The Kitsilano Detached House Market had a similar amount of inventory between December and January, though I expect that number to increase as we get closer to the Spring. The average sales price is at $2.97-million while the median sits at $2.79-million. The sales to active ratio is at 58% which is a strong Seller’s market.
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Here are some actual REBGV stats detailing the Total Inventory and Average Sales Price of houses in Kitsilano. I separated the graphs this month into existing properties and new construction so you get a sense of how the different types of property perform in the market.
(Orange is existing properties, Green is new construction)
Total Inventory – New Construction vs Re-Sale:
Average Sales Price – New Construction vs Re-Sale:
Sellers: Contact us if you’re interested in selling your property. Proper marketing, presentation of the property and negotiation techniques become very important in a market this busy.
Buyers: You need to be knowledgable, prepared and quick to move if you want to be successful in this market. Contact us to get started.
Don’t hesitate to contact us if you have any questions about the market.