East Van Condo Market Update: September 2014

11.09.2014

The condo market in East Van has a lot of activity – with new developments going up in many different neighbourhoods (especially Mount Pleasant East, Hastings, etc) and lots of good older units for sale. There was a slight drop in average price, but prices have still increased over last year. Many new developments these days are priced on the higher end of the “entry level” price spectrum (closer to $400,000 than $300,000), with the older units in East Van being the most affordable. Price per sqft is slowly growing higher in East Van, with the average now at $494. Keep in mind that the neighbourhood makes up a large difference in price – closer to downtown and the vibrant areas (like Main St and Commercial Drove) and you’ll see more expensive price per sqft numbers.

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 Recent Condo Sales in East Vancouver

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One of the least expensive condos sold in East Van last month was this 1 bedroom, 751sqft condo at McGill and Trinity in Hastings. The location is close to the PNE and only a few blocks to “The East Village” This 1974-built condo was in original condition, but has lots of opportunity for a great renovation. The unit does not have insuite laundry, but comes with parking and storage. It was listed for $219,900 and sold 6 days later for $215,900.

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One of the most expensive condos sold in East Van last month was this Penthouse unit in the new development called Opsal, at Quebec and East 2nd. This 25th floor unit boasts 1100sqft, with lots of southwest facing outdoor space including an outdoor kitchen and an outdoor hot tub. This unit comes with 2 parking spots and a storage locker. It was listed for $1.2-million and sold 84 days later for $1.1-million.

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