Condo apartments account for most of the sales within Metro Vancouver these days, and prices for this property type are on an upward trend.
According to the latest data from the Real Estate Board of Greater Vancouver (REBGV), there were 1,854 apartments sold during February, up 5.4 per cent from the same month last year. Substantially more condos traded hands last month compared to detached (1,010 sales) or attached properties (560 homes sold.)
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Price wise, you’ll probably fork out an average of $807,900 for an apartment in Metro Vancouver as of February. Although the benchmark price for apartments in the region have increased 15.9 per cent year-over-year and 4.1 per cent from January, you’ll pay much less than you would for a detached property ($2,044,800) or an attached home ($1,090,000).
In light of “incredible momentum in the market,” more developers are launching new condos across Greater Vancouver, with more than 4,100 new construction condo apartments expected to come to market by the end of Q1-2022. If you’re wondering how far your money would stretch for the average $807,900 resale condo in the new construction segment, here’s a breakdown of five new condo plans and units you can find in Metro Vancouver for about the same price.
Prices, plans and unit information have been sourced from data found on BuzzBuzzHome’s search map. This is not a definitive list of all of the condo units or plans available near the $807,900 price point.
Located on the lower half of Johnston Road, Monaco is close to Semiahmoo Bay, White Rock Promenade and Ruth Johnson Park. Future residents will have access to a host of on-site amenities, including a rooftop community garden, a hobby room and a fitness centre.
Plan A2 at W63 Mansion – From $803,800
A collection of just 29 homes, W63 Mansion is located near Vancouver’s bustling Cambie Street. When complete in early 2023, this four-storey building will be walking distance to Winona Park, the Marine Drive SkyTrain station and several retailers south of SW Marine Drive.
In Coquitlam West, The Oaks offers a collection of family-friendly homes with a range of one- to three-and-a-half-bedroom layouts. The development delivers a half-acre courtyard finished with walking paths, gardens, a barbeque area and a play space for little ones to enjoy.
Plan E1 at Cedar Creek – From $799,900
The west coast design of this mid-rise project by Ledingham McAllister is said to be inspired by the “rugged and regal,” British Columbia cedar. Suites in this project feature nine-foot ceilings, balconies or patios with outdoor lighting and the purchaser’s pick from one of two designer palettes.
Plan C3 at Fraser Commons at Marine – Last listed from $809,900
Developer: Serracan Properties
Status: Selling, completed summer 2021
Specs: Two-and-a-half bedrooms, two bathrooms, from 764 square feet
Neighbourhood: Sunset, Vancouver
Project last updated: Mar 15, 2022
Rising 21 storeys near Fraser Street and SE Marine Drive, Fraser Commons at Marine features a series of contemporary condos and townhomes. Each residence features wood laminate flooring, quartz kitchen countertops and large-format porcelain tiles in the bathrooms.