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.
📢 SOUND OFF: Are you trying to get into the real estate market? What can or should be done about the high cost of housing? Got ideas about affordable living in New West? Share your thoughts — send us a letter.