Vancouver real estate market analysis for Kitsilano condos saw sales more than double in February, compared to January. February saw the highest number of sales since July last year. Listings flat at 107 from 104 in January. Average price for sold condos down to $417,000. Average Days on the market for sold condos down to 38. List price to sale price ratio flat. February saw a bottom end market with 23 of the 28 sales under $500,000 in this hood. Kits condo supply down from 9 months to 3.8 months. No market for Kits condos over $650,000. Market definitely levelling.
Listings -107. 8 listed under $300,000. 35 listed between $300,000 and $400,000. 30 listed between $400,000 and $500,000. 20 listings between $500,000 and $600,000 and 14 listed over $600,000. Least expensive $244,000 for 453 sq.ft. studio
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
Sales -28. Three sold under $300,000. 10 sold between $300,000 and $400,000 , 10 sold between $400,000 and $500,000. Three sold between $500K and $600K and two sold over $600,000. Least expensive was $245,000 for 540 sq ft one bedroom ($453 pr sq ft) which sold for $230,000 in spring 2005. Least expensive 2 bedroom $360,000 for 870 sq.ft. Most expensive $631,000 for 1350 sq.ft. This condo last sold for $380,000 in spring 2003.
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
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
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
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
Sale price to list price ratio – Dec 95%, Nov 95%, Oct 96%, Sept 97%
Jan’09 - 95%, Feb 95%
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{ 1 comment… read it below or add one }
I see no mention that sales were down >40% from the previous year. Sorry to burst the bubble that year-over year trend will continue for the foreseeable future.
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