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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