the rennie review
DATA-DRIVEN INSIGHT INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION
published January 2020
table of contents
02 INTRO
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.
03 WHAT YOU NEED TO KNOW
04 FEATURED LISTINGS
NEIGHBOURHOOD PROFILES
05
Greater Vancouver Board Area
08 Burnaby North 11 Burnaby South 14 Coquitlam 17 Fraser Valley Board Area 20 Langley 23 North Vancouver
Andrew Ramlo VP Intelligence aramlo@rennie.com
Ryan Berlin Senior Economist rberlin@rennie.com
26 Richmond 29 Squamish 32 Surrey
35 Vancouver East 38 Vancouver West 41 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 RealEstateBoardof 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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
a strong finish to 2019 sets the stage for positive start to 2020 Trends in the Vancouver region’s resale market, complemented by solid underlying demographic and economic fundamentals, are pointing to increased sales activity in 2020
market has, overall, returned to its natural equilibrium based on what we saw in 2019. Furthermore, there does remain a significant stock of pent-up demand throughout the region, at least insofar as measured by per capita sales. Despite December’s sales-per- 1,000-residents ratio, at 1.38, sitting 1% above the long-run average for the month, each of the previous 11 months in 2019 registered a deficit, including in March when the per capita sales ratio was 45% below the long-run average for the month. Despite the significant shift in demand conditions over the course of 2019, prices were, interestingly, largely unchanged: the benchmark price of a home declined by 3%, while the average price increased by 2%, over the past 12 months. Based on the momentum built through the latter half of 2019, signs that at least some pent-up demand is poised to be released (as would-be buyers re-enter the market after months on the sidelines), and continued strong labour market conditions combine with near-record population growth, 2020’s resale market has been gifted a headstart over that of 2019. Of course it’s not how you start, but how you finish, that matters--so watch this space as we closely follow what promises to be a fascinating journey for Vancouver’s housing market in 2020.
If it’s true that it’s not how you start but how you finish that really matters, then history will look favourably upon the Vancouver region’s resale market performance in 2019. The year did get off to an inauspicious start, characterized by six consecutive months of year-over-year sales declines, which extended that particular streak to 17 months overall. The cumulative effect of this trend yielded sales 23% lower than during the same period in 2018. Having said this, there were signs that market conditions were improving as the year progressed, with year-over-year sales declines (the so-called “negative sales gap”) shrinking as summer approached. Then, beginning in July and continuing through December, a new trend prevailed, with each month during this period registering sales that were in excess
of the same month one year earlier. Once the ball had dropped on the new year, there were 37% more sales in 2019’s final six months than there were during the same period in 2018. In the end, the number of sales in the Vancouver region in 2019 as a whole was 1.5% higher than in 2018. While not of a great magnitude, this result is perhaps some vindication for a market that continued to demonstrate strong demographic and economic fundamentals despite a protracted period of slow sales activity. Having said all of this, it’s important to acknowledge that 2019’s sales count was 30% below what was achieved in 2017, and 19% below the previous-decade average, so it would be a stretch to conclude that the
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 RealEstateBoardof Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 3
featured listings SEARCH FOR THE HOME YOU LOVE AT RENNIE.COM
House $1,690,000 | BURNABY NORTH
Townhome $1,438,000 | KERRISDALE 7497 Granville St. 3 Bed, 1,471 SF Danny Chow PREC* 604.765.2469
Townhome $1,228,000 | SOUTH VAN
6583 Broadway 8 Bed, 2,630 SF Ashok Soma 604.379.9181
786 W 69th Ave. 4 Bed, 1,545 SF Jane Chu PREC* 778.886.3303
Forty Nine West $1,199,900 | VAN WEST
Concordia 2
Village on False Creek $949,000 | FALSE CREEK
$1,015,900 | YALETOWN
102-6383 Cambie St. 2 Bed, 1,025 SF
3a-139 Drake St. 2 Bed, 1,045 SF Sora Chung 604.809.5162
202-181 W 1st Ave. 2 Bed, 816 SF Charlie Kim PREC* 604.767.1531
Salina Kai PREC* 604.773.7013
Townhome
Living Shangri-La $919,000 | DOWNTOWN
Amazing Brentwood
$939,900 | TSAWWASSEN
$799,000 | BURNABY 4012-4510 Halifax Way 2 Bed, 733 SF
182-1894 Osprey Dr. 4 Bed, 1,642 SF Hanson Lu PREC* 604.787.2578
2703-1111 Alberni St. 1 Bed, 671 SF Danny Chow PREC* 604.765.2469
Vesna Troha 604.306.7040
House
Radius
Village on False Creek
$769,900 | CHILLIWACK
$779,000 | KITSILANO 209-1628 W 4th Ave. 1 Bed, 669 SF Christopher Boyd PREC* 604.351.0533
$749,900 | FALSE CREEK
12-8295 Nixon Rd. 4 Bed, 2,587 SF
60 Athletes Way 1 Bed, 694 SF Danny Chow PREC* 604.765.2469
Clarke Mallory PREC* 604.316.9917
The Safari
Equinox
Westbourne Residences $560,000 | NEW WESTMINSTER
$649,000 | WEST END
$639,000 | DELTA 39-10415 Delsom Cres. 3 Bed, 1,418 SF
505-1050 Chilco St. 1 Bed, 701 SF
208-1306 Fifth Ave. 2 Bed, 825 SF
Mike Ross 778.987.8874
Calvin Kan PREC* 604.616.8373
Jane Chu PREC* 778.886.3303
Brava $549,900 | DOWNTOWN 603 1199 Seymour St. 0 Bed, 440 SF Sam Abadian PREC* 604.290.1690
Coast $549,800 | TSAWWASSEN 414-4690 Hawk Lane Cliff Dr. 2 Bed, 930 SF Nagib Karim PREC* 604.999.5887
Sterling Classic $399,900 | PORT COQUITLAM 106 -2437 Welcher Ave.
