Kits Condos: Market Update for January 2014


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The Kitsilano Condo Market

The Condo Market in Kitsilano experienced the expected drop in listings and sales over the holidays, however, take a look at the difference in sales compared to last year! With a 40% increase over last year, which was an admittedly slow period, the market can be considered balanced. All condos sold in Kitsilano were studio, one or two bedroom units below the $1-million mark. Prices remain stable, with the median at $435,000 and the average at $467,000. The price per sqft is holding fairly steady at $603/sqft, which is a good indicator of the Kitsilano Market. Expect Kitsilano listings to increase as we get closer and closer to the Spring time.


Recent Kitsilano Condo Sales

One of the least expensive condo sales in Kitsilano last month was a 530sqft, 1 bedroom, 1 bathroom unit at Blenheim Terrace. It’s south facing, has in suite laundry, some unit updates, a storage locker and parking. The unit is currently rented for $1295/month (it’s a very popular investment building in Kits). Listed for $299,9000, the home sold 77 days later for $292,000.

One of the most expensive Kits condo sales was at Pinnacle Living on Broadway. This 2 bed, 2 bath, 946sqft unit is on the penthouse level with a private rooftop deck. The unit features city, water and mountain views., modern fixtures, air conditioning, fantastic amenities and one parking stall. Listed for $869,900, the unit sold 48 days later for $845,000.

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