Of course the broad numbers never tell the full story as the Greater Vancouver housing market is made up of many diverse individual markets. To demonstrate that point, a look at some notable regional prices.
- The typical price of a single-family home on Vancouver’s East Side jumped 12% year-over-year in November to $957,300
- Detached home values shot up on the West Side of the city too. The benchmark price went from $2,095,500 in November 2013 to $2,323,300 last month, an 11% increase
- After falling sharply a number of years ago, the Whistler condo market continues to recover with the benchmark price climbing 26.5% year-over-year in November to $240,900 (but this is still down -29.6% from where prices were five years ago during the buildup to the Olympics)
- The benchmark price for all property types in West Vancouver ended November at $1,671,100, the highest of any market in the region. (On the West Side of Vancouver proper the benchmark price for all property types is $867,900.)
- The typical price of a condo in Port Coquitlam is only $229,900, it’s one of the region’s most affordable markets