East Vancouver Townhouse Market Update – September 2017

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The East Van townhouse market is still a popular market thanks to limited amounts of inventory as there are only 53 townhouses for sale in all of East Van right now, and a big variation in that inventory. 
The sales to active ratio is 45% overall, which is about half of this year’s high of 90% but still very strong when you consider that a Seller’s market is generally over 20%. The sales to active ratio was 33% for 1 bed townhouses, 58% for 2 bed townhouses and 32% for 3 bed townhouses. 
The average price is $385k ($531/sqft) for a 1 bed townhouse, $967k ($813/sqft) for a 2 bed townhouse and $946k ($642/sqft) for a 3 bed townhouse. Keep in mind that a lot of 3 bed townhouses are on Leasehold Land in South Vancouver, which keeps the costs down. New 3 bed townhouses near Vancouver are usually $1.3-million and up, and can be few and far between. There is a new project at Victoria and E Georgia (near Commercial Drive / Hastings) that is currently selling 3 and 4 bedroom units, though there are only 6 of them, so you have to act quickly! Let me know if you’re interested in this development.
Take a look at the numbers: 
(Orange is 1 Bed Townhouses, Blue is 2 Bed Townhouses, Green is 3 Bed Townhouses and Purple is East Van Townhouses in general)

I’ve had a lot of people recently ask me about duplexes – whether it’s finding a duplex with a mortgage helper (unlikely, but when they do exist, they’ll be small) or buying both sides of a duplex with family or friends (rare because this is usually only possible with a brand new duplex). Keep in mind that duplexes are more expensive than townhouses, and you’ll still need at least $1.1-million to get into the market. Depending on what your priorities are, you might be able to find a detached house in Burnaby for just about the same price as a duplex n Vancouver, so they’re worth considering (and yes, we do work in Burnaby as well). 
Don’t hesitate to contact us if you have any questions about buying or selling townhouses in East Vancouver.