the rennie review - January 2022

the rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION

published January 2022

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

Vancouver Region

Greater Vancouver Board Area Fraser Valley Board Area

Burnaby North Burnaby South

RyanWyse SENIOR ANALYST rwyse@rennie.com

Ryan Berlin DIRECTOR OF INTELLIGENCE & SENIOR ECONOMIST rberlin@rennie.com

Coquitlam

Langley

New Westminster North Vancouver

Richmond Squamish

Surrey

Vancouver East Vancouver West West Vancouver

49 AREA MAPS 52 CURRENT PROJECTS

Copyright © 2022 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 10, 2022. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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

Vancouver’s housing market re-wrote the record books in 2021 By the end of December, the Vancouver Region had set new all-time records for most annual sales, lowest monthly inventory, and highest benchmark prices. The challenges facing potential buyers have only intensified heading into 2022.

sit firmly in sellers’ market territory, thereby putting substantial upward pressure on prices. The benchmark price for each product type in the Vancouver Region has increased dramatically over the last year, led by detached homes which were up 30% over the course of the year to $1.76M. Townhome price increases weren’t far behind, with the benchmark price up 27% in 2021 to $914,200, followed by condos which saw a 16% increase to $769,500. The good news for potential buyers looking for a home in the new year is that inventory typically rises in the early part of each year as the pace of new listings increases. However, with inventory at such an extremely low level (with fewer than 7,000 homes available in December), and sales above long-run averages for some time, achieving a balanced market in this context will, frankly, be next to impossible in the near-term. Instead, it is overwhelmingly likely that our local housing market will continue to favour sellers as we make our way towards the spring market.

As we enter another new year, we find ourselves in somewhat familiar territory facing another spike in COVID-19 cases, and challenges in our local housing market that centre around a familiar topic – constrained inventory. Having said that, a deeper dive into the data reveals housing market dynamics that are decidedly unfamiliar to those of us in the Vancouver Region. The housing theme of 2021 in the Vancouver Region could be framed around constrained inventory, with December’s listings count the proverbial icing on the cake. The total number of homes available for purchase at the end of the year was just 6,705, the lowest it has ever been. Total inventory has only dipped below 10,000 three times in the history of this region (the data goes back to 1989), including the previous month of November 2021, and has never before been below 9,000. December’s total is a

staggering 29% below the previous all-time low set in December 2016. The record low is all the more shocking as the region has grown by more than 1.3 million people and added 500,000 homes since inventory data were first tabulated in 1989. Inventory, however, wasn’t the only record- breaking housing metric the Vancouver Region recorded in December. The region finished 2021 with 70,621 homes sold, a whopping 42% increase over 2020 and 10% higher than the previous all-time high set in 2016. Sales activity continued to be relatively robust right through the end of the year, with December recording 4,395 sales. While this total is 13% below the previous December’s, it was still 45% higher than the previous 10-year average. With all-time low inventory and all-time high annual sales in the region, conditions

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Milano

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1 Bed, 506 SF Matt Stone 604.782.2614

Tony Liang PREC* 604.781.9988

Copyright © 2022 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 10, 2022. 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.

vancouverregion DETACHED-DECEMBER 2021

SALESTO LISTINGSRATIO 48% SELLERS'MARKET

▶ MARKETSUMMARY Therewere3,121detachedlistingsintheVancouver RegioninDecember,25%belowNovemberand29% lowerthanDecember2020. Decemberdetachedhomesalesdecreasedby17% month-over-month,to1,497,andwere25%below December2020. Thesales-to-listingratiofordetachedintheVancouver Region,at48%,reflectedaselers'market. ThedetachedmedianpriceinDecemberwas$1,695,000, a0.5%increasefromNovemberand30%above December2020. Theaveragesoldpricewas$1,972,736,0.4%abovelast monthandup29%toDecember2020.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 28% VS2020

▲ 30% VS2020

▼ 28% VS2020

▼ 25% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

1,497 3,121

1,997 4,379

29% 30% 5% -25% -29%

1,797 4,183

0.4% 0.5% 12% -17% -25%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$1,972,736 $1,695,000 48%

