the rennie review: February 2023

vancouverregion DETACHED -JANUARY 2023

SALES TO LISTINGSRATIO 11% BUYERS'M ARKET

▶ MARKETSUMMARY Therewere4,553 detached listingsin theVancouver Region in January,5% below D ecem berand 36% higher than January2022. January detached hom esalesdecreased by m onth-over-m onth,to 515,and were55% below January 2022. Thesales-to-listing ratio fordetached in the Vancouver Region,at11% ,reflected abuyers'm arket. Thedetachedm edian pricein Januarywas$1,450,000,a 3% decreasefrom D ecem berand 21% below January 2022. Theaveragesold pricewas$1,674,444,4% below last m onth and down 21% toJanuary2022.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 21% VS 2022

▼ 21% VS 2022

▲ 36% VS 2022

▼ 55% VS 2022

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

11% 515 4,553

1,143 3,341

-21% -21% -67% -55% 36%

13% 634 4,786

-15% -19% -5%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$2,121,314 $1,845,000 34%

$1,748,955 $1,500,000

-4% -3%

$1,674,444 $1,450,000

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

7,630

7,232

6,847

7,416

6,495

6,997

5,942

1.86

5,512

6,329

1.79

1.79

4,609

4,553

1.50

4,786

1.38

1.33

3,341

2,312

1,084

906

1,747

888

803

1,143

1,562

634

1,281

515

873

857

$1.85M $1.89M $1.83M $1.80M

$1.73M $1.65M

$1.60M $1.53M $1.52M $1.54M $1.50M $1.50M $1.45M

Jan-22

Dec-22

Jan-23

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

1400

1200

1000

800

600

33%

31%

29%

400

23%

18%

13%

200

9%

3%

3%

0

<$600K

$600-799K

$800-999K

$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M

$2.0M -2.49M

$2.5M -2.99M

$3M+ 1,311 42 3%

S-L RATIO SALES INVENTORY

117 27 23%

57 19 33%

157 45 29%

293 91 31%

526 93 18%

984 129 13%

574 52 9%

534 17 3%

Copyright© February6,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofFebruary6,2023.Aldatafrom RealEstate BoardofGreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycan otbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.The recipientoftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.

5

Made with FlippingBook - professional solution for displaying marketing and sales documents online