the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION
published December 2020
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
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 DATA ANALYST bbehan@rennie.com
Coquitlam
Langley
North Vancouver
Richmond Squamish
Surrey
Vancouver East Vancouver West West Vancouver
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 December 3, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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
a spring in the step of the fall market and a look ahead to 2021 The Vancouver Region’s housing market has retained the momentum that originated during the summer, with a robust level of sales through November. On balance, signs are pointing towards a continuation of recent trends into the new year.
for an elevated share of regional shares versus their more urban counterparts—and it seems clear that this trend is persisting. More housing tailwinds than headwinds in 2021. Despite the ubiquitous tumult of 2020, global housing markets—including ours—have been resilient. As we look ahead to 2021, there are a number of reasons to think that the markets for all things, including housing, will have a bumper year. Reasons for optimism include the widespread deployment of a covid vaccine and the corresponding potential for a return to full employment, upwardly- revised Canadian immigration targets that will support housing demand, continued historically-low interest rates, a more generous national first-time home buyer programme, and remaining regional pent-up housing demand from earlier in 2020 (to the tune of approximately 6,000 homes). While all of this must be balanced against the risks of unprecedented growth in public debt and uncertainty around the resolution of covid, here’s to looking forward to a year filled with prosperity and good health for all.
their respective past-decade averages, sales in 2020 were up 61% in September, 52% in October, and 43% in November. South of the Fraser markets are more active than those North of the Fraser The 2,048 sales in the Fraser Valley board area in November were 56% higher than one year ago, and 76% above the past- decade November average. This compares to the Greater Vancouver board area, where November sales were up only 23% compared to last year and 28% versus the long-run average. For the period spanning January through November 2020, Fraser Valley board area sales were up 25% versus the same period in 2019, compared to 19% higher in the Greater Vancouver board area. We have previously noted the impact that covid has had, at the margin, on the spatial distribution of sales in the Vancouver Region—with suburban markets accounting
As we near the end of a rollercoaster year that has been 2020, we share the latest data and three insights into our housing market. The fall market sure feels like spring. On the heels of almost-record-setting and actual-record-setting sales counts in the Vancouver Region in each of August, September, and October, November’s showing was comparatively modest. That said, the 5,127 sales tallied across the region last month were the most for a November since 2015, and the third-highest for any November ever. Additionally, November marked the fifth consecutive month of at least 5,000 sales, the first time we have seen this since early 2016. All of this puts our recent monthly sales counts in the company of typical springtime sales counts (which have averaged between 4,800 and 5,200 monthly between March and May over the past decade). And compared to
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 December 3, 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
House $2,488,888 | FORT LANGLEY Lt. 1 22176 88 Avenue
Townhome $2,388,000 | COAL HARBOUR 502 Cardero Street
Crystallis $1,739,000 | WEST END 1904-1020 Harwood Street 3 Bed, 1,681 SF Janette Fricker PREC* 604.787.2862
6 Bed, 6,497 SF Randy Rinaldo 604.781.4995
3 Bed, 2,042 SF Salina Kai PREC* 604.773.7013
Contessa
Icon
The Trails
$1,290,000 | YALETOWN 507-638 Beach Crescent 2 Bed, 1,057 SF
$1,229,900 | NORTH VAN
$1,190,000 | VAN WEST 301-5289 Cambie Street 2 Bed, 926 SF
123-525 E 2nd Street 3 Bed, 1,531 SF
Vivien Ma PREC* 604.828.2268
Samson Danniels 778.989.2454
Ross Leathley 604.802.5468
Crystallis
Cascade City
House
$1,098,000 | SURREY
$1,050,000 | WEST END 501-1020 Harwood Street 2 Bed, 1,038 SF
$1,049,900 | RICHMOND 1206-5788 Gilbert Road 3 Bed, 1,034 SF
10278 124 Street 6 Bed, 2,451 SF Sheliza Vellani 604.710.3681
Wilda Agassiz 604.290.6754
