Earlier quoted context omitted.
The average price of a detached home in Metro Vancouver (includes suburbs of Vancouver) in February was $1.76 million. That's down from $1.82 million a year earlier. 99.7% of properties in the City of Vancouver proper are valued at more than $1 million. The average price for a detached home in the City of Vancouver in 2016 was $2.77 million. I've had some trouble finding closely comparable values but it seems like th…
Quick fact check returned this: "In all, 745 detached homes sold in Metro Vancouver last month, a massive 58.1 per cent drop from February 2016. The benchmark price for detached homes was $1,474,200, unchanged from the previous month but down 6.5 per cent from the past six months."[1]. Also [2]. And that's CAD, not USD. In USD it's $1,092,000. Still very expensive but not $1.76mln. [1] http://news.buzzbuzzhome.com/20…
Vancouver's market had a reputation of being driven by Chinese cash... and whether that's true or not, perception is reality when it comes to markets.