Kitsilano condo market still strong in March but market overall showings signs of slowing

Kitsilano’s condo and townhouse real estate market has show signs of cooling in March. Kitsilano remained one of the strongest Westside neighbourhoods to be selling a condo or townhome with a list to sales ratio of 70%, down from 79% the previous month.

Here’s the breakdown for condo’s & town homes on Vancouver’s Westside in March:

• Overall a strong Sellers market at 48% list to sales ratio.

• The most active price range was for homes priced between $500k-$800K.

• Homes are selling on average 1% above list price.

• Buyer’s Best Bet: Homes between $1.75M to $2M, Marpole, Shaugnhessy & minimum 3 bedroom properties

• Seller’s Best Bet: Selling Homes in Point Grey and up to 1 bedroom properties

In March this year inventory and sales rose while benchmark prices dropped slightly for the second month in a row.

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*Buyer’s Market 1-11%, Balanced Market 12-20%, Seller’s Market 21% and up.

All stats derived from SnapStats and Dean Wegman.