Vancouver Real Estate
Vancouver is loosely referred to by the local residents as a City comprising of Downtown Vancouver, Vancouver West and Vancouver East. To the north of the City of Vancouver, North Vancouver and West Vancouver are local municipalities that administer the local civic matters, bylaws and building regulations. The cities of Richmond, Burnaby, South Delta/Tsawwassen, New Westminster, Coquitlam, Port Coquitlam, Port Moody, Pitt Meadows and Maple Ridge. Quick Search – homes for sale in Greater Vancouver.
The area marked with the small blue circle is Surrey / White Rock which is a part of Fraser Valley and for real estate classification, properties in this area are under the Real Estate Board of Fraser Valley.
Real Estate Prices In Vancouver
Residential real estate as defined by the housing types by local residents are consisted of single family detached homes, townhouses and condos/apartments. The average price for detached homes within 20 minutes drive from the City Center of Vancouver is around $2.8 million. Further out within 30 minutes to 40 minutes drive, detached homes are priced from $1.2 to $1.5 million.
Townhouses and condos/apartments are multi-family dwellings with smaller living areas, strata titled and governed by the Strata Property Act of British Columbia. Condos are priced from $300,000 for the small one bedroom unit to over $800,000 for the larger units with two or three bedrooms. These homes generally have living area from 500 sq ft to over 2,000 sq ft.
Townhouses are larger properties with living area from 1,200 to 0ver 2,000 sq ft and they may range in price from $500,000 to $1.5 million. Growing families are constrained by their budgets, and most may only be able to afford buying townhomes close to Vancouver, or move further out if they wish to own detached homes that may be priced from $600,000 to $1.0 million.
If you are planning to buy or sell your home, kindly contact Eva at 604-618-7560 or send her an email.