THE RENNIE ADVANCE median prices
highlights • December’s median sold prices, when averaged across all home types, increased by 1.7% versus November in the Greater Vancouver board area, while in the Fraser Valley board area they fell by 1.3%. • Compared to November, the median sold price of townhomes in Greater Vancouver rose by 4%, with that of condos and detached homes inching up by 0.7% and 0.6%, respectively. The Fraser Valley saw an equivalent rise in the median sold price of detached homes (4%) as in Greater Vancouver, while townhomes and condos experienced respective declines in median sold prices of 7% and 1.0%. • On a year-over-year basis in December, the price of detached homes was down in both board areas—by 8% in Greater Vancouver and by 19% in the Fraser Valley. Townhome median prices were up in Greater Vancouver by 1.0%, but down in the Fraser Valley (by 14%). Similarly, condo median prices were higher in Greater Vancouver by 0.7%, but lower by 8% in the Fraser Valley.
DECEMBER 2022
$2,000,000
Greater Vancouver
$1,600,000
$1.70M
- 8% vs Dec 2021
$1,200,000
$1.28M
$800,000
DETACHED median sales price
Fraser Valley
$400,000
- 19% vs Dec 2021
$0
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
━ Greater Vancouver ━ Fraser Valley
● December
$1,200,000
Greater Vancouver
$1,000,000
$985,000
+ 1% vs Dec 2021
$800,000
$745,000
$600,000
$400,000
TOWNHOME median sales price
Fraser Valley
$200,000
$0
- 14% vs Dec 2021
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
━ Greater Vancouver ━ Fraser Valley
● December
$1,000,000
Greater Vancouver
$800,000
+ 0.7% vs Dec 2021
$685,000
$600,000
$485,000
$400,000
CONDO median sales price
Fraser Valley
$200,000
- 8% vs Dec 2021
$0
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
━ Greater Vancouver ━ Fraser Valley
● 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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