the rennie review DATA DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR SUB MARKETS IN THE VANCOUVER REGION
published April 2020
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 Vancouver and the Lower Mainland. This report examines the market stats by neighbourhood, current rennie projects, and more.
NEIGHBOURHOOD PROFILES
05 08 11 14 17 20 23 26 29 32 35 38 41
Greater Vancouver Board Area
Burnaby North Burnaby South
Coquitlam
Fraser Valley Board Area
Andrew Ramlo VP Intelligence aramlo@rennie.com
Ryan Berlin Senior Economist rberlin@rennie.com
Langley
North Vancouver
Richmond Squamish
Surrey
Vancouver East Vancouver West West Vancouver
43 CURRENT PROJECTS
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 January 6, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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. 2
measuring the effects of a global shutdown
as the official tally of unemployment rose by 117,300. Numbers aside, we know that virtually every business in Canada has been affected one way or another by our response to COVID-19, and mostly in a negative way. So the situation is, for now, challenging. Unlike at the outset of past severe downturns like the Great Depression of the early-1930s and the Great Recession of 2008/9, however, we know that this mandated economic shutdown has an end to it. Canada’s unprecedented federal economic stabilization package, the myriad provincial stimulus plans, and the Bank of Canada’s aggressive monetary policy-- including the heretofore unicorn of the Bank’s arsenal, Quantitative Easing--are all aimed at bridging us fromwhere we are to where we need to be. We are in the midst of a 12-round, heavyweight boxing match that we are going to win, but that will leave us groggy and needing time to recover. What will that recovery look like?Will it be v-shaped? U-shaped? Arabic Baa-shaped? A square root sign?We don’t know. But at rennie, and in each month’s rennie review just as we’ve always done, we will continue to collect and analyze the latest data that will help us navigate the path that lies ahead. That much, you can expect.
expected, but we expect April’s resales to be far below those of March. More reflective of our current predicament than sales counts, perhaps, is that the number of withdrawn listings rose by 29% between the first and second halves of March (compared to virtually no change inMarch 2019)--a harbinger of things to come. Moving on to the latest jobs data, which were released just last week, we see a Canadian unemployment rate that has jumped from 5.6% in February to 7.8% inMarch. This is a sizeable expansion to be sure, but it is based on the number of unemployed people across the country growing by 1.01 million--far less than the estimated 4 million people who applied for EI benefits in the past fewweeks. (Why the discrepancy? Because the latest jobs data, from Statistics Canada’s Labour Force Survey, were collected betweenMarch 15-21 and therefore only captured the initial impacts of the Suppression.) Here inMetro Vancouver, the region’s unemployment rate rose from 4.4% to 7.5% between February andMarch
There is a well-known saying that the best laid plans often go awry; that, of course, we never really do expect the unexpected. Indeed, here we are in April 2020 in the midst of a self-imposed economic lockdown, one month after a global pandemic was declared. Few people (if any) predicted the scale and scope of what we are now experiencing. And as we settle into new routines and realities (temporarily, at least), it is instructive to consider what the data are telling us about the state of our economy and our resale market. Interestingly (and somewhat frustratingly to market analysts), the latest data on our local resale market and on our economy have not fully captured the effects of our coordinated economic shutdown. In looking at resale trends inMetro Vancouver, sales processed in the second half of March 2020 were only down 8% versus the first half of the month (in 2019 they increased by 3% between the first and second halves of March). Not as bad as one might have
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 January 6, 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. 3
featured listings SEARCH FOR THE HOME YOU LOVE AT RENNIE.COM
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Pinnacle , YALETOWN - Homer St. Studio, SF
Dorchester Circle , RICHMOND - Moffatt Rd. Bed, SF Jessica Lozada PREC* ..
Ryan O’Hearn ..
