Vancouver’s Kitsilano Market Analysis August 2008
September 8th, 2008 Categories: Kitsilano, Vancouver Real Estate
Vancouver’s Kitsilano condo neighbourhood saw sales for the month of August drop from 38 to 25 and listings up slightly from 159 to 165. Average price for sold condos dropped from $439,663 in July to $416,240. Days on the market dropped from 43 to 37.
Listings 166(159 in July). Of those 44 had price reductions (vs.46 in July). 94 are listed under $500,000 and 65 between $500,000 and $1 million and 6 over $1 million. Cheapest Kitsilano studio $229,000, cheapest 2 bedroom $449,000 for 850 sq.ft.
Sales 25 - 8 had list prices reduced (vs. 14 in July). 22 Kitsilano condos sold under $500,000 and 3 between $500,000 and $850,000. There is a 4.2 month supply of condos under $500,000 and a 21.6 month supply of condos over $500,000 and none selling over $1 million. Least expensive Kitsilano sale was under $270,000.
2008 SALES - Jan 26, Feb 44 , Mar 20, Apr 42, May 45, June 35, July 38, August 25
Days on the market - January 27, February 18, March 18. April 28, May 28, June 28, July 43, August 37
Average price - Jan $449,600, Feb $486,260 Mar $451,000, Apr $ 476,452, May $492,063, Jun $ 398,350 Jul $439,663 , Aug 416,240
During August Kits condo market was in step with the rest of Vancouver’s condo market.
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[…] to Realtor Maggie Chandler, Kitsilano’s condo market is cooling off. Neighbourhood sales for the month of August dropped from 38 to 25 and listings went […]
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