East Vancouver Townhome and Half Duplex Market Update
The East Van townhouse and half duplex market has experienced just what we expected – low inventory (currently sits at 43 properties, the lowest since before 2012), a very high 65% sales to active ratio (making it a strong Seller’s market), an increase in the number of days on market (currently at 18, up from the year’s average of 10), and a high average sales price (currently at $668k, down from last month’s highest ever average of $673k). Keep in mind the sale price includes everything from inexpensive townhouses across East Van, to brand new and expensive half duplexes.
The busiest townhouse/duplex markets are close to downtown, with new townhouse units being sold by Developer’s snapped up very quickly.
Recent Townhouse and Half Duplex Sales in East Vancouver
The most expensive townhouses sold in East Van last month was this brand new Mount Pleasant townhouse, in Essence on East 7th. The unit has 2153sqft with 3 bedrooms, 3.5 bathrooms and a roof top deck. Being top floor the unit has skylights bringing in some sunlight and windows on multiple sides. Some features include a private elevator to your front door, air conditioning and custom white finishings, allowing the Buyer to decorate to their tastes. This unit was listed for $1,499,000 and sold a few weeks later for $1,410,000.
One of the least expensive townhouses sold in East Van last month was this 2 bed, 2 bath unit in Fraserview, with river views. The townhouse is located near the new River District community which is adding a lot of life to the neighbourhood. This unit was listed for $429,000 and sold two weeks later for $425,000.