East Van Condo Market Update: April 2014

14.04.2014

The East Van condo market saw a big drop in sales over last month, amidst an increase in average and median prices to $401,078 and $351,000 respectively. Overall, every market in Vancouver East performed well last month with at least 21% sales to active ratio. The average price is increasing, though that has more to do with better options in higher price brackets thanks. There was a slight increase in inventory last month, and expect the interest level from Buyer’s to continue, and even increase, through the Spring.

Vancouver_Graphs_Real_Estate_March_2014_East_Van_Condos

Recent Condo Sales in East Vancouver

The least expensive East Van condo that sold was in Hastings East, or The East Village. This area of town has some great, affordable options, and the amenities in the area are only getting better. This 576 sqft unit has 1 bedroom and bathroom, parking, storage, and modern updates to the kitchen and bathroom. The building is owner-occupied and has been well maintained with newer roof, plumbing, balconies, boiler and siding. Laundry can be installed with strata permission. The unit was listed for $218,000 and sold 7 days later for $212,000.

The most expensive condo sale in East Van was at Meccanica at 108 East 1st Ave. This 16th floor penthouse listing has 1,574sqft, 2 bedrooms, 2 bathrooms, air conditioning, and a northwest exposure. This unit has a large 1300 sqft rooftop patio with hot tub, outdoor kitchen and built in BBQ. The building is currently in the final stages of being built, with occupancy expected for this Summer. It was listed for $1,499,900 and sold for full asking price 3 days later (though it was available to the public since the building offered pre-sales).

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