Hey Live Kits Readers!
Whether you believe it or not, September is almost over and Fall is just around the corner. The market it beginning to pick up again, with new inventory and re-listings coming in hot. So apartment hunters, let’s re-cap the end of the summer season by reviewing the Kitsilano condo market with all the August stats.
The Median Sales price for the month of August was $690,000. This was a decline from July, with a difference of about $55,000. The sales to active ratio however had a huge spike to 140% in August, doubling what it was in July at only 70%.
Number of days on the market for August listings ranged, but averaged out to 14 days per listing. There were 34 new listings (which dropped by almost half as there were 60 in July), and the total inventory showed similar statistics. Sales have bounced around a bit this year in the Kits condo market, with a total of 45 in August. This may only be a small increase from sales in July but significantly different compared to the condo sales in the Spring. For example March had only 25 this year. Price per square foot dropped slightly in August to $887.
Be sure to check back in at the end of this month to see how the market is shifting and which statistics are changing. If you’re looking to buy or sell your condo, now’s the time! We are here to help you throughout the entire process, regardless if you only have one question to ask or if you’re ready to list- we’re just a phone call away!
Interactive Kitsilano stats graphs below.