East Vancouver Townhouse Market Update – April 2018
The East Van Townhouse market was just as busy as the condo market. Sales to active ratios showed 150% for one bedroom townhouses, 77% for two bedroom townhouses and 40% for three bedroom townhouses, which was an increase over the previous month for each segment.
The average price per sqft was $676,000 ($982/sqft) for a one bedroom townhouse, $916,405 ($851/sqft) for two bedroom townhouses and $1,087,879 ($778/sqft) for three bedroom townhouses. The number of days on market is 29 days for one bedroom units, then 10 and 8 days for two and three bedroom units, so they’re selling quickly.
The amount of inventory for East Van townhouses has been sporadic.. some months have more inventory than others which will affect the number of sales that we see.
Buyers, I can’t stress this enough. Talk to a mortgage broker. There are so many little details about your financing that you won’t be able to accurately predict your mortgage terms and rate with a calculator. Mortgage brokers stay on top of the changes, and can offer you a bigger number of options compared t a bank, which is needed in this market.
Sellers, don’t underestimate the detached market right now. It’s a bit slower, and with the addition of a mortgage helper, your monthly costs won’t be much more expensive, though you’ll own your own home and lot. This is a lot more approachable if you’re willing to move a little further out – Renfrew, Hastings, etc.
Contact me if you have any questions about the buying or selling process, or want to chat about your options: [email protected] or 778-387-7371.
East Van Townhouse Statistics
Take a look at the numbers:
