Here is a look at what is happening in East Vancouver, Mount Pleasant market. In this first LIVE graph you can see the inventory levels of condos over the past ten years compared next to East Vancouver. If you hover your mouse over the graph, you will see the actual numbers of Active Listings (Total Inventory) as at the month you hover over.
If you look at the 10 year average, it is clear that total inventory in this area is only above 100 listings a few months. The most common over this period seems to be averaging between 80 - 90 listings.
When reviewing the monthly sales, the past three years all had similar sales volumes in October, from 20 sales (2024); 21 sales (2023); 27 sales (2022) which were all roughly 50% of the sales in (October 2021); 43 sales (2020); and 45 sales (2019).
When review the average sale price of all the condo sales, you will notice that Mount Pleasant prices are above the average East Vancouver sale price for the same period. The average price has increased just over 14% from last November.
This graph show the Active Listing to Sale Price Ratio. When the sales are under 20% it is considered a buyers market. There is currently just over five months of inventory.
With these factors in mind, it is a great time to buy.
We can anticipate that with more interest rate drops, and many of the properties coming off the market in December and January, that it will also be a great time to list your condo early 2025.