East Vancouver Townhouse Market Update – May 2017

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Townhouse Market in East Vancouver for May

Townhouses in East Van are still a hot commodity. The sales to active ratio are currently at 91%, which is up from 58% last month, though still lower than April 2016’s average of 119%. Breaking this down by the number of bedrooms, and we have sales to the active ratio of 50% for 2 bedroom townhouses, and 126% for 3+ bedroom condos.

The average sales price for the entire market is $847,502, and broken down into the different segments, we get $710k for a 1 bedroom townhouse (must’ve been a luxury unit), $726k for a 2 bedroom unit and $890k for a 3 bedroom unit. Keep in mind that a lot of townhouses are located in East Van neighbourhoods that are a little further from downtown, and therefore a little cheaper.

Looking at price per sqft, and we get an average of $979/sqft (up significantly from last April’s average of $778/sqft) for 1 bedroom townhouses, $748/sqft for 2 bedroom townhouses and $684/sqft for 3 bedroom townhouses. These graphs show a lot of up and down, so the type of properties that generally sell in each particular month make a really big difference on value, so expect the averages to be very different in various neighbourhoods.

Total inventory is around last year’s average, but expect it to increase this Spring.

Take a look at some of the stats for one, two and three bedroom townhouses in East Van:

Townhouse Market in Mount Pleasant:

Townhouse Market in Grandview:

Townhouse Market in Fraserview:

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.

Don’t hesitate to contact us if you have any questions about buying or selling townhouses in East Vancouver. Also, check out our handy Guides below: