East Van Detached Houses: Market Update for January 2014

11.01.2014

The Vancouver East Detached House Market

Vancouver East Detached Homes are the hottest market in Vancouver Real Estate. This sentiment is supported by these statistics and the continued interest we’re seeing the market – sales doubled over this time last year while prices increased. The biggest challenge for us is finding our clients what they’re looking for, and getting it for a good price given some of the competition out there. Buyers, remember to keep an open mind – renovations can go a long way for East Vancouver Homes; location is still a big factor in pricing. Anything within a few blocks of Main St is still the most popular area, with Grandview, Hastings, and Fraser not far behind. Detached Homes in East Van saw an increase in their assessed values released last week, with almost all of the product selling between $700,000 and $1,750,000.

Newsletter_Graphs_Dec2013_Houses_VE

Recent East Van Detached House Sales

One of the cheapest houses sold in East Van in December was a 2 bedroom, 1 bathroom, 1,411 sqft home a few blocks from Commercial Drive and Hastings St. The home is well cared for, but still in need of some repairs. This home sits on a half size 24′ x 66′ lot. Listed for $524,900, it sold 6 days later for $625,000.

One of the most expensive homes sold in East Van in December was a 4100 sqft Executive Style home sitting on a 47′ x 127′ corner lot. This 2009-built home near Renfrew and 1st Ave has designer touches, high end materials and a basement that can be converted to a rental suite. It was listed for $1,848,000 and sold 49 days later for $1,738,000.

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