the rennie review - July 2019

the rennie review OUR PERSPECTIVE ON MLS DATA - INSIGHTS INTO SALES, LISTINGS AND PRICING TRENDS

published July 2019

table of contents

Each month, we release the rennie review, a detailed look at the real estate marketplace in Vancouver and the Lower Mainland. This report examines the market stats by neighbourhood, current rennie projects, and more.

2 INTRO

3 WHAT YOU NEED TO KNOW

4 NEIGHBOURHOOD PROFILE

Andrew Ramlo VP Intelligence aramlo@rennie.com

Ryan Berlin Senior Economist rberlin@rennie.com

7 FEATURED LISTINGS

40 CURRENT PROJECTS

CurrentasofJuly 3,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The informationsetoutherein (the“Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

housing demand showing signs of life .

Despite a slowdown fromMay’s sales pace, the data for June indicate that housing demand may be making a slow but steady comeback throughout the Vancouver region. This slow comeback is in the face of inventory levels that have just climbed back to historical averages.

other words, year-to-date sales in 2019 are down 23% compared to the same period in 2018, and 34% below the past decade average. Conversely, for every 10 listings in the first six months of 2018, there have been 13.6 this year, so supply is up by 36% over last year, and 1% above historical averages. With recent restrained demand and expanded supply, benchmark prices are down across the board over the past year: by 9% for detached, 8% for condos, and 7% for townhomes. That said, when compared on a month-over-month basis, prices seem to have stabilized for all product types. With family holidays well underway, people are generally more interested in building sand castles than attending open houses. The coming months will likely provide little insight into where the market is headed. In all likelihood we’ll have a better idea once we’ve digested the September and October data. Until then, we will keep an eye out for any discernible market shifts.

If you blinked you may have missed it: 6 months have passed since we welcomed in 2019, so it’s a good time to evaluate how the real estate market has performed in 2019 compared to previous years. Before we get there, let’s take a look at the data for June. Overall, the sales gap remains a feature of the market. For the 17th consecutive month year-over-year sales were down: June sales were 12% below June 2018. Having said that, June’s 3,342 sales were the second- most in the past 12 months (only behind May’s 4,077), hinting that demand might be modestly re-establishing itself. Total active listings were up 15% in June compared to last year. This was entirely due to an expansion of multi-family inventory as detached listings actually fell by 2% year-

over-year. Despite the overall increase in available homes, June’s inventory of 22,400 homes was almost identical to the past decade average for June (22,465), indicating that the supply side of the region’s market has normalized after years of being constrained. The June data reinforce a pattern of continued movement towards relative balance between supply and demand. To put a statistical point on it, the sales-to- listings ratio in June 2019 fell between 12% (for detached) and 19% (for townhomes), indicating that the markets for all home types were indeed, as per common definitions, balanced region-wide. So how have we fared through the first half of the year? On the sales front, for every 10 transactions between January and June 2018 there have been 7.7 this year; in

greater vancouver board area

DETACHED - JUNE 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 11 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

14 % DOWN

5 % DOWN

1.7 % DOWN

11 %

Detached listings in the REBGV decreased to 6,747 in June, 3% below May and 5% lower vs June 2018. Detached sales, at 761, decreased 17% compared to May and were 1.7% lower than in June 2018. The sales-to-listings ratio decreased to 11%, as the REBGV detached market transitioned to buyer’s market territory. The detached benchmark price in June was $1.42M, virtually unchanged month-over-month and an 11% decline year-over-year. The average sold price was $1.51M, decreasing 5% from the previous month and a 14% drop from the previous year.

VS 2018

BUYER’S

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

6,747

6,927

-3%

7,105

-5%

TOTAL SALES

761 11%

916 13%

-17% -15%

774 11%

-1.7%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$1,423,500 $1,421,900 0.1% $1,596,900 -11%

$1,510,565 $1,582,508

-5% $1,758,651 -14%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.60

$1.56

$1.53

$1.48

2.22

$1.44

$1.43

2.17

$1.42

2.14

1.88

6,946

7,105

1.84

1.82

6,906

6,729

6,747

5,798

4,999

774

761

639

585

576

452

353

Jun-18

May-19

Jun-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

SELLER'S MARKET

BALANCED

BUYER'S MARKET

. . . 0 0 0 0 0

S-L RATIO SALES INVENTORY

CurrentasofJuly3,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The information setoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

greater vancouver board area

TOWNHOME - JUNE 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 9 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

