Kerrisdale Homes In Vancouver
Over the years, Kerrisdale single family detached homes enjoyed steady price gain as more home buyers seek out and buy homes that were for sale in the area. Generally, most detached homes in Kerrisdale, Vancouver have building lots from 6,500 to over 9,000 sq ft. View homes for sale in Vancouver West.
The smaller lots in Kerrisdale mostly have 33′ frontage and 120′ to 135′ deep. These homes in early 2000 were selling just around $300,000. Within 10 years, these homes with just around 4,000 sq ft lot were selling just over $1,000,000 – 3 times the price some 10 years ago.
At this time around August 2015, such homes are selling in the $1.7 to $1.8 million range. The price gain for single family homes in Kerrisdale can be considered very exceptional. Home owners are incredibly fortune to see such price gain over just 15 years. Such price gain is wide spread and the whole of Vancouver West benefitted with this spectacular rise in home prices.
The Cause For High Vancouver West Home Prices
It is simply basic economic, supply-demand imbalance. There are far more demand since 2000 for detached homes in Kerrisdale and Vancouver West in general. With limited supply, home prices continued to gain in value over the years. View homes for sale in Vancouver West.
This trend is expected to continue as Vancouver is recognized to be one of the best city in the world. With stable political climate and a very free and open government, rich immigrants especially those from mainland China, are pouring in millions of dollars into real estate.
They are not only buying properties for their own to live in, they are also snatching up pricey properties as assets they can hold on for future generations. This trend is expected to continue as there are many more rich immigrants wanting to come to Vancouver. With jsut 11 hours flight time from any major cities in China and Hong Kong, Vancouver is like the backyard of rich people from China.
If you are planning to buy or sell your home in Vancouver West, you are welcome to contact James Wong & Associates at 604-721-4817, or email us.