Vancouver

Vancouver Condo Market Snapshot: February 12-26, 2016

Baby-boomers are downsizing, and trading in suburbia for urban chic

By
REW.ca
March 11, 2016






Vancouver-monthly-stat

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Westcoast Condominium


Probably every real estate agent has tales about clients who fled the city to raise their children and are now flocking back to their urban roots as soon as the chicks leave the nest. Vancouver offers a wealth of condo choices for these buyers who prize location and access to amenities above all else. Half of the 934 current listings have two bedrooms – a must for couples who want a bit of extra space as well as a place for junior and others to stay for short visits.

The least expensive two-bedroom in Vancouver is currently in Gardenia Villa on the city’s Eastside Renfrew neighbourhood. It’s listed at $269,000 and just went on the market February 24. If you must live on the West Side, your cheapest two-bedroom option is $359,000 in Gulf View Court in Marpole.

Fairview

Rising above the south shore of False Creek, Fairview Slopes is chock-a-block full of condos and there are 39 active listings here, including 16 with two bedrooms. In this category, prices start at $499,900 and go to $2,875,000. 

Condos are moving fast and those stories you have heard about properties going for over list are not limited to single-detached homes. One two-bedroom in La Galleria took eight days to sell for a whopping 30 per cent over its $336,000 list price. While this number is exceptional, only two of 17 recent sales in the area went for less than list. 

Downtown Eastside

Put aside the initial angst you feel when you see the name of this maligned neighbourhood and you will discover a close-knit and vibrant community. There are seven active condo listings, four of which have two bedrooms. They range from $549,500 to $879,900. 

Condos in this neighbourhood are also selling well above asking. A one-bedroom in Van Horne was snapped up after a week for seven per cent more than its $398,000 sticker price and the owners of a one-bedroom in Koret Lofts accepted an offer of $749,000 after three days on the market – that was 21 per cent over the $618,000 asking price.

Vancouver Condo Market Snapshot


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