the rennie review: February 2023

greatervancouverboard area DETACHED -JANUARY 2023

SALES TO LISTINGSRATIO 11% BUYERS'M ARKET

▶ MARKETSUMMARY Therew ere 2,801 detached listingsin the G reater Vancouverboard areain January,4% below D ecem ber and 23% higherthan January2022. January detached hom esalesdecreased by m onth-over-m onth,to 302,and were52% below January 2022. Thesales-to-listing ratio fordetached in the G reater Vancouverboard area,at11% ,reflected abuyers'm arket. Thedetachedm edian pricein Januarywas$1,590,000,a 7% decreasefrom D ecem berand 19% below January 2022. Theaveragesold pricewas$1,909,101,4% below last m onth and down 17% toJanuary2022.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 17% VS 2022

▼ 19% VS 2022

▲ 23% VS 2022

▼ 52% VS 2022

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

11% 302 2,801

27% 623 2,280

-17% -19% -61% -52% 23%

13% 374 2,928

-16% -19% -4%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$1,997,416 $1,702,500

-4% -7%

$1,909,101 $1,590,000

$2,297,677 $1,975,000

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

4,499

4,268

4,148

3,954

4,375

4,187

3,598

1.80

3,279

3,741

1.72

1.68

2,816

1.55

2,801

2,928

1.47

1.38

2,280

1,299

1,008

579

490

958

623

374

796

657

302

530

532

524

$1.98M $2.01M $2.00M $1.99M

$1.90M $1.80M $1.74M

$1.70M $1.68M $1.72M $1.69M $1.70M $1.59M

Jan-22

Dec-22

Jan-23

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

1000

800

600

42%

400

37%

31%

21%

19%

200

14%

11%

4%

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+ 1,038 35 3%

S-L RATIO SALES INVENTORY

42 8 19%

27 10 37%

62 19 31%

113 47 42%

228 47 21%

578 83 14%

358 38 11%

355 15 4%

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