$1,963,988 $1,686,500 43%

$1,528,158 $1,299,000 46%

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIANPRICE

7,570

7,109

7,334

5,968

1.94

1.91

5,398

6,238

1.88

5,532

4,183

4,379

4,696

4,502

3,503

4,282

1.44

1.43

2,749

3,121

3,039

1.27

1,881

1,797

1,997

2,418

2,227

1,497

1,899

1,791

1,697

1,489

$1.70M

$1.69M

$1.60M

$1.54M

$1.50M

$1.48M $1.41M

$1.48M

$1.45M

$1.46M

$1.45M

$1.35M

$1.30M

Dec-20

Nov-21

Dec-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

1400

100%

100%+ 100%+ 100%+

1200

86%

1000

800

46%

600

32%

400

25%

11%

200

<$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+ 1,388 157 11%

S-LRATIO SALES INVENTORY

76 24 32%

22 19 86%

39 39 100%

72 102 142%

182 275 151%

451 565 125%

443 204 46%

448 112 25%

Copyright©January10,202reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJanuary10,202.AldatafromRealEstate BoardofGreaterVancouverandFraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycanotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.The recipientoftheinformationshouldtakestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfromarennieandasociatesadvisor.Alinformationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromrenniegroupofcompanies.E.&O.E.

●

vancouverregion TOWNHOME-DECEMBER 2021

SALESTO LISTINGSRATIO 129% SELLERS'MARKET

▶ MARKETSUMMARY Therewere616townhomelistingsintheVancouver RegioninDecember,39%belowNovemberand61% lowerthanDecember2020. Decembertownhomesalesdecreasedby17% month-over-month,to793,andwere22%below December2020. Thesales-to-listingratiofortownhomesintheVancouver Region,at129%,reflectedaselers'market. ThetownhomemedianpriceinDecemberwas$901,500, a1.9%increasefromNovemberand34%above December2020. Theaveragesoldpricewas$968,605,1.3%belowlast month;theaveragePSFsalepricewas$661,up0.9%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 33% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 30% VS2020

▲ 34% VS2020

▼ 61% VS2020

▼ 22% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

793 616

1,013 1,588

102% -22% -61%

95% 960 1,011

0.9% -1.3% 1.9% 36% -17% -39%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$661 $968,605 $901,500 129%

$499 $744,653 $670,500 64%

$656 $981,469 $885,000

33% 30% 34%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● DEC 2020 ● DEC 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

2,039

2,026

1,747

1,727

1,980

1,643

1,608

1,487

1,588

1,682

1,414

1,357

1,441 1,020

1,405

1,126

1,01

1,204

1,013

1,01

998

960

943

793

836

616

$902K

$885K

$850K

$839K

$780K

$785K

$788K

$782K

$790K

$776K

$720K

$688K

$671K

VANCOUVERREGION REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

350

161

100%+ 100%+ 100%+ 100%+ 100%+

300

4+bdrms

105

250

78%

200

433

3bdrms

340

150

36%

100

180

21%

2bdrms

159

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

9 7 78%

34 41 121%

107 167 156%

156 325 208%

90 131 146%

77 80 104%

80 29 36%

63 13 21%

Copyright©January10,202reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJanuary10,202.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 6 ●

vancouverregion CONDO-DECEMBER 2021

SALESTO LISTINGSRATIO 73% SELLERS'MARKET

▶ MARKETSUMMARY Therewere2,767condolistingsintheVancouverRegion inDecember,32%belowNovemberand51%lowerthan December2020. Decembercondosalesdecreasedby18% month-over-month,to2,011,andwere4%above December2020. Thesales-to-listingratioforcondosintheVancouver Region,at73%,reflectedaselers'market. ThecondomedianpriceinDecemberwas$627,500,a 1.2%increasefromNovemberand18%aboveDecember 2020. Theaveragesoldpricewas$703,494,1.9%abovelast month;theaveragePSFsalepricewas$824,up2.0%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 16% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 16% VS2020

▲ 18% VS2020

▼ 51% VS2020

▲ 4% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

2,011 2,767

1,936 5,697

16% 16% 18% 114% 4% -51%

2,443 4,070

2% 1.9% 1.2% 21% -18% -32%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$824 $703,494 $627,500 73%

$710 $607,086 $530,000 34%

$808 $690,463 $619,900 60%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● DEC 2020 ● DEC 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

