Kitsilano Houses: Analyzing the Real Estate Market Trends
Single Family Homes in Kitsilano faired differently then the rest of Vancouver. Listings were down over July yet there were 13 more sales (an 185% increase over July). Why the increase in sales over what should have been a slow summer? This could very well be due to the number of people visiting Kitsilano over the summer to enjoy the beaches, festivals and overall summer atmosphere in this unique Vancouver neighbourhood. The prices in July were above average thanks to a high end sale, so the average and median prices have now dropped down to a more normal range of $1.6 to $2-million.
Looking at what’s being offered in terms of Detached Houses in Kitsilano and there’s a good range with at least a few listings in each price bracket. Given that they are houses, it’s not surprising that they typically have 4 bedrooms or more (usually spread out over every level in the home). Unfortunately, MLS doesn’t specify which properties have mortgage helpers (i.e. basement suites) and which do not. This would be helpful in further analyzing the numbers.
The least expensive Kitsilano House sale was a 2274sqft home on a 33′ x 110′ lot at 7th and Blenheim which needed many upgrades – listed for $1.199-million and sold for $1.23-million after 3 weeks.
The most expensive sale was a newly built 3300sqft home at 15th and Trutch on a 39′ x 122′ lot. Everything is new and features all the bells and whistles – listed for $2.99-million and sold for $2.95-million after 2 days.