By Zoocasa on April 12, 2024
Estimated reading time: 6 minutes

Where to Buy Real Estate in Canada 2024: Metro Vancouver

By Zoocasa on April 12, 2024
Estimated reading time: 6 minutes

These are the neighbourhoods offering the greatest value to home buyers around Vancouver, from North Vancouver to Burnaby and Coquitlam.

An aerial view of the Vancouver, B.C. skyline

Photo by Rikki / Julius Reque from Flickr / CC BY-NC-SA 2.0

Table of contents: Best places to buy in Metro Vancouver (tap to open)

Methodology

How to read the results tables

The tables includes all the neighbourhoods in each region of Metro Vancouver.

Benchmark price 2023: An average of the composite benchmark price throughout 2023. It represents all property types, including attached and detached homes, townhouses/row units and apartment units.
1-year, 3-year and 5-year growth: The percentage increase or decrease in the composite benchmark price (all property types) over each time frame.
Value, economics and accessibility: These neighbourhood characteristics are each scored on a scale of 0 to 5, with 5 representing the most value for your money, high levels of income and education, and ease of travel by foot, bike and public transit.
Children: The neighbourhood’s percentage of households with kids.

North Shore, B.C.

North Shore is one of the priciest real estate markets in the country, with benchmark home prices in some neighbourhoods as high as $4 million. It is made up of North Vancouver, West Vancouver and the surrounding communities, and it is known for its outdoor recreational activities, including skiing, mountain biking and hiking.

Best places to buy real estate in North Shore

In the table below, you’ll find the top neighbourhoods for real estate purchases in North Vancouver and West Vancouver. To view all the data, slide the columns right or left using your fingers or mouse. You can download the data to your device in Excel, CSV and PDF formats.

wdt_ID	Rank	Neighbourhood	City	Benchmark price 2023	1-year growth	3-year	5-year	Value	Economics	Accessibility	Children (%)
1	1	Panorama Village	West Vancouver	$1,544,275	7%	26%	9%	5.0	3.5	0.8	49%
2	2	Lions Bay	West Vancouver	$1,912,142	-9%	29%	36%	3.5	5.0	0.5	45%
3	3	Horseshoe Bay	West Vancouver	$1,997,933	-8%	23%	24%	3.1	5.0	0.5	45%
4	4	Eagle Harbour	West Vancouver	$2,261,467	-6%	22%	16%	2.9	5.0	0.5	45%
5	5	Deep Cove	North Vancouver	$2,210,900	-4%	32%	38%	3.9	3.7	2.3	30%
6	6	Upper Lonsdale	North Vancouver	$1,745,542	-0%	31%	21%	4.4	3.0	1.3	49%
7	7	Seymour	North Vancouver	$1,575,967	-3%	32%	34%	4.5	2.8	0.7	49%
8	8	Tempe	North Vancouver	$1,973,383	-2%	31%	22%	4.1	3.0	2.5	49%
9	9	Caulfeild	West Vancouver	$2,996,033	-7%	20%	8%	2.0	5.0	0.5	45%
10	10	Upper Caulfeild	West Vancouver	$2,935,367	-8%	17%	7%	1.8	5.0	0.5	45%

Source: Zoocasa

Top three neighbourhoods in North Shore

1. Panorama Village, West Vancouver

Panorama Village stands out for its extraordinary architecture, its iconic views and the renowned Capilano Golf and Country Club—a beacon among B.C. golf courses. Homes in the area had a 2023 benchmark price of $1,544,275, showcasing notable price growth in recent years. The benchmark price was 7% higher than in 2022, 26% higher than in 2020, and 9% higher than in 2018. Panorama Village is one of only two neighbourhoods in North Shore to have a perfect value score of 5.0, along with Lower Lonsdale in North Vancouver.

Panorama Village real estate is dominated by expansive single-family homes emphasizing luxury living—many are renowned for their multi-terraced views and top-tier contemporary features. The vicinity boasts picturesque outdoor spaces, including Cypress Provincial Park, a venue for the 2010 Winter Olympics. The area is also home to outstanding private educational institutions, like Collingwood’s Morven campus and Mulgrave School (an international non-denominational prep school), which cater to the 49% of households with children. However, the area holds a low accessibility score of 0.8.

View Panorama Village real estate listings on Zoocasa.

