East Vancouver Detached Houses – May 2016
The East Van Detached House market has a sales to active ratio of 42%, which compared to the townhouse and condo market, seems reasonable (though by the numbers, it’s still a strong Seller’s market). The average price for a detached house in East Van was $1.656-million last month, which is up from $1.574-million the previous month and $986k this time last year.
Thankfully, the detached house market has seen a natural increase in inventory over the last few months (as expected) though not quite at the numbers we’ve seen in previous years. Current inventory is at 426, which is 22 more than the previous month, about the sale as September and 70 less than this time last year.
Take a look at the price of detached houses in various areas of East Van:
The hotspots are still Fraser, Hastings East and Main. The most number of sales were in the $1.5-million to $1.75-million range, while the highest number of listings was in the $1.25-million to $1.5-million range.
Sellers: Contact us if you’re interested in selling your property. Proper marketing, presentation of the property and negotiation techniques become very important in a market this busy, and we are your best options. We have the skills and experience to ensure you get the most out of your sale.
Buyers: You need to be knowledgable, prepared and quick to move if you want to be successful in this market. You not only need to be pre-approved, but you need a great mortgage broker and home inspector to ensure you’re ready to compete. Contact us to get started.
Don’t hesitate to contact us if you have any questions about the market.