It's pretty rare to find a house in Vancouver that's both livable and under $1 million. We won't get into the joke that is the cost of Vancouver real estate, but we will say that it's no surprise that people want to live and buy homes here so badly. Recently, this trend has changed due to low house prices hitting a 27-month record low. It's not quite a buyer's market but the turn has got our attention.
There are now properties on the market to buy under $1 million and they’re actually nice. Buying could be a good alternative to renting since it looks like Vancouver rental prices will never come down.
The Real Estate Board of Greater Vancouver (REBGV) released data report that shows there were 2231 residential sales in the region in August this year. This is a 15.7 per cent increase from the 1929 sales in August last year, but 9.2 per cent below than the 10-year average for August.
The report concludes that the market is starting to return to more normal levels, which means if you're looking for a house now is the time to buy.
“Home sales returned to more historically normal levels in July and August compared to what we saw in the first six months of the year,” said REBGV President Ashley Smith.
We’ve found six properties in Vancouver that are all under $1 million, and they’re all detached homes rather than apartments. These are not likely to stay on the market for too long so if you have just under $1 million to spend, then get those wallets out.
Cute Two-Bedroom Cottage Style Home
Why You Need It: This is a two-bedroom single-family home in Vancouver. It's across within two bus stops of the sky train if you need to commute and it has a cheerful blue colour.
Single Family House in the River District
Why You Need It: This cute four-bedroom detached house in the River District comes with a perfect backyard for your fur babies.
House with six bedrooms
Why You Need It: This house has six bedrooms with three bathrooms and a skylight. It's close to the Langara Campus and there's a bus stop right outside the property. It's perfect for sharing with housemates.
House in Killarney with four bedrooms
Why You Need It: This is a four-bedroom house that comes with its own parking space and a lot of potential, AKA it looks like a potential fixer-upper! It's being sold as-is, including a tenant who you can keep on after you buy the home.
If you're in the market to buy, it's worth keeping an eye out as more listings get added on a regular basis.