Vancouver’s Kitsilano condo neighbourhood saw sales for the month of June drop from 45 to 35 and listings increase from 145 to 157.
Listings 157 - of those 57 have had price reductions. 92 are listed under $500,000. 57 listed under $1 million, 5 listed between $1 and 2 million and 1 over $3 million.
Sales 35 - 13 had price reductions. 29 sold under $500,000 (only 3 months supply) and 6 sold between $500,000 and $680,000 (9 months supply). There were no sales above $680,000. 4 sold at list price and 2 sold over list price (last month 15 sold at or above list price). The inventory in Kitsilano is now 4 and a half months, which is up from 3 months in May.
The lease expensive 2 bedroom sold at $433,000.
2008 SALES – Jan 26, Feb 44 , Mar 20, Apr 42, May 45, June 35
Average Days on Market - 28 (24 in May)
Average Price – $398,350 ($484,029 in May and $453,583 in April). More sales at the bottom of the market reflects a lower average price.
Selling Price to List Price Ratio 98%
Average $ pr sq ft $564
Reflections - Vancouver’s Kitsilano neighbourhood remains the most under-supplied of the Vancouver condo neighbourhoods
If you are buying or selling a condo in Kits, please fill out my contact form.
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JUST LISTED AND NOT YET ON MLS – 1979 YEW (CAPERS BUILDING) 500 sq.ft east facing studio, includes parking, concrete building, pet and rental friendly. ONLY $299,000. There are only 2 listings in kits lower than this price. please fill out my contact form if you wish to view this condo. PRICED FOR A FAST SALE AND CLOSING.