January is off to a solid start across our market in Vancouver, in particular the Olympic Village. The average price per square foot in Olympic Village increased in January by 6.2% from $1082psf to $1115psf. Buyers and investors alike still favour the area and multiple offers seem to have returned. There are currently 40 active listings in the Olympic Village. There were a total of 20 sales in the month of January. 12 one bed units sold with an average sales price of $703,525 which is indicative of the area really holding its value. The remainder 8 sales were 2 bed units and one 3 bed unit averaging $1,562,250.
One of the stand out sales in January was the sub-penthouse unit at Canada House located at 181 Athletes Way. Concierge service, a private double garage and over 250sf of outdoor space over 3 patios make this a truly luxurious property.
It’s a great time for sellers to consider listing homes in the Olympic Village. With the low interest rates into the foreseeable future, buyers are out looking for great properties. And as we move into the spring market and the weather improves, sellers should also have more choice.
For the buyers out there who might be considering a move into this dynamic community, please reach out. It’s a great time to lock into a low interest rate with a great mortgage broker (please email me if you’d like a great referral!).
If you’d like to get together to discuss the recent activity in the Olympic Village, please reach out! Always happy to meet for a coffee.
Stilhavn Real Estate Services