Tues Post #1: Vancouver's Average Price hits a new record high!

As always, real estate agent Larry Yatkowsky is out with the latest statistics right off the bat.

Larry tells us Vancouver’s Detached homes average price in November reached an all time high as November 2013 registered $1,259,775. The previous record was set in May 2011 when the average price recorded was $1,223,421.

Compared to the same period last year, the number of detached homes sold were 47% higher – up from 635 to 934. Inventory dropped by 9%, down from 6,775 to 6,103.

Says Larry:

It’s not a surprise to see Vancouver’s detached home prices reach a new record high. Casual observation suggests continued increases may be the standard for the single family homes. While we all wish to own property in the ‘best’ parts of the city, the limitation of available land precludes this notion. It seems inevitable that ownership of a single family homes in Vancouver will continue to be ever more precious.

Dreams don’t always come true. Visions where everyone should own a detached home on a plot of land in Vancouver may is a different reality. Ever increasing prices for detached properties re-confirm that Vancouver is not egalitarian.

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