Disclaimer: False Creek Flats spans portions of Strathcona, Downtown (Eastside), Grandview Woodland, Hastings, and Mount Pleasant (Eastside). To offer a comprehensive view of the area’s real estate market trends, this report analyzes these neighborhoods collectively to provide a broader picture of activity related to False Creek Flats.
False Creek Flats Market Summary for September 2024
False Creek Flats demonstrated varied market activity in September, with a noticeable difference between the detached home and condo/townhome segments.
Detached Houses:
- Inventory: 67
- Sales: 6
- Sales Ratio: 9%
Condos & Townhomes:
- Inventory: 295
- Sales: 52
- Sales Ratio: 17.6%
Detached homes in False Creek Flats experienced limited sales, reflecting a buyer’s market with ample inventory. The condo and townhome market exhibited stronger demand, with a balanced sales ratio pointing to steady buyer interest.
Here is the breakdown of all neighbourhoods around False Creek Flats.
Strathcona (East Vancouver)
Strathcona’s detached home market showed limited activity, while the condo and townhome segment performed slightly better.
Detached Houses:
- Inventory: 12
- Sales: 1
- Sales Ratio: 8.3%
Condos & Townhomes:
- Inventory: 53
- Sales: 6
- Sales Ratio: 11.3%
The detached home segment faced slow demand, while condos and townhomes experienced a modest level of buyer activity.
Downtown Eastside
The Downtown Eastside market remained subdued, with no detached home activity and limited movement in condos and townhomes.
Detached Houses:
- Inventory: 0
- Sales: 0
- Sales Ratio: 0%
Condos & Townhomes:
- Inventory: 55
- Sales: 5
- Sales Ratio: 9.1%
The Downtown Eastside market showed minimal activity, reflecting cooler market conditions overall.
Grandview-Woodland (East Vancouver)
Grandview Woodland saw steady activity in detached homes and moderate demand for condos and townhomes.
Detached Houses:
- Inventory: 34
- Sales: 4
- Sales Ratio: 11.8%
Condos & Townhomes:
- Inventory: 48
- Sales: 7
- Sales Ratio: 14.6%
The detached home market performed reasonably well, while attached properties showed balanced conditions with steady buyer interest.
Hastings (East Vancouver)
Hastings continued to perform well in the condo and townhome segment but saw limited activity in detached homes.
Detached Houses:
- Inventory: 10
- Sales: 1
- Sales Ratio: 10%
Condos & Townhomes:
- Inventory: 25
- Sales: 9
- Sales Ratio: 36%
Hastings demonstrated strong demand for condos and townhomes, achieving the highest sales ratio among the surrounding neighborhoods.
Mount Pleasant (East Vancouver)
Mount Pleasant showed minimal activity in detached homes but a healthy performance in condos and townhomes.
Detached Houses:
- Inventory: 11
- Sales: 0
- Sales Ratio: 0%
Condos & Townhomes:
- Inventory: 114
- Sales: 25
- Sales Ratio: 21.9%
The condo and townhome market maintained a balanced sales ratio, reflecting consistent buyer demand, while the detached home segment struggled.
Price Analysis: Vancouver East vs. Vancouver West
False Creek Flats is part of the Vancouver East market, which remains a more affordable alternative to Vancouver West. Here’s a comparison of benchmark prices and changes for September 2024:
Vancouver East Market Highlights:
- Detached Homes: The benchmark price was $1,848,700, reflecting a 1.1% monthly decrease and a 2.3% year-over-year decline.
- Townhouses: Prices dropped to $1,096,100, a 5.0% monthly decrease and a 3.8% decline year-over-year.
- Condos: The benchmark price reached $708,500, a 0.5% monthly increase but a 0.7% drop compared to the previous year.
Vancouver West Market Highlights:
- Detached Homes: The benchmark price was $3,471,900, a slight 0.4% monthly increase but a 2.3% annual decline.
- Townhouses: The benchmark price fell to $1,416,300, reflecting a 2.8% monthly decrease and a 0.5% year-over-year drop.
- Condos: The benchmark price settled at $838,800, reflecting a 1.7% monthly decrease and a 0.6% drop compared to last year.
Vancouver East continues to offer greater affordability compared to Vancouver West across all property types. Detached homes in Vancouver East are priced significantly lower, at nearly half the cost of Vancouver West properties. Townhouses in Vancouver East are roughly $320K less expensive, offering value for families and professionals. Condos in Vancouver East also provide a savings of approximately $130K compared to Vancouver West, emphasizing the cost advantages of the Eastside market.
Explore all Properties for Sale in False Creek Flats:
False Creek Flats offers a diverse range of properties tailored to various budgets and preferences. Whether you’re searching for homes priced above or below Vancouver East’s benchmark prices, there are plenty of options to explore. Our website uses a precise custom boundary to filter listings exclusively within False Creek Flats, ensuring that only properties located in the area are included, while nearby listings outside the boundary are excluded.
Find Detached Homes for Sale in False Creek Flats:
Discover Attached Homes for Sale in False Creek Flats:
- Discover Townhomes under $1,100,000 here
- Find False Creek Flats Townhomes over $1,100,000 are available here.
Browse Condos for Sale in False Creek Flats:
False Creek Flats combines urban convenience with affordability, making it a desirable destination for homebuyers. Start your search today!