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 April 3, 2020. 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
DETACHED MARCH greater vancouver board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 0.7 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
30 % DOWN
8 % UP
-
62 % UP
SELLER’S 21 %
Detached listings in the REBGV decreased to 4,161 in March, 1.8% below February and 30% lower vs March 2019. Detached sales, at 862, increased 26% compared to February and were 62% higher vs March 2019. The sales-to-listings ratio increased to 21%, as the REBGV detached market transitioned to seller’s market territory. The detached benchmark price in March was $1.45M, increasing 1.2% month-over-month and a 0.7% increase year-over-year. The average sold price was $1.71M, up 7% from the previous month and 8% higher year-over-year.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
4,161
4,239
-1.8% 5,965
-30% 62% 133%
TOTAL SALES
862 21%
686 16%
26% 28%
531
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
9%
$1,450,700 $1,433,900 1.2% $1,440,900 0.7%
$1,709,750 $1,602,366
7% $1,583,318
8%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.45
$1.44
$1.43
$1.42
$1.42
$1.42
$1.41
1.87
1.83
1.83
6,827
6,653
6,209
5,965
5,293
1.16
1.16
1.15
4,161
4,171
915
862
851
832
752
531
442
Mar-19
Feb-20
Mar-20
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
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 April 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.
5
greater vancouver board area
TOWNHOME MARCH
AVERAGE PRICE
AVERAGE PSF PRICE 3 % UP
BENCHMARK PRICE 2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
29 % DOWN
5 % UP
46 % UP
SELLER’S 33 %
The number of townhome listings in the REBGV fell to 1,242 in March, 2% below February and 29% lower year-over-year. Townhome sales in March, at 409, were up 20% vs February and were 46% above last year. The sales-to-listings ratio increased to 33% as the REBGV townhome market remained favourable to sellers. The townhome benchmark price in March was $791,800, increasing 0.9% from February and 2% higher than in March 2019. The average sold price was $855,744, with an average PSF sales price of $591 (both up 6% vs February).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,242
1,272
-2% 20% 23%
1,744
-29% 46% 105%
TOTAL SALES
409 33%
340 27%
280 16%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$791,800 $785,000 $855,744 $809,640
0.9% $772,500 6% $813,919
2% 5% 3%
$591
$560
6%
$575
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$772,500 $779,400 $770,000 $767,500 $772,800 $782,500 $791,800
2,107
2,089
1,946
1,744
1,575
1,177 1,242
412
409
404
397
355
280
271
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
59
4+ bdrms
BUYER'S MARKET
245
247
3 bdrms
661
103
<3 bdrms
. . . . 0 0 0 0
336
S-L RATIO SALES INVENTORY
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 April 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.
6
greater vancouver board area
CONDO MARCH
AVERAGE PRICE
AVERAGE PSF PRICE 6 % UP
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
7 % UP
23 % DOWN
36 % UP
SELLER’S 29 %
The number of condo listings in the REBGV increased to 4,029 in March, 5% above February but 23% below March 2019. At 1,184, condo sales were 11% higher month-over- month and 36% higher year-over-year. The sales-to-listings ratio increased to 29%, as the REBGV condo market remained in seller’s market territory. The condo benchmark price in March was $687,000, 1.4% above February and up 3% compared to March 2019. The average sold price was $699,015 (increasing 5% from February) with an average PSF sales price of $808 (1.1% higher vs February).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
4,029 1,184
3,847 1,063
5%
5,259
-23% 36% 77%
TOTAL SALES
11%
872 17%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
29%
28%
6%
$687,000 $677,200 $699,015 $666,857
1.4% $667,500 5% $652,153
3% 7% 6%
$808
$799
1.1%
$759
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$667,500 $664,200 $653,200 $651,500 $651,500 $663,200 $687,000
6,203
5,962
5,589
5,259
4,488
4,029
3,595
1,243
1,243
1,219
1,184
1,167
872
814
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
64
3+ bdrms
BUYER'S MARKET
489
642
2 bdrms
2,284
478
<2 bdrms
. . . . 0 0 0 0
1,256
S-L RATIO SALES INVENTORY
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 April 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.
