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Looking for bang for your home-buying buck? Detached home prices on the North Shore – even in West Vancouver – offer much better value than Vancouver’s West Side in terms of cost per square foot, a new national survey reveals.
Despite the recent market slowdown, condos in downtown Vancouver and detached houses on Vancouver’s West Side are the two most expensive markets in Canada when calculating the per-square-foot price of living space, according to the Century 21 Canada report released November 7.
In the national top spot, the average price of a downtown Vancouver condo is pegged at $1,345 per square foot in the first six months of 2018, which is a staggering 39 per cent higher than the same period one year previously.
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Since last year’s survey, downtown Vancouver condos have overtaken West Side houses, which have slid nearly five per cent year over year to $1,147 per square foot. At $898.50, West Vancouver’s house prices were the fourth-priciest homes per square foot in Canada, beaten out – as they were last year – by downtown Toronto condos. The West Vancouver per-square-foot figure is a 10 per cent increase over the same period last year, despite absolute home prices dropping in that time.