Kitsilano condo market ends 2018 with strong sales activity amidst slowdown

 
Condos & Townhomes - Kitsilano condo market sees strong sales in December

Vancouver’s westside neighbourhood of Kitsilano experienced strong sales activity in December amidst a general slowdown across Metro Vancouver. This has been a continuous trend for Kitsilano’s condo market over the past 5 months. 

How do we know? List to Sales Ratio 
  • A buyer’s market has a 0-12% list to sales ratio
  • A balanced market has a 12-20% list to sales ratio
  • A seller’s market has a 21% or greater list to sales ratio

Kitsilano condo market had a 35% list to sales ratio (up from 29%), resulting from 60 listings and 21 sales in December. The Kitsilano condo market was the most active on the Westside, followed by Fairview.  

The BIGGER picture 

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



Overall a balanced market at 16% list to sales ratio (1.6 out of 10 selling rate)
The most active price range was for homes priced between $400k-$500K with a 57% list to sales ratio.
Homes are selling on average at 4% below list price.
Buyer’s Best Bet: Homes between $1.75M to $2M, Cambie, South Granville & minimum 3 bedroom properties
Seller’s Best Bet: Selling Homes in Kitsilano and up to 1 bedroom properties

In December this year condo and townhouse inventory decreased by 32%,  benchmark prices decreased by 5%, while total sales decreased 32%.

Single family Homes - Home prices up by 11% on Westside in December despite being in a Buyers market

Kitsilano’s single family home real market was in a balanced market with a 11% list to sales ratio. There were 27 listings with 3 sales in the month of December.


Here’s the breakdown for single family homes on Vancouver’s Westside in December:

Overall a buyers market with a 6% sales to list ratio (6 in 100 homes selling rate)
  Most active price band is $2M to $2.25M with an avg 30% list to sales ratio.
Homes are selling on average 2% below list price
. Buyer’s Best Bet: Homes $4M to $4.5M/ $5M+ McKenzie Heights, South Granville and minimum up top 7 bedroom properties
Seller’s Best Bet: Selling Homes in Point Grey and up to 3 to 4 bedroom properties 

In December single family home inventory on Vancouver’s Westside decreased by 23%, benchmark sale prices increased by 11%, and solds decreased by 44% when compared to November. 

Thinking of buying or selling? Over 10 years of serving clients in the Kitsilano area. 

Want a more detailed SnapsStats report for Vancouver’s Westside delivered each month? Click here to sign up for free updates to your inbox each month.  

All stats derived from Dean Wegman & SnapStats.