the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 14 SUB-MARKETS IN THE VANCOUVER REGION
published March 2023
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 © 2023 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 March 2,2023. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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
( what’s the story ) Inventory?
Despite February representing the 8th consecutive month with fewer than 3,000 MLS sales in the Vancouver Region, prices increased for all home types. Clues as to why lie in the dynamics of the region’s housing inventory.
were at least 60 days old. Ultimately, the reality of the supply side of the housing market here in the Vancouver Region is that more affordable and more desirable homes are in much greater relative demand today than are their counterparts, which has the effect of rendering existing inventory even more constrained than it appears at first blush. Tight housing supply has meant that even though sales counts failed to reach the 3,000-mark for the 8th consecutive month in February, and high interest rates continue to put pressure on affordability, benchmark prices actually increased in February—in fact, they increased for every home type, including a second consecutive month of increases for condos. With the Bank of Canada hitting the brakes on interest rate hikes, some might say, we’ll find a bright day sooner than later. Indeed, this may be the case—though it will be some time yet before we see a return to historically- typical levels of inventory and sales that define a stable and well-functioning housing market in this region.
I’m sure, you’ve heard it all before, but the early part of the year is typically characterized by growth in the number of new listings that come to market. In turn, this typically brings an expansion of overall housing inventory, even as sales counts also typically grow over the same period. And while inventory did expand in the Vancouver Region in February, the growth was far from typical for the month and, in turn, continued to impact the overall market dynamic. There were 11,362 listings in this region in February—the most since last November, a 6% increase from January, and 16% more than at this time last year; having said that, inventory remains 22% below the past-decade February average. New listings, meanwhile, apparently need a little time to wake up, as February’s total of 5,254 was 42% less than that of February 2022, 27% less than the past 10-year average for the month, and represented the fewest new listings in any
February since 1986. Against the backdrop of sales activity, these supply-side features have helped to yield conditions favouring sellers, with there being 4.2 months-of-inventory (MOI) in February. Notably, 58% of all homes available for sale last month were listed at prices below $1.5 million (including 24% below $750,000), compared to 79% of homes having sold below $1.5 million (including 39% below $750,000). Indeed, conditions in this price segment of the market—where the average buyer and seller participates—are tilted even further in favour of sellers, with only 3.1 MOI. Interestingly, while the age of homes available for sale hasn’t changed much over the past year, the share of those that has been listed for at least 60 days—in other words, those that were listed sometime in 2022—reached 36% by the end of February, up substantially from last February’s 22% of all listings that
Copyright © 2023 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 March 2,2023. 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
Altus White Rock $2,999,900 | WHITE ROCK
House
House
$3,249,000 | SQUAMISH
$2,980,000 | BURNABY SOUTH
1202 - 1526 Finlay Street 3 Bed, 2,385 SF
1066 Jay Crescent 5 Bed, 4,585 SF
5471 Elsom Avenue 5 Bed, 3,521 SF Phil Chang PREC* 604.754.6678
Joanne Hoekstra 604.722.6645
Jeevan Gill 604.617.2159
8x On The Park
House
House
$2,699,000 | DOWNTOWN 2906 - 1111 Richards Street 3 Bed, 1,753 SF
$2,588,000 | SQUAMISH 16 - 3385 Mamquam Road 6 Bed, 3,682 SF Shawn Wentworth PREC* 604.379.6731
$2,499,000 | WEST VAN
1010 Keith Road 3 Bed, 2,183 SF
Natalie Genest PREC* 604.928.7330
Shannon Pickering 604.812.1887
Condo
Icon 1
Monument
$1,949,000 | CAMBIE 506 - 5289 Cambie Street 3 Bed, 1,304 SF
$1,899,000 | YALETOWN 2205 - 638 Beach Crescent 2 Bed, 1,058 SF Lorenzo Daminato PREC* 604.657.8121
$2,099,900 | KITSILANO 304 - 2485 Larch Street 2 Bed, 1,228 SF Candace Cheung PREC* 604.649.4328
Derek Kai PREC* 604.868.1666
House
House
House
$1,449,000 | NORTH DELTA
$1,898,000 | COQUITLAM
$1,148,900 | SQUAMISH
11051 63 Avenue 4 Bed, 3,351 SF
2912 Hedgestone Court 5 Bed, 5,121 SF Paul Y. Wong PREC* 604.716.0483
1826 Willow Crescent 3 Bed, 1,406 SF
Brandon Blue PREC* 604.999.7792
Maggie Yip 778.237.9608
Platform
Seagate
Condo
$1,098,000 | PORT MOODY
$1,049,900 | KITSILANO 302 - 2555 W. 4th Avenue 2 Bed, 1,009 SF
$959,000 | YALETOWN 2701 - 1323 Homer Street 2 Bed, 935 SF
5 - 83 Moody Street 3 Bed, 1,380 SF Brandan Price PREC* 604.765.9555
Art Seroff PREC* 778.223.0033
Carmen Hou 604.500.7611
Navio At The Creek $799,800 | MT. PLEASANT 301 - 1678 Pullman Porter Street 1 Bed, 610 SF Danny Chow PREC* 604.765.2469
Park Marine $649,000 | WEST VAN 804 - 1930 Marine Drive 1 Bed, 622 SF Mandy Olexson 778.868.9432
Maya
$749,000 | COQUITLAM 102 - 1188 Johnson Street 2 Bed, 845 SF
Eric Zamora PREC* 778.389.4556
Copyright © 2023 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 March 2, 2023. 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 -FEBRUARY 2023
SALES TO LISTINGSRATIO 17% BALANCEDMARKET
▶ MARKETSUMMARY Therewere4,816 detached listingsin theVancouver Region in February,6% aboveJanuaryand 4% higher than February2022. February detached hom esalesincreased by 63% m onth-over-m onth,to 839,and were52% below February2022. Thesales-to-listing ratio fordetached in the Vancouver Region,at17% ,reflected abalanced m arket. Thedetachedm edian pricein Februarywas$1,550,000, a7% increasefrom Januaryand 18% below February 2022. Theaveragesold pricewas$1,815,326,8% abovelast m onth and down 15% toFebruary2022.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 15% VS 2022
▼ 18% VS 2022
▲ 4% VS 2022
▼ 52% VS 2022
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
17% 839 4,816
1,747 4,609
-15% -18% -54% -52% 4%
11% 514 4,553
54% 63% 6%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$2,139,407 $1,885,000 38%
$1,674,222 $1,450,000
8% 7%
$1,815,326 $1,550,000
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
7,630
7,232
6,847
7,416
6,495
6,997
5,942
1.84
1.80
1.79
5,512
6,329
4,816
1.51
4,786
4,609
4,553
1.39
1.33
2,312
1,747
1,084
906
888
803
1,561
634
514
1,281
839
873
857
$1.83M $1.80M $1.73M $1.89M
$1.65M $1.60M $1.53M $1.52M $1.54M $1.50M $1.50M
$1.45M $1.55M
Feb-22
Jan-23
Feb-23
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
1400
1200
1000
800
45%
600
40%
28%
400
22%
21%
19%
12%
11%
200
6%
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+ 1,391 85 6%
S-L RATIO SALES INVENTORY
121 25 21%
67 13 19%
162 65 40%
291 132 45%
538 152 28%
1,037 227 22%
647 79 12%
562 61 11%
Copyright© March2,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMarch2,2023.Aldatafrom RealEstateBoardof GreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipient oftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained from aren ieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
5
vancouverregion TOWNHOME-FEBRUARY 2023
SALES TO LISTINGSRATIO 36% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere1,489 townhom elistingsin theVancouver Region in February,1.6% aboveJanuaryand 21% higher than February2022. Februarytownhom esalesincreased by90% m onth-over-m onth,to 543,and were40% below February2022. Thesales-to-listing ratio fortow nhom esin theVancouver Region,at36% ,reflected aselers'm arket. Thetownhom em edian pricein Februarywas$858,000,a 6% increasefrom Januaryand 16% below February2022. Theaveragesold pricewas$944,964,5% abovelast m onth;theaveragePSF salepricewas$635,up 8% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 15% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 14% VS 2022
