the rennie review - May 2021

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

published May 2021

table of contents

02 INTRO

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.

03 WHAT YOU NEED TO KNOW

04 FEATURED LISTINGS

NEIGHBOURHOOD PROFILES

05 08 11 14 17 20 23 26 29 32 35 38 41 44

Vancouver Region

Greater Vancouver Board Area Fraser Valley Board Area

Burnaby North Burnaby South

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

Bowen Behan Pausey BUSINESS DATA ANALYST bbehan@rennie.com

Coquitlam

Langley

North Vancouver

Richmond Squamish

Surrey

Vancouver East Vancouver West West Vancouver

49 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 May 7, 2021. 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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

supply pales in the face of record sales

Outlier demand-side activity in the Vancouver Region’s housing market is making it challenging to separate fact from fiction. To us, it seems clear that supply remains constrained against the backdrop of another record month for sales—for now.

blowing harder than expected headwinds (rising interest rates and buyer fatigue). Much ado has also been made about rising supply. Is the market being flooded with listings? The answer is: not really. Resale inventory was certainly higher in April than in March, by 1,652 listings (12%); additionally, April’s inventory was 2% higher than it was in April 2020. Notably, however, the year-over-year increase is solely attributable to rising detached listings, with townhome and condo listings lower by 16% and 0.8%, respectively, compared to one year ago. Most importantly, inventory is currently 21% lower than the past-decade April average, suggesting that, in the bigger picture, supply remains constrained in the Vancouver Region. The next few months will be fascinating to monitor. Will demand slow down as the vaccine is more widely deployed and instead of going to open houses more of us are opening our houses to family and friends? Will the economy continue to recover and, if so, how will listings respond? Rest assured we will be following the data closely.

Just as smooth seas do not a skilled sailor make, the same can mostly be said for stable markets’ ability to create savvy analysts. This is not to say that one cannot generate robust, thoughtful, and meaningful insights during non-turbulent times—indeed, it is probably the safest and most reasonable time to produce forecasts, for example— but it is when markets are undergoing unprecedented or unexpected changes that separating the noise from the signal is often most challenging. Take our current housing market here in the Vancouver Region. Depending on who you ask, the market is either as active as it’s ever been, or it’s already slowing. Even more curious is that each of these perspectives can be rooted in the same set of data points! As a tangible example of this, consider the 7,795 MLS sales that were tallied in the

Vancouver Region in April 2021. Factually, this represented a 1,097-sale decrease from the previous month, equivalent to a 12% decline in sales activity. Chalk one up for the “slow-downers”. The counterpoint to this perspective is that in April, our region was coming off the heels of the all-time record high in sales in any month ever in March; for there not to have been a month-over-month reduction in sales we would have had to have set another all-time record for sales in April. In any event, April 2021’s sales count was in fact the most in any April in the region’s history (squeaking by April 2016’s 7,624 sales). Depending on how narrowly one chooses to interpret the sales data, the evidence on the direction of the market can appear mixed. To us, it seems evident that demand remains robust in a historical context, with future tailwinds (migration, job growth, and low interest rates)

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House

Tapestry

Townhome

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Calvin Kan PREC* 604.616.8373

Alice Ristak PREC* 604.809.7218

Bentley

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Townhome

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$899,900 | COQUITLAM 13-1219 Burke Mountain Street 4 Bed, 1,617 SF

Art Seroff PREC* 778.223.0033

Daniel O’Hearn 778.384.2665

Sheliza Vellani 604.710.3681

Townhome

Crane

Seasons

$799,900 | NEW WEST

The River Dance $529,000 | VAN EAST 708-2733 Chandlery Place 2 Bed, 832 SF Eric Zamora PREC* 778.389.4556 $729,000 | DOWNTOWN 106-546 Beatty Street 1 Bed, 730 SF Janette Fricker PREC* 604.787.2862

$609,000 | BURNABY 211-5460 Broadway 1 Bed, 700 SF Angel Cheung PREC* 604.719.7196 Strathcona Village $459,000 | VAN EAST 564-955 E Hastings Street 1 Bed, 456 SF

3-1130 Ewen Avenue 3 Bed, 1,453 SF Danny Chow PREC* 604.765.2469

Wall Centre $585,000 | VAN EAST 2304-5515 Boundary Road 1 Bed, 581 SF Candace Cheung 604.649.4328

Ross Leathley 604.802.5468

Copyright © 2021 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 May 7, 2021. 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-APRIL 2021

