Based upon the most recent statistics from the Real Estate Board of Greater Vancouver’s Home Price Index, benchmark prices in Port Moody have remained relatively stable over the past couple of months despite a slowdown in resales activity. The benchmark price for condos has dropped 2.0% since May 2012, but townhomes and single family homes have shown an increase.
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Source: REBGV stats. (The home price index measures the rate of change on housing prices based on resales data to obtain benchmark prices.)
For perspective, the benchmark price for single family reached a new peak in July 2012. Overall, since July 2010, single family homes prices in Port Moody have risen 11.1%, while townhouses and condos have actually declined during the same period.
747 Cardero Street, a 2-storey office building at Cardero and Alberni Streets in Downtown Vancouver has sold for $2,800,000, or about $995 per sq ft. The building had been fully vacant at the time of sale.
A single storey retail building in the Point Grey Village area of Vancouver has sold for $3,108,000, or $1,120 / SF. The building has tenants including Burgoo restaurant and UPS. The frontage is 50 ft and the lot is zoned C-2. The price works out to $204 per buildable SF, indicating that the property was likely bought as a hold with redevelopment potential.