1 Bed, 944 SF Bien Matute 604.603.2700
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. 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 - DECEMBER 2019 greater vancouver board area
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
25 % DOWN
0.5 % UP
-
72 % UP
BALANCED 17 %
Detached listings in the REBGV decreased to 3,585 in December, 31% below November and 25% lower vs December 2018. Detached sales, at 604, decreased 27% compared to November but were 72% higher vs December 2018. The sales-to-listings ratio slightly increased to 17%, as the REBGV detached market remained in bal- anced market territory. The detached benchmark price in December was $1.42M, 0.6% higher month-over-month but a 4% decline year-over-year. The average sold price was $1.67M, up 6% from the previous month and 0.5% higher year-over-year.
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
3,585
5,202
-31% -27%
4,811
-25% 72% 130%
TOTAL SALES
604 17%
833 16%
352
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
5%
7%
$1,423,500 $1,415,400 0.6% $1,482,200
-4%
$1,671,805 $1,583,878
6% $1,662,724 0.5%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
(MILLIONS)
$1.48
$1.44
$1.43
$1.42
$1.42
$1.41
$1.41
1.86
1.83
1.83
6,829
6,523
6,330
5,767
5,595
1.19
1.19
1.18
4,811
3,585
945
760
711
604
584
452
352
Dec-18
Nov-19
Dec-19
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES TOTAL INVENTORY S-L RATIO
SELLER'S MARKET
BALANCED
BUYER'S MARKET
. . . 0 0 0 0 0
S-L RATIO SALES INVENTORY
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 RealEstateBoardof 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 - DECEMBER 2019
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 2 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
4 % DOWN
18 % DOWN
0.3 % DOWN
75 % UP
SELLER’S 28 %
The number of townhome listings in the REBGV fell to 1,062 in December, 31% below November and 18% lower year-over-year. Townhome sales in December, at 293, were down 26% vs November but were 75% above last year. The sales-to-listings ratio increased to 28% as the REBGV townhome market remained favourable to sellers. The townhome benchmark price in December was $778,400, 0.7% above November but 2% lower than in December 2018. The average sold price was $846,637, with an aver- age PSF sales price of $577 (2% lower and relatively unchanged, respectively, vs November).
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
1,062
1,544
-31% -26%
1,294
-18% 75% 114%
TOTAL SALES
293 28%
397 26%
167 13%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
7%
$778,400 $772,800 $846,637 $829,139
0.7% $797,400 2% $849,102 -0.2% $601
-2%
-0.3%
$577
$578
-4%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$797,400 $780,600 $775,000 $774,700 $771,900 $771,600 $778,400
2,156
1,994
1,994
1,785
1,539
1,294
1,062
465
345
341
316
293
239
167
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
52
4+ bdrms
BUYER'S MARKET
208
162
3 bdrms
584
79
<3 bdrms
. . . . 0 0 0 0
270
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 January 6, 2020. All data from RealEstateBoardof 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 - DECEMBER 2019
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
1.6 % DOWN
1.0 % DOWN
22 % DOWN
96 % UP
SELLER’S 35 %
The number of condo listings in the REBGV decreased to 3,010 in December, 31% below November and 22% below December 2018. At 1,054, condo sales were 14% lower month-over- month but 96% higher year-over-year. The sales-to-listings ratio increased to 35%, as the REBGV condo market remained in seller’s market territory. The condo benchmark price in December was $656,700, 0.8% above November but down 3% com- pared to December 2018. The average sold price was $667,874 (0.5% below November) with an average PSF sales price of $773 (0.8% lower vs November).
