Kitsilano Condo Market Update: May 2014

04.05.2014

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The Kitsilano condo market saw a slight drop in sales, and also a drop in the median price to $433k and the average price to $475k. The absorption rate is at 14% which is lower than the city average, but still quite strong. The most active markets are the sub-$300k market, along with the $400k to $700k condo market (the large 1 bedrooms and 2 bedroom units). The average days on market has dropped to only 18 days, with Buyers eager to purchase when good units are listed.

As the summer months approach, you’ll see a lot of interest in Kitsilano thanks to the type of lifestyle it evokes in the warm weather. We have had a lot of success with the listings we’ve had in Kitsilano – thanks to our great marketing plan and exposure – so let us know if you’re interested in selling your home.

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Recent Kitsilano Condo Sales

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One of the most expensive Kitsilano condos sold last month was a 2 bedroom, 2 bathroom unit in Mozaiek in Arbutus Walk. This penthouse has 1203sqft of living space, 2 parking spots, a storage locker, a wrap around balcony and a southwestern exposure. It was listed $968,000 and sold 10 days later for $980,000.

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One of the least expensive Kitsilano condos sold last month was a 477 sqft studio apartment in Connaught Place in Arbutus Walk. Built in 2000, this unit has in suite laundry, 1 parking and 1 storage locker. The unit has laminate floors, and a balcony. Though it could use some modern updates, it’s in very good shape. It was listed for $299,000 and sold 55 days later for $300,000.

View all 1 bedroom condos and 2 bedroom condos for sale in Kitsilano.

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