m onth;theaveragePSF salepricewas$512,down 4% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 6% VS 2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 9% VS 2021
▲ 7% VS 2021
▲ 109% VS 2021
▼ 45% VS 2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 93% 512 552
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
24% 281 1,155
-74% -45% 109%
18% 235 1,304
35% 20% -11%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$512 $807,257 $790,000
$534 $848,263 $840,000
-4% -5% -6%
$481 $739,621 $735,000
6% 9% 7%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● AUG 2021 ● AUG 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,246
1,3271,304
1,155
924
1,082
628
622
514
508
552
438
416
362
512
320
447
445
409
391
376
360
281
290
235
200
$930K $970K $949K
$913K $870K $855K
$840K $790K
$824K $870K
$735K $765K $786K
FVREB
REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
500
49
4+ bdrms
294
400
151
300
3 bdrms
618
200
37%
28% 27%
80
2 bdrms
19%
16%
100
238
13%
10%
0
5 1
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
18 5 28%
74 20 27%
344 126 37%
510 98 19%
153 25 16%
46 6 13%
10 1 10%
Copyright© Septem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber7,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 12 ●
fraservaley board area CONDO -AUGUST 202
SALES TO LISTINGSRATIO 25% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere1,234 condolistingsin theFraserValey board areain August,4% below Julyand 32% higherthan August2021. Augustcondosalesdecreased by15% m onth-over-m onth,to304,and were49% below August 2021. Thesales-to-listing ratio forcondosin the FraserValey board area,at25% ,reflected aselers'm arket. Thecondom edian pricein Augustwas$514,950,a4% decreasefrom Julyand 11% aboveAugust2021. Theaveragesold pricewas$540,021,3% below last m onth;theaveragePSF salepricewas$642,down 2% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 14% VS 2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 10% VS 2021
▲ 11% VS 2021
▲ 32% VS 2021
▼ 49% VS 2021
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 64% 598 937
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
25% 304 1,234
14% 10% 11% -61% -49% 32%
28% 356 1,290
-11% -15% -4%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$642 $540,021 $514,950
$658 $556,003 $535,000
-2% -3% -4%
$562 $489,516 $465,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● AUG 2021 ● AUG 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,231
1,314
1,234
1,290
905
937
849
997
764
660
801
779
542
598
614
407
562
555
548
517
451
415
420
304
373
356
$572K $570K $567K
$548K $540K $535K $515K
$529K $564K
$481K $510K
$465K $473K
FVREB
REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
600
4+ bdrms
4
500
400
16
3 bdrms
93
300
33%
200
191
2 bdrms
18%
17% 16%
17%
769
100
0
97
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
157 28 18%
618 206 33%
351 59 17%
61 10 16%
26 0 n/a
11 0 n/a
6 1 17%
4 0 n/a
368
Copyright© Septem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber7,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 13 ●
burnabynorth DETACHED -AUGUST 202
SALES TO LISTINGSRATIO 23% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 1.6% VS 2021
▲ 3% VS 2021
▲ 4% VS 2021
▼ 7% VS 2021
Therewere109 detachedlistingsin BurnabyN orth in August,11% below Julyand 4% higherthan August2021. Augustdetached hom esalesdecreased by11% m onth-over-m onth,to 25,and were7% below August 2021. Thesales-to-listing ratio fordetached in Burnaby N orth, at23% ,reflected aselers'm arket.
THISMONTH No. $1,872,272 $1,750,000 23% 25 109
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
$1,842,621 $1,700,000 26% 27 105
1.6% 3% -11% -7% 4%
$2,258,417 $2,082,500 23% 28 122
-17% -16% -0.1% -11% -11%
Thedetachedm edian pricein Augustwas$1,750,000,a 16% decreasefrom Julyand 3% aboveAugust2021.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
Theaveragesold pricewas$1,872,272,17% below last m onth and up 1.6% toAugust2021.
