VANCOUVER (NEWS1130) – The average price of a two-storey home in Vancouver is closing in on a huge milestone, according to Royal LePage. It says the price of a home that size will now cost about $1 million.
Year-over-year prices are up for all housing types in the city, but third quarter prices along with sales are down from their peaks.
The average price for a two-level home was up eight per cent to just over $975,000. Condos were up almost 10 per cent to around $500,000.
But homes are still selling below asking price, possibly because of the Harmonized Sales Tax. Royal LePage credits those historically low interest rates for continuing to drive buyers into the market.