THE RENNIE ADVANCE total listings
highlights • Inventory continued its typical pattern year-end shrinkage into December, as last month wrapped with 10,876 listings, down 21% versus November. With sales counts depressed, this month-to-month change was actually less than the typical 26% drop in inventory at this time of year. December’s inventory was 10% below the past-decade average for the month. • Of particular note is the significant drop in the region’s listing count between December 31st and January 1st of the new year. To wit, while there is usually a 600-700 listing decline between these two dates due to expirations and cancellations, this year saw a one-day drop of 1,304, meaning 2023 kicked off with only 9,572 holmes available for purchase. • The region’s housing market was, overall, balanced in December, with 5.5 months of inventory (MOI). The detached home market remained balanced with 7.5 MOI, while the townhome and condo segments continued to favour sellers, with MOIs of 4.6 and 4.4, respectively.
DECEMBER 2022
14,000
+ 52% vs Dec 2021
12,000
10,000
8,000
5,434 10 yr Dec Avg
6,000
4,000
4,787
DETACHED listings
0 2,000
- 12% vs 10yr Dec Avg
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
﹍ 10 yr December Average
● December
1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500
+ 155% vs Dec 2021
1,597 10 yr Dec Avg
1,566
TOWNHOME listings
0 500
- 1.9% vs 10yr Dec Avg
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
﹍ 10 yr December Average
● December
12,000
vs Dec 2021
10,000
8,000
6,000
4,196 10 yr Dec Avg
4,000
CONDO listings
4,140
2,000
0
- 1.3% vs 10yr Dec Avg
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
﹍ 10 yr December Average
● December
Copyright © January 3, 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 January 3, 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.
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