Vancouver

Vancouver Condo Market Snapshot: June 2016

June rains fail to dampen hot market

By
REW.ca
July 18, 2016






Vancouver-monthly-stat

As seen in...

Westcoast Condominium


It’s a great time to be a condo seller in Vancouver with markets on both the West and East Sides continuing to experience growth. June sales were up over the previous month by 1.2 per cent on the West Side and a similar 1.1 per cent in the East. The latter market is seeing some outstanding performance with the median selling price there a remarkable seven per cent higher in June than in May.

Grandview

Commercial Drive and Broadway bisect this popular neighbourhood. If you’re keen to live here, check out the six condo listings, five of which were listed in June. For $319,888 you can call a one-bedroom in La Contessa home. Or, if you have more to spend, how about a two-bedroom in Landmark Place that is going for $647,900?

None of June’s eight sales reported during our data collection period went for under asking and only one sold right on the mark (a one-bedroom in Landmark Court for $318,000). A two-bedroom in Cedar Cottage Estates took 11 days to close at a stunning 24 per cent over its $499,000 price.

West End

There’s an energy and a buzz in this community that’s unlike anywhere else in Vancouver. You can become part of the vibe by picking up one of the area’s 60 active listings which range in price from $350,000 for a one-bedroom in Westsea Tower to $8,680,000 for a four-bedroom in Beach Avenue’s Cinque Terre.

Our reports show 37 West End condos sold last month. The new owner of a studio in Beach Town House Apartments should be proud of their negotiating skills. They closed at eight per cent under the $498,000 list price. At the other end of the scale, the former owners of a one-bedroom in Broughton Towers should be doing a happy dance. Their unit went for 24 per cent more than its $445,000 list price.

For a full summary of the Vancouver condo market in June 2016, check out our infographic below.Vancouver Snapshot June

 


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