East Van Monthly Market Update for September 2021

Share Article

Hello East Van!

I hope everyone enjoys a great Labour Day long weekend. August is typically a fairly slow month in real estate – instead of spending weekend viewing properties most Buyers spend their weekends on the Island, up in Whistler or visiting family. The number of new listings drops significantly as does overall motivation, but it always picks up again after Labour Day. Expect to see a slight increase in new listings each week that will generally last until November. If you’re looking to purchase this Fall, keep your eyes on the market and be ready to compete in multiple offer scenarios – I believe the market is going to be similar to the Spring with good properties receiving a lot of interest and selling pretty quickly.

If you’re thinking about selling your property, give me a call to chat about value, pricing strategy and the sale process. There are plenty of details to chat about and useful things you can do now to prepare for a Fall sale, so don’t hesitate to contact me if you’d like to get started [email protected] or 778-387-7371.

Onto the stats:

The overall HPI Price was pretty steady for each market with a slight uptick for townhouses. Overall townhouses have seen the biggest increase in price in the last year with a 13% increase, but detached houses are right behind at 12% – no surprise given that everyone wanted more space in the last year. Condos have increased 5% in the last year. I wouldn’t be surprised if there was a slight uptick in overall HPI this Fall after remaining fairly steady since April.

There was a decline in the number of listings this past month so expect to see an increase in September. It won’t be a significant, market changing increase, but it’ll be enough to get people moving.

Overall the sales to active ratio is still really high – it’s 18% for detached houses then increases to 33% for townhouses, 32% for 2 bedroom condos and 60% for 1 bedroom condos. The market is busy and there are a lot of Buyers out there waiting for their opportunity.

East Vancouver Real Estate Stats up to and including August 2021

HPI Price for East Vancouver

*Unfortunately HPI Price can’t be any more specific than Condo/Townhouse/House*

Average Sales Price

Median Percentage of Original Price for East Vancouver

New Listings for East Vancouver

Total Inventory for East Vancouver

Total Sales for East Vancouver

Sales to Active Ratio for East Vancouver

Median Days on Market for East Vancouver

If you have any questions – regardless of how simple – don’t hesitate to send me an email or give me a call: [email protected] or 778-387-7371.

Now is a great time to check in with your mortgage broker about your existing pre-approval. You want to make sure they have all the documents they need (including updated paystubs) to ensure your pre-approval is up to date. Interest rates are great right now so it could be a good time to lock in a new rate for the Fall.

Finally, my monthly reminder to keep supporting local businesses. We only have 4 more months in the year to use up health benefits so make those appointments.  Start thinking about necessary fall house maintenance including gutter cleaning, window sealing and ensuring any potential openings for critters are closed up. 

– Kristi