Invest! Invest! Invest!
When broken out by property type, however, that annual price increase was 18.4 per cent for a condo in the region, with the median sale price of $692,452 in Q2 2018.
“To put it into perspective, the budget now needed to purchase a condo could have netted someone a two-storey home in Greater Vancouver four years ago.” Within Vancouver’s city limits, aggregate home prices grew at a slower rate of 2.4 per cent year-over-year to $1,416,729. That slight increase was entirely driven by condos, which rose 17.9 per cent year-over-year to $828,891. That was significantly higher than two-storey homes and bungalows, which both declined in value year over year.
Now is the time to take advantage of our market, before prices go up even more, and what you like, and what you can buy are no longer the same