East Vancouver Condo Market Update: October 2014

09.10.2014

East Van Condos: Sales Statistics

The East Van condo market Inventory is up in East Vancouver, but sales are down over last month and last year. East Van currently has a number of new condo buildings both announced and soon to be completed (Block 100, Opsal, Keefer, etc), meaning a lot of Buyers may have purchased directly from the developer so the sales haven’t registered in our system. Otherwise, sales prices are starting to edge upward, with the average hitting $407k and the median at $352k. A majority of the sales in East Van are under $400,000, but with the number of unique neighbourhoods, and variety in types of housing, there is something for everyone.

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Recent East Vancouver Condo Sales

The two most expensive condos sold in East Van last month were in the Pinkington House at 120 Powell St in Gastown. These character “loft” style units have details like brick walls, wood and steel beams and concrete floors.

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The first unit has 2900sqft unit with 3 bedrooms and 2 bathrooms, with access to the shared rooftop patio. Listed for $1,425,000, this unit sold 1 day later for $1,425,000.

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The other unit has 2664sqft with 2 bedrooms and 3 bathrooms. This unit is much more modern with a fully renovated kitchen with bright red cabinets, and other modern updates. This home was listed for $1,699,000 and sold 6 days later for $1,575,000.

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One of the least expensive condos sold in East Van last month was a 1 bedroom, ground floor, 716sqft unit at 440 East 5th Ave. This unit has a private, fenced patio with views of the mountains (thanks to the hill the building sits on!), and it comes with parking and storage. The unit needs an update, but it has a lot of space for the price, and in suite laundry is permitted. Listed for $249,000, this home sold 145 days later for $242,500.

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