The ‘average’ Greater Vancouver home now costs $917,800
Nick Eagland
The Province
A sold home is pictured in Vancouver, B.C., Thursday, Feb. 11, 2016. The benchmark price for a Greater Vancouver home is now $917,800 ? up 32.1 per cent from a year ago. Photo by JONATHAN HAYWARD
Metro Vancouver’s skyrocketing real-estate prices continue to show little sign of falling back to Earth. The Real Estate Board of Greater Vancouver logged the highest-selling June on record for residential-properties with the benchmark price for a Greater Vancouver home at $917,800 — up 32.1 per cent from a year ago. The REBGV’s data excludes North Delta, Surrey, White Rock and Langley, which are part of the Fraser Valley Real Estate Board:
48.5%
The one-year increase in the benchmark price of a single-family detached home in Richmond (now $1.7 million), the sharpest rise in Greater Vancouver. Across the region, prices of single-family detached homes were up about 38.7 per cent, with a benchmark price of $1.56 million. Tsawwassen’s single-family detached homes also saw a sharp rise over last year at 46.8 per cent, followed by Burnaby North (42.1 per cent), Coquitlam (41.5 per cent) and North Vancouver (41.4 per cent). The smallest increases were in Whistler (23.8 per cent), Sunshine Coast (25.5 per cent) and Bowen Island (25.2 per cent).
4,400
The number of residential properties sold in June, which dropped 7.7 per cent from May but was up 0.6 per cent from June last year. Of these, 1,562 were detached properties, down 18.6 per cent from June a year ago, and 730 were attached homes, up 7.2 per cent. There were 2,108 apartments sold, up 18.8 per cent.
$3.55 million
The benchmark price of a single-family detached home in Vancouver West, the highest in Greater Vancouver and up 36.4 per cent from a year ago. West Vancouver had the second-most expensive single-family detached homes at $3.26 million, while trailing far behind were Richmond ($1.7 million) and North Vancouver ($1.66 million). The least-expensive homes were in Sunshine Coast ($462,200), Maple Ridge ($692,500) and Pitt Meadows ($760,600).
5,875
The number of listings for detached, attached and apartment properties in Greater Vancouver, down 6.6 per cent from May but up 1.2 per cent from a year ago. “Since March, we’ve seen more homes listed for sale in our market than in any other four-month period this decade,” Dan Morrison, president of the REBVG, said in a release.
Maple Ridge
Home of the $190,000 apartment — the lowest average price for a dwelling in Greater Vancouver — up just 10.3 per cent from a year ago. The benchmark price for a Greater Vancouver apartment was $501,000, up 25.3 per cent from June last year, while the highest-priced apartments were in West Vancouver ($846,300). Maple Ridge is also the least-expensive market to find a townhouse ($373,500) while the most expensive townhouses were in Vancouver West ($1.09 million). The average Greater Vancouver townhouse cost $656,900, up 28.1 per cent from a year ago.
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