West Vancouver
West Vancouver is a district municipality present in the province of British Columbia, Canada. It is the wealthiest municipality of Canada with an average household net worth of $4,454,424. It is also home to some large, luxurious & expensive housing properties.
Rushton said that it is one of the most affordable cities of Canada. The west end of the municipality, present in the downtown area is the most affordable & beautiful place to settle in then most of the Downtown locations. Houses here are also very affordable. It has many amazing job opportunities.
This city has a lot of wonderful schools. So, if you are planning to move to West Vancouver, this would be the best decision of your life.
Housing Affordability in West Vancouver
West Vancouver is one of the best cities in Canada to live in. One of the important reasons for housing affordability is that it always has enough houses to meet the demands of the families. That’s why the cost here never goes too high. It is the 18th fastest growing city & 12th fastest selling city in Canada.
Here you can find an example of an affordable house in West Vancouver. A four bedroom and three bathroom apartment is available for sale at 1262 Duchess Ave, West Vancouver. This house costs $3,498,000.
Real Estate Market Outlook of 2023
According to recent West Vancouver real estate statistics, the average housing price in the city is around $2,710,587. The city has had 136 new listings in the market in the last 28 days. West Vancouver required 24 days on the median on the real estate market to sell a real estate property. The average sold price of West Vancouver is approximately $2.7 M.
If we compare the real estate data of different construction styles of West Vancouver to the past 3-6 months then we can predict the real estate condition of the city in 2023. The most demanding construction styles are detached houses, townhomes & condominiums.
Detached houses don’t have any walls attached to adjacent buildings. Townhouse is a type of terraced housing. Condominiums are individual housing units in a building that can be owned individually.
All these are available with different covering areas, number of beds & baths. So let’s look at the average price of these houses. The detached houses were available at the average cost of $3.9M about three months ago. Now this price is $3.3M. This price has become more affordable.
Similarly townhouses were available at $2.4M and now the average cost is $2M. The most affordable houses here are condominiums. Their average price was $ 1.3M about three months ago and now this price has declined to $1.1M. The average housing prices of all these construction styles have decreased to some extent.
So we can predict the real estate market of West Vancouver will be affordable in 2023. From the prices of these houses, you can also predict that even a low income person can have a good house.
