East Van Townhomes and Half Duplexes: Market Update for January 2014

11.01.2014

The East Vancouver Townhome and 1/2 Duplex Market

In the Vancouver East Townhome and 1/2 Duplex Market, we’re seeing only slight increases in prices over last month, with the median at $761,000 and the average at $930,000, indicating a number of homes listed under $760,000 with a few high end homes increasing the average. Notably, there are almost twice the sales as this time last year. Aiding this increase in interest and sales is the fact that Developers are favouring East Van to build Multi Family Townhome Complexes. BC Assessments were released last week and townhomes and 1/2 Duplexes in East Vancouver saw an overall rise in Assessed Property Value, supporting the stability we’re seeing in the market. Expect this market to continue seeing interest in the next year as families living in two bedrooms condos look to move up, we’re just hoping there will be enough good product out there. We currently have a new listing at 3335 Windsor: 2011-built 3 bedroom townhome, across from Charles Dickens School in Fraser, on the market for $775,000. The first weekend of open houses was one of our busiest in months, with continued interest ever since.

Newsletter_Graphs_Dec2013_Townhomes_VE

Recent East Van Townhome and 1/2 Duplex Sales

One of the least expensive townhomes sold is in pre-construction: the Skala Building at East 16th ad St George. This 1 bedroom townhome is part of a 20 unit complex that will be completed in 2015. The complex will be designed with a West Coast modern architecture style. Parking and storage are not included in the price. Listed for $299,900, this unit sold 16 days later for full asking price.

One of the most expensive half duplexes that sold in East Van in December was on Glen at East 12th Ave. This 3 bedroom, 3.5 bathroom home has 1540 sqft on a bright, corner lot. The home was built in 2013 with all the modern amenities a family needs, including a detached garage, south facing yard, radiant heat and private decks. This unit was listed for $925,000 and sold one week later for $915,000.

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