There was a time not too long ago when people were complaining that they don't have a million dollars to buy a home.

Meanwhile, prices continued to climb.

At the beginning of 2022, the price of a typical detached home stood at $1,953,000.

Guess what?

The benchmark price of a single-family home is now over $2 million.

It’s $2,044,800 to be exact in the Greater Vancouver market.

The regional real estate board reports that the new benchmark as of February 2022 represents a 4.7 percent increase from January of this year.

It’s also a 25 percent mark up from the same month in 2021.

Based on the report Wednesday (March 2), prices of townhouses and condo units likewise increased last month to $1,090,000 and $807,900, respectively.

The Greater Vancouver market covers Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

The Fraser Valley Real Estate Board also released its report on March 2, indicating price increases for all types of residential properties.

The benchmark price of a detached home in this market rose to $1,670,800 in February 2022.

That’s a 6.5 percent increase over January this year, and 43.6 percent more than February 2021.

The prices of townhouses and condos also increased last month to $840,900 and $614,800, respectively.

The Fraser Valley market covers North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission.

The two real estate boards indicated steady demand for homes.