2. Lions Bay, West Vancouver

Located between Vancouver and Squamish, Lions Bay graces the shores of Howe Sound, offering a tranquil haven with its small population of just over 1,000 residents. This quaint seaside village is an ideal setting for raising children or embracing a serene lifestyle away from the urban hustle. In 2023, Lions Bay’s benchmark home price was $1,912,142, reflecting a nuanced pricing trend over recent years. The benchmark price was 29% higher than in 2020 and 36% higher than in 2018, but 9% lower than in 2022. Lions Bay doesn’t score as highly on value, with a score of 3.5. However, it is pushed to the top thanks in part to its high economics score of 5.0, which indicates high levels of household income and education, and a high percentage of home ownership.

Enveloped by mountains, waterfront panoramas, sandy beaches and scenic hiking trails, Lions Bay captivates outdoor enthusiasts with its natural splendour. Nearby golf courses, a cozy café, an art gallery and boutiques add to its charm. Residents also enjoy the amenities and retail options of neighbouring West Vancouver. However, akin to many North Shore locales, getting around without a car remains a challenge, reflected in Lions Bay’s low accessibility score, 0.5.

View Lions Bay real estate listings on Zoocasa.

3. Horseshoe Bay, West Vancouver

Nestled in the heart of West Vancouver, Horseshoe Bay is a picturesque coastal village renowned for its B.C. Ferries terminal. Beyond its transportation hubs, this idyllic locale, positioned at the beginning of the Sea-to-Sky highway, offers a splendid living experience with breathtaking vistas and convenient access to B.C.’s natural wonders. In 2023, the benchmark home price was $1,997,933, which was 23% higher than in 2020 and 24% higher than in 2018, but 8% lower than in 2022.

With a value score of 3.1 and a perfect neighbourhood economics score of 5.0, Horseshoe Bay is an excellent real estate investment opportunity. Residents relish their proximity to the water for boating, as well as the plethora of local parks, including Whytecliff Park and the nearby Lighthouse Park. Furthermore, easy accessibility to Cypress Mountain caters to skiing and snowboarding enthusiasts in the winter, and hikers in the summer. The area also boasts numerous top-notch elementary, middle and high schools. However, like our other top neighbourhoods, Horseshoe Bay has a low accessibility score, at just 0.5.

View Horseshoe Bay real estate listings on Zoocasa.

What’s happened in the North Shore real estate market?

With few listings on the market, North Vancouver’s benchmark home price stayed elevated for much of 2023. Between January and December, it rose about 7%, from $1,279,400 to $1,364,800. Home prices in West Vancouver, however, did not see the same growth. The benchmark price was $2,538,200 in January and dropped by 0.5% to $2,525,100 by the end of the year.

“A notable trend in 2023 was that we saw a bunch of buyers adopting a wait-and-see approach,” says Geoff Pershick, a local eXp real estate agent based in North Vancouver. (Zoocasa, the author of this study, is wholly owned by eXp World Holdings.) “Nobody knew how interest rates would affect the market, and that created uncertainty. Naturally, buyers were hesitant about making big moves in an unpredictable environment.”

Though the typical North Shore buyer may not have been financially impacted by rising mortgage costs, a lack of buyer confidence still muted market activity for much of the year. Despite that, both North Vancouver and West Vancouver sales were up year-over-year in December.

What’s next for real estate in North Shore?

If interest rates fall as expected and buyer confidence returns, expect North Shore buyers to be more active than in 2023.

“Demand is picking up. There’s a lot of built-up interest from buyers who postponed decisions last year and are now ready to jump in as the market improves,” says Pershick.

Year-over-year price comparisons show North Vancouver is off to a stronger start than last year. In February, North Vancouver’s benchmark home price was $1,370,000—about a 5% increase from February 2023. New listings were also up year-over-year in North Vancouver in February, further indicating the North Shore market is rebounding from a slow 2023.

Pershick says this year is shaping up to be more positive thanks to the stability brought on by two consecutive Bank of Canada interest rate holds. “This is providing a sense of confidence to buyers and sellers and is expected to drive sales in 2024.”

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The Tri-Cities: Coquitlam, Port Coquitlam and Port Moody, B.C.

