EAST VANCOUVER TOWNHOME AND HALF DUPLEX MARKET UPDATE
The East Van townhouse and half duplex market had a 32% sales to active ratio with lots of activity at the $300k to $600k level and the $700k to $800k level.
Prices in the townhouse and half duplex market have increased as well – currently the median sits at $792,500 while the average is $746,963, which are a 19% and 13.5% increase over last year. Some of the increase is the influx of newer and larger half duplexes bringing up the price point, while the other aspect of the increase is the rising market thanks to Vancouver’s shortage of family sized homes and detached properties getting further and further out of reach for many people. Take a look at this graph showing the trend in average prices over the last few years, with the biggest increase happening this year.
One of the most expensive townhouse sales in East Van last month was this 3 bedroom, 3 bathroom 1600sqft townhouse. This fourplex was built in 2008 with rainscreen technology, 9 foot ceilings, gourmet kitchen, hardwood floors, ample storage, bike room, private outdoor space for each unit and single carports. The location is just south of Commercial Drive between Venables and East 1st Ave, putting you only blocks to great restaurants, grocery, a community centre and parks. The unit was listed for $889,000 and sold 6 days later for $928,000.