▼ 16% VS 2022
▲ 21% VS 2022
▼ 40% VS 2022
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
36% 543 1,489
74% 911 1,227
-15% -14% -16% -51% -40% 21%
20% 286 1,466
87% 90% 1.6%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$635 $944,964 $858,000
$585 $899,568 $810,000
8% 5% 6%
$743 $1,095,367 $1,025,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● FEB 202 ● FEB 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
2,183
2,447
2,437
2,10
2,375
1,945
2,207
2,005
1,679
1,489
1,250
1,521
1,466
1,227
770
91
895
565
513
801
543
474
459
412
338
286
$1.02M $1.00M
$983K $925K $915K
$894K $850K $850K $870K $860K $838K
$810K $858K
VANCOUVERREGION REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
106
400
4+ bdrms
328
300
297
3 bdrms
803
50% 52%
200
42%
36%
32%
28%
132
25%
2 bdrms
100
322
13%
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
33 14 42%
80 40 50%
324 170 52%
441 142 32%
243 88 36%
174 48 28%
133 33 25%
61 8 13%
36
Copyright© March2,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMarch2,2023.Aldatafrom RealEstateBoardofGreaterVancouver andFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 6 ●
vancouverregion CONDO -FEBRUARY 2023
SALES TO LISTINGSRATIO 26% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 8% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 10% VS 2022
▼ 9% VS 2022
▲ 27% VS 2022
▼ 49% VS 2022
Therewere4,606 condolistingsin theVancouverRegion in February,6% aboveJanuaryand 27% higherthan February2022. February condo salesincreased by 58% m onth-over-m onth,to1,219,and were49% below February2022. Thesales-to-listing ratio forcondosin the Vancouver Region,at26% ,reflected aselers'm arket. Thecondom edian pricein Februarywas$630,000,a0% changefrom Januaryand 9% below February2022. Theaveragesold pricewas$719,034,3% abovelast m onth;theaveragePSF salepricewas$842,up 3% to lastm onth.
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
1,219 4,606
2,382 3,641
-8% -10% -9% -60% -49% 27%
18% 773 4,365
49% 58% 6%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$842 $719,034 $630,000 26%
$916 $795,655 $695,000 65%
$814 $695,676 $630,000
3% 3% 0%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● FEB 202 ● FEB 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
5,394
5,592
5,275
5,676
5,499 5,526
5,232
4,606
4,101
4,704
4,365
4,138
3,641 3,16
2,055
1,732
2,382
2,242
1,310
1,274
1,121
1,219
1,418
1,172
925
773
$695K $685K $680K
$667K $650K $640K $645K $621K $635K $625K $625K $630K $630K
VANCOUVERREGION REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
1200
42 1
4+ bdrms
1000
800
78
3 bdrms
600
539
38% 36%
400
29%
652
22%
2 bdrms
16%
2,536
200
10%
5% 6%
0
488
<$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
256 73 29%
1,160 446 38%
1,172 418 36%
710 158 22%
417 65 16%
271 26 10%
277 14 5%
343 19 6%
1,489
Copyright© March2,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMarch2,2023.Aldatafrom RealEstateBoardofGreaterVancouver andFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 7 ●
greatervancouverboard area DETACHED -FEBRUARY 2023
SALES TO LISTINGSRATIO 17% BALANCEDMARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 10% VS 2022
▼ 15% VS 2022
▲ 5% VS 2022
▼ 49% VS 2022
Therew ere 2,968 detached listingsin the G reater Vancouverboard areain February,6% aboveJanuaryand 5% higherthan February2022. February detached hom esalesincreased by 71% m onth-over-m onth,to 516,and were49% below February2022. Thesales-to-listing ratio fordetached in the G reater Vancouverboard area,at17% ,reflected abalanced market. Thedetachedm edian pricein Februarywas$1,710,000, a8% increasefrom Januaryand 15% below February 2022. Theaveragesold pricewas$2,055,319,8% abovelast m onth and down 10% toFebruary2022.
