Here in Vancouver, often referred to as the priciest housing market in Canada, news pertaining to lofty gains in real estate are reported with fervor. Unfortunately, much of the news continues to rely on changes in average prices as a means of identifying current trends, despite the fact that these averages include extreme values at both ends of the price spectrum, thereby distorting actual market trends. Prompted by the over-reliance on average sales prices in discussions of real estate market trends, Urban Futures continues to publish an annual report that looks at all sales in the Lower Mainland region and how multi-million dollar home sales skew the overall housing picture within this market.
For our latest report, click here.
For a map showing recent changes in average residential sales prices, click here.
For a map showing recent changes in median residential sales prices, click here.