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
131
122
18
109
100
105
2.27
2.27
87
2.15
80
93
84
64
47
61
59
38
37
1.44
30
28
40
27
33
25
32
30
1.15
22
1.14
17
$2.30M $2.17M $2.12M
$2.13M $2.20M $2.04M $2.08M
$1.93M $1.99M
$1.75M
$1.70M $1.68M $1.82M
Aug.-21
Jul.-22
Aug.-22
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
30
67%
20
50%
10
19%
7%
0
<$600K
$600-799K
$800-999K
$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M
$2.0M -2.49M
$2.5M -2.99M
$3M+
S-L RATIO SALES INVENTORY
3 2 67%
30 15 50%
36 7 19%
15 1 7%
25 0 n/a
Copyright© Septem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber7,202 .Aldatafrom RealEstate BoardofGreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycan otbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.The recipientoftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
14
burnabynorth TOWNHOME-AUGUST 202
SALES TO LISTINGSRATIO 14% BALANCEDMARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 5% VS 2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 9% VS 2021
▲ 3% VS 2021
▼ 5% VS 2021
▼ 85% VS 2021
Therewere36 townhom elistingsin BurnabyN orth in August,5% below Julyand 5% lowerthan August2021. Augusttownhom esalesdecreased by38% m onth-over-m onth,to 5,and were85% below August 2021. Thesales-to-listing ratio fortow nhom esin Burnaby N orth,at14% ,reflected abalanced m arket. Thetownhom em edian pricein Augustwas$770,000,a 21% decreasefrom Julyand 3% aboveAugust2021. Theaveragesold pricewas$872,200,1.4% below last m onth;theaveragePSF salepricewas$647,down 3% to lastm onth.
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
$647 $872,200 $770,000 14% 5 36
33 38
-84% -85% -5%
$668 $884,500 $969,000 21% 8 38
-3% -1.4% -21% -34% -38% -5%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$615 $801,712 $750,000 87%
5% 9% 3%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● AUG 2021 ● AUG 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
35
38 37
38 36
33
33
33
29
26
25
23
24
23
18
17
15
18
18
17
16
12
12
1
8
5
$969K
$950K $989K $978K
$919K
$857K $883K $905K
$860K
$789K $750K
$770K
$750K
BURNABYNORTH REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
10
1
4+ bdrms
6
8
1
6
3 bdrms
20
4
30%
3
25%
2 bdrms
2
10
10%
0
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
2 0 n/a
10 3 30%
10 1 10%
7 0 n/a
4 1 25%
3 0 n/a
Copyright© Septem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber7,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 15 ●
burnabynorth CONDO -AUGUST 202
SALES TO LISTINGSRATIO 31% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 1.5% VS 2021
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 4% VS 2021
▲ 3% VS 2021
▼ 5% VS 2021
▼ 25% VS 2021
Therewere287 condolistingsin BurnabyN orth in August,5% below Julyand 5% lowerthan August2021.
Augustcondosalesincreased by10% m onth-over-m onth, to88,and were25% below August2021.
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 39% 117 302
% Change
No.
% Change
Thesales-to-listing ratio forcondosin Burnaby N orth,at 31% ,reflected aselers'm arket.
TOTALLISTINGS TOTALSALES
$835 $689,905 $676,000 31% 88 287
1.5% 4% 3% -21% -25% -5%
$867 $686,398 $671,000 27% 80 301
-4% 0.5% 0.7% 15% 10% -5%
Thecondom edian pricein Augustwas$676,000,a0.7% increasefrom Julyand 3% aboveAugust2021. Theaveragesold pricewas$689,905,0.5% abovelast m onth;theaveragePSF salepricewas$835,down 4% to lastm onth.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$823 $662,269 $655,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● AUG 2021 ● AUG 202
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
286
302
309
287
300 301
297
208
200
230
176
167
180
132
127
124
124
160
145
17
12
88
104
101
96
80
$778K $750K $729K
$693K $700K
$699K $650K $671K $676K
$655K $665K $650K $644K
BURNABYNORTH REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
100
4+ bdrms
80
60
64%
4
3 bdrms
31
42%
40
57
2 bdrms
20
17%
181
11%
7%
6%
0
27
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
4 0 n/a
47 30 64%
96 40 42%
81 14 17%
31 2 6%
9 1 11%
14 1 7%
5 0 n/a
75
Copyright© Septem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber7,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 16 ●
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