Buying and Selling Condos in East Van
Condos in East Van showed a lot of activity last month and last year. This market had a 31% increase in sales to 121 successful transactions, along with slight increases in the average and medians prices. The days on market decreased by 28% to 36 days. Consider that half of the sales were below $369k, this is a market for First Time home Buyers looking for a good 1 bedroom unit. East Van condos is always an interesting market in that it has a large mix of older low rise buildings and newer highrises. Generally, the older buildings will offer bigger units and better floor plans for the same price as a typical one bedroom condo unit in a new building. The big difference is the quality of finishings and and the building amenities. Main, Grandview-Commercial Drive, Fraser, Hastings and Hastings East continue to be the hot spots in the East Vancouver condo market.
One of the least expensive East Van condo sale last month was in Vancouver Heights. This unit has 675 sqft, 1 bedroom, 1 bathroom and a covered balcony. Though the building was built in 1975, the condo unit has some upgrades and the building has recently upgraded the pipes , hallways, lobby and roof. The unit was listed for $199,900 and sold 21 days later for $191,000.
One of the most expensive condos sold in East Van last month was in Koret Lofts, a Live/Work building in Gastown. This 1375 sqft unit has funk details like brick walls, exposed ceilings, concrete floors and an open, almost industrial like layout. The unit was listed for $999,900 and sold 113 days later for $935,000.