the rennie advance A BRIEF UPDATE ON THE LATEST SALES, LISTINGS, AND MEDIAN SALE PRICES ACTIVITY
published September 2020
table of contents
The rennie advance is a summary of the latest sales, listings, and price trends in the Vancouver Region. It is produced at the beginning of each month and it reflects the very latest market data. On behalf of the rennie intelligence team, we hope you find it useful and informative.
2 I N T R O
3 S A L E S
4 T O T A L L I S T I N G S
Ryan Berlin DIRECTOR OF INTELLIGENCE & SENIOR ECONOMIST rberlin@rennie.com
Bowen Behan Pausey BUSINESS DATA ANALYST, HOUSING bbehan@rennie.com
5 P R I C E S
6 R E N N I E I N T E L L I G E N C E
highlights • Total sales in the Vancouver Region reached 5,000 again in August. Though this was slightly below July’s tally (by 3%) it was well above that of August 2019 (by 44%) and was the highest sales count for the month of August since 2009. • When segmented by home types, ground-oriented homes experienced the largest year-over- year increases, with detached home sales up 63% and townhomes up 59% (condo sales were 21% higher). • Ground-oriented homes also accounted for the majority of sales, with detached homes representing 42% of sales (slightly below its past-decade average of 43%) and townhomes representing 21% (higher than its past-decade average of 18%). Condos accounted for 35% of sales, which was lower than its past-decade average of 37%.
THE RENNIE ADVANCE
sales
AUGUST
$XJXVW
YV$XJ
\U$XJ$YJ YV\U$XJ DYJ
DETACHED sales
YV$XJ
$XJXVW
YV\U$XJ $YJ
\U$XJ$YJ
TOWNHOME sales
$XJXVW
YV$XJ
YV\U$XJ $YJ
\U$XJ$YJ
CONDO sales
Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of August 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
highlights • Inventory totalled 19,153 in August, up 1.5% compared to the previous month. This was still 12% below August 2019, representing the 11th consecutive month of year-over-year contractions in inventory in the Vancouver Region. • Total listings of detached homes and townhomes were both down by double-digits on a year- over-year basis (by 24% and 19%, respectively) while condo inventory was higher by 9%. • The overall sales-to-listings (S-L) ratio for the Vancouver Region continues to reflect conditions that are favourable to sellers (where the S-L ratio is greater than 21%). This is also true for each home type, with the August 2020 S-L ratios sitting at 26% for detached, 37% for townhomes, and 22% for condos.
total listings THE RENNIE ADVANCE
AUGUST
YV$XJ
\U$XJ$YJ
YV\U$XJ $YJ
DETACHED listings
$XJXVW
YV$XJ
\U$XJ$YJ
YV\U$XJ $YJ
TOWNHOME listings
$XJXVW
YV $XJ
\U$XJ$YJ
YV\U$XJ $YJ
CONDO listings
$XJXVW
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 August 3, 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.
highlights • In both the Greater Vancouver and Fraser Valley board areas, median sales prices were higher across all home-types on a year-over-year basis in August. • For detached homes in the Greater Vancouver board area, median prices rose 7% compared to August 2019, while townhomes were up 7% and condos were higher by 3%. In the Fraser Valley board area, median sales prices for detached homes rose by 12% while those for townhomes and condos rose 9% each. • Compared to July 2020, median prices in the Greater Vancouver board area were higher by 1.1% in August for detached homes, by 0.2% for townhomes, and by 1.4% for condos. Detached homes and townhome median prices rose by 2% and 3%, respectively, in the Fraser Valley board area, while for condos they fell by 1.2%.
THE RENNIE ADVANCE median prices
AUGUST
YV $XJ
$XJXVW
0
*UHDWHU 9DQFRXYHU )UDVHU9DOOH\
0
DETACHED median sales price
YV $XJ
YV $XJ
$XJXVW *UHDWHU 9DQFRXYHU )UDVHU9DOOH\
TOWNHOME median sales price
YV $XJ
YV $XJ
$XJXVW
*UHDWHU 9DQFRXYHU )UDVHU9DOOH\
CONDO median sales price
YV $XJ
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 August 3, 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.
the data behind rennie .
The rennie intelligence team is composed of our in-house demographer, senior economist, and market analysts. Together, they empower our developer clients, rennie advisors, institutional advisory clients, and the entire rennie team with comprehensive data and a trusted market perspective. With data as the backbone to our thoughtful real estate practice, we help our clients form and execute sound, well-considered plans to achieve their goals.
Reach out to your rennie representative to learn more and to receive these publications on a regular basis, or visit us at intelligence.rennie.com
Page 1 Page 2 Page 3 Page 4 Page 5 Page 6Made with FlippingBook - professional solution for displaying marketing and sales documents online