East Vancouver Townhouse Market Update – December 2017

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What’s Happening in the East Van Townhouse Market? 

The East Van townhouse market was pretty steady the past month. The sales to active ratio was at 35%. This means that it’s a Seller’s market, though it’s not nearly as busy as it has been over the last 2 years.
The HPI Price for townhouses in East Van is $861,900, with an average price of $1.2-million for a 1 bedroom townhouse (this number was severely skewed by a $1.9-million dollar luxury townhouse sale last month in The Edge, so the real average should have been well under $700k), $864,500 for a 2 bedroom townhouse, and $922,426 for a 3 bedroom townhouse. The price per sqft was $778/sqft, $857/sqft and $720/sqft for 1, 2 and 3 bed townhouses respectively.
The amount of inventory was fairly steady this past month, with 86 options (61 of which were new), breaking that down to 4 one bed townhouses, 27 two bed townhouses and 48 three bed townhouses for sale. Inventory for townhouses is quite strong compared to the last few years – we’re back to 2015 numbers, which is really promising for Buyers looking to get into this market.
One thing to keep in mind is that the townhouse market is quite small, and has a mix between brand new units still under construction and leasehold units in South Van, so it’s tough for the numbers to be very representative of the market as a whole. If you’re interested in what’s happening in specific areas let me know.
If you’re looking to buy and haven’t chatted with a Real Estate Agent, there’s no better time than to start now! We can sit down for a coffee to discuss what you know, what you don’t know, what to expect and how to get started. It’s more intense than you might imagine, but it’s very do-able if you’re prepared. Shoot me an email to book a knowledge session: [email protected].
If you’re looking to sell, remember that the little things can make a big difference. We can help you ensure your home is prepared for a sale, and that you know what your options are when it comes to your next purchase and the ideal timeline as well.
Don’t hesitate to contact us if you have any questions!

East Van Townhouse Market Stats

(Orange is 1 Bed Townhouses, Blue is 2 Bed Townhouses, Green is 3 Bed Townhouses)