the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 16 SUB-MARKETS IN THE VANCOUVER REGION
published November 2023
table of contents
02 INTRO
03 WHAT YOU NEED TO KNOW
04 FEATURED LISTINGS
Each month, we release the rennie review, a detailed look at the real estate marketplace in the Vancouver Region. This report examines the market stats by sub-market, provides updates on current rennie projects, and more.
NEIGHBOURHOOD PROFILES
05 08 11 14 17 20 23 26 29 32 35 38 41 44 47 50 51 54 56
Vancouver Region
Greater Vancouver Board Area Fraser Valley Board Area
Burnaby North Burnaby South
Coquitlam
Langley
North Delta
Ryan Berlin SENIOR ECONOMIST VICE PRESIDENT, INTELLIGENCE rberlin@rennie.com
Ryan Wyse LEAD ANALYST & MARKET INTELLIGENCE MANAGER rwyse@rennie.com
New Westminster North Vancouver
Port Moody Richmond Squamish
Surrey
Vancouver East
Vancouver Downtown
Vancouver West West Vancouver
Whistler
59 AREA MAPS
62 CURRENT PROJECTS
Copyright © 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 November 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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. 2
October’s sales don’t go bump in the night The typical October spike in sales was absent from the Vancouver Region’s housing market as high interest rates continued to weigh on demand. Instead, it was the supply side of the ledger that saw an increase last month—another seasonal anomaly.
Looking ahead, we expect this sales/ inventory dynamic to prevail over the course of the next few months. Yes, sales typically do fall off in November and December as would-be buyers spend more time thinking about the holidays than real estate, but a steeper-than- usual contraction in transaction counts is in the cards this year. Meanwhile, inventory—which typically declines by about one-third during Q4 of a given year—will continue to fade through the balance of 2023, though by less than we’re used to as new listings remain elevated and homes sit on the market longer on account of idling would-be buyers. As these trends play out, we’ll see the total number of homes available for sale at the end of December sitting above the long-run December average— something that hasn’t happened in any month since July 2019.
Stop us if you’ve heard this one before: macroeconomic factors (including and especially high interest rates) are currently the biggest influences on our local housing market—not seasonality. And while this has been evident for many months now (as we documented in previous editions of the rennie review), the most recent month’s data on our local housing market further underscores the point. Indeed, while October is typically characterized by expanded sales counts and shrinking inventory, the opposite of this transpired last month. Let’s start with sales. Last month, there were 2,910 MLS transactions throughout the region, a count down slightly (0.2%) from the previous month. Notably, this stands in stark contrast to the typical seasonal change of an 8% September-to-October increase, with October also marking the fifth
consecutive monthly decline in sales and representing the lowest monthly total since February. Further, last month’s sales count was 33% lower than the past- decade October average. With fewer buyers participating in the market, the trend in inventory was opposite to that of sales: the 16,618 homes available for sale at the end of October represented a 1.7% increase from September, which was counter to the typical September-to-October contraction of 5%. Last month’s total listings were also 13% higher than a year earlier, and while not quite at the long-run average (2% below), they were still at their highest level of any month since October 2020. This dynamic of shrinking sales and expanded listings pushed the months- of-inventory (MOI) metric up to 5.7 in October, thereby denoting the presence of balanced market conditions overall.
