Kits condos in June saw listings down, sales down, average $psf, average sold price, sale price to list price ratio all down. Days on market increased from 19 to 27 which is still good. One bedrooms selling the best and 65% of sales under $500,000. 68% of sales under $500k, up from 60% in April and 50% in March. Supply up to 4.4 months from 1.6 months in dec’09. Average sold price now equal to July’09. Sept’09 was the record highest average sold price. Only 3 months in 2009 had fewer sales than June’10. 12% of the listings expired.
Vancouver reflections – there is too high an inventory and insufficient buyers, even if your property is priced sharply it may not sell. Sellers are now having to make the tough decisions – what to do? Reduce the price, delist the property and if so, is it rentable. The inventory will eventually decrease but its going to take awhile. The market is still quite healthy but squishy.
Listings- 160 - 12 listed under $300,000, 42 listed between $300,000 and $400,000. 44 listings between $400,000 and $500,000 (down from 66 last month) 29 listings between $500,000 and $600,000 and 17 listed between $600,000 & $700,000, 17 between $700,000 and $1M and 3 listed over $1M.
2008 Listings -Dec 117 , Nov 171, Oct 187, Sept 184, Aug 166, July 159, Jun 157, May 145, Apr 130
2009 Listings – Jan 104, Feb 107, Mar 122, Apr 107, May 87, June 81, July 78, Aug 71, Sept 81, Oct 80, Nov 65, Dec 46
2010 Listings - Jan 103, feb 107, Mar 171, Apr 200, May 191, June 160
Sales . 36- 14 sold between $300,000 and $400,000 (3 sales under $300k), 9 sold between $400,000 and $500,000. 6 sold between $500,000 and $600,000, 6 sold between $600K & $700k and 1 sold over $800,000 (dow from 4 last month). Most expensive was $850,000
2 studios, 20 were one bedrooms, 14 were 2 bedrooms. In January most sales were 1 bedrooms.
Supply in months. Dec’09 – 1.6. Jan’10 3.8. Feb 3.9, Mar 3, Apr 4.2, May 3.5, Jun 4.4
2008 Sales - Jan 26, Feb 44 , Mar 20, Apr 42, May 45, June 35, July 38, August 25, Sept 24, Oct 15 , Nov 12, Dec 12
2009 Sales – Jan 11, Feb 28, Mar 48, Apr 43, May 41, June 46, July 50, Aug 45, Sept 40, Oct 50, Nov 39, Dec 18
2010 Sales – Jan 27, Feb 27, Mar 54, Apr 47, May 54, Jun 36
Expireds – Jun 23
2008 Average Days on the market – Jan 27, Feb 18, March 18. April 28, May 28, June 28, July 43, August 37, Sept 32, Oct 36, Nov 44, Dec 68
2009 Average Days on the market – Jan 68, Feb 38, Mar 35, Apr 32, May 33, June 26, Jul 35, Aug 18, Sept 14, Oct 18, Nov 26, Dec 25
2010 Average Days on Market -Jan 21, Feb 36, Mar 17, Apr 21, May 19, Jun 27
2008 Average Sale 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, Oct $427,850, Nov $408,250, Dec $440,000
2009 Average Sale Price - Jan $440,400, Feb $416,800, Mar $406,841, Apr $414,283, May $396,114, June $421,042, July 460,866, Aug $464,134, Sept $493,000, Oct $474,400, Nov $428,000, Dec $461,000
2010 Average Sale Price – Jan $433,175, Feb $487,650, Mar $473,598, Apr $482,360, May $473,240, Jun $463,257
2008 Average Selling Price pr sq ft - Dec $498 , Nov $511 , Oct $518, Sept $555
2009 Average Selling Price pr sq ft – Jan $498, Feb $511, Mar $515, Apr $519, May $523, June $557, Jul $572, Aug $586, Sept $607, Oct $584, Nov 566, Dec 572
2010 Average Selling Price pr sq ft – Jan $625, Feb 614, Mar $603, Apr $618, May $605, $601
Sale price to list price ratio 2008- Dec 95%, Nov 95%, Oct 96%, Sept 97%
Sale price to list price ratio 2009 - Jan 95%, Feb 95%, Mar 96%, Apr 98%, May 98%, June 101%, Jul 100%, Aug 100%, Sept 99%, Oct 100%, Nov 99%, Dec 98%
Sale price to list price ratio 2010 – Jan 99%, Feb 99%, Mar 99%, Apr 99%, May 99%, Jun 98%
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{ 1 comment… read it below or add one }
Kits is really amazing. With it’s trendy houses, sure many will get interested on it.
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