5,628

5,595

5,697

6,051

5,302

6,001

5,830

5,402

5,355

5,103

4,070

4,615

3,507

2,829

2,443

2,363

2,980

2,230

2,767

2,435

2,402

1,936

2,234

2,193

2,01

1,560

$628K

$620K

$608K

$598K

$588K

$590K

$585K

$583K

$574K

$575K

$550K

$542K

$530K

VANCOUVERREGION REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

800

30 8

100%+ 100%+ 100%+

700

4+bdrms

600

500

112

3bdrms

400

383

50%

41%

300

1,187

26%

200

22%

2bdrms

1,594

100

704

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

140 142 101%

515 749 145%

602 625 104%

540 271 50%

268 110 41%

195 51 26%

216 47 22%

291 16 5%

760

Copyright©January10,202reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJanuary10,202.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 7 ●

greatervancouverboardarea DETACHED-DECEMBER 2021

SALESTO LISTINGSRATIO 36% SELLERS'MARKET

▶ MARKETSUMMARY Therewere2,212detachedlistingsintheGreater VancouverboardareainDecember,23%below Novemberand23%lowerthanDecember2020. Decemberdetachedhomesalesdecreasedby19% month-over-month,to798,andwere22%below December2020. Thesales-to-listingratiofordetachedintheGreater Vancouverboardarea,at36%,reflectedaselers'market. ThedetachedmedianpriceinDecemberwas$1,850,000, a0%changefromNovemberand23%aboveDecember 2020. Theaveragesoldpricewas$2,174,586,0.6%belowlast monthandup23%toDecember2020.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 23% VS2020

▼ 23% VS2020

▼ 22% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

36% 798 2,212

1,020 2,864

23% 23% 1.3% -22% -23%

34% 987 2,877

-0.6% 0% 5% -19% -23%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$1,774,621 $1,500,000 36%

$2,187,893 $1,850,000

$2,174,586 $1,850,000

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIANPRICE

4,525

4,742

4,390

3,664

3,657

1.90

4,053

1.85

1.84

3,689

2,877

3,182

2,864

2,905

2,762

1.50

1,960

1.43

1.39

1,652

2,212

1,264

1,093

987

1,422

1,020

1,223

798

1,044

937 950

739

$1.85M

$1.76M

$1.70M

$1.67M

$1.65M $1.60M

$1.65M

$1.63M

$1.61M

$1.52M

$1.50M

Dec-20

Nov-21

Dec-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

1200

100%+ 100%+

97%

1000

81%

800

63%

600

44%

400

30%

26%

200

11%

<$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+ 1,107 119 11%

S-LRATIO SALES INVENTORY

30 9 30%

19 12 63%

27 22 81%

33 42 127%

78 107 137%

272 264 97%

308 136 44%

338 87 26%

●

greatervancouverboardarea TOWNHOME-DECEMBER 2021

SALESTO LISTINGSRATIO 90% SELLERS'MARKET

▶ MARKETSUMMARY Therewere416townhomelistingsintheGreater VancouverboardareainDecember,34%below Novemberand55%lowerthanDecember2020. Decembertownhomesalesdecreasedby28% month-over-month,to376,andwere26%below December2020. Thesales-to-listingratiofortownhomesintheGreater Vancouverboardarea,at90%,reflectedaselers'market. ThetownhomemedianpriceinDecemberwas$975,000, a2%decreasefromNovemberand20%aboveDecember 2020. Theaveragesoldpricewas$1,081,823,3%belowlast month;theaveragePSFsalepricewas$760,up0.2%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 26% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 24% VS2020

▲ 20% VS2020

▼ 55% VS2020

▼ 26% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 54% 506 929

%Change

No. 82% 520 635

%Change

TOTALLISTINGS TOTALSALES

90% 376 416

26% 24% 20% 66% -26% -55%

0.2% -3% -2% 10% -28% -34%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$760 $1,081,823 $975,000

$758 $1,114,927 $999,900

$605 $872,113 $815,500

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● DEC 2020 ● DEC 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

