Historically, the West End is Vancouver's most densified and well treed neighbourhoods. Arguably one of the most architecturally diverse neighbourhoods, not only in Vancouver but all of Greater Vancouver. The West End is seeing similar sales patterns to the rest of the condo market in Vancouver. Sales volumes are down.
One asset that the West End does provide with its 1/2 century old multifamily buildings is the ability to purchase properties with substantially more total finished sq ft. For example, the avg size of the condos in recent sales is 1,566 sq ft and there is currently 18 3BR condos for sale! this is great for expanding families that want to stay in the 'core' of downtown Vancouver. There is currently 5 3BR condos for sale under $1.6M at an avg of 1,236 sq ft and at an avg asking price of $1,148/sq ft.
Recent sales data show only 3 sales in the past 90 days, making the condo market for Sellers very competitive. The avg sell time has been 42 DOM (days on market) and at an average of $957/sq ft; this shows us that there is certainly negotiating room from listing prices. The avg sale price is $1.46M, so be ready for this price point when considering a 3BR condo market in the West End. The avg size of the condos in recent sales is 1,566 sq ft, showing us that size does matter and Buyers are choosing the largest sq ft options available.
Feel free to email Shaun for an exclusive market summary of your neighbourhood and valuation of your property.