Real estate market ekes out small one-year gain

Prices now relatively stable, realtors say

Detail of Fraser Valley Real Estate Board graph plotting the average price of detached houses in the Fraser Valley over the past five years. Prices bottomed out at just under $500

Lower Mainland housing prices have posted thin gains over the past year.

Detached houses rose 5.6 per cent from one year ago to a benchmark price of $799,000, according to the Real Estate Board of Greater Vancouver.

Attached homes on average gained 4.1 per cent to $488,000 while condos were up 1.9 per cent to $389,000 in November compared to the same month in 2009.

The Greater Vancouver association covers Metro Vancouver except Surrey, North Delta, White Rock and Langley.

In those areas and points further east, benchmark detached homes are up an average 1.4 per cent from a year ago to $504,000, according to the Fraser Valley Real Estate Board.

Townhomes are up 1.9 per cent to $319,000 and condos gained 2.7 per cent from a year earlier to $242,000.

The biggest gain in one-year prices have been in detached houses on Vancouver’s west side, which are up nearly 18 per cent to $1.7 million.

Richmond houses were up 13.7 per cent to $920,000.

On the downside, the stats show Port Moody houses have slid more than 10 per cent from a year ago to $719,500.

The median price of Abbotsford townhouses fell about 16 per cent to $230,000.

Realtors report consistent home sales and relatively stable prices, with continued low mortgage rates helping shore up buyer demand.

“Home values have been relatively stable over the last five months compared to the summer period when we were seeing some downward pressure on prices,” said Jake Moldowan, president of the Real Estate Board of Greater Vancouver.

Just Posted

Fundraiser for teenager hit by car in Rosedale

Teen suffering multiple fractures and blood clots following incident on Yale Road

Hope’s Uptown Mall sees two new businesses open shop

Spa 6 Tanning & Wellness opened in December 2018, Hanky’s Restaurant opened on March 8

Vedder River cleanup nets bag of discarded sex toys

Chilliwack volunteers stumble on unexpected find while removing 600 lbs of trash from riverway

Chilliwack International Spring Film Series returns to Cottonwood 4 Cinemas

Put a spring in your step with the Chilliwack International Spring Film Series’ feature titles

UFV introduces first mindfulness graduate program in Canada

Most of the University of the Fraser Valley program is offered online

VIDEO: 13-year-old killed in B.C. crash that involved five kids

The children range in age from six to 17.

MPs denounce leaked reports of Trudeau-JWR clash over Supreme Court pick

Opposition MPs called the leaks an act of desperation meant to smear Wilson-Raybould

Study says B.C.’s housing policies mean drug users can be targeted for eviction

The study involves 50 people living in Vancouver’s Downtown Eastside

VIDEO: Homicide team called in after three killed in Surrey car crash

Investigators ask public to come forward with information, dashcam video

Stranger climbs onto B.C. family’s second-floor balcony, lights fire in barbecue

Incident in Abbotsford terrifies family with two-year-old boy

UPDATED: Sailings resume after BC Ferries boat hits Langdale terminal

The Queen of Surrey is stuck on the dock, causing delays to Horseshoe Bay trips

Eviction halted for B.C. woman deemed ‘too young’ for seniors’ home

Zoe Nagler, 46, had been given notice after living in the seniors complex in Comox for six years

Coroner’s inquest announced for Victoria teen’s overdose death

Elliot Eurchuk was 16 years old when he died of an opioid overdose at his Oak Bay home

Vancouver Island home to B.C.’s luckiest lotto store

Five million-dollar winners have bought tickets from same Port Alberni corner store

Most Read