Disclaimer: The False Creek Flats region lays across parts of Strathcona, Downtown Eastside, Grandview-Woodland, Hastings, and Mount Pleasant (Eastside) neighbourhoods. To provide a snapshot of the real estate market trends around False Creek Flats, we have included these areas in our analysis to extrapolate this area’s market activity as closely as possible.
The real estate market in and around False Creek Flats saw a range of activity across different neighbourhoods in October 2024. While some areas demonstrated strong demand, others showed signs of a slower market, especially in detached homes. Below, we break down the inventory, sales, and sales ratios for each area, then compare these figures to overall trends within False Creek Flats and the Vancouver Westside.
False Creek Flats Market Summary for October 2024
Taking a broader view, the False Creek Flats area as a whole displayed moderate market activity for both property types:
Detached Houses:
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- Inventory: 66
- Sales: 13
- Sales Ratio: 20%
Condos & Townhomes:
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- Inventory: 283
- Sales: 66
- Sales Ratio: 23%
The detached home market in False Creek Flats had a relatively low sales ratio, indicating ample supply and moderate demand. The condo and townhome market in False Creek Flats showed more stability, with a balanced sales ratio highlighting steady buyer interest.
Here is the breakdown of all neighbourhoods around False Creek Flats.
Strathcona (East Vancouver)
In Strathcona, the market showed balanced to strong activity in both detached homes and condos:
Detached Houses:
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- Inventory: 9
- Sales: 6
- Sales Ratio: 67%
Condos & Townhomes:
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- Inventory: 44
- Sales: 11
- Sales Ratio: 25%
Strathcona had a robust market for detached homes, with a high sales ratio indicating strong buyer demand. With a balanced sales ratio, Strathcona’s condo market showed moderate interest among buyers.
Downtown Eastside
The Downtown Eastside market was noticeably cooler, with low activity, particularly in condos and townhomes.
Detached Houses:
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- Inventory: 0
- Sales: 0
- Sales Ratio: 0%
Condos & Townhomes:
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- Inventory: 59
- Sales: 4
- Sales Ratio: 7%
No sales or listings of detached homes in October. This neighbourhood’s condo and townhome market showed limited buyer interest.
Grandview-Woodland (East Vancouver)
Grandview-Woodland displayed mixed results, with steady interest in condos but a slower market for detached homes.
Detached Houses:
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- Inventory: 32
- Sales: 4
- Sales Ratio: 16%
Condos & Townhomes:
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- Inventory: 40
- Sales: 14
- Sales Ratio: 35%
Detached homes here saw lower demand, with a high inventory relative to sales. Condo and townhome sales were stronger, showing active buyer interest and relatively balanced conditions.
Hastings (East Vancouver)
Hastings had one of the strongest condo and townhome markets in the region, though detached homes saw much less activity.
Detached Houses:
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- Inventory: 10
- Sales: 1
- Sales Ratio: 10%
Condos & Townhomes:
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- Inventory: 21
- Sales: 10
- Sales Ratio: 48%
Detached homes in Hastings faced a slow market with only a small number of sales. The condo and townhome market was quite active, with a high sales ratio suggesting healthy demand.
Mount Pleasant (East Vancouver)
In Mount Pleasant, detached homes saw minimal activity, while the condo and townhome market was more balanced.
Detached Houses:
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- Inventory: 15
- Sales: 1
- Sales Ratio: 7%
Condos & Townhomes:
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- Inventory: 119
- Sales: 27
- Sales Ratio: 23%
The market for detached homes here was sluggish, with only one sale recorded. The condo and townhome sector was more active, with a balanced sales ratio reflecting steady demand.
Price Analysis:
In October 2024, market trends were divergent between Vancouver East and Vancouver West, with differences across property types and price dynamics.
Vancouver East Market Highlights:
- Detached Homes: The benchmark price reached $1,891,900, marking a 2.3% increase from September and a 1.1% rise year-over-year.
- Townhouses: Townhouse prices rose significantly to a benchmark of $1,156,400, reflecting a 5.5% increase month-over-month and a 3.6% annual rise.
- Condos: The condo market experienced a decline, with prices dropping to a benchmark of $685,500, reflecting a 3.2% monthly decrease and a 3.4% year-over-year decline.
Vancouver West Market Highlights:
- Detached Homes: Prices here were notably higher, with a benchmark of $3,369,100, but saw a 3.0% monthly decrease and a 1.9% decline year-over-year.
- Townhouses: Vancouver West townhouses saw a modest increase, with the benchmark price at $1,456,500, a 2.8% rise from September and a 1.4% annual increase.
- Condos: The condo market in Vancouver West also saw slight adjustments, with the benchmark price at $829,900, reflecting a 1.0% decrease from September and a 1.8% drop year-over-year.
Vancouver West continues to stand out as a higher-priced market across all property types, with detached homes priced at nearly double those in Vancouver East. However, False Creek Flats presents an excellent investment opportunity, offering proximity to Downtown Vancouver at a fraction of the cost compared to Vancouver West.
Explore Detached Homes for Sale in False Creek Flats:
Our website actually filters listings that are strictly within False Creek flats by a custom boundary, so nearby listings outside of it are excluded.
Discover Attached Homes for Sale in False Creek Flats:
- Check Townhomes under $1,160,000 here
- False Creek Flats Townhomes over $1,160,000 are available here.
Browse Condos for Sale in False Creek Flats:
False Creek Flats combines affordability with convenience, making it a compelling choice for buyers looking to balance cost and location.
