East Van Condo Update: March 2015

13.03.2015

What’s Happening in the East Vancouver Condo Market?

The East Van Condo market has been busy this month with a 26% sales to active ratio and double the sales over the previous month, though last year at this time saw more sales. Prices increased 17% over last month to an average price of $407,000 and a median price of $379,000. East Van still has a number of new condo buildings adding inventory to the market, including the Independent, Central, Block 100, Canvas, Midtown, Wohlsein, Paragon, Shine and more, so expect interest in this market to continue, along with steadily increasing prices (1 bedroom units for sale in these new buildings are high $300k to low $400k). With this increase of newer condo buildings, East Van has a wide range of different types of condo buildings – don’t cast aside an older building, they have a lot of great features. East Van still has a number of more affordable neighbourhoods in Hastings East, Collingwood, Fraser and Knight.

Condo Sales in East Vancouver

1903_1618_quebec

One of the most expensive condos sold last month in East Van was this 19th floor unit in the brand new Onni building named “Central” at Quebec and Terminal. This unit is 930sqft with 2 bedrooms, flex space and 2 bathrooms. The unit has pretty incredible views of False Creek, Downtown and the Mountains. The unit comes with 1 parking and 1 storage, and has never been lived in by the owner. The building has great amenities including AC, gym, common rooms and garden. Listed for $899,000, it sold 50 days later for $858,000.

211_774_Great_Northern_Way

One of the least expensive condos sold in East Van last month was this 484sqft studio unit in Pacific Terraces on Great Northern Way (not far from the VCC Skytrain Station). The unit has a renovated, open floor plan with newer kitchen and island, updated bathroom, laminate floors and a north facing patio. The unit includes parking and storage. Listed for $199,900, this unit sold 24 days later for $192,500.

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