House Sales in East Vancouver
The East Vancouver House market remains incredibly busy. After seeing a drop in the sales to active ratio in January, the ratio is now back up to 55%, which is a strong Seller’s market and a hair under 2015’s busiest month (June, with a 57% sales to active ratio). This activity puts the current housing market amongst the most active ever. Inventory is still significantly down over the last few years, but it’s in line with the numbers we saw last year. The average price continues to climb – it’s currently sitting at $1.576-million which is $40k more than last month and $393k more than this time last year (wow!). New construction has an average price over $2-million.
(Green is existing properties, Blue is new construction)
Total Inventory – New Construction vs Re-Sale:
Average Sales Price – New Construction vs Re-Sale:
The hotspots are still Main, Mount Pleasant and Renfrew.
Sellers: Contact us if you’re interested in selling your property, or fill out our home evaluation. Proper marketing, presentation of the property and negotiation techniques become very important in a market this busy, and we are your best options. We have the skills and experience to ensure you get the most out of your sale.
Buyers: You need to be knowledgable, prepared and quick to move if you want to be successful in this market. You not only need to be pre-approved, but you need a great mortgage broker and home inspector to ensure you’re ready to compete. Contact us to get started.
Don’t hesitate to contact us if you have any questions about the market.