East Van Condo Market Update for May 2016

10.05.2016

East Vancouver Condos – May 2016

The East Vancouver Condo Market is still very busy, with a 96% sales to active ratio – a number that has almost doubled since January thanks to activity in the newer emerging markets like Champlain Heights, Knight and Hastings.

The total inventory is down slightly over last month, and down further over last year. These are the lowest inventory numbers we’ve seen in the last 10 years. Hopefully we see a few more Sellers list their property for sale in the next few months to bring these numbers up to something a little more normal. The average number of days on market remains at 8 days.

The average price per sqft is at $622/sqft, which has steadily risen over the last few years, and the average sales price if $474k, though the price can vary significantly across different neighbourhoods. The further you get from downtown, the lower prices get, though building construction, age, and other factors that can make or break a property come into play when it comes to price. The average price was at $481k last month and $381k last year.

Prices of Condos in Different East Van Neighbourhoods

Take a look at how the price of 1 bedroom condos compares in various neighbourhoods:

Take a look at how the price of 2 bedroom condos compares in various neighbourhoods:

The hot spots are still Downtown, Mount Pleasant, Fraser, Hastings and Commercial Drive, though Champlain Heights / Fraserview in the River District area has become quite popular for condos and townhouses, for both new sales and re-sales.

View all 1 Bedroom Condos for Sale in East Van

View all 2 Bedroom Condos for Sale in East Van

Given the busy market, you will likely need to come in with a very strong offer in order to be successful in buying a condo. These strong offers need more due diligence than ever, so contact us to ensure that you’re aware of what you’re buying so that not only is the purchase process smooth, but you enjoy living in the building for years to come.

Don’t hesitate to contact us if you have any questions about the market.

[x] close

Login for Full MLS Access

Name*:

Password*:

Email*:

Phone:

Budget: -

Square ft.: -

# of Bedrooms:

# of Bathrooms:

Area:

Key criteria:

Terms of Use

The term Virtual Office Website ("VOW") refers to a Participant's (REALTORS®) Internet website, or a feature of a Participant's Internet website, through which the Participant provides real estate brokerage services to Registrants (clients and prospects) with whom the Participant has first established a relationship where the Registrant has the opportunity to search for MLS® data, subject to the Participant's oversight, supervision and accountability. By agreeing to these "Terms of Use" you:

  1. acknowledge and understand that the Terms of Use do not create an agency relationship and do not impose a financial obligation on the Registrant or create any representation agreement between the Registrant and the Participant;
  2. understand that all data obtained from the VOW is intended only for your personal, non-commercial use;
  3. do have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered through the VOW
  4. agree not to copy, redistribute or retransmit any of the data or information provided;
  5. acknowledge the Board/Association ownership of and the validity of the copyright in the MLS® database.
  6. agree that all information provided may be provided to the relevant Board and may be used to administer and operate the VOW and to investigate any breach of security of the data or the MLS® rules
  7. that a "mouse click" is sufficient acknowledgement and agreement to the terms
  8. must supply a user name and a password, the combination of which must be different from those of all other Registrants on the VOW, before being permitted to search and view information from the MLS® database via the VOW.
  9. must provide a valid email address. The Registrant may be permitted to access the VOW only after the Participant has verified that the email address provided is valid the Registrant's agreement to the VOW's Terms of Use is confirmed.
  10. understand the Participant must at all times maintain a record of the name, telephone number and email address supplied by the Registrant, and the username and current password of each Registrant, such records to be kept for not less than 180 days after the expiration of the validity of the Registrant's password. If the Board/Association has reason to believe that a Participant's VOW has caused or permitted a breach in the security of the data or a violation of MLS® rules related to use by one or more Registrants, the Participant shall, upon request, provide to the Board/Association a copy of the record of the name, email address, telephone number, username, current password, and audit trail, if required, of any Registrant identified by the Board/Association to be suspected of involvement in the violation.
  11. Understand that information on this site is deemed to be valid but is not guaranteed. It is the responsibility of the registrants to confirm all information on their own. Broker may not have reviewed or approved listing enhancements. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  12. Understand any agreement entered into at any time between the Participant and Registrant imposing a financial obligation on the Registrant or creating agency representation of the Registrant by the Participant must be established separately from the Terms of Use, must be prominently labelled and may not be accepted solely by mouse click
  13. have received, read and understand the brochure published by the British Columbia Real Estate Association entitled Working With a REALTOR®

Having agreed to the terms and conditions of use, I would like to have access to this VOW information.

 Terms and Conditions I agree to the Terms and Conditions

[x] close

Login for VOW Access

Remember me

Don't have an account? Register now!