Kitsilano’s condo and townhouse real estate market was in a strong Seller’s market in December. The Kitsilano neighbourhood was the third strongest on the Westside last month with a list to sales ratio of 86%, down from November’s 106% ratio. Here’s the breakdown for condo’s & town homes on Vancouver’s Westside in December:
- Overall a strong Sellers market at 44% list to sales ratio.
- The greatest demand was the same as last month with homes priced between $500k-$600K.
- Homes are selling on average 1% above list price, down from 2% last month.
- Buyer’s Best Bet: Homes between $2.25M to $2.5M, Kerrisdale neighbourhood & minimum 4 bedroom properties
- Seller’s Best Bet: Selling Homes in Fairview and Kitsilano up to 1 bedroom properties
Between November and December this year inventory and total sales dropped significantly, while benchmark sale prices edged up.
Kitsilano’s single family home real market is in a Seller’s market but leaning towards more balanced conditions. The Kitsilano neighbourhood was the strongest on the Westside in December with a list to sales ratio of 21%.
Here’s the breakdown for single family homes on Vancouver’s Westside in December:
- Overall a balanced market with a 8% sales to list ratio.
- Most active price band is $2M to $2.25M
- Homes are selling at list price
- Buyer’s Best Bet: Homes between $2.75 to $3M, $4.5M+ in Dunbar Village, and 5 to 6 bedroom properties
- Seller’s Best Bet: Selling Homes in Kitisilano and up to 2 bedroom properties.
Between November and December and sale prices were generally flat, while total sales and inventory decreased.
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*Buyer’s Market 1-11%, Balanced Market 12-20%, Seller’s Market 21% and up
All stats derived from Dean Wegman & SnapStats.