SALESTO LISTINGSRATIO 42% SELLER'SMARKET

▶ MARKETSUMMARY Therewere7,333detachedlistingsintheVancouver RegioninApril,23%aboveMarchand16%higherthan April2020. Aprildetachedhomesalesdecreasedby13% month-over-month,to3,044,andwere344%aboveApril 2020. Thesales-to-listingratiofordetachedintheVancouver Region,at42%,reflectedaseler'smarket.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 27% VS2020

▲ 32% VS2020

▲ 16% VS2020

▲ 344% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

3,044 7,333

11% 685 6,324

283% 344% 16%

3,509 5,968

1% 1.4% -29% -13% 23%

ThedetachedmedianpriceinAprilwas$1,500,000,a 1.4%increasefromMarchand32%aboveApril2020.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$1,757,507 $1,500,000 42%

$1,739,811 $1,480,000 59%

Theaveragesoldpricewas$1,757,507,1.0%abovelast monthandup27%toApril2020.

$1,380,209 $1,136,000

27% 32%

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIANPRICE

7,281

7,015

7,333

7,599 7,599

7,383

5,980

5,968

6,324 6,622

1.91

1.90

1.80

4,502

3,509

4,379

4,282

3,044

1.34

1.33

2,338 2,420

2,10

1,998

1.21

1,600

2,421

2,18

2,074

1,490

685

885

$1.50M

$1.48M $1.41M

$1.35M

$1.30M

$1.27M

$1.25M

$1.24M

$1.18M

$1.17M

$1.15M

$1.14M

Apr-20

Mar-21

Apr-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

1500

74%

62%

1000

58%

57%

50%

40%

37%

500

22%

15%

<$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+ 1,599 233 15%

S-LRATIO SALES INVENTORY

95 38 40%

101 63 62%

378 219 58%

668 497 74%

1,190 678 57%

1,676 830 50%

848 311 37%

778 175 22%

Copyright©May1,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofMay1,2021.AldatafromRealEstateBoardof GreaterVancouverandFraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipient oftheinformationshouldtakestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained fromarenieandasociatesadvisor.Alinformationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromrenniegroupofcompanies.E.&O.E.

●

vancouverregion TOWNHOME-APRIL 2021

SALESTO LISTINGSRATIO 80% SELLER'SMARKET

▶ MARKETSUMMARY Therewere2,020townhomelistingsintheVancouver RegioninApril,17%aboveMarchand11%lowerthan April2020. Apriltownhomesalesdecreasedby4% month-over-month,to1,609,andwere306%aboveApril 2020. Thesales-to-listingratiofortownhomesintheVancouver Region,at80%,reflectedaseler'smarket. ThetownhomemedianpriceinAprilwas$785,000,a 0.6%increasefromMarchand25%aboveApril2020. Theaveragesoldpricewas$867,585,1.0%abovelast month;theaveragePSFsalepricewas$583,up2%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 25% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 24% VS2020

▲ 25% VS2020

▼ 11% VS2020

▲ 306% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

1,609 2,020

17% 396 2,265

356% 306% -11%

1,682 1,723

0.6% -18% -4% 17%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$583 $867,585 $785,000 80%

$571 $859,301 $780,000 98%

$468 $700,894 $630,450

25% 24% 25%

2% 1%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● APR 2020 ● APR 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

2,788

2,619

2,956

2,925

2,862

2,260

2,265

2,406

2,020

1,723

1,682

1,641

1,586

1,485

1,609

1,291

1,196

1,099

1,407

1,013

863

1,071

1,060

836

396

492

$785K

$780K

$720K

$688K

$675K

$671K

$665K

$660K

$656K

$650K

$646K

$633K

$630K

VANCOUVERREGION REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

800

700

299

100%+

4+bdrms

91%

395

600

85%

74%

500

71%

903

3bdrms

400

1,102

41%

300

33%

376

200

2bdrms

17%

489

100

34 31

<$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

27 11 41%

252 178 71%

732 663 91%

460 392 85%

198 200 101%

145 108 74%

135 45 33%

71 12 17%

Copyright©May1,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofMay1,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 6 ●

vancouverregion CONDO-APRIL 2021

SALESTO LISTINGSRATIO 51% SELLER'SMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 8% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 12% VS2020

▲ 13% VS2020

▲ 7% VS2020

▲ 355% VS2020

Therewere5,830condolistingsintheVancouverRegion inApril,9%aboveMarchand7%higherthanApril2020.