Copyright © 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 November 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. 3
featured listings SEARCH FOR THE HOME YOU LOVE AT RENNIE.COM
House
House
House
$2,698,000 | SQUAMISH
$4,798,000 | NORTH VAN
$2,688,000 | WEST VAN
40215 Kintyre Drive 4 Bed, 3,528 SF
4062 Virginia Crescent 6 Bed, 6,199 SF Jason Soprovich 604.817.8812
4641 Woodburn Road 4 Bed, 3,244 SF Sam Abadian PREC* 604.290.1690
Shawn Wentworth PREC* 604.379.6731
Townhome
House
Condo
$2,099,000 | WHISTLER
$1,948,000 | WHISTLER 323 - 2050 Lake Placid Road 1 Bed, 819 SF
$2,199,000 | WHISTLER 3 - 4725 Spearhead Drive 2 Bed, 1,138 SF
44 Black Tusk Drive 4 Bed, 1,730 SF
Rob Palm PREC* 604.905.8833
David Lewis 604.902.7270
Meg McLean PREC* 604.265.6604
Timber House
Alvin Narod Mews $1,499,900 | YALETOWN 903 - 238 Alvin Narod Mews 3 Bed, 1,390 SF
Avondale
$1,299,000 | NORTH VAN
$1,432,900 | NEW WEST
10 - 308 E. 14th Street 3 Bed, 1,366 SF
304 - 310 Salter Street 2 Bed, 1,605 SF
Amy Chan PREC* 604.992.2101
Kim Taylor 604.315.2645
Joanne Hoekstra 604.722.6645
Bel Air $1,175,000 | KITSILANO 404 - 2828 Yew Street 2 Bed, 936 SF Karim Kamrani 604.789.6461
Rove
Woodland Block $1,169,900 | EAST VAN 456 - 2377 E. 11th Avenue 2 Bed, 973 SF Christina Prevedoros 604.765.9034
$1,079,900 | NORTH VAN
211 - 1080 Marine Drive 2 Bed, 875 SF
Azi Mojdehi 778.994.9335
Ashbury & Oak $889,000 | LANGLEY 100 - 8138 204 Street 2 Bed, 1,278 SF Brandon Blue PREC* 604.999.7792
Eclipse Brentwood
Townhome
$999,900 | PORT COQUITLAM
$1,057,900 | BURNABY NORTH
30 - 2560 Pitt River Road 3 Bed, 1,382 SF Candace Cheung PREC* 604.649.4328
2405 - 2381 Beta Avenue 2 Bed, 813 SF
Alice Ristak PREC* 604.809.7218
The Sentinel
Spectrum 4
King George Hub II
$819,900 | WEST VAN 2201 - 200 Klahanie Court 1 Bed, 547 SF
$805,000 | DOWNTOWN 1901 - 602 Citadel Parade 2 Bed, 828 SF Lorenzo Daminato PREC* 604.657.8121
$640,000 | SURREY
604 - 13655 Fraser Highway 2 Bed, 802 SF
Amin Shahbaz PREC* 604.721.3650
Ryan Wong PREC* 604.551.7966
Copyright © 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 November 3, 2023. 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.
4
vancouverregion DETACHED -OCTOBER 2 0 2 3
SALES TO LISTINGSRATIO 12% BALANCEDMARKET
▶ MARKETSUMMARY Therewere7,646 detached listingsin theVancouver Region in O ctober,1.1% below Septem berand 18% higherthan October2022. O ctoberdetached hom esalesincreased by 1.8% m onth-over-m onth,to952,and were5% aboveO ctober 2022. Thesales-to-listing ratio fordetached in the Vancouver Region,at12% ,reflected abalanced m arket. Thedetachedm edian pricein Octoberwas$1,699,500,a 1.2% increasefrom Septem berand 11% aboveO ctober 2022. Theaveragesold pricewas$1,960,592,1.5% abovelast m onth and up 7% toOctober2022.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 7% VS 2022
▲ 11% VS 2022
▲ 18% VS 2022
▲ 5% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
12% 952 7,646
14% 905 6,495
7% 11% -11% 5% 18%
12% 935 7,732
1.5% 1.2% 3% 1.8% -1.1%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$1,930,782 $1,680,000
$1,960,592 $1,699,500
$1,839,377 $1,538,000
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
7,646
6,975
7,732
6,758
7,16
6,12
6,495
5,942
1.85
1.85
1.77
4,816
5,226
5,016
4,786
4,553
1.43
1.42
1.40
1,694
1,614
