East Vancouver Detached House Market Update for October 2015
The East Vancouver house market had a very slight increase in listings and an 18% decrease in sales over August. Compared to 2014, this September had 17% fewer listings and 16% fewer sales. The sales to active ratio was around 30%, which is still a Seller’s market, but far from the 55% sales to active that we were seeing a few months ago. Of the detached house sales in September, only a small handful of them were newer builds, which shows that small scale Developer’s have their eye on building multi-unit complexes rather than single family houses. The $1-million to $1.25-million price bracket had a 53% sales to active ratio which was by far the most active price point in the East Vancouver detached house market.
This market is still the most active real estate market in Vancouver. If you’re looking for a detached home, you have to stay on top of the new listings, see them at the previews on Thursday, or at the weekend open houses and be ready to write an offer soon after. If you’re not already working with an agent – contact us! You need strong representation in this market.
Recent Detached House Sales in East Vancouver
One of the least expensive houses sold in East Van last month was this 3 bedroom, 2 bathroom home sitting on a 33’x’107′ lot in Renfrew. This bungalow has 1700sqft with potential for a basement suite. Listed for $848,000, it sol 6 days later for $868,000.
One of the most expensive houses sold in East Van last month was this 66’x122′ double corner lot in Grandview. The 3900sqft Georgian Character House is in great shape, still retaining many of it’s heritage features, like original hardwood floors, stained glass windows, and more. The lot itself offers a lot of potential for future development and additions. Listed for $2,395,000, this home sold 71 days later for $2,300,000.