Vancouver Average Sets Another New Record

Ain’t No Mountain High Enough

Climbing above all previous highs, Vancouver’s detached home prices have secured another average price record.

Average Price 1977 – 2014

2014 03 01 Average Price

Highlights

Mount Robson (2)

  • Vancouver’s new Detached home average price is now an astounding $1,361,023.
  • Attached prices Up
  • Apartment pries Up
  • Inventory in all segments Down
  • Sales in all segments Strong

Vancouver Real Estate Average Numbers

Detached Attached Apartment
February 14 – $1,361,023 February 14 – $575,232 February 14 – $454,213
February 13 – $1,221,037 February 13 – $549,793 February 13 – $426,276
February 12 – $1,235,244 February 12 – $573,534 February 12 – $455,689

Vancouver Real Estate Inventory – Active Listings

Detached Attached Apartment
February 14 – 5,814
– 11%
February 14 – 1,872
– 17%
February 14 – 5,726
– 03%
February 13 – 6,544 February 13 – 2,282 February 13 – 5,963

Vancouver Real Estate – Units Sold

Detached Attached Apartment
February 14 – 1,035
+ 46%
February 14 – 466
+ 39%
February 14 – 1,032
+ 35%
February 13 – 707 February 13 – 333 February 13 – 760

*Percent = YOY

Why or What

You have to ask who or what is driving these prices to continued new highs? Is it:

House Picture Prices Rising
  • Chinese Lunar New Year predictions associated with the Year of the Horse?
  • RBC’s proclamation of higher interest rates?
  • staking claims to citizenship before the closing of the Investor Immigration program
  • Vancouver is the most beautiful place in the world?
  • Vancouver is the new ‘gated community’ for the world’s wealthiest people?
  • almost free medical services?
  • B.C. is SuperNatural?

Your Thoughts

What do you think is causing these prices to climb? Drop your thoughts in a comment and do me a favor – like this post. Thanks.

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:

James Says:
March 2nd, 2014 at 5:36 am

It’s a place where some of the world’s most distinguished criminals are welcomed with open arms ; they can move in a feel right at home and become part of the privilege few who can enjoy a society devoid of culture with seven months of rain..

Sam Says:
March 2nd, 2014 at 8:48 am

I am in shock when I see this. I thought once we hit the million dollar price mark, there will be a mental barrier for many to pull the trigger. Guess I was wrong..up another $300k since.

Sam Says:
March 2nd, 2014 at 11:41 am

James, your words are spoken like a true bear. =)

rp1 Says:
March 2nd, 2014 at 1:02 pm

Meh, Bitcoin had a better run. You can give thanks to central banks and governments, but remember enjoy the benefits before the consequences catch up to you.

Johnny Says:
March 2nd, 2014 at 1:59 pm

At this point you would have to be financially illiterate to cheer on higher house prices.

Jackson Says:
March 3rd, 2014 at 9:22 am

That is absolutely insane. If I saw this as a stock price, I would be selling now.

Boom Says:
March 3rd, 2014 at 11:31 pm

All looks good until it does’nt

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