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
17% 516 2,968
1,008 2,816
-10% -15% -51% -49% 5%
11% 301 2,801
62% 71% 6%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$2,292,180 $2,011,000 36%
$1,909,895 $1,580,000
8% 8%
$2,055,319 $1,710,000
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
4,499
4,268
4,148
3,954
4,375
4,187
3,598
1.81
3,279
3,741
1.67
1.65
2,968
1.56
1.54
2,816
2,928
2,801
1.38
1,299
1,008
579
490
958
374
301
796
516
657
530 524
532
$2.01M $2.00M $1.99M
$1.90M $1.80M
$1.74M $1.70M $1.68M $1.72M $1.69M $1.70M
$1.58M $1.71M
Feb-22
Jan-23
Feb-23
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
1200
1000
800
64%
600
40%
400
32%
26%
15%
15%
200
13%
9%
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+ 1,108 74 7%
S-L RATIO SALES INVENTORY
44 4 9%
34 5 15%
67 27 40%
108 69 64%
234 75 32%
599 153 26%
396 58 15%
378 51 13%
Copyright© March2,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMarch2,2023.Aldatafrom RealEstateBoardof GreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipient oftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained from aren ieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
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8
greatervancouverboard area TOWNHOME-FEBRUARY 2023
SALES TO LISTINGSRATIO 37% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 12% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 10% VS 2022
▼ 6% VS 2022
▲ 34% VS 2022
▼ 36% VS 2022
Therewere804 townhom elistingsin theG reater Vancouverboard areain February,3% aboveJanuaryand 34% higherthan February2022. Februarytownhom esalesincreased by157% m onth-over-m onth,to 301,and were36% below February2022. Thesales-to-listing ratio fortow nhom esin theG reater Vancouverboard area,at37% ,reflected aselers'm arket. Thetownhom em edian pricein Februarywas $1,035,000,a9% increasefrom Januaryand 6% below February2022. Theaveragesold pricewas$1,080,882,2% below last m onth;theaveragePSF salepricewas$739,up 0.3% to lastm onth.
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 78% 467 599
% Change
No. 15% 117 782
% Change
TOTALLISTINGS TOTALSALES
37% 301 804
-12% -10% -6% -52% -36% 34%
0.3% -2% 9% 150% 157% 3%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$739 $1,080,882 $1,035,000
$737 $1,105,723 $947,500
$841 $1,196,262 $1,102,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● FEB 202 ● FEB 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,140
1,109
1,000
1,127
1,107
1,066
1,051
921
755
804
782
629
770
599 467
409
504
301
441
282
268
184
240
223
223
17
$1.10M $1.15M $1.10M
$1.03M $1.01M
$1.03M
$1.02M $948K $985K $948K
$990K $942K $928K
REBGV
FVREB
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
61
150
4+ bdrms
143
66%
175
100
3 bdrms
457
50%
46%
42%
36%
28% 25%
50
61
2 bdrms
175
13%
0
4
<$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 6 46%
26 11 42%
96 63 66%
169 61 36%
152 76 50%
159 44 28%
128 32 25%
61 8 13%
29
Copyright© March2,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMarch2,2023.Aldatafrom RealEstateBoardofGreaterVancouver andFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 9 ●
greatervancouverboard area CONDO -FEBRUARY 2023
SALES TO LISTINGSRATIO 26% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 6% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 8% VS 2022
▼ 7% VS 2022
▲ 23% VS 2022
▼ 50% VS 2022
Therewere3,534 condolistingsin theG reater Vancouverboard areain February,6% aboveJanuaryand 23% higherthan February2022. February condo salesincreased by 62% m onth-over-m onth,to 933,and were50% below February2022. Thesales-to-listing ratio forcondosin the G reater Vancouverboard area,at26% ,reflected aselers'm arket. Thecondom edian pricein Februarywas$680,000,a 1.4% decreasefrom Januaryand 7% below February 2022. Theaveragesold pricewas$778,632,3% abovelast m onth;theaveragePSF salepricewas$913,up 3% to lastm onth.
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
26% 933 3,534
1,864 2,875
-59% -50% 23%
17% 575 3,348
54% 62% 6%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$968 $847,474 $735,000 65%
$913 $778,632 $680,000
$890 $758,855 $690,000
3% 3% -1.4%
-6% -8% -7%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● FEB 202 ● FEB 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
4,160
4,038
4,358
4,298
4,223
4,193
3,996
3,534
3,707
3,348
3,250
2,875
3,163
2,315
1,864
1,604
1,326
1,692
1,005
997
933
1,062
893
848
708
575
$735K $740K $735K
$717K $698K $694K $690K $670K $677K $680K $685K $690K $680K
REBGV
FVREB
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
1000
1
4+ bdrms
800
38
600
64
3 bdrms
466
49%
400
39%
477
23%
22%
2 bdrms
200
16%
1,879
10%
5% 6%
0
391
<$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
120 27 23%
572 279 49%
914 358 39%
666 148 22%
393 63 16%
263 25 10%
273 14 5%
333 19 6%
1,151
Copyright© March2,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMarch2,2023.Aldatafrom RealEstateBoardofGreaterVancouver andFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 10 ●
fraservaley board area DETACHED -FEBRUARY 2023
SALES TO LISTINGSRATIO 17% BALANCEDMARKET
▶ MARKETSUMMARY Therew ere 1,848 detached listingsin the FraserValey board areain February,5% aboveJanuaryand 3% higher than February2022. February detached hom esalesincreased by 52% m onth-over-m onth,to 323,and were56% below February2022. Thesales-to-listing ratio fordetached in the FraserValey board area,at17% ,reflected abalanced m arket. Thedetachedm edian pricein Februarywas$1,311,000, a2% increasefrom Januaryand 26% below February 2022. Theaveragesold pricewas$1,431,933,7% abovelast m onth and down 26% toFebruary2022.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 26% VS 2022
▼ 26% VS 2022
▲ 3% VS 2022
▼ 56% VS 2022
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
17% 323 1,848
41% 739 1,793
-26% -26% -58% -56% 3%
12% 213 1,752
44% 52% 5%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$1,341,182 $1,280,000
7% 2%
$1,431,933 $1,311,000
$1,931,024 $1,780,000
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
3,131
2,964
2,699
3,041
2,541
2,810
1.84
2,344
2,233
2,588
1.72
1.70
1.69
1.54
1,848
1.50
1,858
1,793
1,752
1,013
739
427
364
327
313
260
603
213
323
485
343
325
$1.78M $1.70M
$1.61M $1.53M $1.48M
$1.42M $1.34M $1.32M $1.32M
$1.24M $1.29M $1.28M $1.31M
Feb-22
Jan-23
Feb-23
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
400
300
200
40%
34%
27%
25%
24%
100
17%
8%
5%
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+
S-L RATIO SALES INVENTORY
77 21 27%
33 8 24%
95 38 40%
183 63 34%
304 77 25%
438 74 17%
251 21 8%
184 10 5%
283 11 4%
Copyright© March2,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMarch2,2023.Aldatafrom RealEstateBoardof GreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipient oftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained from aren ieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
11
fraservaley board area TOWNHOME-FEBRUARY 2023
SALES TO LISTINGSRATIO 35% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere685 townhom elistingsin theFraserValey board areain February,0.1% aboveJanuaryand 9% higherthan February2022. Februarytownhom esalesincreased by43% m onth-over-m onth,to 242,and were45% below February2022. Thesales-to-listing ratio fortow nhom esin theFraser Valey board area,at35% ,reflected aselers'm arket. Thetownhom em edian pricein Februarywas$770,000,a 3% increasefrom Januaryand 21% below February2022. Theaveragesold pricewas$775,908,3% abovelast m onth;theaveragePSF salepricewas$504,up 5% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 21% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 22% VS 2022
▼ 21% VS 2022
▲ 9% VS 2022
▼ 45% VS 2022
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 71% 444 628
% Change
No. 25% 169 684
% Change
TOTALLISTINGS TOTALSALES
35% 242 685
-21% -22% -21% -50% -45% 9%
43% 43% 0.1%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$504 $775,908 $770,000
