Kitsilano Detached House Market Update – February 2015

09.02.2015

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The Kitsilano Detached Market was slow in January, with only 2 sales despite higher inventory. The sales were two very different properties – with one being a four unit investment home, and the other being a single family home. Every home is priced above $1.4-million, with at least 9 units currently for sale for over $3-million. Note that the stats in the above chart are incorrect for January 2014. The median price should be closer to $2-million, and it should state only 9 sales occurring in that time period. This market is fairly resilient and will increase as the weather warms up.

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Recent Kitsilano House Sales

kitsilano_house_sale_cheap_jan2015The least expensive house sold in Kitsilano last month was a 4 unit home at Mackenzie and West 10th. This home has an owner’s suite on the main and ground level, and three rental suites – two on the top floor and one on the ground floor. The owner has separated laundry from the tenants as well as the large back and front yards. The home has had a a lot of updates over the years, yet it still maintains nice wood detailing. Listed for $1,658,00, this home sold 8 days later for $1,648,000.

kitsilano_house_sale_expensive_jan2015The most expensive Kitsilano detached house sold in January was this extensively renovated (in 2007) 1928-built character home at West 11th and Dunbar. Even with the renovations, the home retains a lot of it’s character details in the wood, windows and floor plan. The homes sits on a corner lot giving it great exposure and light, and has 2700 sqft of interior space for the owners (there is no suite). The home was a court ordered sale (which entails a slightly different buying process than normal). Listed for $1,999,000, this home sold 25 days later for $1,975,000.

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