How’s the market? Here’s our take on Kitsilano’s real estate market in August.
Market update: The Summer is not slow in the condo and particularly 1 bedroom entry level units. The buyer demand has been very high. A few factors I believe that contribute to this are; Pricing of 2 bed + homes have reached the point where the jump is less attainable. Therefore buyers are just deciding to pull the trigger and getting into the market. A bigger factor comes in the form of interest rates. Lots of buyers are coming to the end of their 60-90 day rate holds. We are unsure of the next rate hike so some are deciding to get into the market before things change.
The MLS HPI (Home Price Index) for the average condo in Kitsilano is at an all time high of $618,000 up from $532,600 this time last year (August 2016)
Price per SQ.FT Kits vs Mount Pleasant vs Downtown
A common question I get from buyers who are open to new areas is, How does Kits stack up against Vancouver’s other popular first-time buyers neighborhoods?
What’s a 1 bedroom condo going to cost me?
Another very common question from buyers, both first-time buyers and investors.
Here we have the average 1 bedroom condo. Kitsilano Vs Mount Pleasant vs Downtown
If you have any question about getting into the market or the value of your home please contact Ben anytime – [email protected] – 604.222.2262