The area comprising Coquitlam, Port Coquitlam and Port Moody, also known as the Tri-Cities, is one of the fastest-growing communities in Metro Vancouver. Young families and newcomers are attracted to the Tri-Cities area for its small-town feel, with the added benefit of being just a 40-minute drive from downtown Vancouver.

Best places to buy real estate in the Tri-Cities

In the table below, you’ll find the top neighbourhoods for real estate purchases in Coquitlam, Port Coquitlam and Port Moody. To view all the data, slide the columns right or left using your fingers or mouse. You can download the data to your device in Excel, CSV and PDF formats.

wdt_ID	Rank	Neighbourhood	City	Benchmark price 2023	1-year growth	3-year	5-year	Value	Economics	Accessibility	Children (%)
1	1	Moody Centre	Port Moody	$859,342	-3%	-3%	29%	5.0	4.8	0.7	47%
2	2	Eagle Ridge	Coquitlam	$1,012,192	-3%	-3%	44%	4.4	5.0	1.0	60%
3	3	Westwood Plateau	Coquitlam	$1,248,975	-1%	-1%	34%	4.2	5.0	1.0	60%
4	4	College Park	Port Moody	$1,068,300	-3%	-3%	39%	4.4	4.8	0.7	47%
5	5	Heritage Woods	Port Moody	$1,571,992	0%	0%	35%	3.6	4.8	0.7	47%
6	6	Mary Hill	Port Coquitlam	$1,269,009	-2%	-2%	46%	4.2	2.9	4.1	47%
7	7	Oxford Heights	Port Coquitlam	$1,370,858	-1%	-1%	44%	4.1	0.9	1.0	46%
8	8	Birchland Manor	Port Coquitlam	$1,316,242	-2%	-2%	45%	4.1	0.9	1.0	46%
9	9	Heritage Mountain	Port Moody	$1,543,900	-4%	-4%	33%	0.0	4.8	0.7	47%
10	10	Ranch Park	Coquitlam	$1,472,300	-4%	-4%	35%	0.9	2.9	4.1	47%

Source: Zoocasa

Top three neighbourhoods in the Tri-Cities

1. Moody Centre, Port Moody

Moody Centre has undergone a significant transformation in recent years, evolving into a mixed-use, high-density development adjacent to the Moody Centre SkyTrain and West Coast Express station. In its previous state, the area was characterized by low-density industrial and commercial structures. The housing options now include condos, along with rental homes, townhomes and single-family residences. In 2023, the benchmark home price was $859,342, which was 3% lower than in 2022 and in 2020, but notably 29% higher than in 2018. The area boasts a value score of 5.0, and its neighbourhood economics score is an impressive 4.8, indicating high levels of household income and educational attainment, and a high percentage of home ownership.

Being a high-density development, Moody Centre features a variety of stores, restaurants, offices and other businesses catering to residents’ needs. Its proximity to local post-secondary institutions makes it a sought-after student rental location. Locals appreciate the neighbourhood for its parks and urban plaza, which serve as venues for various community events. Approximately 47% of households in the neighbourhood have children. Despite these positive aspects, Moody Centre is tied with a handful of other neighbourhoods for having the worst accessibility score in the Tri-Cities, with a score of 0.7.

View Moody Centre real estate listings on Zoocasa.

2. Eagle Ridge, Coquitlam

Bordering Port Moody, Eagle Ridge is a diverse area featuring a mix of condos, detached homes and townhomes. The neighbourhood is characterized by tranquil residential streets and a few busier thoroughfares providing access to main bus routes. The 2023 benchmark home price in Eagle Ridge reached $1,012,192. Over the past few years, home prices have fluctuated. The benchmark price was 3% lower than in 2022 and 2020, but a substantial 44% higher than in 2018. This translates to a value score of 4.4.

Eagle Ridge has several popular hiking trails for outdoor enthusiasts, including Coquitlam Crunch, a challenging trek that’s often compared to Vancouver’s famous Grouse Grind. The area also has many convenient amenities to choose from, including a long list of restaurants, shopping centres and fitness centres. Sixty percent of Eagle Ridge households have kids—that’s one of the highest percentages, by a wide margin. These families have access to elementary, middle and secondary schools, including private schools. Residents typically use the Inlet Station and Lafarge-Douglas College Station SkyTrain stops to easily travel across Metro Vancouver. Eagle Ridge has an accessibility score of 1.0.

View Eagle Ridge real estate listings on Zoocasa.

