Kitsilano Condo Market: June 2014

19.06.2014

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Kitsilano Real Estate News: Condos Edition!

Take a look at the difference in Kits Condo sales, April vs May: sales more than doubled! This might be the Kitsilano Effect, where everyone wants to be near the beach when the sun starts shining. It helps that the sun makes every condo show nicer, and makes outdoor space that much more intriguing. The average and median price are $450k, while the price per sqft is sitting at $584/sqft. Typically any renovated unit, well maintained building or centrally located unit will be above the $600/sqft. The most active market is the $300k to $500k price bracket, where you’ll find the 1 bedroom units and some more affordable 2 bedrooms units.

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Recent Condo Sales in Kitsilano

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One of the least expensive condo sales in Kitsilano last month was one of our Team’s listings at 1989 Dunbar. This 543 sqft 1 bedroom apartment has space for a proper living and dining room, covered balcony, dishwasher, in suite laundry, parking and storage. The building was also built with rainscreen technology and is just off West 4th Ave, near a grocery store, restaurants and bars. It’s not often you can find all of these features in a condo for $300,000, so the Buyer took advantage of the chance. It was listed for $299,800 and sold 24 days later for $292,000.

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One of the most expensive Kitsilano condo sales was a 1200 sqft 2 bedroom, 1.5 bathroom unit in Carriage House at 3rd and Balsam. This 7th floor condo has ocean and mountain views from most rooms, along with many interior updates. The building is unusual in that it offers an outdoor pool and tennis courts. The unit was listed for $829,900 and sold 79 days later for $800,000.

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