VANCOUVER — Looking to get into the Vancouver real estate market and not sure how much you need to save?
Homes still aren’t cheap in the area, but data from the region’s real estate board suggests the benchmark has dipped over the last two years.
Last month, the Real Estate Board of Greater Vancouver suggested the metric reached $1,020,060. For a detached home, that calculation based on what’s standard (age, size, location, etc.) for the current market jumps to $1,433,900. The condo benchmark is at $677,200, according to the REBGV in February.
It’s still high, but down 4.7 percent when compared to 2018, when the impact of the federal mortgage stress test started to show.