Metro Vancouver Entry-Level, Newer-Home Resale Market Insider September 2022

Metro Vancouver Entry-Level, Newer-Home Resale Market Insider September 2022

September 2022 Highlights

  • Surrey & South Surrey submarkets combined for just 1 sale of entry-level, newer single-family homes in September 2022 -- there are currently 72 homes listed for sale.
  • Although data is limited, there was a $2.5 million sale price difference between South Surrey and Westside Vancouver newer, entry-level single-family homes.
  • Coquitlam (9), Burnaby (7) & North Vancouver (3) have extremely limited supply of entry-level newer single-family homes.
  • There is only one active one-bedroom listing for sale in South Surrey.
  • East Vancouver has the greatest gap in median sale prices between newer two-bedroom condos and entry-level townhomes at $468,000, followed closely by Coquitlam at $360,000. South Surrey represents the least at $145,000.

About the Report

The entry-level, newer-home market insider is a monthly newsletter that delivers the latest realtor-level sales statistics for all “newer-home” product types.
The mix of product types monitored include the “entry-level” forms of single-family & townhome product, along with one & two-bedroom condominiums.
The monthly statistics are based on several of the most popular areas in Metro Vancouver for first-time buyers, young professionals & families, and investors.

Reasons why you should consider newer-home resale data:

  1. Great for those looking to purchase housing that is still in the early stages of its lifecycle – this means less repairs & maintenance during the first few years of ownership.
  2. More recent building and developer history – provides assurance and certainty when making one of the most important transactions of your life.
  3. Homes include some of the latest design and technology – great for resale value when considering to move-up the property ladder.
  4. Provides comparables for individuals considering a new pre-sale purchase for either end-use or investment – comparing newer resale data to presale pricing provides valuable insight into the product being considered for purchase.
These monthly sales statistics also provide important information for any new housing being considered for development. Investors, developers, and homebuilders can use newer resales as objective data points.
These figures are routinely used to understand the value of land, and anticipated market values for newly completed homes.

Work With Manraj

Whether you're new to the housing market, an investor, or a homeowner planning to switch properties, trust in Manraj's relational and data-based approach to provide you with the right knowledge for your next move.