7
DETACHED MARCH burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
49 % DOWN
12 % UP
-
107 % UP
30 %
The number of detached listings in Burnaby North in March, at 105, were 5% lower month-over-month and 49% lower year-over-year. With 31 in March, detached sales were 7 above last month and 16 higher vs last year. The sales-to-listings ratio increased to 30%, as Burnaby North’s detached market remained in seller’s territory. The benchmark price in March was $1.45M, increasing 2% from February and 3% above March 2019. The average sold price was $1.56M, down 15% from the previous month but 12% above March 2019.
VS
VS
VS
VS
VS
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 110
% Change
No. 206
% Change
TOTAL LISTINGS
105
-5% 29% 35%
-49% 107% 305%
TOTAL SALES
31
24
15 7%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
30%
22%
$1,453,100 $1,418,400
2% $1,411,700
3%
$1,558,386 $1,838,826 -15% $1,393,274
12%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.45
$1.42
$1.41
$1.41
$1.38
$1.37
$1.35
2.00
1.95
1.94
248
239
206
201
1.20
1.19
1.18
154
110
105
39
33
33
31
27
24
15
Mar-19
Feb-20
Mar-20
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
S-L RATIO SALES INVENTORY
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 April 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.
8
TOWNHOME MARCH burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE 3 % UP
BENCHMARK PRICE 0.2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
5 % DOWN
29 % DOWN
50 % UP
SELLER’S 43 %
The number of townhome listings in Burnaby North declined 13% from last month, settling at 42, and was 29% below March 2019. Townhome sales, at 18, were 5 higher vs last month and 6 above March 2019. The sales-to-listings ratio increased to 43% in March, as Burnaby North’s townhome segment remained a seller’s market. The benchmark price in March remained unchanged from February at $727,700, and was relatively unchanged vs March 2019. The average sold price was $703,017 in March, (increasing 16% vs February) while the average PSF sales price was $541 (increasing 14%).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
42 18
48 13
-13% 38% 58%
59 12
-29% 50% 111% 0.2%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
43%
27%
20%
$727,700 $727,700 $703,017 $605,470
0.0% $726,000 16% $740,125
-5%
$541
$474
14%
$524
3%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$726,000 $730,300 $723,100 $729,500 $728,500 $720,700 $727,700
80
75
68
65
59
42
36
19
18
17
15
14
13
12
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
1
4+ bdrms
BUYER'S MARKET
5
12
3 bdrms
23
5
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD
14
S-L RATIO SALES INVENTORY
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 April 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.
9
CONDO MARCH burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE 4 % UP
BENCHMARK PRICE 2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
3 % UP
13 % DOWN
51 % UP
SELLER’S 31 %
There were 229 condo listings in Burnaby North in March, 13% above February but 13% lower vs March 2019. March condo sales increased by 17 month-over- month and were 24 above March 2019. The sales-to-listings ratio for condos in Burnaby North increased to 31%, remaining a seller’s market. The condo benchmark price in March was $616,500, 0.5% above February and 2% higher vs March 2019. The average sold price was $616,499, 3% above last month; the average PSF sales price was $720, down 2% from last month.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 202
% Change
No. 263
% Change
TOTAL LISTINGS
229
13% 31% 16%
-13% 51% 73%
TOTAL SALES
71
54
47
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
31%
27%
18%
$616,500 $613,200 $616,499 $599,829
0.5% $602,900 3% $595,966
2% 3% 4%
$720
$738
-2%
$693
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$602,900 $615,100 $609,500 $591,400 $595,900 $606,900 $616,500
324
316
308
263
229
219
176
86
84
73
72
71
55
47
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
5
BUYER'S MARKET
3+ bdrms
14
44
2 bdrms
147
22
<2 bdrms
. . . . 0 0 0 0 QD QD QD
68
S-L RATIO SALES INVENTORY
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 April 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.
