Vancouver, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $1,850,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Apartment
| Median price | $800,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 1.5% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $1,500,000 |
| 3 bedrooms | $1,850,000 |
| 4 bedrooms | $2,200,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $650,000 |
| 2 bedrooms | $800,000 |
| 3 bedrooms | $950,000 |
Demographics
| Current Population (2025) | 675,218 |
| Previous Population (2020) | 670,000 |
| Population Change | 0.3% |
| Total Private Dwellings | 300,000 |
| Occupied Private Dwellings | 280,000 |
| Population Density (per km²) | 5.3 |
| Land Area (km²) | 115.0 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Vancouver, British Columbia, continues to be one of the most robust and expensive in Canada. As of the latest data, the median house price in Vancouver stands at $1,850,000, reflecting a modest year-over-year increase of 2.5%. This growth rate indicates a stable market that continues to show strength despite economic uncertainties.
The apartment sector is also witnessing a positive trend with the median apartment price reaching $800,000, which is up by 3% from the previous year. This higher growth rate in the apartment segment suggests a strong demand for more affordable and versatile housing options in an increasingly expensive market.
With a population of 675,218 and a growth rate of 0.3%, Vancouver’s demographic trends continue to support housing demand. However, it’s important to note that the population growth rate appears relatively subdued, which could reflect limitations due to housing affordability or other economic factors.
Investment Opportunities and Potential
The investment landscape in Vancouver offers diverse opportunities. The steady growth in property values indicates a market that has remained resilient over time. Investors looking for long-term capital appreciation may find single-family homes an attractive option given their consistent appreciation.
Meanwhile, apartments present a potentially higher yield investment opportunity due to their stronger price growth trend and appeal to both renters and buyers seeking more affordable living spaces. Investors focused on rental income may find this sector particularly lucrative as it caters to a significant portion of the city’s population who may be priced out of the single-family market or prefer the convenience of apartment living.
Future Market Outlook
The future outlook for Vancouver’s real estate market remains cautiously optimistic. If current trends continue, both houses and apartments are expected to see sustained demand, underpinning stable price growth. However, investors should remain mindful of external economic factors such as interest rates, immigration policies, and global economic conditions that could influence local market dynamics.
Moreover, with increasing discussions around housing affordability and policy interventions aimed at cooling off high-value markets like Vancouver’s, there could be regulatory changes on the horizon that might impact future growth trajectories.
Overall, while there are always risks associated with real estate investments, Vancouver’s established track record for resilience and its status as a desirable location are likely to support its real estate market moving forward.
