According to the Canadian Real Estate Association, the average price of a home in the Greater Vancouver region has reached $419,718 as of May 2005, a 12.4% increase over May 2004.
The CMHC has gone on to report (using CREA data - link to pdf) that the average price of a home in Vancouver has already climbed from just under $296,000 in 2000 to $373,877 in 2004.
- 2000: $295,978
- 2001: $285,910
- 2002: $301,473
- 2003: $329,447
- 2004: $373,877
Following Vancouver, Victoria had the second highest average home prices in Canada this May, at $373,685. Toronto was third at $346,474, while the average price of a home in Calgary was $259,903, according to CREA figures.
By comparison, during the first quarter of 2005 the median price of a home in San Francisco was $689,200 (USD). In Seattle, it was $321,100 (USD), and in Los Angeles, it was $474,700 (USD). (Source: NAR - link to pdf).
Note - median prices are lower than the average; US prices are a rough comparison.
