Kits condo supply up from 1.5 last month to 2 months. Vancouver real estate market analysis for Kitsilano condos saw September listings increase, for the first time since April. Sales for September dropped to an April/May level, but higher than a year ago. More sales at the high end, which pushed up the average price to $493,000 and is equal to the peak of May last year and pushed up average $ pr sq ft to $607. Average Days on the market for sold condos dropped to a low of 14, the lowest for the last 21 months, indicating desirable condos that are priced right sell fast. List price to sale price ratio dropped from 100% to 99%, indicating June-August was the least flexible on list price. Only one third of the sales sold above list, a substantial drop from August. Sept saw 60% of the sales under $500,000. Only 2 listings didn’t sell or were cancelled, down from 6 in August. The stats indicate a healthy but more balanced market.
Listings- 81 . 3 listed under $300,000. 27 listed between $300,000 and $400,000 (up from 13 last month), 26 listings between $400,000 and $500,000. 11 listings between $500,000 and $600,000 and 12 listed between $600,000 & $1M and 1 listed over $1M. Currently there is 1 studio listed, 49 are one bedrooms and 30 are 2 bedrooms and 1x 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, Sept 81
Sales 40. no sales under $300k. 14 sold between $300,000 and $400,000. 9 sold between $400,000 and $500,000. 8 sold between $500,000 and $600,000 and 9 sold over $600,000. The highest was $975,000
22 were one bedrooms, 15 were 2 bedrooms, 3 were 3 bedrooms
Supply - 2 months. All price ranges selling well.
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
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, Sept 14
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
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
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%, Sept 99%
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