Kitsilano Houses: Market Update for November 2013

07.11.2013

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All About Kitsilano Houses and the Real Estate Market

Detached Houses in Kitsilano saw a decrease in activity this past month, though much of that decrease is thanks to a lack of inventory in certain price brackets (namely $1.2 to $2-million). The days on market increased considerably (a high number of days on market is typical for luxury houses), and the average and median prices dropped slightly. Detached Houses in Kitsilano is a small market in itself, so slight changes in inventory and prices can lead to large variations in the month-to-month statistics. The good thing? Kitsilano Houses will never lose their allure.

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The least expensive sale was an investment property/renovation project at 7th and Balaclava. The home has 3 two bedroom suites. The home hasn’t been upgraded in years, it’s still livable (especially as rental properties). The home sits on a RT-7, 33′ x 120′ lot allowing for a duplex to be built in it’s place. The home was listed for $1,198,000 and sold for $1,150,000 2 days later.

One of the most expensive sales was a Kitsilano house at Waterloo and 11th Ave. This 2012 built home has 2750 sqft, 5 bedrooms, 5 bathrooms, a legal basement suite and contemporary finishings. The home was listed for $2,198,000 and sold 102 days later for $1,920,000.

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As always, let us know if you have any questions about buying or selling your Kitsilano House. We have years of experience in the market and a professional and unbeatable marketing plan.

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