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A single-family New Westminster home under $1M? Yes, it exists

A slower real estate market means prices are coming down in New West — though "affordability" may still be a long way off.
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This Ewen Avenue home in Queensborough is the lone single-detached house in New Westminster currently selling for less than $1 million.

If I had a million dollars, could I buy a single-family home in New Westminster?

Yes, in fact, I could — but my options would be limited. Or make that “option,” singular.

Zealty.ca shows one single-family home currently for sale in the city for less than $1 million — and that’s a 1902 home on Ewen Avenue in Queensborough.

The five-bedroom, two-bathroom home at 806 Ewen Ave. was listed at $1,150,000 in August 2022 and reduced to $988,000 at the end of December.

The 1,268-square-foot home offers 813 square feet on the main level and 455 square feet above, with a bathroom on each level. It has two bedrooms on the main floor, along with living room and kitchen, and three bedrooms upstairs.

Four single-detached homes are also available in New Westminster, as listed on Zealty, for less than $1.2 million (as of Jan. 23):

  • a three-bedroom, 1937 home on Cedar Street in Sapperton;
  • a four-bedroom, 1924 home on 10th Avenue by Moody Park;
  • a three-bedroom, 1927 home on Cornwall Street in Brow of the Hill; and
  • a two-bedroom, 1944 home on Blackley Street in Queensborough.

Vancouver real estate prices dropping, but still high

Real estate prices have been on a slow downward slide in the Lower Mainland, according to Real Estate Board of Greater Vancouver figures, but the drop hasn’t been steep.

As of December 2022 (the latest available numbers), the benchmark price for a detached home in New Westminster was still $1.4 million.

Just nine detached homes sold in New Westminster in December 2022, well down from the 22 detached homes sold in the city in December 2021.

The median selling price of a detached home in New Westminster in all of 2022 was $1.55 million.

Follow Julie MacLellan on Twitter @juliemaclellan.
Email Julie, jmaclellan@newwestrecord.ca

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