East Vancouver Townhouse Market Update – April 2017
The townhouse market in East Van is still quite busy.. young families are looking to make the jump into something bigger, and without many options in Vancouver (townhouse developments aren’t too common and when they are built it’s usually with very few units), there’s a lot of competition.
The sales to active ratio is 100% for 1 bedroom townhouses, 83% for 2 bedroom condos and 42% for 3 bedroom townhouses. Keep in mind, many 3 bedroom townhouses are leasehold units in Fraserview and Champlain Heights, that don’t have the same levels of interest.
Inventory levels are really low right now.. only 1 one bedroom townhouse, 12 two bedroom townhouses (up 71% over last year) and 33 three bedroom townhouses (up 120% over last year). Looking at the current listings right now, one-third of these 3 bedroom units are in the southern area of East Van (Champlain Heights and Killarney). One thing to keep in mind is half duplexes are not considered in the townhouse statistics, so there will be more 3 bedroom units available (Grandview, in particular, has a number of half duplexes) but the average price would be higher.
Take a look at some of the stats for one, two and three bedroom townhouses in East Van:
Sales to Active Ratio:
Total Inventory:
Average Price:
With the detached market being the least active market right now, it’s a good time for townhouses owners to make the jump into detached houses. Not only will you get a good price for your townhouse but inventory is quite high for detached houses so you’ll have some options to choose from, without as much competition as there was last year.
Don’t hesitate to contact us if you have any questions about buying or selling townhouses in East Vancouver.
