Market Statistics
The Greater Vancouver real estate market is quite unique. While real estate is cyclical as it is in every industry, ie., highs and lows within the seasons, and the same in economic cycles, the prices have always exceeded the previous plateau. Those who live here understand the dynamics. Land is also very limited as to how much can be built in the area.
Our weather is mild all year long. Rarely do we see snow on the lower levels, but always snow on the mountains, and rarely do we experience heat waves in the summer. A pristine natural water supply from the mountains is in abundance as is clean air. The grass is usually green all year round because of the regular rainfall.
Being on the Westcoast, Greater Vancouver is also the natural port city/hub for international travel and trade to the east. Combine this with the lifestyle, quality living conditions, a stable social, economic and political environment and you can understand why our real estate prices are the highest in Canada. The attached graph illustrates average house prices (which includes townhouses and apartments) by month since 1977 for the Greater Vancouver Area. Of course typical prices increase in value as you move closer to the city centre. For more detailed information on specific neighbourhoods, please contact our office at: admin@westburn.com.
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