10 % DOWN

11 % DOWN

8 % DOWN

40 % UP

BALANCED 17 %

The number of townhome listings in the REBGV dipped to 2,042 in June, 1.4% below May but 40% higher year-over-year. Townhome sales in June, at 341, were down 17% vs May and were 8% below last year. The sales-to-listings ratio decreased to 17% as the REBGV townhome market remained balanced. The townhome benchmark price in June was $774,700, 0.6% below May and 9% lower than in June 2018. The average sold price was $787,526, with an average PSF sales price of $574 (5% lower and 1.2% higher, respectively, vs May).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

2,042

2,071

-1.4% 1,456

40% -8% -34% -10% -11% -9%

TOTAL SALES

341 17%

412 20%

-17% -16%

370 25%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$774,700 $779,400 $787,526 $830,082

-0.6% $847,300 -5% $873,592

$574

$567

1.2%

$646

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$847,300 $837,600 $818,900 $797,400 $780,600 $775,000 $774,700

2,042

2,033

1,731

1,575

1,538

1,456

1,328

370

341

316

311

294

239

167

REBGV

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

339

201

3 bdrms

1,156

106

<3 bdrms

. . . . 0 0 0 0

564

S-L RATIO SALES INVENTORY

CurrentasofJuly3,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The information setoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

greater vancouver board area

CONDO - JUNE 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 9 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

24 % DOWN

7 % DOWN

8 % DOWN

47 % UP

BALANCED 16 %

The number of condo listings in the REBGV decreased to 5,899 in June, 3% below May but 47% above June 2018. At 946, condo sales were 24% lower month-over- month and year-over-year. The sales-to-listings ratio decreased to 16%, as the REBGV condo market remained in balanced market territory. The condo benchmark price in June was $654,700, 1.4% below May and 9% lower than in June 2018. The average sold price was $643,471 (virtually unchanged from May) with an average PSF sales price of $749 (down from May by 1.8%).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

5,899

6,104 1,245

-3%

4,026 1,243

47% -24% -48%

TOTAL SALES

946 16%

-24% -21%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

20%

31%

$654,700 $664,200 $643,471 $646,169

-1.4% $719,000 -0.4% $694,900 -1.8% $813

-9% -7% -8%

$749

$763

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$719,000 $706,000 $693,200 $675,200 $671,500 $667,500 $654,700

6,067

5,899

5,093

4,704

4,250

4,026

3,916

1,243

1,028

983

946

884

759

537

REBGV

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

597

518

2 bdrms

3,442

376

<2 bdrms

. . . . 0 0 0 0

1,892

S-L RATIO SALES INVENTORY

CurrentasofJuly3,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The information setoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

featured listings SEARCH FOR THE HOME YOU LOVE AT RENNIE.COM

House $1,998,000 | NORTH VAN 4146 Beaufort Pl. 4 Bed, 3,274 SF Alice Ristak PREC* 604.809.7218

Townhome $1,838,800 | FALSE CREEK Th158 W 1st Ave. 3 Bed, 1,673 SF Phil Chang PREC* 604.754.6678

House $1,395,000 | EAST VAN 7848 Main St. 6 Bed, 3,600 SF Flora Shi 604.720.6808 House $1,728,000 | BURNABY 5450 Braelawn Dr. 4 Bed, 3,326 SF Spencer Graffos 604.781.7103

House $1,629,000 | BURNABY

Wall Centre False Creek $1,349,000 | FALSE CREEK

1104 Ridley Dr. 5 Bed, 2,668 SF Sora Chung 604.809.5162

128 W 1st Ave. 2 Bed, 1,357 SF Ryan Wong PREC* 604.551.7966

Buchanan East $819,000 | BRENTWOOD 2104-4398 Buchanan St. 3 Bed, 1,323 SF Ryan Wong PREC* 604.551.7966 The Independent $1,375,000 | EAST VAN 1610-285 E 10 Ave. 2 Bed, 1,046 SF Calvin Kan PREC* 604.616.8373 The Independent $729,900 | EAST VAN 1012-285 E 10th Ave. 1 Bed, 573 SF Calvin Kan PREC* 604.616.8373 Foster $619,900 | COQUITLAM 212-545 Foster Ave. 2 Bed, 916 SF Artyom Seroff PREC* 778.223.0033

Brookmere $798,888 | COQUITLAM 1906-530 Whiting Way 3 Bed, 992 SF Harjas Panesar 778.968.8262 Harbour Cove $1,099,000 | KITSILANO 2-1470 Pennyfarthing Dr. 2 Bed, 1,280 SF Mike Ross 778.987.8874