Jessica Lozada PREC* 604.360.0025
The Five Points $780,000 | NORTH VAN
Brooklynn
Townhome
$749,900 | NORTH VAN 209-1496 Charlotte Road 2 Bed, 1,042 SF
$720,000 | MAPLE RIDGE
215-711 W 14th Street 2 Bed, 884 SF
30-10525 240 Street 4 Bed, 2,404 SF Artyom Seroff PREC* 778.223.0033
Sora Chung 604.809.5162
Mike Ross 778.987.8874
Ridge Park Gardens $679,900 | NORTH VAN 403-2059 Chesterfield Avenue 2 Bed, 991 SF
The Carleton
Parc East
$629,900 | BURNABY 102-4223 Hastings Street 2 Bed, 792 SF Lorenzo Daminato PREC* 604.657.8121
$629,000 | PORT COQUITLAM
405-2382 Atkins Avenue 2 Bed, 1,001 SF
Alice Ristak PREC* 604.809.7218
Andy Mah 604.779.9382
Coast $597,999 | TSAWWASSEN 404-4690 Hawk Lane 2 Bed, 956 SF Jeremy Sellmer PREC* 778.984.4028
Delta Rise $535,000 | DELTA 1607-11967 80 Avenue 2 Bed, 832 SF Nagib Karim PREC* 604.999.5887
The Crescent $499,000 | PORT COQUITLAM 103-2559 Parkview Lane 2 Bed, 962 SF Brandon Blue PREC* 604.999.7792
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 December 3, 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 NOVEMBER vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 10 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
27 % DOWN
10 % UP
-
51 % UP
34 %
The number of detached listings in the Vancouver Region in November, at 6,349, was 17% lower month-over-month and 27% lower year-over-year. The 2,130 detached sales in November were 12% below last month but 51% higher vs last year. The sales-to-listings ratio increased to 34%, as the Vancouver Region’s detached market remained in seller’s market territory. The benchmark price in November was $1.33M, 1.2% above October and 10% higher vs November 2019. The average sold price was $1.50M, 1.9% above the previous month and 10% higher vs November 2019.
VS
VS
VS
VS
VS
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
6,349 2,130
7,622 2,428
-17% -12%
8,665 1,406
-27% 51% 107%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
34%
32%
5%
16%
$1,331,700 $1,316,300 1.2% $1,207,000 $1,502,070 $1,473,462 1.9% $1,366,441
10% 10%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.33
$1.30
$1.27
$1.25
$1.24
$1.22
$1.21
1.89
1.87
1.81
8,665
1.08
1.07
8,248
1.06
8,088
7,220
7,340
6,349
6,674
2,348
2,126
2,130
1,496
1,406
891
841
Nov-19
Oct-20
Nov-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 December 3, 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 NOVEMBER vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 6 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
19 % DOWN
5 % UP
4 % UP
42 % UP
SELLER’S 48 %
The number of townhome listings in the Vancouver Region decreased 18% from last month, settling at 2,226, and were 19% below November 2019. Townhome sales, at 1,067, were 17% lower vs last month but 42% above November 2019. The sales-to-listings ratio was unchanged at 48% in November, as the Vancouver Region’s townhome segment remained in a seller’s market. The benchmark price in November was 0.2% above October, at $705,500, and was 6% higher year-over-year. The average sold price was $740,968 in November, (decreasing 2% vs October) while the average PSF sales price was $496 (decreasing 1.4%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
2,226 1,067
2,704 1,288
-18% -17% 0.6%
2,756
-19% 42% 76%
TOTAL SALES
749 27%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
48%
48%
$705,500 $703,800 $740,968 $756,374
0.2% $667,500 -2% $705,823 -1.4% $478
6% 5% 4%
$496
$503
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$705,500
$667,500 $674,000 $682,500 $686,500 $693,600 $701,000
3,057
2,980
2,756
2,468
2,405
2,226
2,073
1,189
1,089
1,067
792
749
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
459
599
3 bdrms
1,165
259
<3 bdrms
. . . . 0 0 0 0
604
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 December 3, 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 NOVEMBER vancouver region
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO 25 %
MARKET SUMMARY ›
0.7 % DOWN 0.8 % DOWN
23 % UP
13 % UP
There were 7,245 condo listings in the Vancouver Region in November, 12% below October but 23% higher vs November 2019. November condo sales decreased by 13% month- over-month but were 13% above November 2019. The sales-to-listings ratio for condos in the Vancouver Region decreased to 25%, remaining a seller’s market. The condo benchmark price in November was $651,000, decreasing 0.7% from October but 4% higher vs November 2019. The average sold price was $599,391, 3% below last month; the average PSF sales price was $700, down 0.5% from last month.
VS
VS
VS
VS
VS
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
7,245 1,801
8,253 2,072
-12% -13% -1.0%
5,880 1,590
23% 13% -8%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
25%
25%
27%
$651,000 $655,400 $599,391 $619,627
-0.7% $628,500 -3% $604,163 -0.5% $705
4%
-0.8% -0.7%
$700
$703
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$661,000 $657,300 $656,000 $656,600 $651,000
$628,500 $638,500
8,616
7,767
7,245
6,211
5,880
5,783
4,717
2,079
1,832
1,801
1,590
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
107
3+ bdrms
BUYER'S MARKET
795
1,033
2 bdrms
4,247
661
<2 bdrms
. . . . 0 0 0 0
2,207
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 December 3, 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 NOVEMBER greater vancouver board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 9 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
25 % DOWN
10 % UP
-
29 % UP
SELLER’S 27 %
Detached listings in the REBGV decreased to 3,978 in November, 14% below October and 25% lower vs November 2019. Detached sales, at 1,073, decreased 21% compared to October but were 29% higher vs November 2019. The sales-to-listings ratio decreased to 27%, as the REBGV detached market remained in seller’s market territory. The detached benchmark price in November was $1.54M, up 1.0% month-over-month and a 9% increase year-over-year. The average sold price was $1.75M, up 1.9% from the previous month and 10% higher year-over-year.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
3,978 1,073
4,612 1,350
-14% -21%
5,301
-25% 29% 72%
TOTAL SALES
832 16%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
27%
29%
-8%
$1,538,900 $1,523,800 1.0% $1,406,900 $1,746,902 $1,714,380 1.9% $1,583,142
9%
10%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.54
$1.51
$1.48
$1.46
$1.44
$1.42
$1.41
1.89
1.87
1.82
5,301
4,960
4,810
1.20
1.19
1.18
4,403
4,358
4,184
3,978
1,321
1,133
1,073
859
832
544
442
Nov-19
Oct-20
Nov-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 December 3, 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 NOVEMBER
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 6 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
21 % DOWN
4 % UP
4 % UP
35 % UP
SELLER’S 43 %
The number of townhome listings in the REBGV decreased to 1,238 in November, 16% below October and 21% lower year-over-year. Townhome sales in November, at 535, were down 21% vs October but 35% above last year. The sales-to-listings ratio decreased to 43% as the REBGV townhome market remained a seller’s market. The townhome benchmark price in November was $814,800, 0.2% above October and 6% higher than in November 2019. The average sold price was $859,518, with an average PSF sales price of $599 (down 2% and 1.8%, respectively, vs October).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,238
1,474
-16% -21%
1,577
-21% 35% 72%
TOTAL SALES
535 43%
678 46%
397 25%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
-6%
$814,800 $813,000 $859,518 $880,829
0.2% $771,500 -2% $829,139 -1.8% $578
6% 4% 4%
$599
$610
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$814,800
$771,500 $781,800 $790,200 $792,700 $797,700 $809,900
1,689
1,677
1,577
1,372
1,368
1,238
1,180
634
535
534
409
397
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
85
4+ bdrms
BUYER'S MARKET
210
304
3 bdrms
649
146
<3 bdrms
. . . . 0 0 0 0
381
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 December 3, 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 NOVEMBER
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
2 % DOWN
0.5 % DOWN
26 % UP
13 % UP
SELLER’S 24 %
The number of condo listings in the REBGV decreased to 5,677 in November, 12% below October but 26% higher vs November 2019. At 1,372, condo sales were 13% lower month-over- month but 13% higher year-over-year. The sales-to-listings ratio was unchanged at 24%, as the REBGV condo market remained favourable to sellers. The condo benchmark price in November was $676,500, down 1.0% from October but up 3% com- pared to November 2019. The average sold price was $657,097 (decreasing 4% from October) with an average PSF sales price of $774 (0.4% lower vs October).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
5,677 1,372
6,454 1,570
-12% -13% -0.7%
4,499 1,217
26% 13% -11%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
24%
24%
27%
$676,500 $683,500 $657,097 $685,300
-1.0% $654,000 -4% $670,734 -0.4% $778
3%
-2%
$774
$777
-0.5%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$690,000 $686,500 $682,500 $683,500 $676,500
$654,000 $666,000
6,683
5,926
5,677
4,662
4,499
4,357
3,609
1,598
1,402
1,372
1,217
1,181
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
86
3+ bdrms
BUYER'S MARKET
663
753
2 bdrms
3,190
533
<2 bdrms
. . . . 0 0 0 0
1,828
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 December 3, 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 NOVEMBER fraser valley board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 11 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
30 % DOWN
19 % UP
-
84 % UP
SELLER’S 45 %
The number of November detached listings in the Fraser Valley board area was 21% lower vs October (at 2,371) and 30% below November 2019. Detached sales decreased 1.9% from October, to 1,057, but were up 84% vs November 2019. The sales-to-listings ratio increased to 45%, as the board area’s condo market remained in seller’s market territory. The benchmark price in November was $1.06M, up 1.4% month-over-month and 11% higher year-over-year. The average sold price in November was $1.25M, 7% higher month-over-month and 19% higher year-over-year.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
2,371 1,057
3,010 1,078
-21% -1.9%
3,364
-30% 84% 161%
TOTAL SALES
574 17%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
45%
36%
24%
$1,061,500 $1,046,900 1.4% $952,200
11% 19%
$1,253,532 $1,171,756
7% $1,052,339
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$1,061,500
$1,008,000 $1,032,700
$952,200 $960,800 $987,800 $990,400
1.86
1.84
1.77
1.31
1.31
1.29
3,288
3,364
3,278
2,982
2,817
2,371
2,490
1,057
1,027
993
637
574
399
347
Nov-19
Oct-20
Nov-20
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES
TOTAL INVENTORY
S L RATIO
. . . 0 0 0 0 0 S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET
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 December 3, 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 NOVEMBER fraser valley board area
AVERAGE PRICE
AVERAGE PSF PRICE 7 % UP
BENCHMARK PRICE 6 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
16 % DOWN
10 % UP
51 % UP
SELLER’S 54 %
The number of townhome listings in the Fraser Valley board area decreased to 988 in November, 20% below last month and 16% lower than last year. At 532, townhome sales were down 13% vs October but 51% above last year. The sales-to-listings ratio, at 54%, remained favour- able market for sellers. The benchmark price in November was $570,100, up 0.2% from last month and 6% higher vs last year. The average sold price, at $621,750, was 0.6% higher between October and November while the average PSF sales price was unchanged (at $392).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
988 532 54%
1,230
-20% -13%
1,179
-16% 51% 80%
TOTAL SALES
610 50%
352 30%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
9%
$570,100 $569,200 $621,750 $618,046
0.2% $538,700 0.6% $566,742
6%
10%
$392
$384
2%
$366
7%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$567,300 $570,100
$538,700 $541,800 $549,100 $555,000 $563,200
1,368
1,303
1,179
1,100
988
1,033
893
555
555
532
383
352
240
223
FVREB
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
124
4+ bdrms
BUYER'S MARKET
249
295
3 bdrms
516
113
<3 bdrms
. . . . 0 0 0 0 QD QD
223
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 December 3, 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 NOVEMBER
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 5 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
7 % UP
0.9 % DOWN
14 % UP
15 % UP
SELLER’S 27 %
There were 1,568 condo listings in the Fraser Valley board area in November, 13% below last month but 14% higher vs November of last year. At 429, condo sales were 15% lower month-over- month but 15% above November 2019. Decreasing to 27%, the board area’s condo sales-to- listings ratio reflected seller’s market conditions. The condo benchmark price in November was $435,900, 0.3% above October but 5% higher vs November 2019. The average sold price was $414,840 (0.1% above October), while the average PSF sales price was $464 (1.9% below October).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,568
1,799
-13% -15%
1,381
14% 15% 1.3%
TOTAL SALES
429 27%
502 28%
373 27%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
-2%
$435,900 $434,600 $414,840 $414,237
0.3% $416,700 0.1% $386,958 -1.9% $468
5% 7%
$464
$473
-0.9%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$416,700 $421,300 $436,900 $433,700 $437,300 $436,900 $435,900
1,933
1,841
1,568
1,549
1,426
1,381
1,108
481
430
429
373
331
246
191
FVREB
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
21
BALANCED
3+ bdrms
132
BUYER'S MARKET
280
2 bdrms
1,057
128
<2 bdrms
. . . . 0 0 0 0 QD QD
379
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 December 3, 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 NOVEMBER burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 10 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
15 % DOWN
12 % UP
-
63 % UP
34 %
The number of detached listings in Burnaby North in November, at 131, was 11% lower month-over- month and 15% lower year-over-year. With 44 in November, detached sales were 2% below last month but 63% above last year. The sales-to-listings ratio increased to 34%, as Burnaby North’s detached market remained favour- able to sellers. The benchmark price in November was $1.52M, 1.4% above October and 10% above November 2019. The average sold price was $1.68M, up 1.1% from the previous month and 12% above November 2019.
