Median Prices of Vancouver Homes

Median Price

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.

Road-Median-Web-Ready

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.

Caution Always

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

Median Price 2013 03 21

Baseline Rules

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
$2,294,000 $846,500 $1,828,000 $939,000

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.

When Life Moves You - contact Larry:

*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:

van dude Says:
March 22nd, 2013 at 7:39 am

Thanks for the stats. I’ve always had a tough time trusting realtors, but you’re the one I feel I already trust because you provide stats and honesty.

Will you also provide detailed history on listings that are requested by your client? Basically, is there any stat or history of a listing that you won’t disclose to a client?

Thanks!

Beard of Bees Says:
March 22nd, 2013 at 8:26 am

Thanks Larry, that is a very nice plot. Interesting to compare with your averages plots too.

rp1 Says:
March 22nd, 2013 at 8:31 am

Thank you for posting this graph. I find it extremely informative.

March 22nd, 2013 at 8:41 am

@B of B
Thanks. Although I’m not certain, to my knowledge there isn’t a long term Median graph around. The sad part is that due to a number of reasons median data from the board prior to 2000 is somewhat spotty – ergo my start date. On a recent visit to the board I met the person working on the archive of documents and from what I’ve seen so far in a year or two we should be able to go back to the 40′s + -.

March 22nd, 2013 at 8:51 am

@van dude
thanks for the kind words.
re: your question – of course.
If the information requested is pertinent to the sale or purchase decision and is readily available then it should and will be disclosed. Depending on the situation it’s also wise to pay a visit to city hall, the Vancouver archives or the public library. You could be amazed at what you’ll discover about Vancouver real estate.

Alex Says:
March 22nd, 2013 at 9:15 am

Thanks for this Larry; very interesting. You provide such a great service with this blog! I hope you get many prospective buyers from it in the months ahead.

Village Whisperer Says:
March 22nd, 2013 at 5:15 pm

Thanks for this Larry.

Do you know the +/- change from January with these figures

March 22nd, 2013 at 5:22 pm

@whisper

Jan-13
Van West 2,028,000
Van East 810,250
West Van 1,816,500
North Van 906,000

I’ll leave the percentages for you to calculate.
I’m probably preaching to the choir but please don’t forget my rule: 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.

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