If you’re looking for a non-strata home with no shared walls, but have less than $1 million in your wallet, your only currently listed options are floating homes or leasehold properties.
Just five detached homes are listed under $1 million in Vancouver right now, and not one comes with land. (Lease land is often city-owned, but the federal government, First Nations bands, universities and even private individuals also own and rent out land. These five homes are all on First Nations land.)
So if you yearn to own a slice of property, you’ll need to bust that budget. In the whole of Vancouver proper, the lowest-priced detached property that comes with land is listed at $1.049 million. This Renfrew property has been reduced twice from its original price of $1.199 million and then $1.149 million during its 36 days on market.
In total, as of June 28, 127 detached homes across the city of Vancouver are listed at less than $1.5 million – out of a total of 1,497 listings.
The median listing price for a detached house across the Vancouver East and West MLS® areas is $2.9 million. This ranges from a low of $240k for the cheapest of those floating homes, up to $46.8 million for this package deal of a Shaughnessy mansion plus two additional houses. And remember, this doesn’t include privately listed homes, such as Joe and Rosalie Segal’s Point Grey home, currently listed for a record $63 million.
Vancouver’s overall median listing price breaks down to $1,987,500 in Vancouver East (East Side and Downtown East) compared with a whopping $4.68 million in Vancouver West (Downtown West and West Side).
However, most detached listings across Vancouver fall between $1.5 million and $3.5 million, with 809 out of 1,497 listings in that range, and 305 homes between $1.5 and $2 million.
For more news on Vancouver real estate go to REW.ca
