Vancouver

Vancouver Condo Market Snapshot: January 19-29, 2016

Looks like spring is set to come early in our region's largest market

By
REW.ca
February 12, 2016






Vancouver-monthly-stat

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Westcoast Condominium


It’s the spring thaw, come early. Listings are up across Metro Vancouver and Vancouver itself is no exception. It’s good news for condo hunters who always appreciate more choice. Something else for buyers to be grateful for… the new properties are pulling the median listing prices down on both the East and West sides.

One of the West Side’s most affordable recent listings is in Coal Harbour – a neighbourhood normally not mentioned in the same breath as the word affordable. Mind you, there’s a hitch. The $200,000 sticker price is for a one-bedroom in the Marriott Pinnacle Hotel where the owner is entitled to 30 days of use per year.

Looking for a well-priced option on the East Side? The cheapest living here is for a one-bedroom in Mount Pleasant’s Rosemount Manor. This unit entered the market January 25 for $145,000.

Renfrew

This primarily residential neighbourhood enjoys good access to nature including Renfrew Ravine Park as well as both the Renfrew and Rupert SkyTrain stations. There are 15 active listings in the area; two-thirds of these are in Thind’s Renfrew & 1st and Renfrew & 2nd preconstruction developments. One of these brand-new homes will set you back anywhere from $303,900 to $543,900.

Recent sales in the area include a one-bedroom in 8th Avenue Garden Apartments selling for one per cent under its $275,000 list price after 197 days on the market and a one-bedroom in L’Atelier going for three per cent over its $475,000 price after only 11 days.

Kerrisdale

This neighbourhood with its quaint shopping village is one of our city’s most desirable locations. When it comes to recent listings, a one-bedroom penthouse came on the market January 26 in Kerrisdale Place. It’s listed for $499,000. Sterling, currently in preconstruction, has the community’s priciest option: $2.85 million for a three-bedroom you can call home in 2017.

Two recent area sales indicate properties priced right on the money. A two-bedroom in Balsam Court sold for its list price of $468,000 after five days while a two-bedroom in The Wedgewood took four days to sell for one per cent under its $1,498,000 asking price. 

Vancouver Market Snapshot


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