the rennie advance - September 2021
Sep 02, 2021
Written byRyan Berlin
It was an atypically busy month for sales activity by August standards, which helped push inventory down to a record low for the month. As a result market conditions continue to favour sellers.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.
Home sales may have increased across the Central Okanagan in February, but only relative to January’s low total. When compared to previous Februarys' counts, last month’s tally was the lowest since 2013. Meanwhile, supply is expanding at an accelerating rate.
Home sales in Greater Victoria are growing steadily to start the year, but they remain below historical levels and are struggling to expand at the rate of inventory.