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
3,010 1,054
4,393 1,219
-31% -14% 26%
3,862
-22% 96% 152% -1.6% -1.0% -3%
TOTAL SALES
537 14%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
35%
28%
$656,700 $651,500 $667,874 $671,218
0.8% $675,200 -0.5% $678,796 -0.8% $781
$773
$779
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$675,200 $671,500 $667,500 $654,700 $654,000 $652,500 $656,700
6,222
6,010
5,630
5,057
4,648
3,862
3,010
1,388
1,119
1,054
945
884
759
537
REBGV
FVREB
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
66
3+ bdrms
BUYER'S MARKET
411
579
2 bdrms
1,755
409
<2 bdrms
. . . . 0 0 0 0
844
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 January 6, 2020. All data from RealEstateBoardof 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 - DECEMBER 2019 burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
49 % DOWN
8 % UP
-
64 % UP
26 %
The number of detached listings in Burnaby North in December, at 88, were 42% lower month-over- month and 49% lower year-over-year. With 23 in December, detached sales were down by 4 month-over-month but 9 above last year. The sales-to-listings ratio jumped to 26%, as Burnaby North’s detached market became favour- able to sellers. The benchmark price in December was $1.39M, 0.6% above November 2019 but 4% lower than in December 2018. The average sold price was $1.62M, up 8% from the previous month and 8% above December 2018.
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
SELLER’S
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 152
% Change
No. 171
% Change
TOTAL LISTINGS
88 23
-42% -15% 47%
-49% 64% 219%
TOTAL SALES
27
14 8%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
26%
18%
$1,389,000 $1,380,700 0.6% $1,448,900
-4%
$1,623,435 $1,497,610
8% $1,502,750
8%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
(MILLIONS)
$1.45
$1.40
$1.40
$1.39
$1.39
$1.38
$1.37
2.00
1.92
1.90
239
225
212
187
1.22
1.21
1.17
171
166
88
49
32
30
24
23
19
14
Dec-18
Nov-19
Dec-19
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES TOTAL INVENTORY S-L RATIO
SELLER'S MARKET
BALANCED
BUYER'S MARKET
. . . 0 0 0 0 0 QD QD QD QD
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 January 6, 2020. All data from RealEstateBoardof 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 - DECEMBER 2019 burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
7 % DOWN
3 % DOWN
0.0 %
28 % DOWN
325 % UP
SELLER’S 44 %
The number of townhome listings in Burnaby North decreased 39% from last month, settling at 39, and were 28% below December 2018. Townhome sales, at 17, were up by 3 vs last month and 13 above December 2018. The sales-to-listings ratio jumped to 44% in December, as Burnaby North’s townhome segment remained a seller’s market. The benchmark price in December was $724,200, 0.6% below November and relatively unchanged from December 2018. The average sold price was $711,706 in December, (increasing 6% vs November) while the average PSF sales price was $523 (decreasing 6%).
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
39 17
64 14
-39% 21% 99%
54
-28% 325% 488% 0.0%
TOTAL SALES
4
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
44%
22%
7%
$724,200 $728,500 $711,706 $674,464
-0.6% $724,400 6% $767,250
-7% -3%
$523
$557
-6%
$540
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$724,400 $715,300 $709,200 $725,500 $721,500 $723,900 $724,200
76
75
72
66
56
54
39
22
20
17
16
13
11
4
BURNABY NORTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
4+ bdrms
BUYER'S MARKET
3
11
3 bdrms
24
6
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD
12
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 January 6, 2020. All data from RealEstateBoardof 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 - DECEMBER 2019 burnaby north
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 3 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
5 % UP
14 % UP
36 % DOWN
103 % UP
SELLER’S 47 %
There were 133 condo listings in Burnaby North in December, 38% below November and 36% lower vs December 2018. December condo sales decreased by 27% month- over-month but rose 103% year-over-year. The sales-to-listings ratio for condos in Burnaby North increased to 47%, remaining a seller’s market. The condo benchmark price in December was $598,500, relatively unchanged from November and 3% lower than in December 2018. The average sold price was $610,631, up 1.4% from last month; the average PSF sales price was $728, up 3% from last month.