Aprilcondosalesdecreasedby15%month-over-month, to2,988,andwere355%aboveApril2020.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

Thesales-to-listingratioforcondosintheVancouver Region,at51%,reflectedaseler'smarket.

TOTALLISTINGS TOTALSALES

2,988 5,830

12% 656 5,471

327% 355% 7%

3,510 5,354

2% 1.9% 0.5% -22% -15% 9%

ThecondomedianpriceinAprilwas$588,000,a0.5% increasefromMarchand13%aboveApril2020. Theaveragesoldpricewas$669,601,1.9%abovelast month;theaveragePSFsalepricewas$773,up2.0%to lastmonth.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$773 $669,601 $588,000 51%

$758 $657,214 $585,100 66%

$715 $599,671 $519,950

8% 12% 13%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● APR 2020 ● APR 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

7,474

7,335

8,297

8,024

8,002

6,866

5,595

5,830

5,471

5,935

5,697

5,400

3,510 5,354

2,988

2,081

2,066

1,936

1,829

1,507

2,436

1,797

1,755

1,560

656

840

$588K

$585K

$550K

$539K

$540K

$542K

$531K

$532K

$530K

$520K

$515K

VANCOUVERREGION REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

36 3

4+bdrms

1500

66%

169

59%

57%

3bdrms

1000

671

41% 42%

29%

1,727

500

2bdrms

3,325

14% 13%

1,089

<$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

640 380 59%

1,798 1,186 66%

1,423 808 57%

780 320 41%

318 133 42%

279 81 29%

274 38 14%

318 42 13%

1,798

Copyright©May1,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofMay1,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 7 ●

greatervancouverboardarea DETACHED-APRIL 2021

SALESTO LISTINGSRATIO 38% SELLER'SMARKET

▶ MARKETSUMMARY Therewere4,390detachedlistingsintheGreater VancouverboardareainApril,20%aboveMarchand 14%higherthanApril2020. Aprildetachedhomesalesdecreasedby16% month-over-month,to1,654,andwere325%aboveApril 2020. Thesales-to-listingratiofordetachedintheGreater Vancouverboardarea,at38%,reflectedaseler'smarket.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 23% VS2020

▲ 26% VS2020

▲ 14% VS2020

▲ 325% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

1,654 4,390

10% 389 3,848

273% 325% 14%

1,960 3,664

0.9% 3% -30% -16% 20%

ThedetachedmedianpriceinAprilwas$1,700,000,a3% increasefromMarchand26%aboveApril2020.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$1,975,432 $1,700,000 38%

$1,958,053 $1,650,000 53%

Theaveragesoldpricewas$1,975,432,0.9%abovelast monthandup23%toApril2020.

$1,607,134 $1,351,000

23% 26%

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIANPRICE

4,390

4,313

4,237

4,580

4,540

4,397

3,742

3,664

3,848 3,939

1.87

1.83

1.77

2,905

2,864

2,762

1,960

1.43

1.42

1.32

1,654

1,343

1,308

1,19

1,020

862

1,223

1,098

1,064

739

389

539

$1.70M

$1.65M $1.60M

$1.52M

$1.50M

$1.49M

$1.44M

$1.38M

$1.35M

$1.37M

$1.35M

Apr-20

Mar-21

Apr-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

1200

1000

80%

74%

800

63%

53%

51%

600

39%

32%

400

24%

14%

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+ 1,245 179 14%

S-LRATIO SALES INVENTORY

34 11 32%

50 37 74%

130 82 63%

209 167 80%

539 286 53%

1,038 525 51%

590 232 39%

555 135 24%

●

greatervancouverboardarea TOWNHOME-APRIL 2021

SALESTO LISTINGSRATIO 74% SELLER'SMARKET

▶ MARKETSUMMARY Therewere1,148townhomelistingsintheGreater VancouverboardareainApril,6%aboveMarchand11% lowerthanApril2020. Apriltownhomesalesdecreasedby6% month-over-month,to847,andwere332%aboveApril 2020. Thesales-to-listingratiofortownhomesintheGreater Vancouverboardarea,at74%,reflectedaseler'smarket. ThetownhomemedianpriceinAprilwas$910,000,a 1.0%increasefromMarchand19%aboveApril2020. Theaveragesoldpricewas$983,696,0.0%belowlast month;theaveragePSFsalepricewas$685,down1.5% tolastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 20% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 20% VS2020

▲ 19% VS2020

▼ 11% VS2020

▲ 332% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

74% 847 1,148

15% 196 1,297

388% 332% -11%

83% 901 1,082

1.5% 0% 1% -11% -6% 6%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$685 $983,696 $910,000

