January 2024 Real Estate Market Update for Vancouver Eastside (Houses)
4 June, 2024 by
January 2024 Real Estate Market Update for Vancouver Eastside (Houses)
Erin Price Emery

๐Ÿกโœจ Exciting News in the East Vancouver Real Estate Market (Houses/Detached)! ๐Ÿ”‘

The latest market report for January 2024 brings some fantastic updates for both buyers and sellers. ๐Ÿ ๐Ÿ’ฐ

๐ŸŒ Balanced Market: The market is looking pretty balanced, with a sales ratio averaging 15%, translating to 1.5 out of 10 homes selling.

๐Ÿ’ฒ Price Insights: Homes in East Vancouver are going for an average of 1% below the list price. While this may not seem like a big difference, it is still something to keep in mind while buying or selling a home.

๐Ÿ“ˆ Hot Price Range: The sweet spot this past month has been homes priced between $1.25 million to $1.5 million, boasting a high sales ratio of 70%. Looks like a seller's market in this range, so keep an eye out!

๐Ÿก Buyer's Picks: For potential buyers, the Grandview Woodland area is taking the spotlight. With a benchmark price of around $1.8 million (a 6.5% increase from last year), it's a popular choice. Buyers are particularly keen on the $2.25 million to $2.5 million range this month.

๐Ÿ’ผ Top Selling Areas: If you're thinking about selling, Hastings and Fraser are leading the way with impressive sales ratios of 67% and 63%. But guess what? South Marine takes the crown this month! There were two listings in this area, and both of them sold! The benchmark price sits around $1.4 million.

Below is the neighborhood, the benchmark price and the one year change. โฌ‡๏ธ

  • Collingwood $1,715,800 + 9.0%
  • Fraser $1,858,100 + 14.9%
  • Fraserview $2,325,900 + 19.0%
  • Grandview Woodland $1,834,900 + 6.5%
  • Hastings $1,708,600 + 3.3%
  • Hastings Sunrise $1,798,500 + 3.6%
  • Killarney $1,986,200 + 13.0%
  • Main $2,047,500 + 15.0%
  • Mount Pleasant $1,907,500- 1.2%
  • Renfrew Heights $1,745,000 + 7.3%
  • South Marine $1,422,700 + 13.5%
  • Strathcona $1,658,900 + 2.0%
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