The top line shows the average price of houses. The middle line is townhomes and the bottom is condos.
According to the REBGV, sales decreased by 35% in 2008, versus 2007 and prices are down 15.9% for houses and 14.5% for condos and 11.6% for townhomes, from May 2008.
For Vancouver West Side, house prices are up 64% over the last 5 years. Townhomes are up 68.3% and condos are up 54%.
Best value for a house in Greater Vancouver is Maple Ridge, with a benchmark price of $394,893. The most expensive is West Vancouver at $1,168,852, closely followed by Vancouver West Side at $1,165,007.
Best value for a townhomes is also Maple Ridge at $300,497.Most expensive n’hood is Vancouver West at $609,623.
Best value for a condo is also Maple Ridge with a benchmark price of $220,481. Most expensive is West Vancouver with a benchmark price of $575,736, followed by Vancouver West at $424,509.
Total sales for 2008 vs 2007 – houses 1033 vs 1745. Townhomes 512 vs 814 and condos 2398 vs 5605, as recorded on MLS.
Total listings for 2008 vs 2007 – houses 3135 vs 2491. Townhomes 1566 vs 1223 and condos 8899 vs 7750, as recorded on MLS.
Total new listingsfor Vancouver West – December 2008 – 312 vs 417 in December 2007
Total sales for Vancouver West in December 2008 – 219 vs 170 in November (amazing! given the incredible snowfall we had for the last 2 weeks of the month). December 2007 showed 372 sales as per MLS.
View my other posts on Vancouver average price graphs.