Analyzing the East Van Condo Market
In the East Van Condo Market you’ll see a much different story than what’s happening in the West. The $340k average price is much more affordable for first time home buyers (of 1 bedroom condos), and it offers a mix of condos with half of the sales being built in 2002 or more recent. Given the low prices, the average price is much more likely to fluctuate with any higher number, so slight changes in price here shouldn’t be a worry.
The most expensive East Van condo sale last month was a 2200 sqft loft in Koret Lofts in Gastown. With 3 bedrooms and lots of space, this home was very unique – original fir floors, exposed wood beams and vintage radiators. It was listed for $1.19-million and sold 24 days later for $1-million (though this loft was initially listed for $1.488-million back in September 2012).
The least expensive East Van condo sale was in Windsor Park at East 7th and St. Catherines (across the street from China Park). It was 452 sqft in a 39 year old building. The home has some renovations and will likely be used as a rental property (since homes under 500 sqft require higher down payments). It was listed for $165k and sold 21 days later for $163k.