Kitsilano Townhouse inventory is at the lowest it’s been in the last 5 years (13 properties), which is a big difference compared to the 44 properties we saw for sale back in February 2015. Median and average sale price are in the low $900,000’s which is only a slight increase of the last year. The sales to active ratio currently sits at 39%, which is quite strong, but down from the 84% we saw in June 2015.
Here are some actual REBGV stats detailing the Total Inventory and Average Sales Price of townhouses and half duplexes in Kitsilano. Unfortunately these graphs can’t be separated into townhouses and half duplexes, but you can assume that half duplexes are on the higher end of the the price range.
(Orange is 1 bedroom condos, Green is 2 bedroom properties, Blue is 3 bedroom properties)
Average Sales Price:
The half duplex and townhouse market in Kitsilano will remain busy as Buyers move up from their 2 bedroom condos into larger 3 bedroom family sized homes. There isn’t enough inventory to satisfy Buyers, and given that duplexes only have two units and townhouse complexes are typically boutique, this lack of “family focused” units has created a logjam in the market. Hopefully the City of Vancouver can relax their requirements for zoning and development to allow for more larger townhouses and duplexes with shorter wait times on development.
Don’t hesitate to contact us if you have any questions about the market – you need to be knowledgable and prepared to buy if you’re going to be successful.