It’s no secret that Vancouver Real Estate is booming. Although, it is one thing to hear this through traditional media outlets and social media posts, and another to actually see the factual stats. So allow me to share with you the most recent MLS® Home Price Index reports.
Residential Property Sales in Vancouver
The reports are in, and residential home sales in the Vancouver region totaled 5,173 in March alone, which is an increase of nearly 30% from that of previous sales in March of 2015.
In addition, April showed that residential property sales in Vancouver were 56% above the 10-year sales average, making Vancouver real estate twice as hot beyond an entire decade that came before 2016!
“March was the highest selling month the REBGV has ever recorded,” Dan Morrison, REBGV president said. “Today’s demand is broad based. Home buyers are active in neighbourhoods across our region.”
What Types of Properties are Selling for Top Dollar in Vancouver?
Listings for both detached homes, as well as condos are the most reported property type to sell in Metro Vancouver, with attached (row-homes and townhouses) also featuring on the selling list.
So basically, if you have any piece of property in Metro Vancouver, it is a sellable piece of property that is capable of receiving top dollar very quickly. And the reason …“Strong job and economic growth in our province, positive net migration and low interest rates are helping to drive this activity,” Morrison said.
What is the Median House Price in Metro Vancouver?
MLS® Home Price Index reports that Median House Prices in Metro Vancouver is currently $815,000, offering home sellers in Vancouver a 23.2% increase on their investment over this same time last year (2015).
What Property Types Have Increased In Value the Most?
Detached properties are reported to have increased 24.8%, with attached properties coming in at an increased value of nearly 9%, and condos and apartment style dwellings selling for over 38% from March 2015 of last year! Truly a significant increase overall, with Vancouver condo owners really bringing in the most return on their investment.
Real Estate in Vancouver has truly NEVER been hotter, and is priced to make you – the seller – the most profit you will have ever seen to date!
More information: Vancouver Real Estate Statistics