East Vancouver Detached House Market
The detached house market in East Vancouver followed through with what was expected – a drop in inventory (thanks to the upcoming holidays), steady days on market (the average this year has been 9 days), an increase in sales price (to an average of $1.39M) and a sales to active ratio nearing 50%. Detached house sales has have remained so busy, throughout the year, that it’s hard to say what’s going to happen to the market in the New Year. Hopefully the amount of inventory increases to satisfy the number of Buyers and bring the market back to a more normal pace. Until then, Buyers have to be ready to submit “subject free offers” on any property, which means you have to ensure your financing in solid, do a pre-inspection and gather any documents and information before submitting your offer. Having your deposit on hand and flexible dates are often needed as well.
The busiest markets remain the neighbourhood close to downtown, including Mount Pleasant, Grandview, Hastings, Fraser, Knight and Main.
Recent Detached House Sales in East Vancouver
One of the most expensive houses sold last month was this 2012 built home sitting on a 50×120 lot in Killarney. This home has 9 bedrooms in total, and 8 bathrooms, which include a laneway house and basement suite. This home was listed for $2,988,000 and sold for $2,750,000 a week later.
One of the least expensive detached houses sold in East Van last month was this 985sqft home on stratified land (meaning a few houses share the land and the associated costs) in Collingwood. The home is brand new with 3 bedrooms, and 1.5 bathrooms, along with a patio and single garage. This unit was listed and sold for $685,000.