East Vancouver Condo Market Update for October 2015
The East Vancouver Condo market saw 5% fewer listings and 10% fewer sales over August, and compared to last year, a 37% drop in listings and a 32% increase in sales. That high demand for fewer listings is what’s driving the increase in prices across East Van, along with the increasing number of newer condos that are priced higher than their older counterparts. This is evident in the Average Price per Sqft – last year it was at $500/sqft, whereas this year it’s almost $100/sqft more.
Three bedroom condos in East Van had a 55% sales to active rate, and sales were strong in every price point
Recent Condo Sales in East Vancouver
One of the least expensive condo sales in East Van last month was this 1 bedroom unit in a concrete building in Collingwood, close to a Skytrain to take you downtown. This unit has 484sqft of very well designed space with a pretty standard, but good floor plan. The unit has updated flooring and a bright exposure that allows a lot of light to come into the unit. The west facing balcony overlooks the courtyard. The unit comes with parking and storage, and the building has shared laundry. Listed for $218,000, the unit sold 65 days later for $208,000.
The most expensive condo sold in East Vancouver last month (and by over $600k more then the next one) was this incredible unit in Central, near the Main St / Science World Skytrain Station. This 1335sqft sub penthouse also has a 1100sqft walkout terrace with panoramic views. The building offers great amenities like A/C, a fitness centre and a hot tub. Listed for $1,650,000, this unit sold 9 days later for $1,628,000.