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Vancouver condo median sale price nears $900K – New Zealand to Ban Foreign Buyers – Homeless Crisis

The Biggest Ponzi In Human History, Vancouver condo median sale price nears $900K, Toronto Is Now Home To Over 896,000 Mortgages, U.S. Housing Bubble: Never Less Affordable, Amid Housing Crisis, New Zealand to Ban Foreign Buyers, Sydney Housing Prices Fall for a Second Month as Market Cools,

A spectacular, 1,500-square-foot, landscaped-garden roof terrace overlooking Coal Harbour and the North Shore mountains has to be the prime feature of Greater Vancouver’s priciest new condo listing the week of October 9 to 15.

Of the 155 condos listed on Vancouver’s Multiple Listing Service® that week, this fifth-floor, three-bedroom, 3,000-plus-square-foot condo was the most expensive at $6.98 million.

Despite that considerable price tag, there were nine detached houses listed the same week that were even pricier, with the most expensive of these coming on the market exactly $10 million higher, a whopping $16.98 million. That figure becomes even more jaw-dropping when you consider that this 1992-built First Shaughnessy mansion could use some serious updating inside. (Turquoise carpets throughout the bedrooms, anyone?) Indeed, the selling agent even suggests that the lot could be entirely redeveloped, as the house was built post-1940 and therefore allowed to be demolished.

Median sale prices were hardly any less eyebrow-raising, with the median of the 118 Vancouver condos sold that same week nearing the $900K mark, at $889,000. That figure breaks down as $925,500 among the 78 condos sold in Vancouver West (West Side, Downtown West and West End) and $717,500 among the 40 units sold in Vancouver’s East Side and Downtown East areas.

The priciest of those 118 condos to sell the week of October 9-15 (registered by October 26) was also a luxury Coal Harbour unit. This three-bed-plus-den condo in the coveted Carina building, which has amazing resort-style amenities, sold for exactly its $4,998,000 list price after just six days on the market.

But the city’s most expensive detached home sale was a luxurious, Arthur Erickson-designed, waterfront house on the “Golden Mile” of Point Grey Road. This 1964-built, 2015-renovated home sold for $9.35 million, $648K under asking, after 87 days on the market.

Joannah Connolly is the editor of REW.ca where you can find more Vancouver real estate news.

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