Alright, lets face it, most people do NOT care about what is happening in the Greater Vancouver Real Estate Market (besides us). What they CARE about is "what is happening in their own neighborhoods or where their investment is."
?
We’re going to explain what's happening generally anyway, in layman's terms. Historically low interest rates (we have never seen rates this low), low inventory (not enough homes for sale) + pent up demand (COVID related) have fueled our market and set it on fire.
?
If you’re interested in how the North + West Vancouver Market has gone over the last 5 years have a look below. Any specific questions on other markets, we are eager to answer them, so message us.
?
North Vancouver Stats:
Detached Homes - Benchmark Price $1,722,300
1yr change (increased) +12%
3yr change +2.9%
5yr change +22.8%
Townhomes - Benchmark Price $1,020,700
1yr change +7.6%
3yr change +2.9%
5yr change +38.9%
Apartments - Benchmark Price $591,400
1yr change +5.9%
3yr change +3.9%
5yr change +47.4%
West Vancouver Stats:
Detached Homes - Benchmark Price $2,906,700
1yr change +13.3
3yr change -6.2
5yr change +9.1
Apartments - Benchmark Price $1,072,900
1yr change +7.7%
3yr change -4.2%
5yr change +25.7%
?
We’re going to explain what's happening generally anyway, in layman's terms. Historically low interest rates (we have never seen rates this low), low inventory (not enough homes for sale) + pent up demand (COVID related) have fueled our market and set it on fire.
?
If you’re interested in how the North + West Vancouver Market has gone over the last 5 years have a look below. Any specific questions on other markets, we are eager to answer them, so message us.
?
North Vancouver Stats:
Detached Homes - Benchmark Price $1,722,300
1yr change (increased) +12%
3yr change +2.9%
5yr change +22.8%
Townhomes - Benchmark Price $1,020,700
1yr change +7.6%
3yr change +2.9%
5yr change +38.9%
Apartments - Benchmark Price $591,400
1yr change +5.9%
3yr change +3.9%
5yr change +47.4%
West Vancouver Stats:
Detached Homes - Benchmark Price $2,906,700
1yr change +13.3
3yr change -6.2
5yr change +9.1
Apartments - Benchmark Price $1,072,900
1yr change +7.7%
3yr change -4.2%
5yr change +25.7%