Kitsilano Market Update

15.07.2015

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July has been a non stop month, the seasonal summer slow down has yet to hit us here in Vancouver. Driven by low interest rates and a high demand for property, everyone is searching for there own place to call home.

Kitsilano Detached Market.

This month saw 44 new listings and 18 sales a 41% sales ratio, still a very strong Sellers Market. Days on market up 8.7% from last month. Homes in the $1,800,000 – $2,000,000 price point has had a 100% sales ratio this month.

Average sales price in down slightly by -12% from $2,412,687.

Notable sale this month:

1833-1835 Collingwood – Built 1912 – 2,979 Sq.Ft. – Asking $3,088,000 – Sold $3,100,000 –

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Kitsilano Townhomes & 1/2 Duplexes

We saw 22 listings and 21 sales this month, an incredible 96% sales ratio. Similar to the detached market, days on market are up 42% and average price has dropped -2.5% to $981,801.

On the ground we are seeing a large demand for town-homes in Kitsilano. Quality 3 bedroom town-homes are being snapped up due to being a affordable and desirable alternative to a home.

Notabel sale this month.

1965 W13th Ave – 4 bed – 4 bath – Built 2012 – 2,016 Sq.Ft. – Asking $1,798,000 – Sold $1,750,000.

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Kitsilano Condos

The condo market has been a strong one this month with  108 listings and 49 sales a 45% Sales ratio. Unlike the other two segments of the market condos are up price wise, with an average sales price of $543,813.

The hottest price point for condos this month are  $500,000-600,000 units with a 81.8% Sales ratio. The one bedroom market is very saturated with 57 listings but still a very active market place with a 45.6% sales ratio.

301-1868 W5th Ave – 2 bed – 2 bath – Built 2001- 952 Sq.Ft. – Asking $759,700 – Sold $801,000.

Notable Sale this month.

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