Summer seeing hot Kitsilano condo market and rising demand 

Kitsilano’s condo and townhouse market continued to be the most active of all Westside neighbourhoods for the third consecutive month in July. Like many neighbourhoods across Metro Vancouver the pent up demand that has accumulated during the pandemic is resulting in more activity in Kitsilano each month as lock down restrictions have been eased.  

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

In July Kitsilano had a 54% list to sales ratio (up from 52% month prior), resulting from 96 listings and 52 sales.

What does it mean?

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

The BIGGER picture

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

  • Overall a Sellers market with a 23% list to sales ratio, up from 22% in May (a 2.3 out of 10 selling rate)
  • The most active price range was for homes priced between $500k-$600K.
  • Homes are selling on average at 100% of list price.
  • Buyer’s Best Bet: Homes between $1.75M to $2M, Dunbar, Marpole, SW Marine and 3 bedroom properties.
  • Seller’s Best Bet: Selling Homes in Kitsilano, Mount Pleasant, and Point Grey and up to 1 bedroom properties

In July this year condo and townhouse inventory rose by 10%, sale prices decreased by 5%, while total sales increased by 15% when compared to June. 

vancouver westside real estate trends

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.