1,323
1,042
803
629
514
952
905
1,394
1,129
935
836
$1.65M $1.71M $1.67M $1.65M $1.66M $1.68M $1.70M
$1.54M $1.50M $1.50M $1.45M $1.55M $1.56M
22-Oct
23-Sep 23-Oct
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
2000
1500
1000
28%
23%
500
17%
17%
16%
14%
12%
10%
6%
0
<$600K
$600-799K
$800-999K
$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M
$2.0M -2.49M
$2.5M -2.99M
$3M+ 1,956 117 6%
S-L RATIO SALES INVENTORY
126 35 28%
94 16 17%
271 45 17%
490 112 23%
947 156 16%
1,869 263 14%
1,041 126 12%
852 82 10%
Copyright© 2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber3,2023.Aldatafrom RealEstateBoardof GreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipient oftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained from aren ieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
5
vancouverregion TOWNHOME-OCTOBER 2 0 2 3
SALES TO LISTINGSRATIO 24% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere2,151 townhom elistingsin theVancouver Region in O ctober,3% aboveSeptem berand 0.5% lower than October2022. O ctobertownhom esalesdecreased by11% m onth-over-m onth,to 518,and were0.4% above October2022. Thesales-to-listing ratio fortow nhom esin theVancouver Region,at24% ,reflected aselers'm arket. Thetownhom em edian pricein Octoberwas$920,000,a 1.1% increasefrom Septem berand 6% aboveO ctober 2022. Theaveragesold pricewas$1,003,527,1.2% below last m onth;theaveragePSF salepricewas$678,up 2% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 7% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 5% VS 2022
▲ 6% VS 2022
▼ 0.5% VS 2022
▲ 0.4% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
24% 518 2,151
24% 516 2,162
0.9% 0.4% -0.5%
28% 580 2,084
2% -1.2% 1.1% -13% -11% 3%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$678 $1,003,527 $920,000
$663 $1,015,510 $910,000
$635 $956,288 $870,000
7% 5% 6%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● OCT 2022 ● OCT 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
2,162
2,151
1,998
1,885
2,084
1,789 1,840
1,883
1,571
1,589
1,567
1,529
1,507
944 947
757
548
784
767
671
516
518
580
415
339
289
$870K $860K $840K $810K
$860K $865K $899K $922K $915K $920K $900K $910K $920K
VancouverRegion REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
700
80
600
4+ bdrms
490
500
283
400
3 bdrms
1,142
300
34%
142
26%
200
24%
23% 21%
2 bdrms
19%
473
14%
100
7%
0
13
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
46
S-L RATIO SALES INVENTORY
36 5 14%
84 20 24%
372 127 34%
654 170 26%
417 95 23%
250 52 21%
215 41 19%
123 8 7%
Copyright© 2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber3,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 6 ●
vancouverregion CONDO -OCTOBER 2 0 2 3
SALES TO LISTINGSRATIO 22% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere6,249 condolistingsin theVancouverRegion in O ctober,5% aboveSeptem berand 13% higherthan October2022. O ctobercondosalesincreased by3% m onth-over-m onth, to1,366,and were7% aboveOctober2022.
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 6% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 5% VS 2022
▲ 3% VS 2022
▲ 13% VS 2022
▲ 7% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
Thesales-to-listing ratio forcondosin the Vancouver Region,at22% ,reflected aselers'm arket.
