The East Vancouver Detached House market has finally started to slow down, though that’s relative to the extremely busy market we’ve seen this year. The sales to active ratio was at 29% with the median and average price both sitting just above $1.3-million. Every price point in the detached house market had a strong sales to active ratio, though the $1.75-million and up market just doesn’t have the same interest from Buyers. Listings and Sales of detached houses will remain fairly slow for the rest of August (though if you’re eager to buy, keep your pulse on the market) and should pick up in the fall. We’re hopeful that we’ll see more inventory to satisfy the number of Buyers, but it’ll likely still be a Seller’s Market.
One of the most expensive houses sold in East Van last month was this brand new 3528sqft home at Ontario and E 58th, at the corner of Langara Golf Course. This home has 7 bedrooms and 5.5 bathrooms, with all the modern amenities you’d expect at this price point: Chef’s kitchen, 10’ ceilings, outdoor kitchen, media room and more. The home comes with a two bedroom basement suite and separate laneway house. Listed for $2,198,000, this home sold a month later for $2,198,000.
One of the least expensive houses sold in East Vancouver last month was this 1259sqft home on a 31’x110’ lot in Renfrew, just east of the Trans Canada highway. This home needs some major work to the interior and exterior. Listed for $799,000, this home sold for $735,000 after two weeks.