East Vancouver Townhouse Market Update: September 2015

08.09.2015

East Vancouver Townhome and Half Duplex Market Update

The East Van townhouse and half duplex market had a 32% sales to active ratio with lots of activity at the $300k to $600k level and the $700k to $800k level.

Prices in the townhouse and half duplex market have increased as well  – currently the median sits at $792,500 while the average is $746,963, which are a 19% and 13.5% increase over last year. Some of the increase is the influx of newer and larger half duplexes bringing up the price point, while the other aspect of the increase is the rising market thanks to Vancouver’s shortage of family sized homes and detached properties getting further and further out of reach for many people. Take a look at this graph showing the trend in average prices over the last few years, with the biggest increase happening this year.

average_sale_price_september_east_vancouver_townhouse

Contact us if you’re interested in buying or selling a townhouse or half duplex in East Van. This market is busy thanks to many Buyers being priced out of the Detached Market, hoping to get the next best thing for their growing family. Multiple offers have been very common and you need an experienced agent on your side.

Recent Townhouse and Half Duplex Sales in East Vancouver

1628_Grant_Grandview_Townhouse

One of the most expensive townhouse sales in East Van last month was this 3 bedroom, 3 bathroom 1600sqft townhouse. This fourplex was built in 2008 with rainscreen technology, 9 foot ceilings, gourmet kitchen, hardwood floors, ample storage, bike room, private outdoor space for each unit and single carports. The location is just south of Commercial Drive between Venables and East 1st Ave, putting you only blocks to great restaurants, grocery, a community centre and parks. The unit was listed for $889,000 and sold 6 days later for $928,000.

453_E16th_One_Bedroom_Townhouse
The least expensive townhouse sale in East Van last month was this 507sqft 1 bedroom unit with a private front patio in Skala. The unit comes with parking and in suite laundry the building offers bike storage and no restrictions on pets and rentals. The unit is small, but well laid out with some flexibility on how to organize the space. This would be a great starter home, or rental property. The unit was listed for $339,000 and sold a month later for $326,500.

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