The gap between the most and least expensive apartments in North Vancouver is nearly $1,000 dollars per square foot, according to a report by Roomvu Marketing, a Vancouver-based real estate analytics company.
The report also shows that the 15 least expensive apartments per square foot are found in buildings that are 45 years old on average; whereas the buildings with the most expensive apartments were, on average, only seven years old.
The team at Roomvu looked at sales data from all units sold between January and September in the City of North Vancouver and compiled a list of the 15 most and least expensive units per square foot on average. Sam Merhbod, CEO of Roomvu and a researcher, says that while the findings are stark, it should be noted that they are only averages.
“We looked at the average price for each building featured in the report, but there could be dramatic differences in price within an individual building,” said Merhbod. “The floor number where the unit is located and the quality of renovations made in a specific unit will have a noticeable impact on the price per square foot.”