Back to Blog
Buying & Selling Tips

Vancouver Condo Market Snapshot: August 2016

By Jill Lunde Oct 3, 2016

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

Never Miss a Story
Subscribe to our newsletter and get the week's top real estate news delivered to your inbox.
You can unsubscribe at any time