East Van Houses: August 2014 Update

11.08.2014

Real Estate Activity: East Vancouver Detached Homes

The East Vancouver Detached house market has been the most active market in Vancouver for quite a few months now. With lots of new builds, house flips, reno projects and complete tear downs in various neighbourhoods in East Van, there is a lot of inventory to sort through and a lot of value to determine. Take a look at the numbers – East Van has a 36% sales to active ratio, which means something close to 1 out of every 3 houses listed for sale is sold (a strong market is above 25%). Within the $600k to $1.2-million price range, the average sales to active ratio is just over 50%. Average prices have climbed compared to last year – the average and median price is now in the high-$900k to low $1-million range.

 See all Houses for Sale in East Van

July_2014_Graphs_Page_3

There is a lot to know when buying or selling an East Van house. Between the value from the potential in the lot, to the neighbourhood to the build of the house, you want a professional on your side. Give us a call, we will ensure you’re on top of the market and get into a great house.

Recent East Van House Sales

2716 McGill St

2716_mcgill_eastvan_house_1

 This was one of the cheapest houses sold in East Van last month. It’s a 2 bedroom, 923sqft north facing rancher in Vancouver Heights, with a single car garage. The value is in the land and the potential to build a bigger house. The lot is a standard 33′ x 122′ RS-1 zoned lot. This home was listed for $648,000 and sold a week later for $643,000.

135 East 17th Ave

135_E17_eastvan_house_2

The most expensive house in East Van is West of Mina, at East 17th and Quebec St. This home is architecturally stunning and unlike any other home in the area. The living space is small (when you don’t consider the basement 1 bedroom suite) but there is a lot of great outdoor space and  the best in modern finishings. The home is Energy Star certified, one of only 3 in Vancouver. This home was listed for $2,228,000 and sold almost a month later for $2,110,000.

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