1,086

1,193 1,193

1,154

956

901

1,037

929

847

843

956

889

634

635

717

706

616

506

519 507

520

494 502

416

376

372

$1000K

$975K

$970K

$950K

$901K

$910K

$909K

$900K

$816K

$791K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

120

100%+ 100%+ 100%+

4+bdrms

93%

100

80%

204

3bdrms

226

35%

21%

2bdrms

122

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

5 4 80%

15 14 93%

52 65 125%

69 117 170%

59 66 112%

74 69 93%

79 28 35%

63 13 21%

Copyright©January10,202reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJanuary10,202.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 9 ●

greatervancouverboardarea CONDO-DECEMBER 2021

SALESTO LISTINGSRATIO 61% SELLERS'MARKET

▶ MARKETSUMMARY Therewere2,394condolistingsintheGreater VancouverboardareainDecember,30%below Novemberand46%lowerthanDecember2020. Decembercondosalesdecreasedby20% month-over-month,to1,466,andwere0.7%below December2020. Thesales-to-listingratioforcondosintheGreater Vancouverboardarea,at61%,reflectedaselers'market. ThecondomedianpriceinDecemberwas$680,000,a 1.9%increasefromNovemberand16%aboveDecember 2020. Theaveragesoldpricewas$760,668,2%abovelast month;theaveragePSFsalepricewas$886,up1.5%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 14% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 14% VS2020

▲ 16% VS2020

▼ 46% VS2020

▼ 0.6% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

1,466 2,394

1,476 4,441

14% 14% 16% 84% -0.7% -46%

1,829 3,410

1.5% 2% 1.9% 14% -20% -30%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$886 $760,668 $680,000 61%

$779 $664,505 $586,725 33%

$872 $744,767 $667,500 54%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● DEC 2020 ● DEC 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

4,486

4,397

4,441

4,714 4,780

4,465

4,288

4,210

4,165

4,166

3,410

3,836

2,689

2,048

1,829

1,808

2,394

2,283

1,476

1,786

1,766

1,466

1,678 1,632 1,631

1,189

$680K

$668K

$655K

$650K

$637K

$638K

$645K

$635K

$619K

$598K

$587K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

500

100%+

99%

4+bdrms

85%

400

300

3bdrms

352

51%

42%

200

846

26%

21%

2bdrms

100

1,364

523

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

80 68 85%

353 418 118%

511 508 99%

513 260 51%

250 104 42%

187 49 26%

212 45 21%

288 14 5%

650

Copyright©January10,202reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJanuary10,202.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 10 ●

fraservaleyboardarea DETACHED-DECEMBER 2021

SALESTO LISTINGSRATIO 77% SELLERS'MARKET

▶ MARKETSUMMARY Therewere909detachedlistingsintheFraserValey boardareainDecember,30%belowNovemberand40% lowerthanDecember2020. Decemberdetachedhomesalesdecreasedby14% month-over-month,to696,andwere28%below December2020. Thesales-to-listingratiofordetachedintheFraserValey boardarea,at77%,reflectedaselers'market. ThedetachedmedianpriceinDecemberwas$1,584,000, a1.9%increasefromNovemberand38%above December2020. Theaveragesoldpricewas$1,738,522,3%abovelast monthandup37%toDecember2020.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 37% VS2020

▲ 38% VS2020

▼ 40% VS2020

▼ 28% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

77% 696 909

64% 967 1,515

37% 38% 20% -28% -40%

62% 807 1,306

3% 1.9% 24% -14% -30%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$1,692,032 $1,555,000

