Real Estate Update in False Creek Flats


December 2024 Real Estate Market Report for False Creek Flats and Surrounding Areas

December False Creek Flats' Market Report

 Disclaimer: The False Creek Flats region spans 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 include these areas in our analysis to approximate the market activity within this dynamic area.

False Creek Flats Market Summary for December 2024

The False Creek Flats real estate market showed solid activity in December, with stronger performance in the condo and townhome segment compared to detached homes.

Detached Houses:

  • Inventory: 49
  • Sales: 6
  • Sales Ratio: 12.2%

Condos & Townhomes:

  • Inventory: 171
  • Sales: 52
  • Sales Ratio: 30.4%

Detached homes in False Creek Flats remained a buyer’s market with moderate sales activity. Condos and townhomes continued to attract steady buyer interest, achieving a strong sales ratio.

Here is the breakdown of all neighbourhoods around False Creek Flats.

Strathcona (East Vancouver)

Strathcona had limited activity in detached homes but maintained stable demand in the condo and townhome segment.

Detached Houses:
  •  Inventory: 6
  • Sales: 1
  • Sales Ratio: 16.7%

Condos & Townhomes:

  • Inventory: 33
  • Sales: 7
  • Sales Ratio: 21.2%

Detached home sales were low, while attached properties experienced balanced market conditions.

Downtown Eastside

Market activity in Downtown Eastside was subdued, with no detached home activity and moderate interest in condos and townhomes.

Detached Houses:
  • Inventory: 0
  • Sales: 0
  • Sales Ratio: 0.0%
Condos & Townhomes:
  •  Inventory: 35
  • Sales: 6
  • Sales Ratio: 17.1%

While the detached home market remained inactive, the attached segment displayed reasonable demand.

Grandview-Woodland (East Vancouver)

Grandview-Woodland saw mixed results, with slow activity in detached homes but stable demand in condos and townhomes.

Detached Houses:
  • Inventory: 27
  • Sales: 3
  • Sales Ratio: 11.1%
Condos & Townhomes:
  • Inventory: 30
  • Sales: 4
  • Sales Ratio: 13.3%

The detached market struggled with demand, while attached homes saw moderate buyer interest.

Hastings (East Vancouver)

Hastings displayed a strong contrast between detached and attached home activity.

Detached Houses:
  • Inventory: 6
  • Sales: 1
  • Sales Ratio: 16.7%
Condos & Townhomes:
  • Inventory: 7
  • Sales: 6
  • Sales Ratio: 85.7%

While detached homes saw limited activity, condos and townhomes performed exceptionally well with the highest sales ratio in the region.

Mount Pleasant (East Vancouver)

Mount Pleasant remained highly competitive, with moderate detached home activity and strong demand for condos and townhomes.

Detached Houses:
  • Inventory: 10
  • Sales: 1
  • Sales Ratio: 10.0%
Condos & Townhomes:
  • Inventory: 66
  • Sales: 29
  • Sales Ratio: 43.9%

The attached market continued to thrive, while detached homes had a more measured performance.

Price Analysis: Vancouver East vs. Vancouver West

False Creek Flats is part of Vancouver East, which remains a more affordable option compared to Vancouver West. Here’s a breakdown of December 2024 benchmark prices and their respective cha

Vancouver East Market Highlights:

  • Detached Homes: The benchmark price for detached homes in Vancouver East was $1,855,700, reflecting a slight 0.4% decrease from the previous month but a modest 0.3% increase compared to the same time last year.
  • Townhouses: The benchmark price for townhouses in Vancouver East was $1,147,000, reflecting a 2.6% increase from the previous month and a notable 7.2% rise year-over-year.
  • Condos: The benchmark price for condos in Vancouver East was $690,200, reflecting a slight 0.3% decrease from the previous month but a modest 0.5% increase compared to the same time last year.

Vancouver West Market Highlights:

  • Detached Homes: The average price of detached homes in Vancouver West is currently $3,374,900, reflecting a slight decrease of 0.3% over the past month. Year-over-year, the price has dropped by 2.5%.
  • Townhouses: Townhouses in the area are priced at an average of $1,527,200. Over the last month, prices have increased by 0.5%, and compared to one year ago, townhouses have seen a substantial rise of 10.0%.
  • Condos: Condos in Vancouver West are currently priced at an average of $819,400. Prices have fallen by 0.8% over the past month, but on a year-over-year basis, the increase is more modest at 1.0%.

As a budget-friendly alternative to Vancouver West, Vancouver East offers considerable savings across all property types.Detached homes in Vancouver East are nearly half the price of those in Vancouver West. Townhouses on the Eastside are roughly $380K less expensive, making them a more accessible option. Similarly, condos in Vancouver East offer a $129K price advantage over their Westside counterparts, reinforcing the value of Eastside real estate.

Explore Properties for Sale in False Creek Flats:

False Creek Flats features a variety of properties to fit different budgets and lifestyles. Our website filters listings exclusively within False Creek Flats, ensuring only relevant properties are shown.

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False Creek Flats offers a balance of affordability and urban convenience, making it an attractive option for homebuyers looking to maximize value in Vancouver’s dynamic market. Explore your opportunities today!


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