Vancouver Real Estate Analysis for Kitsilano - September 2008
October 10th, 2008 Categories: Kitsilano, Vancouver Housing Market, Vancouver Real Estate
Vancouver real estate market analysis for Kitsilano condos saw sales for the month of September flat at 24, versus 25 in August. Listings up from 165 to 184. Average price for sold condos dropped from $416,240 to $408,,159. Average Days on the market dropped from 37 to 32. September saw a bottom end market with no sales above $600,000 in this hood. Seven and a half months supply of condos. Kitsilano prices are off 10% since January.
Listings 184 - 7 listings under $300,000. 46 listed between $300,000 and $400,000. 60 between $400,000 and $500,000. 32 listings between $500,000 and $600,000. 20 listed between $600,000 and $700,000. 11 listings between $700,000 and $800,000. 4 between $800K and $1 million and 4 over $1 million.
Listings Sept 184, Aug 166, July 159, Jun 157, May 145, Apr 130
Sales 24 -Vancouver real estate market for Kitsilano saw 4 sold under $300,00 (there were no sales under $300,000 prior to March), 7 sold between $300,000 and $400,000. 4 sold between $400,000 and $500,000 and 5 sold between $500K and $600K.
25% of the sales had a list price reduction. Amazingly one sold over list price and two sold at list price.
Less than 2 months supply of Vancouver real estate condos in Kitsilano listed under $300,000. Six and a half months supply for condos listed between $300,000 and $400,000. Fifteen months supply for condos listed between $400,000 and $500,000 and six and a half months supply for condos listed between $500,000 and $600,000. No market for condos over $600,000 in September 2008.
Reflections: For Vancouver real estate condos in Kits the least supply is for condos under $300,000 and then between $500,000 and $600,000.
2008 SALES - Jan 26, Feb 44 , Mar 20, Apr 42, May 45, June 35, July 38, August 25, Sept 24
Days on the market - January 27, February 18, March 18. April 28, May 28, June 28, July 43, August 37, Sept 32
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, Sept $408,159
Average Selling Price pr sq ft $555
Sale price to list price ration - 97%
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Arlington is also such a great place to stay and to enjoy..
Comment by Shane — October 11, 2008 #