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Quick fact check returned this: "In all, 745 detached homes sold in Metro Vancouver last month, a massive 58.1 per cent drop from February 2016. The benchmark p
by dgudkov 10y ago
Quick fact check returned this: "In all, 745 detached homes sold in Metro Vancouver last month, a massive 58.1 per cent drop from February 2016. The benchmark price for detached homes was $1,474,200, unchanged from the previous month but down 6.5 per cent from the past six months."[1]. Also [2].
And that's CAD, not USD. In USD it's $1,092,000. Still very expensive but not $1.76mln.
[1] http://news.buzzbuzzhome.com/2017/03/metro-vancouver-home-listings-hit-14-year-february-low.html http://news.buzzbuzzhome.com/2017/03/metro-vancouver-home-li...
[2] http://www.vancourier.com/news/sales-average-detached-home-price-slump-in-metro-vancouver-1.2336362 http://www.vancourier.com/news/sales-average-detached-home-p...
- Tiktaalik 10y agoYeah those are "benchmark" prices, which is a special MLS measurement designed to value a "typical" home. I decided to ignore that valuation method and instead use average prices because I'm not sure if a similar or comparable measurement tool as the benchmark exists for SF home valuations. http://www.rew.ca/news/benchmark-vs-average-vs-median-what-s-the-difference-1.2096130 http://www.rew.ca/news/benchmark-vs-average-vs-median-what-s...
- Pxtl 10y agoThe housing price has deflated substantially in the past year because of a one-two-punch of a foreign buyer's tax and the Chinese government cracking down on rich Chinese people smuggling their money out of the country into foreign real-estate systems. Vancouver's market had a reputation of being driven by Chinese cash... and whether that's true or not, perception is reality when it comes to markets.