$480 $756,845 $745,000
5% 3% 3%
$639 $989,245 $970,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● FEB 202 ● FEB 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,307
1,248
1,330
1,17
1,156
945
924 1,084
1,001
621
685
751
684
628
361
283
444
245
391
360
242
234
236
189 154
169
$970K $950K $913K
$870K $855K $843K
$790K $780K $770K $798K $745K $745K $770K
FVREB
REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
45
250
4+ bdrms
185
200
122
3 bdrms
150
54%
346
47%
40%
100
30%
27%
71
2 bdrms
20%
50
147
13%
0
4
<$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
20 8 40%
54 29 54%
228 107 47%
272 81 30%
91 12 13%
15 4 27%
5 1 20%
7
Copyright© March2,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMarch2,2023.Aldatafrom RealEstateBoardofGreaterVancouver andFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 12 ●
fraservaley board area CONDO -FEBRUARY 2023
SALES TO LISTINGSRATIO 27% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 16% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 14% VS 2022
▼ 13% VS 2022
▲ 40% VS 2022
▼ 45% VS 2022
Therewere1,072 condolistingsin theFraserValey board areain February,5% aboveJanuaryand 40% higher than February2022. February condo salesincreased by 44% m onth-over-m onth,to 286,and were45% below February2022. Thesales-to-listing ratio forcondosin the FraserValey board area,at27% ,reflected aselers'm arket. Thecondom edian pricein Februarywas$499,350,a 0.4% increasefrom Januaryand 13% below February 2022. Theaveragesold pricewas$524,614,2% abovelast m onth;theaveragePSF salepricewas$611,up 3% to lastm onth.
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 68% 518 766
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
27% 286 1,072
-16% -14% -13% -61% -45% 40%
19% 198 1,017
3% 2% 0.4% 37% 44% 5%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$611 $524,614 $499,350
$592 $512,202 $497,450
$728 $609,188 $573,500
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● FEB 202 ● FEB 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,237
1,234
1,318
1,306
1,303
1,294
1,236
1,072
851
1,017
997
975
766
801
406
550
518
451
273
286
356
305
279 277
217
198
$574K $570K $566K $548K $540K
$535K $515K $500K $505K
$490K $485K $497K $499K
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
500
4
400
14
3 bdrms
300
73
34%
200
28%
175
23% 23%
2 bdrms
657
100
13%
8%
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
136 46 34%
588 167 28%
258 60 23%
44 10 23%
24 2 8%
8 1 13%
4 0 n/a
10 0 n/a
338
Copyright© March2,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMarch2,2023.Aldatafrom RealEstateBoardofGreaterVancouver andFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 13 ●
burnabynorth DETACHED -FEBRUARY 2023
SALES TO LISTINGSRATIO 31% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere85 detachedlistingsin BurnabyN orth in February,1.2% below Januaryand 33% higherthan February2022. February detached hom esalesincreased by 160% m onth-over-m onth,to26,and were45% below February 2022. Thesales-to-listing ratio fordetached in Burnaby N orth, at31% ,reflected aselers'm arket. Thedetachedm edian pricein Februarywas$1,925,000, a1.7% decreasefrom Januaryand 9% below February 2022. Theaveragesold pricewas$2,056,436,0.3% abovelast m onth and down 6% toFebruary2022.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 6% VS 2022
▼ 9% VS 2022
▲ 33% VS 2022
▼ 45% VS 2022
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
26 85
47 64
-58% -45% 33%
10 86
0.3% -1.7% 163% 160% -1.2%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$2,056,436 $1,925,000 31%
$2,050,975 $1,958,000 12%
$2,193,384 $2,120,000 73%
-6% -9%
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
131
122
18
15
2.62
109
92
87
86
2.34
95
93
85
2.19
85
64
47
37
30
28 25
40
24
26
1.33
18
10
1.16
22
19
16
1.06
$2.30M
$2.13M $2.20M $2.04M $2.08M
$2.12M
$2.04M $1.96M
$1.79M $1.96M $1.93M
$1.75M $1.71M
Feb-22
Jan-23
Feb-23
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
25
20
15
60%
40%
10
27%
18%
5