$675 $983,721 $901,200

$569 $816,898 $762,500

20% 20% 19%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● APR 2020 ● APR 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

1,562

1,658 1,645

1,612

1,258

1,440

1,297

1,355

1,082

1,148

954

847

927

901

678

636

539

506

412

616

542

536

372

196

266

$910K

$900K

$901K

$815K

$816K

$790K

$789K

$790K

$791K

$780K

$785K

$780K

$763K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

300

131

250

4+bdrms

92%

88%

173

84%

78%

200

69%

486

3bdrms

150

622

100

33%

200

2bdrms

17%

323

30 30

<$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

6 2 33%

82 64 78%

256 226 88%

280 236 84%

180 166 92%

141 97 69%

133 44 33%

70 12 17%

Copyright©May1,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofMay1,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 9 ●

greatervancouverboardarea CONDO-APRIL 2021

SALESTO LISTINGSRATIO 51% SELLER'SMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 6% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 10% VS2020

▲ 350% VS2020

Therewere4,488condolistingsintheGreater VancouverboardareainApril,8%aboveMarchand10% higherthanApril2020. Aprilcondosalesdecreasedby15%month-over-month, to2,287,andwere350%aboveApril2020.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

Thesales-to-listingratioforcondosintheGreater Vancouverboardarea,at51%,reflectedaseler'smarket.

TOTALLISTINGS TOTALSALES

2,287 4,488

12% 508 4,094

311% 350% 10%

2,691 4,166

2% 1.9% 0.1% -21% -15% 8%

ThecondomedianpriceinAprilwas$637,000,a0.1% increasefromMarchand10%aboveApril2020. Theaveragesoldpricewas$729,092,1.9%abovelast month;theaveragePSFsalepricewas$842,up2.0%to lastmonth.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$842 $729,092 $637,000 51%

$826 $715,346 $636,250 65%

$791 $660,726 $578,500

6% 10% 10%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● APR 2020 ● APR 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

6,145

5,736

6,429

6,275

5,222

5,691

4,488

4,094

4,456

4,441

4,288

4,210 4,166

2,691

2,287

1,596

1,571

1,476

1,406

1,109

1,767

1,367

1,338

1,189

508

659

$636K

$637K

$619K

$608K

$598K

$590K

$585K

$589K

$588K

$587K

$579K

$578K

REBGV

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

1200

31 3

4+bdrms

1000

71%

800

132

61%

3bdrms

527

600

42% 42%

400

29%

1,265

2bdrms

2,472

13% 13%

200

887

<$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

246 150 61%

1,133 803 71%

1,234 747 61%

733 307 42%

300 125 42%

270 79 29%

261 35 13%

311 41 13%

1,458

Copyright©May1,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofMay1,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 10 ●

fraservaleyboardarea DETACHED-APRIL 2021

SALESTO LISTINGSRATIO 47% SELLER'SMARKET

▶ MARKETSUMMARY Therewere2,943detachedlistingsintheFraserValey boardareainApril,28%aboveMarchand19%higher thanApril2020. Aprildetachedhomesalesdecreasedby10% month-over-month,to1,385,andwere369%aboveApril 2020. Thesales-to-listingratiofordetachedintheFraserValey boardarea,at47%,reflectedaseler'smarket.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 38% VS2020

▲ 39% VS2020

▲ 19% VS2020

▲ 369% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

1,385 2,943

12% 295 2,476

295% 369% 19%

1,536 2,304

2% 0.9% -29% -10% 28%

ThedetachedmedianpriceinAprilwas$1,346,000,a 0.9%increasefromMarchand39%aboveApril2020.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$1,495,860 $1,346,000 47%

$1,460,499 $1,334,500 67%

Theaveragesoldpricewas$1,495,860,2%abovelast monthandup38%toApril2020.