3. Westwood Plateau, Coquitlam

Nestled in the upscale enclave of Northern Coquitlam, Westwood Plateau is esteemed for its tranquility and convenient access to all of the Tri-Cities. The property mix includes condos, townhomes and detached homes, many of which are situated on gently sloping terrain. Westwood Plateau had a 2023 benchmark home price of $1,248,975—which was 1% lower than in 2022 and in 2020, and 34% higher than in 2018. These dynamics contribute to a value score of 4.2. And like Eagle Ridge, Westwood Plateau has a perfect neighbourhood economics score of 5.0.

Residents frequent the Coquitlam Centre for their shopping, dining and grocery needs. For those seeking a walking challenge, Westwood Plateau offers a range of hiking trails, catering to all skill levels. The area is home to four elementary schools, one middle school and two high schools, meeting the educational needs of the above-average 60% of households with children. Private schooling options are also available, such as Our Lady of Assumption and British Columbia Christian Academy. Commuters can easily take the bus from Westwood Plateau to Coquitlam Station, Port Moody and Port Coquitlam. Additionally, buses along Pinetree Way link with the Lafarge Lake-Douglas SkyTrain station, providing access to New Westminster, Burnaby, Richmond and Vancouver.

View Westwood Plateau real estate listings on Zoocasa.

What happened in the Tri-Cities real estate market?

The Coquitlam, Port Coquitlam and Port Moody real estate markets had a comparatively strong year in 2023, with all three cities experiencing modest price gains. Of the three, Coquitlam’s benchmark home price increased the most from January to December, rising by about 5% to $1,095,400. Port Coquitlam’s and Port Moody’s benchmark home prices rose by about 4% and 3%, respectively, from the beginning to the end of 2023.

“The Tri-Cities have experienced a surge in detached home prices, reflecting a shift in demand towards these outlier areas,” says Pershick. “Even with high borrowing costs, motivated buyers were still active in the market.”

While detached homes were the preferred property type last year, condo apartments also received a fair amount of interest from buyers, especially as interest rates increased and affordability became a bigger priority. Port Moody finished the year with a 24% increase in total condo sales from 2022, whereas Coquitlam and Port Coquitlam experienced a year-over-year drop in condo sales.

What’s next for real estate in the Tri-Cities?

At the start of 2024, the number of Tri-Cities real estate listings dwindled as more buyers re-entered the market. In February, the sales-to-new-listings ratio for Port Coquitlam detached homes was at 32%, indicating a seller’s market. Conditions in Port Moody and Coquitlam were still balanced, but they were tightening.

“With supply likely to remain low in the Tri-Cities, competition will be tight, particularly as interest rates begin to fall,” says Pershick. “This will keep prices elevated and fuel a seller’s market for much of 2024.”

Between December and January, the benchmark home prices in Port Coquitlam and Coquitlam increased by about 3% and 2%, respectively. In Port Moody, the benchmark home price dipped by about 1%, but home prices will likely climb as the spring market kicks off.

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Burnaby, New Westminster and Richmond, B.C.

The city of Vancouver is bordered by Richmond to the south, and by Burnaby and New Westminster to the east. Burnaby and Richmond are B.C.’s third- and fourth-largest cities, respectively, each with a population above 200,000.

Best places to buy real estate in Burnaby, New Westminster and Richmond

In the table below, you’ll find the top neighbourhoods for real estate purchases in Burnaby, New Westminster and Richmond. To view all the data, slide the columns right or left using your fingers or mouse. You can download the data to your device in Excel, CSV and PDF formats.

wdt_ID	Rank	Neighbourhood	City	Benchmark price 2023	1-year growth	3-year	5-year	Value	Economics	Accessibility	Children (%)
1	1	Hamilton	Richmond	$947,750	3%	37%	22%	4.6	2.5	0.3	57%
2	2	Steveston	Richmond	$1,529,183	-1%	28%	17%	2.0	5.0	3.1	49%
3	3	Brentwood Park	Burnaby	$881,425	-1%	18%	11%	3.2	3.1	3.0	35%
4	4	Glenbrooke North	New Westminster	$991,125	-1%	34%	26%	3.4	2.5	0.5	31%
5	5	Sapperton	New Westminster	$742,083	-3%	26%	26%	3.4	2.5	0.5	31%
6	6	Uptown	New Westminster	$617,308	2%	32%	29%	5.0	0.6	4.5	29%
7	7	West Cambie	Richmond	$930,858	3%	28%	18%	4.4	1.2	4.8	40%
8	8	Willingdon Heights	Burnaby	$1,396,125	-1%	25%	23%	2.4	3.1	3.0	35%
9	9	Westridge	Burnaby	$1,680,042	1%	42%	43%	3.0	2.5	2.5	43%
10	10	Edmonds	Burnaby	$903,950	-1%	22%	19%	3.3	2.1	3.4	44%

