Vancouver real estate: end of West Coast Express line offers options of detached homes starting at $500,000

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      Many people who make a living in Vancouver cannot afford to buy a detached home in the city.

      They commute to the suburbs, where freestanding houses cost less.

      But even Surrey, a popular choice for those fleeing Vancouver, has seen increases in the price of detached homes.

      In July 2020, the average price rose to at least $1.2 million, according to a report by the Fraser Valley Real Estate Board (FVREB).

      For people working in Vancouver and who are determined not to give up the dream of a single family home, there is hope.

      This can be found at the end of the line of the West Coast Express.

      From Downtown Vancouver, the 69-kilometre line runs to Mission, where detached homes can start at $500,000.

      One-way travel from end to end of West Coast Express takes about an hour and 15 minutes.

      The line operates Monday to Friday.

      Over the last 15 days, from August 8 to mid-morning of Sunday (August 23), eight homes were sold in Mission.

      Of the eight transactions tracked by fisherly.com, six were single family homes.

      One of these was 8707 Mclean Street, a three-bedroom house on a quarter-acre property.

      Lighthouse Realty Ltd. sold the house for $502,000 after four days on the market.

      The same realty agency sold another detached home at 7431 James Street.

      The five-bedroom home sold for $595,238.

      The 7431 James Street property is within walking distance to the Mission City Station of West Coast Express.

      This 7431 James Street house sold for $595,238, and is within walking distance of the West Coast Express station.

      Two of the four remaining detached homes sold for less than $1 million. The two others went over that amount, based on fisherly.com records as of this posting.

      The FVREB report indicates that 76 single family homes were bought in Mission in July 2020.

      The number represents a 76.7 percent increase from June 2020 transactions, and a 55.1 percent rise compared to July 2019.

      The median price of a detached home in Mission reached $746,200 in July 2020, an 8.9 percent increase compared to June this year.

      The median price in July represents a 20.4 percent increase over the same month in 2019.

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