TOTALLISTINGS TOTALSALES
1,366 6,249
1,274 5,526
6% 5% 3% -5% 7% 13%
1,332 5,979
3% 5%
Thecondom edian pricein Octoberwas$651,000,a0.2% increasefrom Septem berand 3% aboveO ctober2022. Theaveragesold pricewas$747,402,0.1% abovelast m onth;theaveragePSF salepricewas$882,down 0.1% tolastm onth.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$882 $747,402 $651,000 22%
$831 $713,439 $635,000 23%
$883 $746,548 $650,000 22%
-0.1% 0.1% 0.2% -1.9%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● OCT 2022 ● OCT 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
5,979
6,249
5,404
5,275
5,200
5,526
4,753
4,603
5,264
4,924
4,769
4,365
4,138
2,251
2,142
1,808
1,690
1,121
1,900
1,366
1,744
1,274
1,332
1,217
923
770
$675K $665K $661K $670K $650K $651K
$635K $625K
$625K $630K $630K $640K $652K
VancouverRegion REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
2000
44 1
4+ bdrms
1500
76
3 bdrms
1000
683
32% 32%
729
24%
500
2 bdrms
18%
3,366
13% 13% 15%
4%
0
560
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
212 67 32%
1,437 456 32%
1,887 461 24%
1,081 198 18%
527 71 13%
367 46 13%
334 50 15%
404 17 4%
2,156
Copyright© 2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber3,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 7 ●
greatervancouverboard area DETACHED -OCTOBER 2 0 2 3
SALES TO LISTINGSRATIO 13% BALANCEDMARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 9% VS 2022
▲ 11% VS 2022
▲ 12% VS 2022
▲ 0.2% VS 2022
Therew ere 4,426 detached listingsin the G reater Vancouverboard areain O ctober,2.0% below Septem ber and 12% higherthan October2022. O ctoberdetached hom esalesincreased by 4% m onth-over-m onth,to 579,and were0.2% above October2022. Thesales-to-listing ratio fordetached in the G reater Vancouverboard area,at13% ,reflected abalanced market. Thedetachedm edian pricein Octoberwas$1,905,000,a 3% increasefrom Septem berand 11% aboveO ctober 2022. Theaveragesold pricewas$2,242,754,3% abovelast m onth and up 9% toOctober2022.
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
13% 579 4,426
15% 578 3,954
9% 11% -11% 0.2% 12%
12% 559 4,515
3% 3% 6% 4% -2%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$2,170,992 $1,850,000
$2,242,754 $1,905,000
$2,064,027 $1,715,000
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
4,426
3,964
4,515
3,954
3,598
4,092
4,029
1.83
3,579
2,968
1.72
1.68
3,228
3,077
2,928
1.54
1.52
2,801
1.47
1,036
733
490 371
578
301
579
842
804
681
594
559
513
$1.81M $1.87M $1.90M $1.86M $1.81M $1.89M $1.85M $1.91M $1.71M
$1.72M
$1.69M $1.70M $1.58M
22-Oct
23-Sep 23-Oct
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
1600
1400
1200
1000
800
600
400
21%
20%
18%
17%
16%
16%
11%
200
7%
4%
0
<$600K
$600-799K
$800-999K
$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M
$2.0M -2.49M
$2.5M -2.99M
$3M+ 1,527 101 7%
S-L RATIO SALES INVENTORY
66 14 21%
47 2 4%
132 21 16%
211 38 18%
342 59 17%
884 179 20%
639 102 16%
578 63 11%
Copyright© 2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber3,2023.Aldatafrom RealEstateBoardof GreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipient oftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained from aren ieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
8
greatervancouverboard area TOWNHOME-OCTOBER 2 0 2 3
SALES TO LISTINGSRATIO 24% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere1,220 townhom elistingsin theG reater Vancouverboard areain O ctober,4% aboveSeptem ber and 5% higherthan October2022. O ctobertownhom esalesdecreased by1.3% m onth-over-m onth,to 298,and were10% aboveO ctober 2022. Thesales-to-listing ratio fortow nhom esin theG reater Vancouverboard area,at24% ,reflected aselers'm arket. Thetownhom em edian pricein Octoberwas$1,049,950, a4% decreasefrom Septem berand 2% aboveO ctober 2022. Theaveragesold pricewas$1,129,070,3% below last m onth;theaveragePSF salepricewas$784,up 1.6% to lastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 5% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 1.1% VS 2022
