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The great divide between east and west continued in condo sales in Vancouver this September. However, this time, owners were smiling on the city’s East Side, where sales were up close to 24 per cent over August. During that same time, sales dropped nearly 18 per cent on the West Side. Comparing sales from July to September 2015 with those from the same period in 2014, sellers on both sides of Main Street should be united in their glee: sales in the east were up 36.6 per cent while those on the west were tracking just north of 31 per cent higher.
On the buyers’ side of the balance sheet, the East Side saw no increase in the number of new listings between August and September, while the West Side an increase of just over 18 per cent of the number of new options added to the marketplace.
When it comes to sales registered between September 19 and October 2, we have to tip our hats to the sellers. Fifty-five per cent of properties went for at or above the listed price… some as much as 11 per cent over asking.
Cambie
There’s nothing that can shake up a neighbourhood quite like augmenting its transit options. The Cambie corridor is undergoing enormous change which is reflected in the condo market: 19 of the 23 active listings at the time of writing were all in brand-new buildings. The median cost of a condo (new or old) in this community is $822,400 – well above the overall West Side listing median of $688,800.
Prices in this neighbourhood ranged from a low of $279,900 for a 40-year-old, one-bedroom in Heather Court to over $1.6 million for a three-bedroom in The Monarch that will be ready for move in sometime in 2017. A two-bedroom home on a lower level in that same new development is also available. The price tag? $964,900.
Fraserview
Fabulous transit access is not something sellers in this neighbourhood can claim, but many people who live here believe it is Vancouver’s hidden jewel. Running along the Fraser River below SE Marine Drive, the area is great for outdoor enthusiasts with its many parks and access to miles of walking/jogging/cycling trails.
The median price of the 14 active listings is $358,850, which puts it slightly under the East Side’s median listing price of $368,800. Condo hunters can choose from a one-bedroom in the 16-year-old Southampton complex for a low of $269,900 to a two-bedroom in the 24-year-old The Phoenix for a high of $799,000.
NS-OCT-Vancouver
