Kitsilano Townhome & Half Duplex Market Update: April 2014

13.04.2014

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The townhouse and half duplex market in Kitsilano has been steady the last few months, with only slight differences in sales statistics. The number of listings and sales have remained steady, with the average and median prices landing at $905k and $857k respectively, The average number of days on market has jumped to a high 58 days. Most of the interest is in 2 bedroom units with a 26% absorption rate, while the 3 bedroom units are only sitting at a slow 7.4% absorption rate. This market has seen a lot of new builds in the last few months, and it seems those are the listings that have been sitting on the market longer than others, leading to a lot of inventory for few Buyers.

Vancouver_Graphs_Real_Estate_March_2014_Kitsilano_Townhomes

Recent Kitsilano Townhome and Half Duplex Sales

The least expensive townhome sale was a 2 bedroom, 2 bathroom, 1000 sqft unit in a fourplex at 13th and Yew St. This 2 level unit had a front and back entrance, vaulted ceilings, nice outdoor space and renovations to the kitchen and bathrooms. It was previously listed and never sold, however last month it was listed for $599,000 and sold 8 days later for $650,000 in multiple offers.

The most expensive half duplex sale was a 3 bedroom, 3 bathroom, 1411 sqft unit in a Brand New Triplex at 5th and Macdonald. Being new, the unit has many high end finishings and features. It was listed for $1,298,000 and sold 30 days later for $1,250,000.

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