Kitsilano condo inventory & sales up in March while house inventory down

 Condos & Townhomes - Kitsilano condo inventory increases in March to highest levels in over a year

Vancouver’s neighbourhood of Kitsilano experienced strong sales activity in the spring cycle though inventory reached the highest levels seen in 13 months. The greatest demand remains for one bedroom condos under $500K.

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 26% list to sales ratio, resulting from 94 listings and 24 sales in March. The Fairview condo market was the most active on the Westside last month.  

The BIGGER picture 

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

Overall a balanced market at 18% list to sales ratio (1.8 out of 10 selling rate) The most active price range was for homes priced between $400k-$500K with a 50% list to sales ratio.
Homes are selling on average at 1% below list price.
Buyer’s Best Bet: Homes between $1.75M to $2M, Cambie, South Granville & minimum 4 bedroom properties
Seller’s Best Bet: Selling Homes in Fairview, Mount Pleasant, Point Grey, and up to 1 bedroom properties

In March this year condo and townhouse inventory increased by 15%,  benchmark prices decreased by 7%, while total sales increased by 24%.

Single family Homes - Home prices up by 4% on Westside in March but still a Buyers market for most Westside neighbourhoods 

Kitsilano’s single family home market was in Seller’s market with a 23% list to sales ratio. There were 40 listings with 9 sales in the month of March.

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

Overall a buyers market with a 10% sales to list ratio (1 in 100 homes selling rate)
  Most active price band is $2M to $2.25M with an avg 64% list to sales ratio.
Homes are selling on average 3% below list price.
Buyer’s Best Bet: Homes $5M+ Shaughnessy, Southlands, and minimum up 2 bedroom properties
Seller’s Best Bet: Selling Homes in Kitsilano, Quilchena, and up to 3 to 4 bedroom properties 

In March single family home inventory on Vancouver’s Westside decreased by 4%, benchmark sale prices increased by 4%, and solds increased by 45% when compared to February. 

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

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All stats derived from Dean Wegman & SnapStats.