November 2021 Condos & Townhomes Sales in Vancouver (Part 2 – East Vancouver)

In East Vancouver, the condo & townhome market was even hotter than in Downtown & Westside of Vancouver in November 2021. The sales ratio crept up to 51% last month, up from 39% in September, and 49% in October. Compared to condos & townhomes movement in Downtown & Westside of Vancouver in the same period, East Vancouver condos/townhomes/penthouses/lofts showed much higher listing absorption rates.

Two Major Price Band Splits for sales Ratios in East Van Condos/Townhomes

The sales activities were not as broad in East Vancouver compared to Vancouver Westside. $400k to $800k attached units in East Vancouver sold at a fast 69% (total 128 sales, all price bands selling at above 50%), while those in the $800k to $1.75m range sold at 39.5% (total 83 sales, all price bands selling at below 50%). There were 4 sales of condos priced under $400k in East Vancouver with a sales ratio of 33%, contributing a small sum to the total of 215 attached listings that traded hands this month.

The top 5 most active price bands by $100k breakpoints were:

1. $500k~$600k condos/townhomes in East Vancouver sold at 96%
2. $700k~$800k condos/townhomes in East Vancouver sold at 62%
3. $600k~$700k condos/townhomes in East Vancouver sold at 59%
4. $400k~$500k condos/townhomes in East Vancouver sold at 57%
5. $800k~$900k condos/townhomes in East Vancouver sold at 47%

Unlike Vancouver Westside & Downtown, the luxury segment had no movement – no condos or townhomes over $1.75m sold in East Vancouver, while 16 new listings were added in that price bracket in November.

Some areas in East Vancouver had Very Little New Inventory In November

Some regions stood out with extremely low new inventory with sales ratios ranging from 92% to 350%, indicating a very strong sellers’ market. South Vancouver (East Van) condos, on the other hand, had the lowest sales ratio of 7%. Here were the most popular East Vancouver neighbourhoods for Condo/Townhome sales in November:

1. Main (East Vancouver) had 7 sales with only 2 new attached homes added (350% sales ratio)
2. Hastings Sunrise (East Vancouver) had 2 sales with only 1 new attached home added (200% sales ratio)
3. Champlain Height (East Vancouver) had 9 sales with only 5 attached homes added (180% sales ratio)
4. Fraser (East Vancouver) had 11 sales with only 12 condos/townhomes added (92% sales ratio)

East Vancouver condos & townhomes remained on the market for 11 days on average in November. The Inventory reduced by 6% while sales only reduced by 2%, and the average $ per sqft rose mildly by $7/sqft ($842 to $849 per sqft) compared to the previous month.

To Learn more about which attached homes sold in East Vancouver

Please contact the Filer & Welch team to get more information on condo/townhome movements in East Vancouver.