9%
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
1 0 n/a
5 2 40%
25 15 60%
15 4 27%
17 3 18%
22 2 9%
Copyright© March2,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMarch2,2023.Aldatafrom RealEstateBoardof GreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipient oftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained from aren ieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
14
burnabynorth TOWNHOME-FEBRUARY 2023
SALES TO LISTINGSRATIO 44% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 15% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 10% VS 2022
▼ 3% VS 2022
0.0% VS 2022
▼ 35% VS 2022
Therewere25 townhom elistingsin BurnabyN orth in February,nochangetoJanuaryand nochangeto February2022. Februarytownhom esalesincreased by38% m onth-over-m onth,to11,and were35% below February 2022. Thesales-to-listing ratio fortow nhom esin Burnaby N orth,at44% ,reflected aselers'm arket. Thetownhom em edian pricein Februarywas$880,000,a 18% increasefrom Januaryand 3% below February2022. Theaveragesold pricewas$859,164,7% abovelast m onth;theaveragePSF salepricewas$612,down 10% tolastm onth.
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
11 25
17 25
-15% -10% -3% -35% -35% 0%
$680 $806,688 $747,500 32% 8 25
-10% 7% 18% 38% 38% 0%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$612 $859,164 $880,000 44%
$724 $959,518 $905,000 68%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● FEB 202 ● FEB 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
45
38
35
39
33
36
29
31
25
23
25
25 25
17
17
15
12
17
16
1
12
12
8
8
7
5
$969K
$950K $989K $978K
$905K
$880K
$875K $868K
$860K
$770K $748K $775K
$748K
BURNABYNORTH REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
7
1
100%+ 100%
4+ bdrms
6
6
5
6
4
3 bdrms
13
3
4
2
2 bdrms
20%
5
1
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
3 0 n/a
3 4 133%
6 6 100%
5 1 20%
7 0 n/a
1 0 n/a
1
Copyright© March2,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMarch2,2023.Aldatafrom RealEstateBoardofGreaterVancouver andFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 15 ●
burnabynorth CONDO -FEBRUARY 2023
SALES TO LISTINGSRATIO 38% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere245 condolistingsin BurnabyN orth in February,3% below Januaryand 39% higherthan February2022. Februarycondosalesincreased by109% m onth-over-m onth,to92,and were43% below February 2022. Thesales-to-listing ratio forcondosin Burnaby N orth,at 38% ,reflected aselers'm arket. Thecondom edian pricein Februarywas$660,500,a7% decreasefrom Januaryand 15% below February2022. Theaveragesold pricewas$688,765,5% below last m onth;theaveragePSF salepricewas$874,down 2% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▼ 9% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 14% VS 2022
▼ 15% VS 2022
▲ 39% VS 2022
▼ 43% VS 2022
THISMONTH No.
PREVIOUSYEAR
PREVIOUSMONTH
No. 91% 160 176
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
$874 $688,765 $660,500 38% 92 245
-9% -14% -15% -59% -43% 39%
$893 $727,155 $706,500 17% 44 253
116% 109% -3%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
-2% -5% -7%
$958 $801,659 $777,950
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● FEB 202 ● FEB 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
286
287
309
268
264
300 301
253
245
257
200
218
176
180
124
160
92
88
82
12
96
50
80
58
52
44
$778K $750K $729K
$704K $667K $707K $661K
$699K $650K $671K $676K
$651K $692K
BURNABYNORTH REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
80
70
4+ bdrms
60
50
68%
4
60%
3 bdrms
40
32
30
54
25%
20
2 bdrms
150
10%
10
0
34
<$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
40 27 68%
73 44 60%
71 18 25%
31 3 10%
9 0 n/a
15 0 n/a
4 0 n/a
63
Copyright© March2,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofMarch2,2023.Aldatafrom RealEstateBoardofGreaterVancouver andFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakesteps astherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 16 ●
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