Vancouver Housing Market Analysis – Kitsilano October 2008 | Vancouver Reflections - Shining the Light on Vancouver Real Estate

Vancouver Housing Market Analysis – Kitsilano October 2008

November 14th, 2008 Categories: Kitsilano

Kits graph Oct 08

Vancouver real estate market analysis for Kitsilano condos saw sales for the month of October down to 15 from 24 in September. Listings flat at 187, versus 184 for September. Average price for sold condos increased from $408,,159.to $427,850. Average Days on the market increased from 32 to 36. October saw a bottom end market with the majority of sales under $500,000 in this hood. Kits condo supply up from seven and a half months to 12 months. The price range between $500,000 and $600,000 and over $700,000 is has the most inventory. Kitsilano prices are off 12% since January.

Listings 187 - 8 listed under $300,000. 58 listed between $300,000 and $400,000. 58 listed between $400,000 and $500,000. 28 listed between $500,000 and $600,000. 21 listed between $600,000 and $700,000. 14 listed over $700,000.

Listings Oct 187Sept 184, Aug 166, July 159, Jun 157, May 145, Apr 130

Sales – 15. Five sold between $300,000 and $400,000. 7 sold between $400,000 and $500,000. One sold between $500,000 and $600,000 and two between $600,000 and $700,000.

2008 SALES – Jan 26, Feb 44 , Mar 20, Apr 42, May 45, June 35, July 38, August 25, Sept 24, Oct 15

Supply – no market in October for Kits condos under $300,000. 11 months supply for condos listed between $300,000 and $400,000. 8 months supply for condos listed between $400,000 and $500,000. 28 months between $500,000 and $600,000. 10 months supply between $600,000 and $700,000 and no market at present for those over $700,000.

Days on the market - January 27, February 18, March 18. April 28, May 28, June 28, July 43, August 37, Sept 32, Oct 36

Average 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

Average Selling Price pr sq ft $518, Sept $555

Sale price to list price ratio – 96%, Sept 97%

Viewmy other posts for Kitsilano or search for Kitsilano listings

When you’re ready to buy or sell Kitsilano or Vancouver real estate, contact Maggie, an experienced agent marketing Vancouver real estate since 1981

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This entry was posted on Friday, November 14th, 2008 at 9:00 am and is filed under Kitsilano. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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Hazen Colbert said:

Maggie,

There is a disconnect between the chart and your analysis. The chart clearly shows a decline in price from September to October, but your analysis refers to an increase.

In addition, your chart shows that prices are down about 11-12% (from an average of about $455M to $404), but you reference a 6% drop in the text.

Regards,

Hazen

# 20 November 2008 at 6:16 pm