East Vancouver Real Estate Update
It’s officially the Spring Market! We’ve made it past Easter and into the warmer weather where weekends may be spent hiking and biking rather than hitting open houses. The market is still trending upwards in the same way it has been all year. Prices are up (16% for condos, 20% for townhouses and 33% for houses), inventory is much lower than years past, and the sales to active ratio is off the charts (100% for condos, 120% for townhouses and 55% for houses).
Take a look at the numbers below and view our blogs on the specific markets:
(Green is Detached Houses, Blue is Townhouses, Orange is Condos)
Total Inventory in East Vancouver:
Sales to Active Ratio in East Vancouver:
Average Real Estate Sales Price in East Vancouver:
For potential Sellers out there – Give us a call or fill out our East Van home evaluation! Whether your building just had a surprising sale, or hasn’t sold a unit in years, we can make sure you’re priced right to enjoy a smooth and successful transaction. Our team will impress with our marketing plan, strategy and attitude. Connect with us and we’ll tell you what your home is worth and what can be done to maximize the sale.
For potential Buyers out there – Keep at it! New listings are being added every week and we’re entering into the busiest part of the Spring season which typically sees an increase in inventory over the first few months of the year. Make sure you’re pre-approved for a mortgage (contact one of our mortgage brokers for more info) and get in touch with us. This market is tough to navigate, and in order to submit strong contracts to win in multiple offers, you need a good agent on your side.
On another note, the WeLoveEastVan.com team is happy to announce that Cher Lin has joined our team as a new agent, bringing knowledge of the Burnaby, Richmond, White Rock and Vancouver markets, both re-sale and pre-sale units. Cher has many years of experience and speaks Mandarin – she’ll be a great addition to our team. If you want to chat with Cher, you can email her at [email protected] or call 778-896-3800.
Don’t hesitate to contact us if you have any questions. We are a team of seven (!) top agents working across Vancouver, ready to help you reach your real estate goals this year.