Vancouver Real Estate Analysis for Kitsilano
November 6th, 2009 Categories: Kitsilano, Real Estate
Listings at a record low for the year and sales at a record high. Kits condo supply dropped from 2 months in Sept to 1.6 months in October. Vancouver real estate market analysis for Kitsilano condos saw October listings flat at 80. Sales increased 25% to 50, the highest for the last 22 months, tied with July which is the highest for the year, and three times as many as October’08. The average sale price dipped to $474,000 but is higher than a year ago. Average $psf for solds $584. Average Days on the market for sold condos up slightly to 18. The last quarter have had the lowest DOM for the year. List price to sale price ratio back to 100%. A whopping 75% sold at or above list price, indicating many buyers still looking to buy. October saw 65% of the sales under $500,000. Only 5 listings didn’t sell or were cancelled, up from 2 in Sept and 6 in August. Only one of the expireds was relisted. Market needs some more listings.
Listings- 80 . 3 listed under $300,000. 27 listed between $300,000 and $400,000, 21 listings between $400,000 and $500,000. 13 listings between $500,000 and $600,000 and 15 listed between $600,000 & $1M and 1 listed over $1M. Currently there are 2 studios listed, 38 are one bedrooms and 40 are 2 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, Oct 80
Sales 50. 2 sales under $300k. 16 sold between $300,000 and $400,000. 15 sold between $400,000 and $500,000. 8 sold between $500,000 and $600,000 and 9 sold over $600,000. The highest was $875,000
28 were one bedrooms, 20 were 2 bedrooms, 2 were 3 bedrooms
Supply - 1.6 months. One bedrooms selling the best.
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, Oct 50
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, Oct 18
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, Oct $474,400
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, Oct $584
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%, Oct 100%
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