rennie review - March 2023

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%

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