Vancouver East Side Luxury Detached Housing Market

Luxury House in East Vancouver

We constantly read in the media about the Vancouver West Side luxury housing market. What about the Vancouver East Side detached housing market in the 2 million dollar and up price range? We saw the first sale of over 2 million dollars in 2010 in the Grandview neighbourhood.  Over the course of the next 4 years from 2010 to 2014 there were a total of 11 detached houses that sold for over 2 million dollars on the Vancouver East Side. We were seeing new houses and remodelled character / heritage style homes consistently selling in the range of 1.5 million to 1.7 million range, however the 2 million dollar price point was a rare commodity. There were just a handful of buyers to cross the 2 million dollar threshold on the Vancouver East Side up until 2015. Then in 2015 everything changed and it was possible to collect enough data to analyze and assist buyers looking at purchasing a house on the Vancouver East Side above 2 million dollars. In 2015 a total of 61 detached houses sold for over 2 million dollars compared to just 4 during the previous year.

 

Number of Vancouver East Side Houses Sold for Over 2 Million Dollars by Year

2008
2009
2010
2011
2012
2013
2014
2015
2016 to date
0
0
1
2
0
4
4
61
194

 

Number of 2 Million Dollar plus Sales by Neighbourhood from 2000 to Date

  • Fraser: 1
  • Mount Pleasant: 2
  • Hastings: 3
  • Champlain Heights: 3
  • Hastings East: 4
  • Collingwood: 7
  • Victoria: 7
  • Renfrew Heights: 11
  • Grandview: 15
  • South Vancouver: 20
  • Renfrew: 24
  • Main: 41
  • Killarney: 57
  • Fraserview: 71

 

Vancouver East Side Monthly Sales for 2016 in the 2 Million Plus Category

Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov to date
11
17
21
22
42
27
26
6
12
 9
     1

The next four months will be interesting as I collect the data in this price category. As I collect more data we will be able to see if the new foreign buyer’s tax has put a significant amount of downward pressure on the luxury Vancouver East Side housing market.

For more information please email or call me.

Number of Vancouver East Side Houses Sold for Over 2 Million Dollars from 2011 to Date

graph of number of sales

Written by Don Urquhart Vancouver real estate agent since 1987