How much have Metro Vancouver homes dropped in value? (INFOGRAPHICS)
Visual representations of dollar values by which benchmark detached home and condo prices have fallen in a year
Earlier this week, the Real Estate Board of Greater Vancouver issued its monthly stats report on home sales and prices, revealing that benchmark prices were sliding at an increasing rate.
Property website Zoocasa took this data one step further, and created two infographics – one for detached homes and one for condos – that show how much in dollar terms each area’s typical price has dropped over the past year.
It reveals that the vast majority of areas within the wider region saw significant benchmark price drops in the detached sector, with Vancouver West’s (West Side, Downtown West and West End) typical single-family home prices having lost more than half a million in value from a year ago.
Condo values, however, largely held their own around the region. Ten of the 21 areas examined (some of which fall within the Fraser Valley Real Estate Board) saw typical condo prices increase year over year, while 11 saw price declines. However, all the condo price changes, whether a rise or a fall, were relatively modest compared with the detached market.
Check out Zoocasa’s full infographics and price-drop rankings, below.
Joannah Connolly is editorial director of Glacier Media Real Estate, Glacier Media's real estate division. Joannah writes and curates real estate news for Glacier Media's local newspaper websites, including the Vancouver Courier, Times Colonist, Prince George Citizen, North Shore News, Burnaby Now, Tri-City News and others. She also writes and oversees editorial content in Real Estate Weekly Homes, West Coast Condos & Homes, Western Investor and Glacier's special real estate publications. A dual Canadian-British citizen, Joannah has 23 years of journalism and editing experience in Vancouver and London, with a background in construction, architecture, healthcare and business media. Joannah has appeared on major local TV outlets as a real estate commentator, has moderated and spoken on various industry panels, and spent two years hosting the Real Estate Therapist talk radio show on Vancouver's Roundhouse Radio.
Copyright © Western Investor
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