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% 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.)

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% year-over-year and 4.1% 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.

The Average Vancouver Apartment Costs $807,900. How Does That Compare to New Construction? by Michelle McNally | Livabl