Kitsilano Condos Market Update: April 2014

13.04.2014

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The condo market in Kitsilano showed some positive growth last month. Between the slight uptick in sales, an increase in median price (showing more activity in higher price brackets), a 50% decrease in days on market (to 27 days) and a healthy 21% sales to active ratio – this is a good market for both Buyers and Sellers. The average and median price is $485k and $463k respectively, leading to a price per sqft of $583/sqft. Both 1 and 2 bedroom units have a high absorption rate, yet nothing over $1-million sold last month.

Vancouver_Graphs_Real_Estate_March_2014_Kitsilano_Condo

Recent Kitsilano Condo Sales

The least expensive Kits Condo sale last month was a 543 sqft, 1 bedroom, 1 bathroom unit in Sonesta at 1989 Dunbar. This unit has in suite laundry, 1 parking space, 1 storage locker, some updates and is located on West 4th Ave near shops, restaurants and a few blocks to the beach. The unit was originally listed for $315k, dropped it’s price to $299k and sold 145 days later for $292k.

The most expensive unit was a 2 bedroom, 2 bathroom unit at 1st and Balsam in Noble House. This penthouse unit has 1,055 sqft with complete updates to the kitchen, bathrooms and living space and views of the water, mountains and city. The bedrooms are separated, and there is a large pantry/laundry room off the kitchen. The unit has it’s own hot water tank, air conditioning and two storage lockers and parking spots. The unit was listed for $859,000 and sold 6 days later for $845,000.

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