East Vancouver Condo Market Update: May 2014

04.05.2014

The condo market in East Vancouver is currently sitting in a balanced market with a 14% absorption rate. Prices are levelling out to the high $300,000’s with an average price per sqft at just over $500/sqft. The number of sales has dropped, but given the high activity the area has seen in the last few months, a slight drop isn’t a worry. The most active market is the $400k to $500k price bracket (which is East Van, are the larger 1 bedrooms and 2 bedroom units).

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Recent East Vancouver Condo Sales

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One of the most expensive East Van condos sold last month was a 1487 sqft 2 bedroom + den, 2 bathroom unit in The National near Science World. This unit is on the 24th floor, and has amazing western views of False Creek, Downtown and the Mountains. The unit comes with parking and storage, and the building has an exercise centre and indoor pool. This unit was listed for $998,888 and sold 12 days later for $988,000.

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One of the least expensive East Van condos sold last month was a 600 sqft 1 bedroom condo at 7th and Prince Albert. The unit is fully carpeted, has a small balcony and could use some updates. The unit comes with 1 parking and 1 locker, and there is shared laundry in the building. Pets and rentals are not allowed. This unit was listed for $239,000 and sold 153 days later for $217,000.

View all 1 bedroom condos and 2 bedroom condos for sale in East Vancouver.

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