It’s no secret that home sales are slowing in many parts of Metro Vancouver and Vancouver itself is not immune to the trend. However, this is still a sellers’ market and condo hunters need to jump on new listings. At $199,900, the most affordable current offering in town is a one-bedroom unit in Camfray Gardens. This Killarney-area home has been on the market since March, so most savvy shoppers are likely to have seen it already. A newer option is a one-bedroom in City View Place in the Hastings East neighbourhood. It joined the market in September at $295,000.
Yaletown
This is not the neighbourhood you head to for affordability. On the other hand, Yaletown has great energy and is perfect if you hunger for a true city lifestyle. There’s also no shortage of options with 173 current listings. The “get-your-foot-in-the-door” choice is a one-bedroom in Nova that joined the market in late August for $398,000. Prices go as high as $7,988,000 for a pre-sale home in Vancouver House.
We counted 31 sales in Yaletown in the four weeks leading up to September 7. A studio in Nova sold after a week for 10 per cent over its $399,000 asking price. Other owners weren’t so lucky with a One Pacific seller settling for 10 per cent under their $679,990 sticker price after more than a month with no better offers.
Collingwood
This East Side neighbourhood has a more suburban feel, but if you’re not adverse to east-sizing, it could be a good choice. A Kingsway property takes the prize as the area’s most affordable option: a one-bedroom for $250,000. A newer listing is a one-bedroom in Connaught that came on the market recently for $259,900.
The latest neighbourhood sales have gone anywhere from five per cent under list (a two-bedroom in Emerald Park Place; selling price: $388,000) to 14 per cent over (a one-bedroom in The MacGregor; selling price: $419,000).
Vancouver condo market snapshot infographic Sept 2016