Source: Zoocasa

Top three neighbourhoods in Burnaby, New Westminster and Richmond

1. Hamilton, Richmond

Situated in Richmond, Hamilton is just north of Annacis Island and the Annacis Channel, and west of Queensborough. Hamilton’s 2023 benchmark home price was $947,750 as a result of a consistent and stable increase in property values. The benchmark was 3% higher than in 2022, 37% higher than in 2020, and 22% higher than in 2018. This trend contributes to Hamilton’s impressive value score of 4.6.

Hamilton is a distinctive neighbourhood with a blend of residential properties, predominantly single-family homes, alongside businesses and recreational facilities. It offers various amenities such as the Hamilton Community Centre, Hamilton Highway Off-Leash Dog Park, and the Bridges Marina. The neighbourhood boasts several parks, including the well-kept and popular Hamilton Community Park. Locals appreciate the trails that lead to the waterfront, a popular spot for dogs to take a swim. Hamilton has the highest percentage of households with children (57%) in this part of Metro Vancouver, by a significant margin. Families can send their kids to Hamilton Elementary School, the Choice School for Gifted Children, or Queen Elizabeth Elementary School. However, Hamilton has the third-worst accessibility score among the three cities, at 0.3.

View Hamilton real estate listings on Zoocasa.

2. Steveston, Richmond

In the southwest corner of Richmond lies the historic community of Steveston, where the powerful Fraser River meets the Pacific Ocean. Steveston is bordered by Williams Road to the north, the Fraser River to the south, No 2 Road to the east, and the Strait of Georgia to the west. The neighbourhood’s 2023 benchmark home price was $1,529,183, considerably higher than those of surrounding neighbourhoods. Home prices in Steveston Village have been on a slight upward trajectory. The benchmark home price was 1% lower than in 2022, but 28% higher than in 2020 and 17% higher than in 2018. As a result, Steveston has a modest value score of 2.0. However, it has by far the highest neighbourhood economics score in the region (5.0), which helped push it to the top.

So, what brings buyers to this neighbourhood? Following the closure of the fish canneries, significant residential development has transformed the area, with the emergence of new luxurious condominiums and townhomes reshaping the landscape. Residents benefit from outstanding local dining options, unique boutiques, a picturesque boardwalk that is popular among both tourists and locals, beach access, parks, playgrounds and biking trails—all enhancing Steveston’s charm. While primarily residential, Steveston has several parks near schools like Diefenbaker and James McKinney Elementary, along with the expansive Manoah Steves Neighbourhood School Park, which features four sports fields, three ball diamonds and a playground. The neighbourhood has one of the highest concentrations of households with children (49%).

View Steveston Village real estate listings on Zoocasa.

3. Brentwood Park, Burnaby

Nestled in North Burnaby, the Brentwood Park neighbourhood has traditionally offered a balanced mix of affordable single-family detached homes and condominiums. With The Amazing Brentwood housing spectacular developments, Brentwood Park is poised to become one of the largest urban destinations in North America. In 2023, the neighbourhood’s benchmark home price stood at $881,425. Home prices in Brentwood Park haven’t risen as rapidly as those in other neighbourhoods on our list. The 2023 benchmark price was 1% lower than in 2022, 18% higher than in 2020, and 11% higher than in 2018. This translates to a value score of 3.2. But Brentwood Park has one of the highest neighbourhood economics scores, 3.1, in this part of Metro Vancouver, behind only Steveston.

