In the Vancouver market, we often hear about the benchmark price, the average price, and the median home price. Usually that of a specific neighbourhood or municipality.

However, what buyers rarely hear is the average price of the bottom 80% of listings of the Greater Vancouver Area. Y’know, the properties that the overwhelming majority of us live in.

A review of this significant market slice is overlooked because it is boring. Boring, because when we skim the ultra high end sales off the top, and look at the lower 80% of properties listed in the Lower Mainland we arrive at an average sale price of ~$597,000. Such a property ($597,000) would today require household income of ~$108,000 using a 5.8% down payment ($34,700) to qualify for purchase.