A recent analysis of the REBGV’s Housing Price Index for single family detached resales on the Westside of Vancouver shows that the index has reached an all-time high.
Year to date, there have been 1,498 single family house sales on the Westside of Vancouver, and the average sale price is a whopping $2,733,461. Only 136 homes have sold for less than $1,500,000, and the cheapest home sold was $877,000. (a tear down on West 41st near Main Street).
Source: REBGV HPI
With numbers like these, it is no wonder we are seeing increasing values in other areas and in the multifamily market.