The Median Sale Price of Vancouver Real Estate Takes A Dive

Mortgage Purchasing New Immigrants

In Vancouver, the amount of homes for sale have declined quite a bit since the pandemic began. But, the houses that are for sale already that people could buy is also on the decline. People aren’t selling nor or they buying very much right now. It is actually the lowest it has been in decades. It is expected to come back up in the months following the pandemic, but as of right now the industry is suffering.

Key Takeaways:

  • Vancouver real estate is definitely taking a hit because of the coronavirus, but it’s not clear how bad it is.
  • The average home price is up, but that trend might not last for long.
  • Home sales through the Vancouver region have fallen dramatically because of the virus.

“The median sale price in the City is much more mixed than the benchmark. In Vancouver East, the price of a typical detached home reached $1,500,000 in April, up 0.20% on the month, and up 8.61% on the year.”

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