Median price of Metro Vancouver homes increases 40 percent over 10 years to $800 per square foot
Everyone knows that homes have become more and more expensive.
Just by how much?
Well, there are a number of ways to slice and dice this subject.
Zealty.ca, a real-estate information site operated by Holywell Properties, uses median price per square foot as one of many parameters.
Median price is simply the number in the middle of a list of ascending or descending numbers.
Based on numbers crunched by Zealty.ca, the median price per square foot of homes in markets served by the Real Estate Board of Greater Vancouver (REBGV) increased 40.6 percent in December 2021.
That’s in comparison to the 10-year December average.
Specifically, the median price of residential properties in Greater Vancouver rose to $800 per square foot.
Compared to November 2021, Zealty.ca numbers show that last month’s figure represents a 1.8 percent increase, and a 19.4 percent addition to December 2020.
Take note, that the REBGV area does not include Surrey, which is a major market.
On the East Side of Vancouver, the median price per square foot as of December 2021 stood at $896.
That’s a 35.1 percent increase over the 10-year December average.
On the West Side of Vancouver, the number in December was $1,088.
This represents a 21.7 percent increase over the 10-year average for the month of December.