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New West real estate prices climbing towards a new high in 2023

And the most expensive neighbourhood is ...
This home at 1806 Nanaimo St. in the West End is currently for sale for $2,999,000. The West End has the highest median sold price of all New West neighbourhoods so far in 2023.

Real estate prices in New Westminster are on track to hit a new high in May, the latest sales data shows.

Statistics from Zealty ca show the median sold price of real estate in New Westminster currently sits at $746,000 in May — the highest median sold price in nine years’ worth of monthly data.

April saw a median sold price of $725,000 — just shy of the $728,000 peak achieved in February 2022.

Leading the way as the most expensive neighbourhood so far in 2023 (January to April) was the West End, with a median sold price of $1.549 million. Coming in right behind was the Heights, with a median sold price of $1.44 million.

Queen’s Park, which had the highest median sold price by far in 2022 ($1.87 million) is lagging so far in 2023, with a median sold price of $1.25 million.

Here’s how the median sold price looks so far in 2023 for other neighbourhoods:

  • Connaught Heights: $1.34 million
  • Moody Park: $1.23 million
  • North Arm: $1.115 million
  • Glenbrooke North: $1.1 million
  • Queensborough: $975,000
  • Fraserview: $694,500
  • Quay: $654,500
  • Downtown: $615,000
  • Uptown: $610,000
  • Sapperton: $598,750

Those prices include all kinds of real estate, including detached homes, apartments, townhouses and vacant lots.

So far in 2023, the median sold price of a detached home is $1.48 million, compared to $1.55 million in 2022.

For apartments, the year-to-date median sold price is $615,000, compared to $610,000 in 2022. For townhouses, it’s $972,450 so far this year, compared to $997,500 in 2022.

Follow Julie MacLellan on Twitter @juliemaclellan.
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