$1,738,522 $1,584,000

$1,272,228 $1,145,000

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIANPRICE

2,944

2,584

2,828

2,304

1.89

1.86

1.82

2,185

1,741

1.65

1,597

1.61

1,530

1,843

1.52

1,515

1,321

1,306

1,184

1,520

1,514

1,382

841

807

967

778

909

959

850

743

744

696

$1.58M

$1.56M

$1.45M

$1.41M

$1.36M

$1.34M

$1.33M $1.28M

$1.33M

$1.31M

$1.29M

$1.22M

$1.15M

Dec-20

Nov-21

Dec-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

300

100%+ 100%+ 100%+ 100%+ 100%+

250

200

50%

150

33%

100

23%

13%

<$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-LRATIO SALES INVENTORY

46 15 33%

3 7 233%

12 17 142%

39 60 154%

104 167 161%

179 300 168%

135 68 50%

110 25 23%

281 37 13%

●

fraservaleyboardarea TOWNHOME-DECEMBER 2021

SALESTO LISTINGSRATIO 208% SELLERS'MARKET

▶ MARKETSUMMARY Therewere200townhomelistingsintheFraserValey boardareainDecember,47%belowNovemberand70% lowerthanDecember2020. Decembertownhomesalesdecreasedby5% month-over-month,to416,andwere18%below December2020. Thesales-to-listingratiofortownhomesintheFraser Valeyboardarea,at208%,reflectedaselers'market. ThetownhomemedianpriceinDecemberwas$870,000, a6%increasefromNovemberand41%aboveDecember 2020. Theaveragesoldpricewas$867,662,5%abovelast month;theaveragePSFsalepricewas$573,up7%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 46% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 41% VS2020

▼ 70% VS2020

▼ 18% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 77% 506 659

%Change

No. 438 376

%Change

TOTALLISTINGS TOTALSALES

416 200

171% -18% -70%

7% 5% 6% 79% -5% -47%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$573 $867,662 $870,000 208%

$534 $823,841 $823,500 116%

$393 $616,768 $615,000

46% 41% 41%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● DEC 2020 ● DEC 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

786

775

872

846

710

687

787

759

659

706

552

641

514

509

567

506

438

531

512

479

416

462

448

409

376

200

$870K

$824K

$786K

$765K

$735K

$728K

$725K

$729K

$720K

$705K

$660K

$640K

$615K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

200

100%+ 100%+ 100%+ 100%+ 100%+ 100%

4+bdrms

150

229

3bdrms

114

50%

100

2bdrms

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

4 2 50%

19 27 142%

55 102 185%

87 208 239%

31 65 210%

3 11 367%

1 1 100%

Copyright©January10,202reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJanuary10,202.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 12 ●

fraservaleyboardarea CONDO-DECEMBER 2021

SALESTO LISTINGSRATIO 146% SELLERS'MARKET

▶ MARKETSUMMARY Therewere373condolistingsintheFraserValeyboard areainDecember,43%belowNovemberand70%lower thanDecember2020. Decembercondosalesdecreasedby11% month-over-month,to544,andwere19%above December2020. Thesales-to-listingratioforcondosintheFraserValey boardarea,at146%,reflectedaselers'market. ThecondomedianpriceinDecemberwas$528,750,a 4%increasefromNovemberand31%aboveDecember 2020. Theaveragesoldpricewas$549,812,4%abovelast month;theaveragePSFsalepricewas$657,up7%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 36% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 30% VS2020

▲ 31% VS2020

▼ 70% VS2020

▲ 19% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No. 93% 614 660

%Change

TOTALLISTINGS TOTALSALES

544 373

37% 459 1,256

36% 30% 31% 299% 19% -70%

7% 4% 4% 57% -11% -43%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$657 $549,812 $528,750 146%

$616 $528,701 $510,000

$484 $422,284 $405,000

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● DEC 2020 ● DEC 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

1,307

1,344

1,271

1,256

1,163

1,287

1,192

1,190

905

806

778

937

666

660

779

598

689

544

614

562

555

459

369

373

$529K

$510K

$481K

$473K

$465K

$450K

$446K

$450K

$438K

$430K

$415K

$405K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

350

100%+ 100%+ 100%+

300

4+bdrms

250

67%

200

3bdrms

50%

150

41%

33%

100

341

25%

2bdrms

230

180

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

60 74 123%

162 330 204%

91 117 129%

27 11 41%

18 6 33%

8 2 25%

4 2 50%

3 2 67%

110

Copyright©January10,202reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJanuary10,202.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 13 ●

burnabynorth DETACHED-DECEMBER 2021

SALESTO LISTINGSRATIO 56% SELLERS'MARKET

▶ MARKETSUMMARY Therewere59detachedlistingsinBurnabyNorthin December,26%belowNovemberand26%lowerthan December2020. Decemberdetachedhomesalesincreasedby3% month-over-month,to33,andwere27%below December2020. Thesales-to-listingratiofordetachedinBurnabyNorth, at56%,reflectedaselers'market. ThedetachedmedianpriceinDecemberwas$1,988,888, a3%increasefromNovemberand29%aboveDecember 2020. Theaveragesoldpricewas$2,155,733,0.2%abovelast monthandup32%toDecember2020.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 32% VS2020