Sorrento West $883,000 | RICHMOND 1003-8628 Hazelbridge Way

2 Bed, 1,030 SF Colin Lo PREC* 604.377.1128

Freestyle $769,900 | SURREY 30-16678 25 Ave. 4 Bed, 1,527 SF Artyom Seroff PREC* 778.223.0033

Storybrook $629,900 | BURNABY 417-7131 Stride Ave. 2 Bed, 822 SF

Dawson’s Creek $698,900 | SURREY

31-16357 15 Ave. 4 Bed, 1,700 SF Shahz Jivani 778.388.7679

Jordan Wong 778.378.6888

The Milano $610,000 | DOWNTOWN 602-1003 Burnaby St. 1 Bed, 643 SF

Marquis Grande $589,900 | BURNABY 1601-4132 Halifax St. 1 Bed, 854 SF Sam Abadian PREC* 604.290.1690

Ambrose Kan 778.558.1378

CurrentasofJuly3,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The information setoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

DETACHED - JUNE 2019 burnaby east

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 12 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

21 % DOWN

38 % DOWN

3 % UP

BUYER’S 8 %

The number of detached listings in Burnaby East in June, at 63, were 1.6% higher vs the previous month but a 21% decrease vs June 2018. There were 5 detached sales in June, 5 less than the previous month and 3 below June 2018. The sales-to-listings ratio fell to 8%, as Burnaby East’s detached segment transitioned to a buyer’s market. The benchmark price for detached homes in Burnaby East in June was $1.18M—1.5% above last month but 12% lower than last year. The average sold price in Burnaby East in June was $1.44M, up 29% vs May and 3% higher year-over-year.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

62 10

1.6% -50% -51%

-21% -38% -21%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

16%

10%

$1,180,600 $1,162,700 1.5% $1,340,700 -12%

$1,439,600 $1,119,500

29% $1,394,226

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.34

$1.27

$1.25

1.87

1.83

$1.18

$1.17

$1.16

1.77

1.67

1.60

1.55

Jun-18

May-19

Jun-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

SELLER'S MARKET

BALANCED

BUYER'S MARKET

. . . 0 0 0 0 0 QD QD QD QD QD

S-L RATIO SALES INVENTORY

CurrentasofJuly3,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The information setoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

TOWNHOME - JUNE 2019 burnaby east

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 10 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

19 % DOWN

0.2 % UP

54 % UP

0.0 %

BALANCED 15 %

The number of townhome listings in Burnaby East increased to 40 in June, 25% above May and 54% higher than in June 2018. Townhome sales, at 6, were 2 below last month and unchanged vs last year. The sales-to-listings ratio decreased to 15%, as Burnaby East’s townhome market transitioned to balanced market territory. The benchmark price in June was $644,300, 1.9% below the previous month and 10% lower vs June 2018. The average sold price was $678,667 (2% higher than last month) with an average PSF sales price of $578 (5% above last month).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

25% -25% -40%

54% 0.0% -35% -10% -19% 0.2%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

15%

25%

23%

$644,300 $656,500 $678,667 $662,413

-1.9% $717,400 2% $841,750

$578

$551

$577

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$717,400 $712,800 $712,300 $696,300 $687,100 $656,800 $644,300

BURNABY EAST

REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD QD QD

S-L RATIO SALES INVENTORY

CurrentasofJuly3,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The information setoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

CONDO - JUNE 2019 burnaby east

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 8 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

15 % DOWN

1.0 % DOWN

56 % DOWN

20 % UP

BUYER’S 11 %

The number of condo listings in Burnaby East in June rose 3% month-over-month (to 36) and jumped 20% year-over-year. At 4, condo sales were 1 lower month-over-month and 5 below June 2018. The sales-to-listings ratio decreased to 11% in June as Burnaby East’s condo market favoured buyers. The condo benchmark price in June was $736,100, 1.6% below last month and 8% lower year-over-year. The average sold price for condos decreased 6% month-over-month (to $562,000) while the average PSF sales price rose 6% (to $755).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

20% -56% -63% -15% -1.0% -8%

TOTAL SALES

-20% -22%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

11%

14%

30%

$736,100 $748,100 $562,000 $598,800

-1.6% $802,600 -6% $663,889

$755

$712

$763

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$802,600 $782,800 $761,400 $770,300

