Vancouver
Vancouver is a bustling seaport in British Columbia, is the most dense city in Canada and ethically it is the most diverse city of Canada. It has a popular filming scenery, surrounded by beautiful mountains and also has musical art & theater. So, if you settle in this city, you will have an entertaining weekend and you will be able to spend a good time after your tiring routine.
Vancouver is an affordable city & no longer the most expensive city of Alberta, Canada. Numbeo said that the net average salary in Vancouver is around $57,545. You can save $1000 monthly after excluding all the expenses like debt payment and travel. These figures were stated in the April of 2022.
Affordable Housing Price in Vancouver
Traditionally, one of the main attractions in Canada is the average cost of housing as compared with their current location. The average sold price in Vancouver is $1.4M. The average housing price in the city is around $1,399, 472. There are around 1248 active listings in the city in the last twenty eight days. The Vancouver real estate market has approximately 19 days on average to sell or buy a house.
The different construction styles are the main feature of Canadian houses. The most common in Vancouver are detached houses, condominiums & townhouses. These houses are available with different numbers of bedrooms and bathrooms. You can buy the house of Your required size depending on your income and family size.
Real Estate Market Outlook of 2023
The particular attraction of Vancouver housing has faded in recent years. This is due to the strength of the Canadian dollar means that the new arrivals have very less purchasing power compared to previous years. Housing prices in Vancouver have continued to increase while the prices in other Canadian cities have either fallen little or decreased.
Vancouver still has the most affordable houses. This rise is bigger in other larger cities of Canada than the small cities, towns and rural areas. If we compare houses of different styles then the prices have slightly decreased from the last 6 months. The detached houses were available at the average rates of $3.1M almost three months ago while recently this price has declined to $2.9M average price.
Similarly, there is not any change in the rates of townhouses in Vancouver. The average real estate price of townhouses is $ 1.5 and it was the same about three months ago. The condominiums are the most affordable construction styles in the city. Their average price was $942k about six months ago. Today this price is almost $835K. This is a significant decrease in the city.
Based on this real estate data it can easily be predicted that even if the price of houses increases due to the increase in dollar or gasoline price, it will not be so much that you will still buy the house of your choice. If you want to live in this city, then start preparing to move to Vancouver quickly.
