highlights • With an increase in the number of moderately-priced homes transacting in April, the median sales price fell on a month-over-month basis by 4% for detached homes, 3% for townhomes, and 6% for condos. On average over the past decade, median detached prices declined by 0.5% between March and April while increasing by 0.3% for townhomes and by 0.5% for condos. • Compared to April of last year, median prices were higher in April 2020 for all product types: by 3% for detached homes, by 0.8% for townhomes, and by 0.4% for condos. • The detached-to-townhome price ratio declined marginally to 1.76 in April from 1.77 in March (a change favouring up-sizers), while the townhome-to-condo price ratio rose to 1.32 from 1.29 (a change favouring down-sizers).
median prices THE RENNIE ADVANCE
APRIL 2020
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DETACHED median sales price
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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 May 4, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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.
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