Vancouver East
Starting off with East Vancouver, sales of detached homes actually increased in September by 12% – yielding a 14% sales ratio for houses in the Eastside. Maybe it’s not a coincidence that the increase of sales is happening at the same time the sale to list price ratio decreased 2%, the average sale price decreased 6% and the average days on market decreased 3 days. In times of increasing economic uncertainty as inflation increases, East Vancouver appears to be a growing interest for potential homebuyers looking to buy a single-family home.
The majority of September’s sales were for single-family homes costing between $1,250,000 to $2,000,000. More specifically, the price band of homes priced $1.25M to $1.5M were the most active at a 62% sales ratio. Compared to other regions in the Lower Mainland, these prices are actually quite accessible even with higher interest rates on mortgages.
Plus you can get a yard.
The three most popular neighbourhoods for detached home sales in East Vancouver are Fraser VE (33%), Knight (29%) and Killarney VE (24%). These sales ratios are not only high, but these neighbourhoods also each have the highest sales volume.
- View single-family homes in Fraser VE.
- View detached homes in the Knight neighbourhood.
- View available houses for sale in Killarney VE.
In East Vancouver, almost half of homes sold were 3-4 bedrooms. This segment had a 20% sales ratio. When paired with the broad price band between $1.25M to $2M this means these houses have a great value of space for the price. Check out available Eastside house listings with 3-4 bedrooms.
Vancouver West
Detached homes selling for $3,000,000 to $4,000,000 sold the best in Vancouver West. While these homes are pricier than what’s selling well in some other regions, the overwhelming amount of activity in this price band dwarfs the sales activity above $4 million. Sales overall slipped by 5% in September. Although the average sale price increased by 11% to $3,395,000, in actuality the average sale to list price ratio declined by 9%. This means that homes sold in September were on average selling 7% below the list price.
Neighbourhood-by-neighbourhood sales stats are much more predictable, thankfully.
- View single-family homes in the quiet Dunbar neighbourhood, which had an 18% sales ratio and is located near Pacific Spirit Regional Park.
- Prestigious Point Grey has detached home listings, with a 10% sales ratio last month.
- South Granville homes sold at a 9% sales ratio – see what trendy houses are available for sale.
Homes with 5-bedrooms or more account for 50% of home sales in Vancouver Westside. That is certainly understandable, and maybe even expected if you’ve ever taken a stroll down some quieter streets in Shaughnessy, Point Grey or Dunbar. Take a look at some of the available 5-bedroom single-family homes in Vancouver West neighbourhoods here.
What about the exclusive Shaughnessy neighbourhood filled with prestigious, luxurious homes?
For instance, 1638 Matthews Avenue has 2 beds and 3 baths, and at $3,199,000 is part of the popular price band. It’s actually below the average sale price of a home in September, so it’s perfectly suited for the price. And there’s a certain cache about a Shaughnessy home which can only be found in Shaughnessy.
For homebuyers seeking a big house with space for a growing family, there’s 1903 West 19th Avenue to consider. This beautiful First Shaughnessy home has a character of heritage and has been lovingly maintained by the same family for 40 years. Much of the home’s architectural and interior details have been retained from the original structure over the years. There’s not many houses quite like it.
Brought to you by your friendly REALTORS® through the MLS® System, courtesy of Ken Stef for your convenience.