East Vancouver Townhouse Market Update for May 2016

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East Vancouver Townhouses – May 2016

The East Van townhouse market had a busy month, with a sales to active ratio of 116% (meaning the number of listings can’t keep up with the interest). The average sales price remains at $819k, though this price can vary depending on the neighbourhood, number of bedrooms, and unique factors. The average price is $53k higher than last month and $230k higher than last year. Yet again, inventory is at the lowest it’s been in years, only 25 listings. It was at 111 listings at this time last year. The number of days on market sits at an expected 7 days (its very indicative of subject free offers thanks to this pattern: list the property, weekend open houses, offer presentation early next week)

This half duplex and townhouse market in East Van will remain busy as Buyers move up from their 2 bedroom condos into larger 3 bedroom townhouses. Unfortunately, there just aren’t many of these types of properties, so competition will be strong amidst Buyers. The hotspots are Knight (Cedar Cottage), Main, Champlain Heights/Fraserview and Grandview-Commercial Drive.

View all East Vancouver Townhouses for Sale

View all East Vancouver Half Duplex for Sale

Don’t hesitate to contact us if you have any questions about the townhouse market.