$718,900 $754,900 $736,100

BURNABY EAST

REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

1 1

3+ bdrms

BUYER'S MARKET

2 bdrms

<2 bdrms

. . . . 0 0 0 0 QD QD QD QD QD QD

S-L RATIO SALES INVENTORY

CurrentasofJuly3,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The information setoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

DETACHED - JUNE 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 9 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

6 % DOWN

1.4 % UP

67 % UP

BALANCED 13 %

The number of detached listings in Burnaby North in June, at 234, was 7% lower month-over-month and 6% lower year-over-year. With 30 in June, detached sales were down 3 month- over-month but 12 above last year. The sales-to-listings ratio was unchanged at 13%, as Burnaby North’s detached market remained balanced. The benchmark price in June was $1.40M, 0.6% below May 2019 and 9% lower than in June 2018. The average sold price was $1.54M, up 8% from the previous month and 1.4% above June 2018.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 252

% Change

No. 249

% Change

TOTAL LISTINGS

234

-7% -9% -2%

-6% 67% 77% -9%

TOTAL SALES

18 7%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

13%

$1,399,800 $1,407,600 -0.6% $1,538,900

$1,542,830 $1,428,875

8% $1,521,722 1.4%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.54

$1.50

$1.49

$1.45

2.35

$1.40

$1.39

2.30

2.29

1.98

249

1.93

243

236

231

234

198

181

Jun-18

May-19

Jun-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

. . . 0 0 0 0 0 QD QD QD S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET

CurrentasofJuly3,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The information setoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

TOWNHOME - JUNE 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 7 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

14 % DOWN

5 % DOWN

16 % DOWN

49 % UP

SELLER’S 22 %

The number of townhome listings in Burnaby North decreased 8% from last month, settling at 73, but was 49% above June 2018. Townhome sales, at 16, were up by 1 vs last June but down by 3 from May 2019. The sales-to-listings ratio increased to 22% in June, as Burnaby North’s townhome segment transitioned to a seller’s market. The benchmark price in June was $725,500, 0.7% below May and 7% lower vs June 2018. The average sold price was $637,444 in June, (decreasing 12% vs May) while the average PSF sales price was $527 (decreasing 6%).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

73 16

79 15

-8%

49 19

49% -16% -43%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

22%

19%

15%

39%

$725,500 $730,300 $637,444 $725,733

-0.7% $777,000 -12% $740,247

-7%

-14%

$527

$558

-6%

$556

-5%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$777,000 $766,200 $761,100 $724,400 $715,300 $709,200 $725,500

BURNABY NORTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD QD QD

S-L RATIO SALES INVENTORY

CurrentasofJuly3,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The information setoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

CONDO - JUNE 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 7 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

13 % DOWN

6 % DOWN

22 % DOWN

72 % UP

BALANCED 17 %

There were 311 condo listings in Burnaby North in June, 3% below May but 72% higher than in June 2018. June condo sales decreased by 25% month-over- month and were 22% below June 2018. The sales-to-listings ratio for condos in Burnaby North decreased to 17%, transitioning to a balanced market. The condo benchmark price in June was $607,800, 1.2% below May and 7% lower than in June 2018. The average sold price was $541,683, down 7% from last month; the average PSF sales price was $650, down 3% from last month.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 320

% Change

No. 181

% Change

TOTAL LISTINGS

311

-3%

72% -22% -54%

TOTAL SALES

-25% -23%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

17%

23%

38%

$607,800 $615,100 $541,683 $584,988

-1.2% $656,100 -7% $619,136

-7%

-13%

$650

$669

-3%

$688

-6%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$656,100 $650,900 $631,200 $619,100 $599,900 $611,800 $607,800

317

311

257

232

211

181

BURNABY NORTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

2 bdrms

205

<2 bdrms

. . . . 0 0 0 0 QD QD QD QD

S-L RATIO SALES INVENTORY

CurrentasofJuly3,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The information setoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

DETACHED - JUNE 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 13 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

3 % DOWN

10 % DOWN

11 %

There were 245 detached listings in the Burnaby South market area in June, 3% below last month and 10% lower vs June 2018. Detached sales rose by 3, to 26, between May and June, but were 3 lower year-over-year. The sales-to-listings ratio rose to 11%, as Burnaby South’s detached market remained in buyer’s market territory. The benchmark price in June was $1.50M, 0.8% below the previous month and a 13% decline vs last year. The average sold price for detached homes was $1.77M, 8% above May but 3% lower than this time last year.

