Terra Nova homes for sale

What does a home cost in Terra Nova?

Terra Nova has 10 active MLS® listings. The median asking price is $2.02M, with homes listed from $988K to $2.68M. That is about 98% above the Richmond median of $1.02M. Figures reflect current asking prices on active listings, refreshed hourly, not sold prices.

What types of homes are for sale in Terra Nova?

Detached listings make up 70% of what is for sale in Terra Nova (7 of 10 listings), with a median asking price of $2.17M. Townhouse listings are next at 20%, typically asking $1.32M.

How does Terra Nova compare to other areas?

For context across the region: Whalley (median $549K), Willoughby Heights (median $837K), Abbotsford West (median $700K). Terra Nova carries the highest median asking price of this group. Comparing a few adjacent areas is often the fastest way to see whether a listing is priced with its street or against it.

What kind of homes are in Terra Nova?

Terra Nova is a detached-house neighbourhood. 70% of the homes on the market are single-family houses on their own lot, so the supply is set by how many owners decide to sell in a given season.

The next largest group is townhouses, at 20% of what is listed.

The stock is of one era: the typical home for sale was built in 1998, and nearly all of it went up between 1993 and 2006.

What do you actually get for the money?

90% of the homes for sale have four or more bedrooms, with the 5-bedroom plan the most common of all. Family-sized space is the norm rather than the premium option.

A typical listing here offers about 2,849 sq ft of living space and 4 bathrooms.

Where a lot is reported, the median is 5,490 sq ft, which is what sets the ceiling on additions, laneway homes and future redevelopment.

Enclosed parking is standard: 100% of listings include a garage.

Strata or freehold?

30% of the active listings are strata-titled and the rest are freehold, so the ownership question is a live one in Terra Nova rather than settled by the neighbourhood.

Getting around Terra Nova

There is no rapid-transit station in Terra Nova, but 40% of the listings are within reach of a frequent bus route.

Across 8 scored listings the median walk score is 59 out of 100, computed from real walking routes. Day-to-day errands here usually involve a drive or a bus.

Cycling scores better than walking in a lot of the city, and it does here too: the median bike score across scored listings is 84.