the rennie advance - January 2021

The housing market in the Vancouver Region ended the year with a flurry of buying activity, with the December sales count surpassing the 5,000 mark for the first time ever. Conditions that continue to favour sellers are expected to stretch into 2021.

The latest rennie advance provides a summary of sales, listings, and pricing trends in the Vancouver region, compiled and released by our rennie intelligence team ahead of the Real Estate Board of Greater Vancouver Stats. 

Our rennie intelligence team comprises our in-house demographer, senior economist, and market analysts. Together, they empower individuals, organizations, and institutions with data-driven market insight and analysis. Experts in urban land economics, community planning, shifting demographics, and real estate trends, their strategic research supports a comprehensive advisory service offering and forms the basis of frequent reports and public presentations. Their thoughtful and objective approach truly embodies the core values of rennie. 

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intelligence

In March, total MLS sales rose by 50% from February, which was a much larger jump than the typical 28% increase. Last month’s total of 4,022 sales, however, was 25% below the past 10-year March average. Inventory, on the other hand, only increased by 3% from the previous month and ended March 25% b…

Sarah Panther
RENNIE ADVISOR
intelligence

Benchmark prices increased in the Vancouver Region for the second consecutive month, even as borrowing costs remain elevated. The enduring sellers’ market reflects increasing sales counts against a backdrop of stagnant inventory.

Sarah Panther
RENNIE ADVISOR
intelligence

The uptick in home-buying activity that was seen in March continued through April, making it two consecutive months of more than 4,000 MLS sales in the Vancouver Region. And thanks in part to inventory only marginally growing in April, conditions once again favoured sellers, thereby continuing to p…

Sarah Panther
RENNIE ADVISOR