Kitsilano Condo Market Update: October 2014

09.10.2014

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What’s happening in the Kits Condo Market? 

The Kitsilano Condo Market was pretty steady over last month, with the same number of listings and sales, and only a slight change in prices. The median price rose, but the average price dropped, thanks to a large number of sales hovering between $300,000 and $500,000. As expected, the price per square foot is just over $600/sqft. There isn’t a lot of inventory right now, but great new listings can come out at any time – if you’re looking to buy, it’s best to be prepared financially and emotionally so you can jump on a good home when it comes up.

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Recent Kitsilano Condo Sales

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One of the least expensive condo sales in Kitsilano last month was this studio unit in Deseo – a 2003 built building (with rain screen technology) in Arbutus Walk. This unit has a south facing patio, insuite laundry, hardwood floors and it comes with 2 open parkings spots and a storage locker. Rentals are allowed without restrictions, making this a great investment unit. It was originally listed for $368,000, and after a few price drops, it was sold for $293,000 142 days later.

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One of the most expensive condos sold in Kitsilano last month was this 2 bedroom, 2 bathroom, 1053sqft unit in Pinnacle Living at Maple and Broadway. This northeast corner unit has a huge, private, roof top patio with fantastic views of the city and mountains. Pinnacle Living is a 2012 built condo that also offers air conditioning, a gym, clubhouse and modern finishings. Listed for $1,059,000, this unit sold 14 days later for $1,038,000.

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