East Vancouver Saw Higher Sales Ratio Than Vancouver West in December 2021
East Vancouver’s single family house sales hit a 32% sales ratio for a solid sellers market. This sales ratio is nearly double that of Vancouver Westside’s 17%, although the total number of sales was only 14 higher than its counterpart. 93 homes sold in East Vancouver while it welcomed 290 new homes on the market in December 2021. The movement was swift & hot in East Vancouver, hitting an average of 104% sale to list price ratio, and only 8 days on market.
The Varying Activity Levels Across the Price Bands in East Vancouver Needs A Closer Look
Houses in East Vancouver priced $1.5M to $2M flew off the shelves at 118% as only 50 new listings were added while 59 traded hands in December 2021. For houses priced $2M to $3M in East Vancouver, the sales ratio drops gently to 18%. Houses in the $2.5M to $2.75M price band saw a spike up to 44%, however.
Once we get to the $3M and above price range for East Vancouver single family homes, the sales activities drop to only 1 sale amidst 71 new listings added (a pitiful 1.4% sales ratio). Compared to Vancouver Westside’s skewed inventory situation where 156 new listings were added with only 1 sale above the $6.5M band, the skewing of activity in East Vancouver is not as drastic, but the sharp increase in inventory in the higher price points and very low sales show a similar tale between the two Vancouvers.
East Vancouver Neighbourhoods That Moved Houses Fastest in December 2021
Mount Pleasant showed hot activity for condos & townhomes this month, and it had the highest sales ratio of single family homes in East Vancouver at 150%, albeit only 3 homes selling while 2 were added to inventory. Other areas in East Vancouver had very high absorption rates as well, with significantly higher sales counts:
- South Vancouver & Fraserview Houses sold at 62%
- Hastings Sunrise & Hastings Houses sold at 55%
- Renfrew & Renfrew Heights Houses sold at 51%
The above neighbourhoods combined for 50 of the 93 homes sold across East Vancouver in December 2021.
Get A More Detailed Breakdown of Single Family Homes Sales in Vancouver West
Curious to know which houses sold, and for how much, in any specific region in Vancouver last month? Contact the Filer & Welch team now for a more comprehensive real estate sales report!