▲ 2% VS 2022
▲ 5% VS 2022
▲ 10% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
24% 298 1,220
23% 271 1,161
5% 1.1% 2% 5% 10% 5%
26% 302 1,173
1.6% -3% -4% -5% -1.3% 4%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$784 $1,129,070 $1,049,950
$772 $1,159,494 $1,096,500
$745 $1,117,234 $1,025,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● OCT 2022 ● OCT 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,220
1,161
1,053
1,030 1,033
1,173
992
910
1,024
910
845
823
816
499
470
368
352
306
396
391
298
271
185
302
226
120
$1.09M $1.09M $1.06M $1.10M $1.05M
$1.02M
$1000K $1.05M $1.05M
$985K $979K $1.04M
$949K
REBGV
FVREB
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
300
39
250
4+ bdrms
223
200
169
3 bdrms
150
677
35%
100
31% 32%
79
25%
22% 19%
2 bdrms
14%
280
50
7%
0
11
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
40
S-L RATIO SALES INVENTORY
14 2 14%
32 10 31%
124 40 32%
232 81 35%
278 70 25%
211 47 22%
206 40 19%
123 8 7%
Copyright© 2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber3,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 9 ●
greatervancouverboard area CONDO -OCTOBER 2 0 2 3
SALES TO LISTINGSRATIO 22% SELLERS'M ARKET
▶ MARKETSUMMARY
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 6% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 6% VS 2022
▲ 6% VS 2022
▲ 13% VS 2022
▲ 5% VS 2022
Therewere4,782 condolistingsin theG reater Vancouverboard areain O ctober,5% aboveSeptem ber and 13% higherthan October2022. O ctobercondosalesincreased by6% m onth-over-m onth, to1,047,and were5% aboveOctober2022.
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
Thesales-to-listing ratio forcondosin the G reater Vancouverboard area,at22% ,reflected aselers'm arket.
TOTALLISTINGS TOTALSALES
1,047 4,782
24% 997 4,223
6% 6% 6% -7% 5% 13%
22% 988 4,567
6% 5%
Thecondom edian pricein Octoberwas$715,000,a0.5% increasefrom Septem berand 6% aboveO ctober2022. Theaveragesold pricewas$809,846,0.8% below last m onth;theaveragePSF salepricewas$952,down 0.6% tolastm onth.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$952 $809,846 $715,000 22%
-0.6% -0.8% 0.5% 1.2%
$957 $816,350 $711,400
$898 $766,622 $677,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● OCT 2022 ● OCT 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
4,567
4,782
4,17
4,038
4,223
3,693
3,928
3,922
3,734
3,707
3,530
3,348
3,163
1,734
1,573
1,317
1,276
1,413
1,047
997
1,285
988
932
848
706
572
$729K $726K $725K $721K $711K $715K
$677K $680K $685K $690K $680K $705K $720K
REBGV
FVREB
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
1400
42 1
4+ bdrms
1200
1000
64
800
3 bdrms
576
600
36%
30%
28%
541
400
2 bdrms
19%
2,513
14% 13% 15%
200
4%
0
441
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
101 30 30%
713 255 36%
1,404 390 28%
993 192 19%
505 69 14%
352 46 13%
325 49 15%
389 16 4%
1,651
Copyright© 2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber3,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 10 ●
fraservaley board area DETACHED -OCTOBER 2 0 2 3
SALES TO LISTINGSRATIO 12% BUYERS'M ARKET
▶ MARKETSUMMARY Therew ere 3,220 detached listingsin the FraserValey board areain O ctober,0.1% aboveSeptem berand 27% higherthan October2022. O ctoberdetached hom esalesdecreased by 0.8% m onth-over-m onth,to 373,and were14% aboveO ctober 2022. Thesales-to-listing ratio fordetached in the FraserValey board area,at12% ,reflected abuyers'm arket. Thedetachedm edian pricein Octoberwas$1,400,000,a 4% decreasefrom Septem berand 6% aboveO ctober 2022. Theaveragesold pricewas$1,522,597,3% below last m onth and up 6% toOctober2022.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 6% VS 2022
▲ 6% VS 2022
▲ 27% VS 2022
▲ 14% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
12% 373 3,220
13% 327 2,541
6% 6% -10% 14% 27%
12% 376 3,217
-0.9% -0.8% 0.1%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$1,573,660 $1,460,000
-3% -4%
$1,522,597 $1,400,000
$1,442,288 $1,320,000
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
3,220
2,946
3,217
2,794
3,024
2,533
1.76
2,541 2,344
1.71
1.70
1.60
1,939
1.58
1.52
1,998
1,858
1,848
1,752
772
590
448
313
258
658
213
590
373
327
448
376
323
$1.46M $1.44M $1.46M $1.40M
$1.43M $1.50M $1.50M
$1.32M $1.24M
$1.28M $1.28M $1.31M $1.35M
22-Oct
23-Sep 23-Oct
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
1000
800
600
400
35%
30%
27%
17%
200
16%
9%
7%
6%
4%
0
<$600K
$600-799K
$800-999K
$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M
$2.0M -2.49M
$2.5M -2.99M
$3M+
S-L RATIO SALES INVENTORY
60 21 35%
47 14 30%
139 24 17%
279 74 27%
605 97 16%
985 84 9%
402 24 6%
274 19 7%
429 16 4%
Copyright© 2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber3,2023.Aldatafrom RealEstateBoardof GreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipient oftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained from aren ieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
11
fraservaley board area TOWNHOME-OCTOBER 2 0 2 3
SALES TO LISTINGSRATIO 24% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere931 townhom elistingsin theFraserValey board areain O ctober,2% aboveSeptem berand 7% lowerthan October2022. O ctobertownhom esalesdecreased by21% m onth-over-m onth,to 220,and were10% below O ctober 2022. Thesales-to-listing ratio fortow nhom esin theFraser Valey board area,at24% ,reflected aselers'm arket. Thetownhom em edian pricein Octoberwas$824,000,a 0.9% decreasefrom Septem berand 7% aboveO ctober 2022. Theaveragesold pricewas$833,473,3% below last m onth;theaveragePSF salepricewas$534,down 2.0% tolastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 4% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 7% VS 2022
▲ 7% VS 2022
▼ 7% VS 2022
▼ 10% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No. 31% 278 911
% Change
TOTALLISTINGS TOTALSALES
24% 220 931
24% 245 1,001
4% 7% 7% -3% -10% -7%
-2% -3% -0.9% -23% -21% 2%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$534 $833,473 $824,000
$544 $859,096 $831,750
$513 $778,263 $770,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● OCT 2022 ● OCT 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
945
1,001
91
931
852
797
859
684
810
751
684
679
661
477
445
389
278
388
376
319
245
220
242
189
169
154
$839K $850K $851K $849K $825K $832K $824K
$770K $798K $745K $745K
$770K $808K
FVREB
REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
400
41
4+ bdrms
267
300
114
3 bdrms
465
200
35%
63
21%
2 bdrms
19%
18%
100
193
14%
13% 11%
0
6 2
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
S-L RATIO SALES INVENTORY
22 3 14%
52 10 19%
248 87 35%
422 89 21%
139 25 18%
39 5 13%
9 1 11%
Copyright© 2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber3,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 12 ●
fraservaley board area CONDO -OCTOBER 2 0 2 3
SALES TO LISTINGSRATIO 22% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere1,467 condolistingsin theFraserValey board areain O ctober,4% aboveSeptem berand 13% higherthan October2022. O ctobercondosalesdecreased by7% m onth-over-m onth, to319,and were15% aboveOctober2022.
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 11% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 4% VS 2022
▲ 1.8% VS 2022
▲ 13% VS 2022
▲ 15% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
Thesales-to-listing ratio forcondosin the FraserValey board area,at22% ,reflected aselers'm arket.