VS 2018

BUYER’S

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 253

% Change

No. 272

% Change

TOTAL LISTINGS

245

-3% 13% 17%

-10% -10% -0.5%

TOTAL SALES

23 9%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

11%

$1,496,100 $1,508,100 -0.8% $1,712,400 -13%

$1,769,318 $1,643,219

8% $1,818,601

-3%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.71

$1.63

$1.62

2.32

$1.57

$1.54

$1.53

2.25

2.23

$1.50

2.00

1.96

1.93

272

268

256

245

236

205

189

Jun-18

May-19

Jun-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

. . . 0 0 0 0 0 QD QD S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET

CurrentasofJuly3,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The information setoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

TOWNHOME - JUNE 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 11 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

16 % DOWN

13 % DOWN

5 % DOWN

102 % UP

BALANCED 17 %

Townhome listings in the Burnaby South market area in June (at 107) were up 8% from last month and 102% above last year. The 18 townhome sales were 4 below May and 1 lower than in June 2018. The sales-to-listings ratio decreased to 17%, as Burnaby South’s townhome segment transitioned to a balanced market. The benchmark price in June was $762,600, 2% below May and 11% lower year-over-year. The average sold price was $723,252 (up 1.0% from May) with an average PSF sales price of $605 (virtu- ally unchanged from May).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

107

99 22

53 19

102%

TOTAL SALES

-18% -24%

-5%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

17%

22%

36%

-53% -11% -13% -16%

$762,600 $781,500 $723,252 $715,891

-2% $856,400 1.0% $826,862 -0.3% $720

$605

$607

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$856,400 $841,600 $811,100 $790,800 $807,300 $768,100 $762,600

107

101

BURNABY SOUTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD QD QD

S-L RATIO SALES INVENTORY

CurrentasofJuly3,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The information setoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

CONDO - JUNE 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 10 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

11 % DOWN

3 % DOWN

81 % UP

6 % UP

BALANCED 16 %

The number of condo listings in Burnaby South, at 434, decreased 4% month-over-month but jumped 81% vs last year. June’s condo sales, at 71, were 8% below last month but 6% above last year. The sales-to-listings ratio dipped to 16% in June, as Burnaby South’s condo segment remained in bal- anced market territory. The condo benchmark price in June was $666,200, 1.5% belowMay and a 10% decrease from June 2018. The average sold price was $587,461 (9% lower than in May) with an average PSF sales price of $745 (4% below May).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 451

% Change

No. 240

% Change

TOTAL LISTINGS

434

-4% -8% -4%

81%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

16%

17%

28%

-41% -10% -11%

$666,200 $676,400 $587,461 $642,401

-1.5% $737,000 -9% $656,922

$745

$774

-4%

$771

-3%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$737,000 $717,800 $701,400 $685,700 $689,400 $679,200 $666,200

437

434

371

352

319

288

240

BURNABY SOUTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

2 bdrms

291

<2 bdrms

. . . . 0 0 0 0 QD QD QD QD

S-L RATIO SALES INVENTORY

CurrentasofJuly3,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The information setoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

coquitlam

DETACHED - JUNE 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 11 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

7 % DOWN

5 % UP

31 % UP

BALANCED 14 %

The number of detached listings in Coquitlam dipped to 572 in June, 0.7% below May but 5% higher year-over-year. The 80 detached sales in June represented an increase of 13% from May and a 31% jump vs June of last year. Coquitlam’s sales-to-listings ratio increased to 14% as the detached segment remained in balanced market territory. The benchmark price in June was $1.17M, virtu- ally unchanged from May and an 11% decrease year-over-year. The average sold price was $1.27M in June, up 1.3% from May but 7% below June 2018.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 576

% Change

No. 546

% Change

TOTAL LISTINGS

572

-0.7%

TOTAL SALES

13% 13%

31% 25%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

14%

12%

11%

$1,166,100 $1,164,300 0.2% $1,313,500 -11% $1,265,065 $1,248,762 1.3% $1,356,538 -7%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.31

$1.25

$1.21

2.38

$1.18

$1.17

$1.16

2.27

2.25

582

572

566

546

545

1.84

1.77

1.73

459

395

Jun-18

May-19

Jun-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

SELLER'S MARKET

BALANCED

BUYER'S MARKET

. . . 0 0 0 0 0 QD QD

S-L RATIO SALES INVENTORY

CurrentasofJuly3,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The information setoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

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