Kitsilano Townhome and Half Duplex Market Update: March 2014

06.03.2014

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What’s Happening in the Kitsilano Townhome and Half Duplex Market? 

The Kitsilano Townhome and Half Duplex market saw a nice jump in sales thanks to better inventory (brand new townhomes just aren’t selling quickly in Kitsilano). There was also a drop in average and median price, which is indicative of fewer higher end sales occurring – note that the median price is $877k while the average price is $958k thanks to a few luxury homes bringing up the average. This average days on market reached a more typical 31 days.

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Kitsilano Townhome and Half Duplex Sales

One of the most expensive 1/2 Duplex sales in Kitsilano last month was a 2 bedroom, 3 bathroom, 1608 sqft home on Creelman in Kits Point. This home has mountain and water views from the balcony, vaulted ceilings, skylights and more. There is a 400+sqft patio, single garage and large crawl space. Listed for $1,329,000, this home sold 9 days later for $1,440,000.

One of the least expensive townhomes sold last month was a renovated 745 sqft, 2 bedroom, 1 bathroom home in a 7 unit complex at Vine and West 8th Ave. This home has 1 parking and 1 storage. Late last year it was purchased for $450,000 and completely renovated, so with a sale over asking price, the house flip was a success for these Sellers. It was listed for $499,000 and sold 7 days later for $525,000.

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