A History of Vancouver Real Estate Prices

In April 2006 the benchmark price of  a detached home in Greater Vancouver reached $610,382, an increase of 21% over 2005 and an increase of 55.5% since 2004 and an increase of 79.5% since 2001. For Vanouver home buyers this isnt good news but for those who got their foot in the door a few years prior and have built home equity, then trading up is possible. 

Back at the beginning of 2006 one could buy a condo in Burnaby, Coquitlam, Ladner, Maple Ridge, North Vancouver, New West, Pitt Meadows, Port Moody, Richmond, Tsawwassen and East Vancouver for less than $210,000! For the West Side the most affordable condo was $214,900 which required an annual household income of $47,222, based on 5.5% mortgage rate and 10% down.

Real estate buyers could purchase a house back in 2006 for less than $300,000 in Coquitlam, Ladner, Maple Ridge and Port Coquitlam if you had the require annual income of $65,922. If buyers raised the bar to $350,000 they could buy a house in East Vancouver, New West and Pitt Meadows.

History of Vancouver's Real Estate Average Sale Price 

January 2006 - $515,000

January 2007 - $611,000

January 2008 - $656,000

January 2009 - $576,000

January 2010 - $756,000

January 2011 - $1,043,000

January 2012 - $986,000

January 2013 - $944,000

Buying or Selling Vancouver Real Estate? Put Maggie's hyper-local experience to work for you! Call 604-328-0077 today!

No comments

Post Your Comment:

* indicates required fields.
Your Name: *
Please note, your email will not be shown publicly
Your Email (will not be published): *
Comment: *
Please type the text as it appears above:
Posts By Date
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.