MONEY GLOBE XHow to read a city housing market report
Average price, median, typical value, 12-month windows, sales, months of supply and rents: how to read a city housing page without being misled.
Last checked November 8, 2026. Every rule below names its source; the official pages are listed at the end with their own dates.
In short
- Check which price it is: an average of sales, a median, an index of new homes or a typical value.
- Check the window and the date: a 12-month figure is steadier than one month.
- Look at sales and supply too; a price on its own does not say how busy a market is.
Home prices by cityBC home prices by city and townCanadian cities: rents and vacancyUS metro areasGeorgia home prices by city
1. Which price is it?
| Measure | What it is | Where we use it |
|---|---|---|
| Average price of homes sold | Total value of the sales divided by their number | BC cities and towns (property transfer tax data) |
| Median price | The middle sale: half sold for more, half for less | BC (latest month), Georgia and US |
| New housing price index | Price change of comparable new homes (December 2016 = 100) | 26 Canadian cities (Statistics Canada) |
| Typical home value | Zillow's estimate for homes in the middle third of values | US metros and Georgia cities |
2. The window and the date
Every figure has an as-of date. A 12-month figure ("12 months to August") smooths out a busy or quiet month; a single month moves more. Compare the same window from one year to the next, not one month with a 12-month figure.
3. The mix of homes sold
An average moves with what sold. If more condos sell in a period, the average falls even when no single home lost value; more large houses push it up. That is why our BC pages also show the condo and townhome share.
4. Sales and supply
- Homes sold: more sales than a year ago means a busier market.
- Months of supply: homes for sale divided by homes sold in a month. More months means more choice for buyers.
- Sale price vs asking: above 100% means homes sell over the asking price on average.
- Days to an accepted offer: fewer days means homes sell faster.
5. Small towns
A town with a few dozen sales a year can show big swings from a handful of sales. We label places with fewer than 100 sales in 12 months "Few sales".
6. The reading label
Each city page has a short label, such as "Steady" or "Prices rising". It describes the latest numbers in words, using fixed thresholds; it does not say what prices do next.
Live data: BC average home prices, 12 months to September 2026
| Place | Average price | 1 year | Homes sold | Condos and townhomes | First-time buyers |
|---|---|---|---|---|---|
| Vancouver | C$1,408,413 | -9.1% | 8,767 | 65% | 17% |
| Surrey | C$912,896 | +3.3% | 8,766 | 50% | 20% |
| Burnaby | C$1,005,394 | +0.6% | 4,493 | 74% | 24% |
| Richmond | C$1,019,790 | -4.9% | 3,696 | 67% | 20% |
| Victoria | C$882,483 | +4.4% | 1,465 | 65% | 25% |
| Kelowna | C$881,574 | +8.5% | 3,644 | 48% | 19% |
| Kamloops | C$656,845 | +1.4% | 1,828 | 28% | 31% |
| Nanaimo | C$730,254 | -0.2% | 1,850 | 28% | 26% |
| Prince George | C$474,774 | +4.2% | 1,569 | 12% | 38% |
Source: Province of British Columbia, Property Transfer Tax data (OGL-BC), 12 months to September 2026. Data updated November 08, 2026.
Questions
Is the average price the same as the typical home price?
No. The average is pulled up by a few expensive sales and moves with the mix of homes sold; a median or a typical value is closer to the middle home.
Why did the average price fall when homes did not lose value?
Often because a different mix sold: more condos or smaller homes lower the average.
What does months of supply mean?
How many months it would take to sell the homes for sale at the latest pace of sales.
Why do small towns jump around?
With few sales, a handful of expensive or cheap homes changes the average a lot.
Related guides
Sources
- Province of British Columbia: Property Transfer Tax data (Open Government Licence - British Columbia)
- Statistics Canada and CMHC via Statistics Canada (tables 18-10-0205-01, 34-10-0133, 34-10-0127, 34-10-0154)
- Zillow Research data
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Create a free accountLast checked November 8, 2026. General information only - not financial, legal, tax or real estate advice. Rules change: confirm with the official source or a licensed professional before you act.