Kitsilano condo market update
The Vancouver Real Estate Market analysis for condos in Kitsilano saw sales more than double in February, compared to January 2009. The past February saw the highest number of sales in Kitsilano since July 2008. The average price for sold condos dropped to $417,000 and the average days on the market for sold condos is at 38 days.
February also saw that the entry level market is driving real estate in Kitsilano with 23 of 28 sales under $500,000. The condo supply is down from 9 months to 3.8 months and the condo's over the $660,000 range are moving very slowly.
The offers a fantastic opportunity for those living in one bedroom condos in Kits who want to upgrade to a larger two bedroom condo in Kits.
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.
Labels: condos for sale in Kitsilano, Kitsilano real estate, kitsilano real estate agents, market update Kitsilano