VS
VS
VS
VS
VS
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 147
% Change
No. 154
% Change
TOTAL LISTINGS
131
-11% -2% 10%
-15% 63% 92% 10% 12%
TOTAL SALES
44
45
27
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
34%
31%
18%
$1,523,400 $1,502,200 1.4% $1,380,700 $1,684,618 $1,666,609 1.1% $1,497,610
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.52
$1.50
$1.48
$1.47
$1.45
$1.42
$1.38
2.05
2.01
1.90
1.22
1.22
1.21
154
147
142
131
112
111
110
49
44
36
31
27
24
16
Nov-19
Oct-20
Nov-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 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 December 3, 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 NOVEMBER
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
16 % UP
0.5 % UP
18 % DOWN
57 % UP
SELLER’S 42 %
The number of townhome listings in Burnaby North decreased 4% from last month, settling at 53, and were 18% below November 2019. Townhome sales, at 22, were unchanged vs last month and 57% above November 2019. The sales-to-listings ratio increased to 42% in November, as Burnaby North’s townhome segment remained in a seller’s market. The benchmark price in November was down 0.5% month-over-month, to $742,900, but was 2% above November 2019. The average sold price was $782,359 in November, (relatively unchanged vs October) while the average PSF sales price was $560 (decreasing 5%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
53 22
55 22
-4%
65 14
-18% 57% 93% 16% 0.5% 2%
TOTAL SALES
0.0%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
42%
40%
4%
22%
$742,900 $746,400 $782,359 $782,107
-0.5% $728,500 0.0% $674,464
$560
$589
-5%
$557
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$728,500 $720,400 $728,200 $719,300 $736,000 $731,900 $742,900
67
66
65
53
52
46
36
25
22
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
5
4+ bdrms
BUYER'S MARKET
3
9
3 bdrms
26
8
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD QD
24
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 December 3, 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 NOVEMBER burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
0.2 % UP
0.9 % UP
70 % UP
0.0 %
SELLER’S 23 %
There were 373 condo listings in Burnaby North in November, 11% below October but 70% higher vs November 2019. November condo sales decreased by 10% month- over-month, to 86, and were unchanged vs November 2019. The sales-to-listings ratio for condos in Burnaby North, at 23%, remained favourable to sellers. The condo benchmark price in November was $611,100, a 0.6% decrease from October but 3% above November 2019. The average sold price was $603,063, 0.6% above last month; the average PSF sales price was $710, up 0.4% from last month.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 417
% Change
No. 220
% Change
TOTAL LISTINGS
373
-11% -10% 0.2%
70% 0.0% -41% 0.2% 0.9% 3%
TOTAL SALES
86
96
86
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
23%
23%
39%
$611,100 $614,800 $603,063 $599,590
-0.6% $595,900 0.6% $601,985
$710
$707
0.4%
$704
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$595,900 $606,900 $616,300 $623,500 $610,900 $613,400 $611,100
429
373
357
268
252
220
178
111
86
86
85
71
55
48
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
7
3+ bdrms
BUYER'S MARKET
29
52
2 bdrms
246
27
<2 bdrms
. . . . 0 0 0 0 QD QD QD
98
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 December 3, 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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