Vancouver’s Average Home Price Freezes


You would almost think it was a Boxing Day sale as the average price of a Vancouver home dropped to levels rivaling the last quarter of 2010.

Average Price 1977 – 2011


Comparatively, Vancouver home prices appear to be in need of a heat injection. The latest chill is certain to add layers of ice to buyer’s shopping carts as the average prices shivered to a low of $1,064,249 – down from November’s $1,134,936 to nearly match December 2010’s $1,046,348.


The average price of Vancouver’s Attached properties will need a blast furnace to stay warm. December’s average of $511,948 seems flash frozen compared to November 2011’s $565,168 or December 2010’s $526,556.


The only segment without a chill is the Vancouver Apartment average price. December’s 2011 average climbed to $443,652 – up from November 2011’s average price of $431,808.

Vancouver Real Estate Average Price Numbers:

Detached Attached Apartment
December 11 – $1,064,249 December 11 – $511,948 December 11 – $443,652
December 10 – $1,046,348 December 10 – $526,556 December 10 – $439,648
December 09 – $952,927 December 09 – $510,130 December 09 – $418,096

Vancouver Real Estate Inventory – Active Listings

Detached Attached Apartment
December 11 – 4,583
+ 17%
December 11 – 1,752
+ 12%
December 11 – 4,813
+ 9%
December 10 – 3,912 December 10 – 1,559 December 10 – 4,397

Vancouver Real Estate – Units Sold

Detached Attached Apartment
December 11 – 635
December 11 – 254
December 11 – 774
– 4%
December 10 – 772 December 10 – 319 December 10 – 812

*Percent = YOY

Image Credit

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

fish10 Says:
January 1st, 2012 at 1:45 pm

Many thanks Larry.

You are a scholar and a gentleman.

A nice New Year’s gift for the long suffering!

January 1st, 2012 at 4:01 pm

too kind I’m sure 🙂

Good wishes to you in 2012.

January 1st, 2012 at 9:42 pm

Thank you so much for having this up – pretty much on schedule. This graph is amazing. What is interesting however is that much of this is in the mix of the massive slowdown of Van-West and Richmond. Since they have had some of the highest prices, the slowdown here affects the average. Then – for apartments in December, there were a couple of very large sales over 7Million. If these were excluded – we would have seen the decrease.

Not sure what to read into this overall picture other than the CMHC and low interest rates is continuing to bring new buyers in while the absence of the massive Chinese money which came last spring has taken the froth off the top.

When we get to May- I think we will know if this is a new trend or just another dip in the average.

vanpro Says:
January 2nd, 2012 at 9:49 am

Thanks Larry! The down trend in SFH average price continues: DOWN nearly $160,000 to $1,064,249 (-13%) since May/11 peak ($1,223,421).

Dec/11 Sales overall WAY DOWN YoY (i.e. compared to Dec/10):

SFH -17%, Attached -20%, Condo -4%

Unsold Inventory WAY UP YoY:

SFH +17%, Attached +12%, Condo +9%

And MOI (lead by SFH):

Overall MOI = 6.7 (11,103/1,663)

SFH MOI = 7.15

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