Kits condo market inventory is at the lowest level since we started this analysis 18 months ago with only 1.5 months of inventory. Vancouver real estate market analysis for Kitsilano condos saw Aug sales down slightly and equal to July. Listings dropped to a low of 71. Average price for solds up again to $464,131 and is higher than any month since June last year. Average Days on the market for sold condos at a low of 18, equal to Feb 2008. List price to sale price ratio steady at 100%. A whopping 70% of the sales sold at or above list. Average $ psf for sold condos up to $586, the highest for the last year. August saw 25% of the sales over $500,000. All listings under $500,000 selling. Only 6 listings didn’t sell or were cancelled. As we move into Fall and experience an increase in demand there will be a further increase in prices, unless the inventory opens up.
Listings- 71 . 4 listed under $300,000. 13 listed between $300,000 and $400,000. 25 listings between $400,000 and $500,000. 13 listings between $500,000 and $600,000 and 15 listed between $600,000 & $1M and 1 listed over $1M. Currently there are no studios listed, 34 are one bedrooms and 35 are 2 bedrooms and 2 are 3 bedrooms.
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
Sales -45. 3 sold under $300,000. 13 sold between $300,000 and $400,000. 16 sold between $400,000 and $500,000. 6 sold between $500,000 and $600,000 and 7 sold over $600,000. The highest was $765,000
25 were one bedrooms, 3 studios and 14 were 2 bedrooms, 2 were 3 bedrooms
Least expensive – $273,000
Supply - everything selling under $500,000. 2 months between $500,000 and $600,000 and just over 2 months for condos listed over $600K.
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
2008 Average Days on the market – January 27, February 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
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
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
Sale price to list price ratio – Dec 95%, Nov 95%, Oct 96%, Sept 97%
Jan’09 - 95%, Feb 95%, Mar 96%, Apr 98%, May 98%, June 101%, Jul 100%, Aug 100%
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This post is wonderfull. I subscribed in a heartbeat.
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