East Van Condo Market Update: March 2014

07.03.2014

What’s Happening in the East Van Condo Market?

Condos in Vancouver East saw a lot of action last month! Total sales were 135, which is more than double the previous month. Prices remained steady in the low to mid $300,000 range with the average price per sqft landing at $512. The average sales-to-active ratio for Vancouver East Condos was over 30%, a Seller’s Market, with the most affordable sub $370,000 market seeing the most activity. This is great news for the market – more buyers entering the market allows those Sellers to buy their next property, which allows those Sellers to buy their next property and so on. This type of activity keeps the market strong.

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The most expensive sale was the sub-penthouse in Ginger at 718 Main ST (and Union). This 2 bed, 2 bath, 1143 sqft home has an 870sqft patio offering incredible views of the city & mountains. The unit came with one parking spot. Listed for $799,000 and sold 6 days later for $778,000.

The least expensive condo sale was a 652sqft, 1 bedroom, 1 bathroom unit at Commercial Drive and Adanac. The unit has some renovations, and offered parking and storage. Listed for $219,000, it sold 6 days later for $215,000.

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