TOTALLISTINGS TOTALSALES
22% 319 1,467
21% 277 1,303
11% 4% 1.8% 2% 15% 13%
24% 344 1,412
-2% -0.7% -2% -11% -7% 4%
Thecondom edian pricein Octoberwas$514,000,a2% decreasefrom Septem berand 1.8% aboveO ctober2022. Theaveragesold pricewas$542,450,0.7% below last m onth;theaveragePSF salepricewas$655,down 2% to lastm onth.
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$655 $542,450 $514,000
$670 $546,069 $527,000
$591 $522,019 $505,000
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● OCT 2022 ● OCT 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
1,467
1,272
1,237
1,412
1,303
1,190
1,342
1,287
1,073
1,060 1,062
1,017
975
569
491
414
517
487
273
459
319
277
344
285
217
198
$538K $540K $527K $514K
$505K $490K $485K $497K
$499K $510K $510K $535K $528K
FVREB
REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
700
4+ bdrms
2
600
500
12
3 bdrms
400
107
300
33%
28%
188
200
2 bdrms
15%
853
11%
100
7% 9%
7%
0
119
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
111 37 33%
724 201 28%
483 71 15%
7%
22 2 9%
15 0 n/a
9 1 11%
7%
505
88 6
15 1
Copyright© 2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber3,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 13 ●
burnabynorth DETACHED -OCTOBER 2 0 2 3
SALES TO LISTINGSRATIO 25% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere104 detachedlistingsin BurnabyN orth in O ctober,3% below Septem berand 9% higherthan October2022. O ctoberdetached hom esalesincreased by 44% m onth-over-m onth,to 26,and were8% aboveO ctober 2022. Thesales-to-listing ratio fordetached in Burnaby N orth, at25% ,reflected aselers'm arket. Thedetachedm edian pricein Octoberwas$1,890,000,a 8% decreasefrom Septem berand 7% below O ctober 2022. Theaveragesold pricewas$2,014,750,1.4% below last m onth and down 2% toOctober2022.
AVERAGEPRICE
MEDIAN PRICE
TOTALLISTINGS
SALES
▼ 2% VS 2022
▼ 7% VS 2022
▲ 9% VS 2022
▲ 8% VS 2022
THISMONTH No. $2,014,750 $1,890,000 25% 26 104
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
24 95
8% 9%
$2,043,867 $2,065,000 17% 18 107
49% 44% -3%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE
$2,064,174 $2,041,250 25%
-2% -7% -1%
-1.4% -8%
▶ RATIO OFMEDIAN PRICES
▶ RECENTTRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
104
107
92
90
95
87
86
85
2.78
87
87
86
85
2.63
79
42
1.99
35
31
26
26
18
24
31
22
1.43
19
18 18
10
1.12
1.11
$2.09M $2.05M $2.05M
$2.04M $1.96M
$1.96M $1.93M $1.89M
$1.95M $2.07M
$1.89M
$1.85M
$1.79M
22-Oct
23-Sep 23-Oct
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY ● S-L RATIO
30
25
20
61%
15
10
23%
5
5%
4%
0
<$600K
$600-799K
$800-999K
$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M
$2.0M -2.49M
$2.5M -2.99M
$3M+
S-L RATIO SALES INVENTORY
28 17 61%
31 7 23%
21 1 5%
24 1 4%
Copyright© 2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber3,2023.Aldatafrom RealEstateBoardof GreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipient oftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained from aren ieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
14
burnabynorth TOWNHOME-OCTOBER 2 0 2 3
SALES TO LISTINGSRATIO 29% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere45 townhom elistingsin BurnabyN orth in O ctober,nochangetoSeptem berand nochangeto October2022. O ctobertownhom esalesincreased by63% m onth-over-m onth,to 13,and were8% aboveO ctober 2022. Thesales-to-listing ratio fortow nhom esin Burnaby N orth,at29% ,reflected aselers'm arket. Thetownhom em edian pricein Octoberwas$950,000,a 28% increasefrom Septem berand 23% aboveO ctober 2022. Theaveragesold pricewas$908,184,11% abovelast m onth;theaveragePSF salepricewas$645,down 0.7% tolastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 10% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 16% VS 2022