The neighbourhood boasts stunning views of Burnaby Mountain and the North Shore Mountains. Beecher Park offers forested areas, a sports field, a children’s playground and Beecher Creek, a local salmon spawning habitat connecting to Still Creek. Eileen Dailly Leisure Pool & Fitness Centre is well known for its swimming pool, children’s water play area, sauna and steam room, weight room, and more. The area is also home to the McGill Branch of the Burnaby Public Library. Public schools in Brentwood include Brentwood Park Elementary, for kindergarten to grade seven, and Alpha Secondary School, which offers an advanced placement program allowing students to take college-level courses while still in high school.

View Brentwood Park real estate listings on Zoocasa.

What happened in the real estate markets of Burnaby, New Westminster and Richmond?

Real estate activity was stable in all three cities last year, and there was much less fervour compared to previous years. Home prices experienced modest price growth from January to December 2023, though this was due more to tight competition than increased demand.

Burnaby East experienced the most price growth, with the benchmark price rising about 7% from January to December. But the area is also the most expensive, with a December benchmark price of $1,157,400. New Westminster had the most affordable homes, with a benchmark home price of $815,600 in December, up about 4% from the beginning of the year. In Richmond, the benchmark home price rose from $1,109,200 in January to $1,153,400 in December—an increase of about 4%.

“Interest rates played a pivotal role in shaping affordability [in these areas], and there was a noticeable withdrawal from the market among potential buyers,” says Pershick. For the three cities combined, total home sales across all property types in 2023 came in below 2022 levels.

What’s next for real estate in Burnaby, New Westminster and Richmond?

Between December 2023 and February 2024, benchmark home prices in all three cities inched upward, suggesting a stronger start to the year than in 2023. Of the three, Richmond’s benchmark price increased the most, rising about 2% to $1,173,100 in February. Burnaby South has also experienced a decent increase, with the benchmark price rising by about 2% to $1,113,500 over the same period.

As of February, year-to-date sales for detached properties in Burnaby and Richmond are up compared to 2023. However, it’s Burnaby condo apartments that have gotten the most attention, with year-to-date sales up by about 19%.

Despite demand for condos continuing to grow, new listings have built up a bit. The sales-to-new-listings ratio for condo apartments in all three cities rose month-over-month from January to February, reaching balanced conditions—when the number of new listings is enough to satisfy demand. Still, it may not be enough to keep up with increased demand from the region’s growing population, according to Pershick. “Burnaby has seen a lot of development in recent years, yet across Vancouver and surrounding cities, low inventory is a central concern.”

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Pitt Meadows and Maple Ridge, B.C.

The suburban communities of Maple Ridge and Pitt Meadows are located in the northeastern part of Metro Vancouver. They offer more affordable real estate prices, making them particularly attractive for first-time buyers.

Best places to buy real estate in Pitt Meadows and Maple Ridge

In the table below, you’ll find the top neighbourhoods for real estate purchases in Pitt Meadows and Maple Ridge. To view all the data, slide the columns right or left using your fingers or mouse. You can download the data to your device in Excel, CSV and PDF formats.

wdt_ID	Rank	Neighbourhoods	City	Benchmark price 2023	1-year growth	3-year	5-year	Value	Economics	Accessibility	Children (%)
1	1	Albion	Maple Ridge	$1,134,442	-6%	41%	43%	2.9	5.0	0.7	56%
2	2	Websters Corners	Maple Ridge	$1,376,075	-6%	40%	44%	1.6	5.0	0.7	56%
3	3	Thornhill	Maple Ridge	$1,593,908	-7%	42%	45%	0.6	5.0	0.7	56%
4	4	Silver Valley	Maple Ridge	$1,231,125	-7%	37%	35%	1.3	4.1	1.6	53%
5	5	Whonnock	Maple Ridge	$1,494,550	-9%	41%	38%	0.0	5.0	0.7	56%
6	6	North Meadows	Pitt Meadows	$804,267	-3%	41%	37%	5.0	0.0	3.5	43%
7	7	Central Meadows	Pitt Meadows	$851,717	-5%	41%	38%	4.5	0.0	3.5	43%
8	8	Mid Meadows	Pitt Meadows	$787,642	-6%	33%	33%	3.1	0.0	3.5	43%
9	9	South Meadows	Pitt Meadows	$1,076,608	-6%	32%	34%	1.6	0.0	3.5	43%

Source: Zoocasa

Top three neighbourhoods in Pitt Meadows and Maple Ridge

1. Albion, Maple Ridge

Located in Maple Ridge, Albion sits across from the Fraser River and stretches along 240th Street. One of the oldest settled areas in the region, Albion features a mix of historic homes and newer residences from recent developments. At the end of 2023, its benchmark home price reached $1,134,442, which was 6% lower than in 2022, but 41% higher than in 2020 and 43% higher than in 2018—giving Albion a value score of 2.9. Like the other two top neighbourhoods, Albion has a perfect economics score of 5.0, indicating high levels of household income and educational attainment, and a high percentage of home ownership.

