Vancouver’s Kitsilano Market Analysis June 2008

July 8th, 2008 Categories: Kitsilano, Vancouver Housing Market, Vancouver Real Estate

Vancouver’s Kitsilano condo neighbourhood saw sales for the month of June drop from 45 to 35 and listings increase from 145 to 157.

Listings 157 - of those 57 have had price reductions. 92 are listed under $500,000. 57 listed under $1 million, 5 listed between $1 and 2 million and 1 over $3 million.

Sales 35 - 13 had price reductions. 29 sold under $500,000 (only 3 months supply) and 6 sold between $500,000 and $680,000 (9 months supply). There were no sales above $680,000. 4 sold at list price and 2 sold over list price (last month 15 sold at or above list price). The inventory in Kitsilano is now 4 and a half months, which is up from 3 months in May.

The lease expensive 2 bedroom sold at $433,000.

2008 SALES - Jan 26, Feb 44 , Mar 20, Apr 42, May 45, June 35

Average Days on Market - 28 (24 in May)

Average Price - $398,350 ($484,029 in May and $453,583 in April). More sales at the bottom of the market reflects a lower average price.

Selling Price to List Price Ratio 98%

Average $ pr sq ft $564

Reflections - Vancouver’s Kitsilano neighbourhood remains the most under-supplied of the Vancouver condo neighbourhoods

View my other posts for Kitsilano or search for Kitsilano listings

If you are buying or selling a condo in Kits, please fill out my contact form.

this site is updated regularly, subscribe via RSS or email

JUST LISTED AND NOT YET ON MLS - 1979 YEW (CAPERS BUILDING) 500 sq.ft east facing studio, includes parking, concrete building, pet and rental friendly. ONLY $299,000. There are only 2 listings in kits lower than this price. please fill out my contact form if you wish to view this condo. PRICED FOR A FAST SALE AND CLOSING.