East Vancouver Townhouse Market Update – November 2016
Like the condo market, the townhouse market has been pretty resilient through the changes in the market. Total inventory and sales are the same as last month, but average price, currently at $836k, is down about 8% and median price is down about 10%. Keep in mind, with only 19 sales to determine average price, an outlier sale can have a big effect on the average price that doesn’t indicate that prices are dropping (note that the average price in August was $743k and the current average price is still more than every month this year except July and September).
Townhouses in East Van are still few and far between, and generally in a higher price range closer to $1-million. This is thanks to their larger size, the higher land value (the land is shared between fewer units) and the fact that many townhouses are newer.
View all East Vancouver Townhouses for Sale
Average Sales Price: The current average sales price is $836k for East Van, and the graph below breaks down the average price for townhouses in various areas of East Van.
I expect the lower end of this market to remain busy, because of the limited inventory available in the city and the livability of townhouses. I was happy to see the Grandview Community Plan allow for more duplexes and townhouses, but it will be quite a while before they come to fruition.
Don’t hesitate to contact us if you have any questions about townhouses in East Vancouver.