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Got $1M? That’ll buy you a median-priced Vancouver condo

Of the 635 condos currently listed on the MLS® in Vancouver proper, the median unit is priced at $999,800. That's a mere $200 under the million-dollar mark that was the milestone price for all home types combined, not so long ago.
Vancouvers most expensive condo
The Fairmont Pacific Rim penthouse has 2,900 sq.ft. of terrace space with views of Coal Harbour and the Burrard Inlet.

Of the 635 condos currently listed on the MLS® in Vancouver proper, the median unit is priced at $999,800. That's a mere $200 under the million-dollar mark that was the milestone price for all home types combined, not so long ago.

A look at current listings reveals that this median list price is even higher in Vancouver West (West Side, Downtown West and West End) at $1,204,000 among the 468 units for sale. In Vancouver East (Downtown East and East Side) you can get somewhat better value at a median of $748K.

Looking at the condos that were listed Jan 1-7 alone, sellers certainly seemed optimistic going into the New Year, with the median new listing price across the whole city at $1.198 million. This is likely based on last year’s soaring condo prices and predictions that prices will surge further despite the reduction in purchasing power caused by the January 1 launch of the new mortgage stress test.

The highest-priced home to be listed last week was this $38 million Coal Harbour penthouse atop the Fairmont Pacific Rim – likely Canada’s most expensive condo available for sale on the MLS and certainly the priciest property on Greater Vancouver’s MLS as of January 12. If sold anywhere near that price, it would be Vancouver’s most expensive condo sale ever recorded on the MLS.

Vancouver’s detached homes saw no such extravagant new listings last week, the priciest being a $13.98 million house designed by a renowned architect in the 1990s and located in an upscale Kerrisdale enclave.

However, the median list price of a Vancouver detached house is still close to $3 million, currently standing at $2,998,000 among the 1,102 houses available on the MLS. In Vancouver East, the median asking price of the 558 houses for resale is $1,999,000 – but in Vancouver West, that price rises to a jaw-dropping $4,680,000.