$1,083,517 $970,000

38% 39%

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIANPRICE

2,778

2,943

3,059 3,019

2,986

2,968

2,683

2,304

2,476

1.89

2,238

1.85

1.69

1.61

1,597

1,536

1.55

1,187

1,385

1,520

1,515

1,071

1,049

1,022

983

729

968

744

295

343

$1.35M

$1.33M $1.29M

$1.22M

$1.15M

$1.11M

$1.06M

$1.05M

$1.02M

$1.00M

$975K

$970K

$958K

Apr-20

Mar-21

Apr-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

700

600

500

72%

400

60%

55%

51%

47%

300

44%

31%

200

18%

15%

100

<$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

61 27 44%

51 26 51%

248 137 55%

459 329 72%

651 391 60%

638 303 47%

258 79 31%

223 40 18%

354 53 15%

●

fraservaleyboardarea TOWNHOME-APRIL 2021

SALESTO LISTINGSRATIO 87% SELLER'SMARKET

▶ MARKETSUMMARY Therewere872townhomelistingsintheFraserValey boardareainApril,36%aboveMarchand10%lower thanApril2020. Apriltownhomesalesdecreasedby1.9% month-over-month,to760,andwere280%aboveApril 2020. Thesales-to-listingratiofortownhomesintheFraser Valeyboardarea,at87%,reflectedaseler'smarket. ThetownhomemedianpriceinAprilwas$726,575,a3% increasefromMarchand26%aboveApril2020. Theaveragesoldpricewas$737,933,3%abovelast month;theaveragePSFsalepricewas$470,up4%to lastmonth.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 27% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 26% VS2020

▼ 10% VS2020

▲ 280% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 21% 200 968

%Change

No. 775 641

%Change

TOTALLISTINGS TOTALSALES

87% 760 872

322% 280% -10%

4% 3% 3% -28% -1.9% 36%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$450 $713,841 $705,000 121%

$470 $737,933 $726,575

$369 $587,211 $575,000

27% 26% 26%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● APR 2020 ● APR 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

1,250

1,31

1,226

1,179

1,267

1,002

1,051

968

872

788

775

687

760

659

612

560

506

641

451

533

531

517 558

462

200

226

$727K

$705K

$660K

$640K

$615K

$604K

$608K

$600K

$593K

$580K

$585K

$575K

$571K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

500

168

100%+ 100%+

4+bdrms

92%

400

222

87%

67%

300

415

3bdrms

480

50%

43%

200

176

2bdrms

100

166

4 1

<$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

21 9 43%

170 114 67%

476 436 92%

180 156 87%

18 33 183%

4 11 275%

2 1 50%

1 0 n/a

Copyright©May1,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofMay1,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 12 ●

fraservaleyboardarea CONDO-APRIL 2021

SALESTO LISTINGSRATIO 52% SELLER'SMARKET

▶ MARKETSUMMARY Therewere1,342condolistingsintheFraserValey boardareainApril,13%aboveMarchand3%lowerthan April2020. Aprilcondosalesdecreasedby14%month-over-month, to693,andwere368%aboveApril2020.

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 19% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 21% VS2020

▲ 22% VS2020

▼ 3% VS2020

▲ 368% VS2020

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

Thesales-to-listingratioforcondosintheFraserValey boardarea,at52%,reflectedaseler'smarket.

TOTALLISTINGS TOTALSALES

52% 693 1,342

11% 148 1,377

380% 368% -3%

68% 807 1,188

1.8% 1.6% 3% -24% -14% 13%

ThecondomedianpriceinAprilwas$449,900,a3% increasefromMarchand22%aboveApril2020. Theaveragesoldpricewas$470,833,1.6%abovelast month;theaveragePSFsalepricewas$540,up1.8%to lastmonth.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$540 $470,833 $449,900

$531 $463,266 $438,000

$453 $390,105 $370,000

19% 21% 22%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● APR 2020 ● APR 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

1,783

1,749

1,644

1,868

1,857

1,599

1,307

1,377

1,479

1,342

1,256

1,190

807 1,188

666

693

494

480

459

423

398

426

417

369

148

181

$450K

$438K

$430K

$415K

$400K

$405K

$395K

$398K

$391K

$393K

$387K

$385K

$370K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

700

600

4+bdrms

500

400

58% 57%

3bdrms

144

300

33%

31%

200

459

26%

22%

2bdrms

15% 14%

853

100

197

<$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

394 230 58%

665 381 57%

189 59 31%

47 12 26%

18 6 33%

9 2 22%

13 2 15%

7 1 14%

340

Copyright©May1,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofMay1,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 13 ●

burnabynorth DETACHED-APRIL 2021

SALESTO LISTINGSRATIO 48% SELLER'SMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 27% VS2020

▲ 28% VS2020

▲ 67% VS2020

▲ 443% VS2020

Therewere157detachedlistingsinBurnabyNorthin April,34%aboveMarchand67%higherthanApril2020. Aprildetachedhomesalesincreasedby15% month-over-month,to76,andwere443%aboveApril 2020. Thesales-to-listingratiofordetachedinBurnabyNorth, at48%,reflectedaseler'smarket.

