The townhome & half duplex market in East Van is growing – both in interest and number of listings. We saw a 10% increase in listings over last month (and a 120% increase in listings over last year), and though the number of sales remained the same, I expect that number to increase in October. Sale prices jumped by $40k in Median Price and by $75k in Average price over last month thanks to better inventory and motivated Buyers. With 3 bedrooms, a majority of the Buyers are those with young families.
There are a number of new townhome & half duplex developments planned in East Van for the next year or two, and with prices stabilizing in Vancouver Real Estate, expect this market to remain fairly consistent.
The most expensive townhome sale in East Van was a townhome in City Gate (1128 Quebec St) near Science World. Listed for $1,099,000 and sold after 10 days for $1,040,000, this townhome has 2 bedrooms, 2.5 bathrooms, 3 levels and a roof top deck. It was completely renovated in 2013, and has recently rented for $6000/month.
The least expensive townhome sale in East Van was in the Renfrew district of East Van, at 2433 E 10th (at Nanaimo). Listed for $223k and sold 4 days later for $219k, this 953 sqft 2 bed, 2 bath home has in suite laundry, parking and original (1995) features. With a price this low, I’d be quite weary of the building.
Considering that the townhome market it quite busy right now, give us a call if you see one you like online – it might not be available for much longer.