▲ 23% VS 2022
0.0% VS 2022
▲ 8% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
13 45
12 45
8% 8% 0%
$650 $814,663 $742,500 18% 8 45
-0.7% 11% 28% 62% 63% 0%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$645 $908,184 $950,000 29%
$588 $785,729 $775,000 27%
10% 16% 23%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● OCT 2022 ● OCT 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
45
45
45
34 34
33
32
31
31
31
28
25 25 25
23
17
21
13
15
12
14
1
1
8
8
7
$950K
$915K
$875K $868K
$880K $885K $900K
$810K
$790K $830K
$775K
$748K
$743K
BURNABYNORTH REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
14
4
4+ bdrms
12
3
10
67%
6
3 bdrms
8
27
40%
6
36%
1
4
2 bdrms
14%
14%
13
2
0
2 2
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
S-L RATIO SALES INVENTORY
3 2 67%
14 2 14%
10 4 40%
11 4 36%
7 1 14%
Copyright© 2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber3,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 15 ●
burnabynorth CONDO -OCTOBER 2 0 2 3
SALES TO LISTINGSRATIO 22% SELLERS'M ARKET
▶ MARKETSUMMARY Therewere429 condolistingsin BurnabyN orth in O ctober,9% aboveSeptem berand 63% higherthan October2022. O ctobercondosalesincreased by11% m onth-over-m onth,to93,and were60% aboveO ctober 2022. Thesales-to-listing ratio forcondosin Burnaby N orth,at 22% ,reflected aselers'm arket. Thecondom edian pricein Octoberwas$664,000,a0.6% decreasefrom Septem berand 4% below O ctober2022. Theaveragesold pricewas$720,971,1.4% below last m onth;theaveragePSF salepricewas$887,down 0.6% tolastm onth.
AVERAGEPRICE
AVERAGE PSF PRICE ▲ 1.0% VS 2022
MEDIAN PRICE
TOTALLISTINGS
SALES
▲ 3% VS 2022
▼ 4% VS 2022
▲ 63% VS 2022
▲ 60% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No.
% Change
No.
% Change
TOTALLISTINGS TOTALSALES
$887 $720,971 $664,000 22% 93 429
$878 $700,326 $692,000 22% 58 264
60% 63%
$892 $731,354 $668,000 21% 84 392
-0.6% -1.4% -0.6% 1.2% 11% 9%
SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
1% 3% -4% -1.3%
▶ AVG PRICEPERSQUAREFOOT
▶ RECENTTRENDS
● OCT 2022 ● OCT 2023
● SALES ● TOTALINVENTORY ● MEDIAN PRICE
429
339
392
357
301
268
253
299
264
270
251
245
218
120 121
12
104
92
93
16
109
50
58
84
52
44
$692K $704K $667K $707K $661K $708K $680K
$696K $730K
$683K $652K $668K $664K
BURNABYNORTH REBGV
▶ NUMBEROFBEDROOMS
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET 21% +
BALANCED 12 - 20%
BUYERS'MARKET <12%
● SALES ● TOTALINVENTORY
● SALES ● TOTALINVENTORY ● S-L RATIO
150
4+ bdrms
100
10
3 bdrms
42
32%
50
27%
46
2 bdrms
16%
253
11% 13%
0
37
<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +
<2 bdrms
S-L RATIO SALES INVENTORY
1 0 n/a
75 24 32%
161 43 27%
117 19 16%
44 5 11%
16 2 13%
8 0 n/a
7 0 n/a
134
Copyright© 2023ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofNovem ber3,2023.Aldatafrom RealEstateBoardofGreaterVancouverand FraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshouldtakestepsas therecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationis subjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 16 ●
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