Vancouver Real Estate Average Price Graph
October 14th, 2009 Categories: Real Estate
The average price of Greater Vancouver houses dropped slightly in September, compared to August. Townhome and Condo prices were up slightly. Prices have been rising since March. The graph shows the houses on the top, townhomes (middle) and condos (bottom) average price from 1977 to present. The Vancouver market peaked in 1981, 1990, 1995 and 2008. Vancouver condos didn’t appreciate much between 1990 and 2002 but they did between 2002 and 2008. The above graph shows prices have recovered remarkably well and are not much below the peak of 2008. Listings and sales for Greater Vancouver increased in September compared to August.
Following are the stats for Vancouver West Side
Listings – in Sept there were a total of 1244 new listings vs 991 in August. In Sept 2008 there were 1391 new listings. Total new listings for Jan-Aug 2009 were 9,078 Same period for 2008 were 11,465
Sales - in September there were a total of 733 west side sales, down from 795. In Sept 2008 there were 308. Year to date sales 6,016 . Same period last year 4,396
1 Year change in Benchmark Price for condos - up 3.4% . Townhomes are up 2.2% and houses are up 10%.
Benchmark Price for condos over the last 5 years - condos are up 57%, townhomes are up 55% and houses are up 79%
September Median Price - House $1,510,000, Townhouse $750,000, Condo $447,000
August Median Price – House $1,523,000, Townhouse $675,000, Condo $438,000
Vancouver Reflections: vancouver west side market is levelling off, number of sales in September were down from August but prices still strong. It takes more showings to sell a property. This may be a good thing after the busy spring and upswing in prices.
When you’re ready to buy or sell Vancouver real estate, contact Maggie, an experienced agent marketing Vancouver real estate since 1981.
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