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 215
% Change
No. 208
% Change
TOTAL LISTINGS
133
-38% -27% 18%
-36% 103% 218%
TOTAL SALES
63
86
31
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
47%
40%
15%
$598,500 $595,900 $610,631 $601,985
0.4% $619,100 1.4% $579,629
-3%
5%
$728
$704
3%
$641
14%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$619,100 $599,900 $611,800 $607,800 $601,700 $590,300 $598,500
331
316
310
280
229
208
133
92
74
63
54
54
40
31
BURNABY NORTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
3+ bdrms
BUYER'S MARKET
18
46
2 bdrms
85
17
<2 bdrms
. . . . 0 0 0 0 QD QD QD QD
30
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 January 6, 2020. All data from RealEstateBoardof 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 - DECEMBER 2019 burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 5 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
34 % DOWN
15 % DOWN
-
163 % UP
BALANCED 18 %
There were 116 detached listings in the Burnaby South market area in December, 33% below last month and 34% lower vs December 2018. Detached sales fell by 19, to 21, between November and December, and were 13 higher year-over-year. The sales-to-listings ratio decreased to 18%, as Burnaby South’s detached segment transitioned to balanced market territory. The benchmark price in December was $1.49M, 0.6% above the previous month but a 5% decline vs last year. The average sold price for detached homes was $1.76M, 10% higher month-over-month but 15% below December of last year.
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 174
% Change
No. 177
% Change
TOTAL LISTINGS
116
-33% -48% -21%
-34% 163% 301%
TOTAL SALES
21
40
8
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
18%
23%
5%
$1,494,500 $1,486,200 0.6% $1,569,800
-5%
$1,757,965 $1,603,045
10% $2,075,000 -15%
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
(MILLIONS)
$1.57
$1.54
$1.53
$1.50
$1.49
$1.47
$1.47
1.99
1.96
1.93
242
225
222
206
192
1.19
1.17
1.15
177
116
30
26
23
21
19
8
7
Dec-18
Nov-19
Dec-19
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES TOTAL INVENTORY S-L RATIO
SELLER'S MARKET
BALANCED
BUYER'S MARKET
. . . 0 0 0 0 0 QD QD QD QD
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 January 6, 2020. All data from RealEstateBoardof 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 - DECEMBER 2019 burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
16 % DOWN
27 % DOWN
1.1 % DOWN
367 % UP
SELLER’S 32 %
Townhome listings in the Burnaby South market area in December (at 44) were down 34% from last month and 27% below last year. The 14 townhome sales were unchanged from November but 11 above December 2018. The sales-to-listings ratio jumped to 32%, as Burnaby South’s townhome segment remained a seller’s market. The benchmark price in December was $762,600, 0.9% below November and 4% lower year-over-year. The average sold price was $844,554 (up 8% from November) with an average PSF sales price of $575 (up 9% vs November).
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
44 14
67 14
-34% 0.0% 52%
60
-27% 367% 536% -1.1% -16% -4%
TOTAL SALES
3
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
32%
21%
5%
$762,600 $769,600 $844,554 $779,836
-0.9% $790,800 8% $853,667
$575
$529
9%
$688
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$790,800 $807,300 $768,100 $762,600 $767,000 $776,600 $762,600
113
104
99
84
82
60
44
23
18
18
14
12
7
3
BURNABY SOUTH REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
3
4+ bdrms
BUYER'S MARKET
4
5
3 bdrms
27
6
<3 bdrms
. . . . 0 0 0 0 QD QD QD
13
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 January 6, 2020. All data from RealEstateBoardof 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 - DECEMBER 2019 burnaby south
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 5 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
32 % DOWN
2 % DOWN
1.2 % UP
132 % UP
SELLER’S 41 %
The number of condo listings in Burnaby South, at 215, decreased 35% month-over-month and fell 32% vs last year. December’s condo sales, at 88, were 20% below last month but 132% higher than last year. The sales-to-listings ratio increased to 41% in December, as Burnaby South’s condo segment remained in seller’s market territory. The condo benchmark price in December was $652,000, 0.7% above November but a 5% decrease from December 2018. The average sold price was $637,846 with an aver- age PSF sales price of $745 (up 1.4% and down 0.7% vs November, respectively).
