East Van Condos: Market Update for December 2013

10.12.2013

East Vancouver Real Estate

The East Van Condo Market has remained steady over last month after a huge increase in activity over last year. Prices have remained steady throughout this increase in interest, with the Average Price of $380,000 and a Median Price of $340,000 ensuring that Vancouver East is one of the most affordable condo markets in Vancouver. A majority of the sales hover around Main Street and the SOMA District in Mount Pleasant East, with the East Village garnering some interest as well. We expect this market to maintain the interest levels it’s seen given the variety of homes available – older & new, reno projects & recently renovated; one of the biggest determining factors is the quality of the building. The neighbourhoods are only getting better and we expect first time Buyers to continue to find their home in East Van.

Rob_Zwick_VE_Condos

East Van Condos For Sale

One of the least expensive East Van Condo sales last month was a 524 sqft 1 bedroom condo a block away from Commercial Drive. The 1981-built building has recently undergone a full upgrade including a new rainscreen system, new windows, new doors and new patios, however the unit still has many of it’s original features. The parking and storage are assigned as common property which isn’t ideal for new buyers (it does not guarantee ownership of the spaces). This East Van condo was listed for $199,900 and sold 19 days later for $200,000.

The most expensive East Van condo sale was the Penthouse unit in V6A off Union and Main. This unit was built with luxury in mind for the Developer – 2100 sqft, 3 levels, 1600 sqft outdoor space, top of the line finishes, integrated home technology and more. This unit was previously listed and did not sell, though it was re-listed for $2,298,000 and sold 15 days later for $2,074,000.

Click to view all East Van 1 Bedroom Condos for Sale and 2 Bedroom Condos for Sale in East Van, or let us know if you’re interested in buying or selling in this market.

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