10
DETACHED MARCH burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
11 % UP
38 % DOWN
-
52 % UP
SELLER’S 24 %
There were 133 detached listings in the Burnaby South market area in March, 9% below last month and 38% lower vs March 2019. Detached sales rose by 11, to 32, both month-over- month and year-over-year. The sales-to-listings ratio increased to 24%, as Burnaby South’s detached market transitioned to seller’s market territory. The benchmark price in March was $1.49M, 1.1% above the previous month but a 3% decline vs last year. The average sold price for detached homes was $1.76M, 11% higher month-over-month and year-over-year.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 146
% Change
No. 213
% Change
TOTAL LISTINGS
133
-9% 52% 67%
-38% 52% 144%
TOTAL SALES
32
21
21
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
24%
14%
10%
$1,493,500 $1,477,800 1.1% $1,545,200
-3% 11%
$1,761,335 $1,588,857
11% $1,580,590
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.55
$1.51
$1.49
$1.49
$1.49
$1.48
$1.46
1.98
1.94
1.91
242
225
224
213
178
1.14
1.14
1.14
140
133
40
32
32
23
23
21
14
Mar-19
Feb-20
Mar-20
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
S-L RATIO SALES INVENTORY
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 April 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.
11
TOWNHOME MARCH burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
8 % UP
51 % DOWN
0.3 % DOWN
1.8 % UP
1.4 % DOWN
SELLER’S 28 %
Townhome listings in the Burnaby South market area in March (at 47) were up 2% from last month but 51% below last year. The 13 townhome sales were unchanged month- over-month and 1 higher year-over-year. The sales-to-listings ratio remained at 28%, as Burnaby South’s townhome market continued to favour sellers. The benchmark price in March was $768,400, 0.6% below February and 1.4% lower year-over-year. The average sold price was $780,568 (down 4% from February) with an average PSF sales price of $631 (up 4% vs February).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
47 13
46 13
2%
95 12
-51%
TOTAL SALES
0.0%
8%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
28%
28%
-2%
13%
119% -1.4% -0.3% 1.8%
$768,400 $773,400 $780,568 $813,284
-0.6% $779,500 -4% $782,750
$631
$607
4%
$620
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$779,500 $781,500 $760,600 $757,100 $769,600 $768,100 $768,400
104
102
95
93
68
47
46
22
22
17
14
13
12
7
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
6
6
3 bdrms
25
7
<3 bdrms
. . . . 0 0 0 0 QD QD QD
16
S-L RATIO SALES INVENTORY
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 April 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.
12
CONDO MARCH burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE 5 % UP
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
7 % UP
36 % DOWN
1.0 % DOWN
44 % UP
SELLER’S 34 %
The number of condo listings in Burnaby South, at 256, increased 1.2% month-over-month but fell 36% vs last year. March’s condo sales, at 88, were 28% above last month and 44% higher than last year. The sales-to-listings ratio increased to 34% in March, as Burnaby South’s condo segment remained in seller’s market territory. The condo benchmark price in March was $674,900, down 0.5% vs February and a 1.0% decrease from March 2019. The average sold price was $652,483 with an average PSF sales price of $777 (3% and 4% higher, respectively, vs February).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 253
% Change
No. 401
% Change
TOTAL LISTINGS
256
1.2% 28% 26%
-36% 44% 126% -1.0%
TOTAL SALES
88
69
61
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
34%
27%
15%
$674,900 $678,200 $652,483 $635,385
-0.5% $681,400 3% $609,712
7% 5%
$777
$744
4%
$738
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$681,400 $676,400 $653,500 $654,500 $647,300 $661,700 $674,900
460
435
425
401
334
258
256
110
88
88
77
73
62
61
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
6
3+ bdrms
BUYER'S MARKET
26
56
2 bdrms
171
26
<2 bdrms
. . . . 0 0 0 0 QD QD
59
S-L RATIO SALES INVENTORY
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 April 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.
