If you are fortunate enough to own a home in East Vancouver you may want to consider selling this year!

There is a shortfall of homes for sale in East Vancouver and this shortfall is adding to the simple economics of supply and demand. 

The last few sales this year in the Commercial Drive area have shown that sale prices are from $1,133,000 to $1,718,000.  

Time will tell if prices continue to escalate.... 

For property owners this is all very good news, for buyers it is frustrating to bid on houses and not have the result of a purchase. 

I wish you well in your endeavours, and as always if you need assistance in Buying or Selling on the East side of Vancouver, feel free to contact me. 

THE CRAZY WORLD OF REAL ESTATE AND THE CRAZY PEOPLE WHO OVERBID

Recently a property was listed in the Commercial Drive area at 1735 E 3rd list price was $1,588,000.

This property had 4 bedrooms upstairs and a 2 bedroom legal suite.

This house was completely re built in 2012 to enhance the character, update plumbing,

electrical and replace windows.

The property sold for $1,540,000.

Here where the Crazy part of the story begins….

1737 E 2nd was listed in the Commercial Drive area for $1,499,000. This home had

1 bedroom upstairs 1bedroom on the main floor and two bedroom basement suite.

This also was a remodelled Character home.

There were 4 offers and the sale price was $1,718,000. ( No that is not a typo)

I am not sure who the Buyers were, but I can tell you that no bank would appraise the property

at this value, which means the buyers have very deep pockets and most probably are from the

“West side”.I don’t believe this is a sign of what houses will be worth this year in the

Grandview Commercial Drive area.I do believe that it will be a competitive market and if you need

some sound real estate advice, I am happy to answer your questions.

Carol Palfrey

Associate Broker

Macdonald Realty

604 818 7422

carol@macrealty.com

www.eastvanlistings.com