The East Van Condo Market is still incredibly busy. A lot of people are looking to get into the real estate market, and condos are the gateway. The sales to active ratio is at 60%, which is down over the year’s 90% high, but places us firmly in a Seller’s Market. We’ve been in a Seller’s Market (Sales to Active Ratio of 20% or more) for East Van Condos since January 2015. The average sales prices is steady at $511,810 with a median of $458,888.
Great properties in high demand neighbourhoods should still see a lot of interest from Buyers.
Take a look at the price difference between 1 bedroom, 2 bedroom and 3 bedroom condos in East Van:
Lots of people are still looking to get into the Vancouver Real Estate market so I don’t expect it to slow down considerably thanks to limited inventory and affordability. With more inventory, Buyers may have a little more choice and hopefully, can push through “subject” offers. Will more inventory affect prices? I don’t think prices will drop, but I think prices will level out (rather than continue to increase) with fewer multiple offer situations.
If you’re seriously thinking of selling your East Vancouver condo, take 30 seconds and use our free, no obligation Home Evaluation form.
Don’t hesitate to contact us if you have any questions about condos for sale in East Vancouver.