Chapped Lips In Kitsilano

Kits 30 Day Det 10-4-2009 10-00-22 PM

Kitsilano 30 and 60 Days

Kitsilano Detached real estate during the current past 30 day period Sept 04 to Oct 04,2009 compared to the previous 30 day Aug 04 to Sept 04, 2009 period saw total listings drop from to 61 to 56. Significant was the drop in expired mandates – zero. A loose interpretation is that everything at any price is selling. Is this a nightmare for the Kits Bears – maybe. Countering is Sept/Oct where 14 sales were recorded dipping from Aug/Sept’s 17.

Average SOLD prices ripped their way to higher levels. From Aug/Sept’s $1,311,281 UP to Sept/Oct’s $1,782,285. Why? Simple! One house asking $8,900,000 sold for a flat $8,000,000 – close to a $100,000 drop. This was enough to skew the average price.

To bring some reason to the Average, Median SOLD prices in Aug/Sept showed $1,138,000 and Sept/Oct’s came in at $1,277,500.

Will this settle down? Smarter people are trying to figure it out. We all can rest assured they will let us know. On the street some buyers are still ready to pay what ever it takes to get the job done. Those sitting on the sidelines are poised ready with buckets and mops to clean up when this Vancouver real estate market changes. Added to this are ears hearing whispers, where the word no is more prevalent.

Price reductions for the latter period were balanced by price increases at 3. Remarkable is that the average Days on Market settled at 9.

Numbers

FOR SALE

FOR SALE

This Month 30 Days

Last Month 60 Days

Total Listings

56

61

Total Listing Average Price

$1,735,532

$1,616,013

Total Listing Median Price

$1,427,450

$1,455,000

EXPIRED

Expired Listings

0

2

Average Expired Price

$N/A

$2,068,500

Median Expired Price

$N/A

$2,068,500

SOLD

SOLD

14

17

Average Sold ASKING Price

$1,819,285

$1,322,117

Average Sold Price

$1,782,285

$1,311,281

Median Sold ASK Price

$1,268,500

$1,088,000

Median Sold Price

$1,277,500

$1,138,000

HIGH/LOW

Highest List Price

$8,900,000

$4,900,000

Lowest List Price

$875,000

$849,000

Outlook

The winds of fortune and high prices continue to blow from Vancouver’s English Bay. A number of people think the summer winds of Vancouver’s market will continue to warm the sands of Jericho. Others expect the winter winds soon upon us, to be like the walls of Jericho, anticipating that the market will begin to tumble. Certainty is that chapped lips in both camps blow strong filling canvas as Vancouver’s market sails on.

*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.

**Numbers provided may vary as they are dynamically posted by the REBGV.

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

When Life Moves You - contact Larry:

*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

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