THISMONTH No. $1,877,865 $1,795,000 48% 76 157

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

14 94

225% 443% 67%

$1,894,889 $1,800,000 56% 66 117

15% 34%

ThedetachedmedianpriceinAprilwas$1,795,000,a 0.3%decreasefromMarchand28%aboveApril2020.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

-0.9% -0.3% -14%

$1,480,464 $1,406,250 15%

Theaveragesoldpricewas$1,877,865,0.9%belowlast monthanddown27%toApril2020.

27% 28%

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIANPRICE

157

136

132

128

125

2.35

127

2.24

1.90

67 67

1.38

1.31

1.18

$1.80M $1.80M

$1.80M

$1.60M

$1.57M

$1.56M

$1.55M

$1.53M

$1.50M

$1.49M

$1.41M

$1.37M

Apr-20

Mar-21

Apr-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

100%

70%

61%

34%

22%

14%

<$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

1 0 n/a

1 1 100%

18 11 61%

64 45 70%

32 11 34%

27 6 22%

14 2 14%

●

burnabynorth TOWNHOME-APRIL 2021

SALESTO LISTINGSRATIO 94% SELLER'SMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 28% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 13% VS2020

▲ 8% VS2020

▼ 1.8% VS2020

▲ 1175% VS2020

Therewere54townhomelistingsinBurnabyNorthin April,4%belowMarchand-1.8%lowerthanApril2020. Apriltownhomesalesdecreasedby1.9% month-over-month,to51,andwere1175%aboveApril 2020. Thesales-to-listingratiofortownhomesinBurnaby North,at94%,reflectedaseler'smarket. ThetownhomemedianpriceinAprilwas$800,000,a4% increasefromMarchand8%aboveApril2020. Theaveragesoldpricewas$821,330,4%abovelast month;theaveragePSFsalepricewas$629,up0.4%to lastmonth.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

51 54

$486 $729,500 $739,000 7% 4 55

1,199% 1,175% -1.8%

52 56

0.4% 4% 4% 1.7% -1.9% -4%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$629 $821,330 $800,000 94%

$626 $787,979 $767,500 93%

29% 13% 8%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● APR 2020 ● APR 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

12 13

$818K

$800K

$768K

$761K

$749K

$739K

$725K

$718K

$697K

$683K

$660K

$638K

BURNABYNORTH REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

8 8

100%+

100%

100%+

4+bdrms

73%

3bdrms

25%

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

1 0 n/a

11 8 73%

11 17 155%

19 19 100%

4 6 150%

4 1 25%

4 0 n/a

Copyright©May1,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofMay1,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 15 ●

burnabynorth CONDO-APRIL 2021

SALESTO LISTINGSRATIO 66% SELLER'SMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 15% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 10% VS2020

▲ 15% VS2020

▲ 13% VS2020

▲ 858% VS2020

Therewere275condolistingsinBurnabyNorthinApril, 0.7%aboveMarchand13%higherthanApril2020.

Aprilcondosalesdecreasedby9%month-over-month,to 182,andwere858%aboveApril2020.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 8% 19 243

%Change

No. 74% 201 273

%Change

Thesales-to-listingratioforcondosinBurnabyNorth,at 66%,reflectedaseler'smarket.

TOTALLISTINGS TOTALSALES

66% 182 275

746% 858% 13%

0.1% -4% -6% -10% -9% 0.7%

ThecondomedianpriceinAprilwas$613,000,a6% decreasefromMarchand15%aboveApril2020. Theaveragesoldpricewas$635,244,4%belowlast month;theaveragePSFsalepricewas$788,down0.1% tolastmonth.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$788 $635,244 $613,000

$788 $664,108 $649,000

$688 $577,184 $534,000

15% 10% 15%

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● APR 2020 ● APR 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

379

414

407

400

323

312

343

324

273

275

293

243

201

245

182

102

129

87 91

$649K

$625K

$608K

$613K

$598K

$587K

$590K

$582K

$560K

$559K

$534K

$530K

$525K

BURNABYNORTH REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

100

100%+

4+bdrms

76% 73%

60%

3bdrms

40%

109

25%

2bdrms

14%

188

65 63

<$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

13 17 131%

92 70 76%

90 66 73%

57 23 40%

14 2 14%

5 3 60%

4 1 25%

Copyright©May1,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofMay1,2021.AldatafromRealEstateBoardofGreaterVancouverand FraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakestepsas therecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 16 ●

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