▲ 28% VS2020

▼ 26% VS2020

▼ 27% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

33 59

45 80

32% 29% -0.6% -27% -26%

32 80

0.2% 3% 40% 3% -26%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$2,155,733 $1,988,888 56%

$2,150,391 $1,929,000 40%

$1,633,930 $1,545,000 56%

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIANPRICE

154

161

157

2.57

121

100

2.32

105

2.15

67 67

1.24

1.17

1.15

$1.99M

$1.92M

$1.93M

$1.82M

$1.80M $1.80M

$1.80M

$1.81M

$1.78M

$1.70M

$1.68M

$1.55M

$1.50M

Dec-20

Nov-21

Dec-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

100%+

53%

43%

13%

<$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-LRATIO SALES INVENTORY

2 0 n/a

12 17 142%

15 8 53%

14 6 43%

16 2 13%

●

burnabynorth TOWNHOME-DECEMBER 2021

SALESTO LISTINGSRATIO 150% SELLERS'MARKET

▶ MARKETSUMMARY Therewere12townhomelistingsinBurnabyNorthin December,54%belowNovemberand66%lowerthan December2020. Decembertownhomesalesdecreasedby22% month-over-month,to18,andwere28%below December2020. Thesales-to-listingratiofortownhomesinBurnaby North,at150%,reflectedaselers'market. ThetownhomemedianpriceinDecemberwas$856,500, a14%increasefromNovemberand19%aboveDecember 2020. Theaveragesoldpricewas$918,639,18%abovelast month;theaveragePSFsalepricewas$669,down0.7% tolastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 22% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 24% VS2020

▲ 19% VS2020

▼ 66% VS2020

▼ 28% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

18 12

25 35

110% -28% -66%

23 26

-0.7% 18% 14% 70% -22% -54%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$669 $918,639 $856,500 150%

$548 $739,595 $718,000 71%

$673 $778,304 $750,000 88%

22% 24% 19%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● DEC 2020 ● DEC 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

$919K

$896K

$857K

$847K

$818K

$800K

$789K

$775K

$768K

$761K

$750K

$718K

BURNABYNORTH REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

1 1

100%+ 100%+

4+bdrms

3bdrms

50%

2bdrms

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

3 0 n/a

2 8 400%

3 5 167%

0 4 n/a

2 0 n/a

2 1 50%

Copyright©January10,202reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJanuary10,202.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 15 ●

burnabynorth CONDO-DECEMBER 2021

SALESTO LISTINGSRATIO 70% SELLERS'MARKET

▶ MARKETSUMMARY Therewere145condolistingsinBurnabyNorthin December,30%belowNovemberand55%lowerthan December2020. Decembercondosalesdecreasedby19% month-over-month,to101,andwere11%above December2020. Thesales-to-listingratioforcondosinBurnabyNorth,at 70%,reflectedaselers'market. ThecondomedianpriceinDecemberwas$692,500,a 8%increasefromNovemberand11%aboveDecember 2020. Theaveragesoldpricewas$703,755,5%abovelast month;theaveragePSFsalepricewas$842,up5%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 16% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 13% VS2020

▲ 11% VS2020

▼ 55% VS2020

▲ 11% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No. 60% 124 208

%Change

TOTALLISTINGS TOTALSALES

70% 101 145

$729 $625,431 $625,000 28% 91 324

16% 13% 11% 148% 11% -55%

5% 5% 8% 17% -19% -30%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$842 $703,755 $692,500

$802 $668,827 $643,500

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● DEC 2020 ● DEC 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

324

304

302

297

284

323

312

290

273 275

208

200

230

182

132 124

127

145

143

129

13 13

101

$693K

$665K

$650K

$655K

$650K

$644K

$625K

$617K

$613K

$612K

$615K

$598K

$559K

BURNABYNORTH REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

100%+

4+bdrms

72%

67%

3bdrms

52%

36%

2bdrms

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

<2bdrms

S-LRATIO SALES INVENTORY

3 2 67%

47 34 72%

20 35 175%

48 25 52%

14 5 36%

7 0 n/a

5 0 n/a

1 0 n/a

Copyright©January10,202reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJanuary10,202.AldatafromRealEstateBoardofGreater VancouverandFraserValey&Renie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshould takestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Al informationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 16 ●

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