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 330 110 33%
% Change
No. 315
% Change
TOTAL LISTINGS
215
-35% -20% 23%
-32% 132% 239%
TOTAL SALES
88
38
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
41%
12%
$652,000 $647,300 $637,846 $628,843
0.7% $685,700 1.4% $650,696 -0.7% $736
-5% -2%
$745
$750
1.2%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$685,700 $689,400 $679,200 $666,200 $648,500 $645,300 $652,000
457
433
437
389
367
315
215
97
88
77
70
64
58
38
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
12
3+ bdrms
BUYER'S MARKET
28
53
2 bdrms
139
23
<2 bdrms
. . . . 0 0 0 0 QD QD QD
48
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 January 6, 2020. All data from RealEstateBoardof 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 - DECEMBER 2019
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 4 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
12 % UP
-
32 % DOWN
82 % UP
BALANCED 19 %
The number of detached listings in Coquitlam fell to 262 in December, 35% below November and 32% lower year-over-year. The 51 detached sales in December represented a decrease of 43% from November but an 82% jump vs December of last year. Coquitlam’s sales-to-listings ratio decreased to 19% as the detached segment transitioned to balanced market territory. The benchmark price in December was $1.16M, 0.8% above November but a 4% decrease year-over-year. The average sold price was $1.53M in December, up 24% vs November and 12% above December 2018.
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 400
% Change
No. 386
% Change
TOTAL LISTINGS
262
-35% -43% -13%
-32% 82% 168%
TOTAL SALES
51
89
28 7%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
19%
22%
$1,164,300 $1,154,800 0.8% $1,214,300
-4% 12%
$1,532,355 $1,236,003
24% $1,364,096
-
-
-
-
-
RATIO OF BENCHMARK PRICES ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
(MILLIONS)
$1.21
$1.18
$1.17
$1.16
$1.16
$1.16
$1.15
1.82
1.79
1.76
586
532
532
470
447
1.29
1.26
1.24
386
262
97
80
78
65
51
39
28
Dec-18
Nov-19
Dec-19
TOTAL LISTINGS & SALES BY PRICE RANGE ›
SALES TOTAL INVENTORY S-L RATIO
. . . 0 0 0 0 0 QD QD S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET
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 RealEstateBoardof 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 - DECEMBER 2019
AVERAGE PRICE
AVERAGE PSF PRICE 3 % UP
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
SELLER’S 54 %
14 % UP
0.7 % DOWN
31 % DOWN
100 % UP
There were 59 townhome listings in Coquitlam in December 2019, 39% below November and 31% lower vs December 2018. The 32 townhome sales in December were down by 1 vs November 2019 but 16 above December 2018. The sales-to-listings ratio rose to 54% as Coquitlam’s townhome market remained in seller’s market territory. The townhome benchmark price in December was $663,000, 3% above November but 0.7% lower vs December 2018. The average sold price was $802,662, with an aver- age PSF sales price of $483 (7% and 0.6% higher, respectively, vs November).
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No.
% Change
No.
% Change
TOTAL LISTINGS
59 32
96 33
-39% -3% 58%
86 16
-31% 100% 192% -0.7%
TOTAL SALES
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
54%
34%
19%
$663,000 $644,200 $802,662 $747,182
3% $667,900 7% $702,319
14%
$483
$480
0.6%
$468
3%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$667,900 $656,200 $662,500 $657,300 $651,800 $648,600 $663,000
164
144
143
106
96
86
59
49
34
29
28
25
16
32
COQUITLAM REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
13
4+ bdrms
BUYER'S MARKET
23
14
3 bdrms
28
5
<3 bdrms
. . . . 0 0 0 0 QD QD QD QD
8
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 January 6, 2020. All data from RealEstateBoardof 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 - DECEMBER 2019
AVERAGE PRICE
AVERAGE PSF PRICE 3 % UP
BENCHMARK PRICE 1.8 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
SELLER’S 66 %
12 % UP
42 % DOWN
142 % UP
The 157 condo listings in Coquitlam in December were down 43% from November and 42% lower vs December 2018. Year-over-year condo sales rose by 142% in December (to 104) and were 35% above November. The sales-to-listings ratio increased to 66%, as Coquitlam’s condo market remained in seller’s market territory. The condo benchmark price in December was $528,100, 1.9% above November and a 1.8% increase vs December 2018. The average sold price was $562,437 in December (up 4% vs November) while the average PSF sales price was $659 (relatively unchanged vs November).
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 275
% Change
No. 271
% Change
TOTAL LISTINGS
157 104 66%
-43% 35% 137%
-42% 142% 317% 1.8%
TOTAL SALES
77
43
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
28%
16%
$528,100 $518,200 $562,437 $539,184
1.9% $519,000 4% $504,382 -0.3% $641
12%
$659
$661
3%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$519,000 $523,300 $511,500 $514,600 $524,300 $517,000 $528,100
413
399
384
330
279
271
157
103
82
64
64
61
43
104
COQUITLAM REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
7
3+ bdrms
BUYER'S MARKET
15
63
2 bdrms
98
34
<2 bdrms
. . . . 0 0 0 0 QD QD
44
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 January 6, 2020. All data from RealEstateBoardof 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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