Despite significant development over the last 15 years, Albion maintains its quiet farming-community charm. The area is dotted with heritage buildings and sites such as Jackson Farm House, Kohy Residence and Spencer Farm Milk House. Residents appreciate the natural surroundings of Albion, including forested trails like the Albion Park Loop. The neighbourhood is home to several schools, including two elementary schools and a technical high school. Though it has access to transit, this rural community has an accessibility score of just 0.7.

View Albion real estate listings on Zoocasa.

2. Websters Corners, Maple Ridge

Websters Corners is situated northeast of Albion. At the end of 2023, the neighbourhood’s benchmark home price was $1,376,075, which was 6% lower than in 2022. However, in line with a wider regional trend, the benchmark price was 40% higher than in 2020 and 44% higher than in 2018—contributing to its 1.6 value score.

Websters Corners is known for its quiet streets and predominantly single-family detached homes and townhouses, offering a peaceful atmosphere. With ample parking available, driving is a popular transportation choice. And with limited public transit options, aside from a few bus lines, the neighbourhood has an accessibility score of 0.7. Unfortunately for the 56% of households with children, Websters Corners has primary schools but no high schools.

View Websters Corners real estate listings on Zoocasa.

3. Thornhill, Maple Ridge

Thornhill, a neighbourhood in Maple Ridge, is densely wooded, with a mix of residential homes, farms and nurseries. Situated on the south slope of Grant Hill, Thornhill is part of the historic Whonnock community. At the end of 2023, Thornhill’s benchmark home price was $1,593,908, which was 7% lower than in 2022, 42% higher than in 2020 and 45% higher than in 2018. Though Thornhill has a value score of just 0.6, its 5.0 economics score helped push it to the top.

Renowned for its extensive network of hiking and horseback riding trails near 256 Street, Thornhill provides ample opportunities for residents to enjoy the outdoors year-round. Additionally, the neighbourhood features a hilly and wooded disc golf course with 14 holes, and the popular Thornhill Hall for community events. Known for its friendly residents, Thornhill exudes a small-town charm that appeals to many. Children, who are found within 56% of households, can attend Whonnock Elementary School, the primary educational institution in the area.

View Thornhill real estate listings on Zoocasa.

What happened in the real estate markets of Pitt Meadows and Maple Ridge?

Both cities experienced home price growth of more than 5% from January to December 2023. Pitt Meadows finished the year with a benchmark home price of $884,100—one of the lowest in all of Metro Vancouver—and Maple Ridge’s benchmark home price ended the year at $962,000.

“The shift towards remote work has sparked a migration to the suburbs for work-from-home folks. This has bolstered demand in the surrounding communities of Vancouver, and many working-class people are realizing how their money stretches further there,” says Pershick.

Though the market slowed down after the summer, buyers were encouraged by consecutive Bank of Canada rate holds to re-enter the market at the end of the year. This resulted in the number of detached home sales in Pitt Meadows and Maple Ridge increasing by about 43% from January to December.

What’s next for real estate in Pitt Meadows and Maple Ridge?

Since the start of 2024, Pitt Meadows has seen heightened demand from buyers. From December to February, Pitt Meadows’ benchmark home price increased by about 4%, reaching $923,100; in Maple Ridge, it increased by just 0.7%, ending the month at $986,900.

As buyers regain confidence in the market, home owners are also listing more properties. In February, the number of listings for detached, attached and apartment properties in Pitt Meadows and Maple Ridge was up by more than 60% year-over-year.

“Compared to the North Shore and the city of Vancouver, communities in Maple Ridge, Pitt Meadows and surrounding areas have somewhat more stable inventory numbers,” says Pershick. “Thanks to the affordability of the land, there’s more development going on that’s helping to increase supply.”

Unlike other areas of Metro Vancouver, the real estate markets in Maple Ridge and Pitt Meadows are more balanced. In some cases, they are even favouring buyers.

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