13
coquitlam
DETACHED MARCH
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 19 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
2 % UP
-
34 % DOWN
56 % UP
SELLER’S 23 %
The number of detached listings in Coquitlam increased to 322 in March, 7% above February but 34% lower year-over-year. The 75 detached sales in March represented an increase of 12% from February and a 56% jump vs March of last year. Coquitlam’s sales-to-listings ratio slightly increased to 23% as the detached segment remained in seller’s market territory. The benchmark price in March was $1.19M, increasing 1.4% from February and a 2% increase year-over-year. The average sold price was $1.34M in March, up 5% vs February and a 19% increase vs March 2019.
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 302
% Change
No. 488
% Change
TOTAL LISTINGS
322
7%
-34% 56% 137%
TOTAL SALES
75
67
12%
48
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
23%
22%
5%
10%
$1,190,000 $1,173,300 1.4% $1,161,600
2%
$1,336,960 $1,278,758
5% $1,119,560
19%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
MILLIONS
$1.19
$1.17
$1.17
$1.16
$1.16
$1.16
$1.15
1.82
1.75
1.75
572
568
504
488
409
1.25
1.25
1.22
322
314
89
86
80
75
71
48
39
Mar-19
Feb-20
Mar-20
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
S-L RATIO SALES INVENTORY
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 April 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.
14
coquitlam
TOWNHOME MARCH
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 6 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
SELLER’S 56 %
6 % UP
14 % UP
39 % DOWN
45 % UP
There were 75 townhome listings in Coquitlam in March, 15% above February but 39% lower vs March 2019. The 42 townhome sales in March were up by 6 month-over-month and up by 13 year-over-year. The sales-to-listings ratio slightly increased to 56% as Coquitlam’s townhome market remained in sell- er’s market territory. The townhome benchmark price in March was $679,600, 1.2% above February and 6% higher vs March 2019. The average sold price was $813,357, with an average PSF sales price of $483 (0.3% lower and 3% higher, respectively, vs February).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No. 123
% Change
TOTAL LISTINGS
75 42
65 36
15% 17% 1.1%
-39% 45% 138%
TOTAL SALES
29
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
56%
55%
24%
$679,600 $671,500 $813,357 $816,183
1.2% $638,500 -0.3% $766,552
6% 6%
$483
$471
3%
$425
14%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$679,600
$638,500 $671,500 $653,200 $651,300 $644,200 $664,900
159
157
140
123
97
75
63
49
40
42
33
32
29
28
COQUITLAM REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
14
4+ bdrms
BUYER'S MARKET
35
26
3 bdrms
30
2
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD
10
S-L RATIO SALES INVENTORY
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 April 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.
15
coquitlam
CONDO MARCH
AVERAGE PRICE
AVERAGE PSF PRICE 7 % UP
BENCHMARK PRICE 4 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
SELLER’S 31 %
4 % DOWN
21 % DOWN
30 % UP
The 252 condo listings in Coquitlam in March were up 8% from February but 21% lower vs March 2019. Year-over-year condo sales increased 30% in March (to 79) but were 10% lower vs February. The sales-to-listings ratio decreased to 31%, as Coquitlam’s condo market remained in seller’s market territory. The condo benchmark price in March was $541,900, 0.5% higher month-over-month and 4% above March 2019. The average sold price was $532,279 in March (rela- tively unchanged vs February) while the average PSF sales price was $673 (a 1.2% increase vs February).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 233
% Change
No. 318
% Change
TOTAL LISTINGS
252
8%
-21% 30% 63%
TOTAL SALES
79
88
-10% -17%
61
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
31%
38%
19%
$541,900 $539,000 $532,279 $530,820
0.5% $522,800 0.3% $553,338
4%
-4%
$673
$665
1.2%
$628
7%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$522,800 $517,100 $516,400 $518,200 $518,200 $521,900 $541,900
404
402
367
318
289
252
184
98
93
87
77
79
71
61
COQUITLAM REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
4
3+ bdrms
BUYER'S MARKET
25
42
2 bdrms
157
33
<2 bdrms
. . . . 0 0 0 0 QD QD QD QD
70
S-L RATIO SALES INVENTORY
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 April 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.
16
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