If kept in perspective Median Prices can be useful information to anyone considering the sale or purchase of a Vancouver property. An accepted practice for establishing a median price is to find the approximate middle of a price range. An example would be a selection of 200 properties where 100 properties are above $1,000,000 and 100 properties below $1,000,000. The median would be $1,000,000.
Vancouver’s Median Prices
As is normal practice I bring to my clients all statistical information possible when discussing the sale or purchase of their home. It is also my normal practice that if such graphical information is not readily available as a service from my board I will based on their data, build it. Such is the case with this Median graph.
Additionally, in the past while commentators have expressed an interest in having a Median Price graph for Vancouver properties. It seemed appropriate to share this with them. I hope it will serve all well in your Vancouver home selling or purchase deliberation.
Does your real estate salesperson offer this service? If not, you might wish to consider giving me a call when life moves you.
In the graph below you will find a Median Price graph that includes Vancouver West, Vancouver East, West Vancouver and North Vancouver – the four communities within my service area.
Remember that the Median Price is merely another statistical tool to help you make a Vancouver home buying or selling decision. It is a starting point.
Median Price January 2000 – February 2013
Prices higher or lower than the median will reflect individual characteristics of a property some of which are – land size, proximity to water views, condition and nearby amenities. In all cases the median price should be viewed as a useful baseline while remaining cognizant that each property is unique and its characteristics must be taken into account.
Detached Median Prices February 2013
|Vancouver West||East Vancouver||West Vancouver||North Vancouver|