Kitsilano – A Vancouver Neighbourhood
Posted November 5th, 2009 in Kitsilano, Neighbourhood SnapShot | 
Kitsilano 30 and 60 Days
Kitsilano Detached real estate during the current past 30 day period Oct 5 to Nov 04,2009 compared to the previous 30 day Sept 04 to Oct 04, 2009 period saw total listings drop from to 56 to 52. Expired listings are up from zero to two. Sales dropped from 20 to 14.
Average SOLD prices experienced the anomaly commonly associated with Averages – the skew! One property that sold for $8,000,000 pushed the numbers out of anticipated form. The effect of that sale is that Sept/Oct’s average sale price of $1,889,550 is higher than Oct/Nov’s $1,214,178. The one sale skewed the average price.
With some irony the single sale was a sufficiently high to also place the Median SOLD price into disarray. Sept/Oct’s Median Sold price registered in at $1,369,000 whereas Oct/Nov’s came on the ledger at $1,224,900. Of course, this is contrary to the overall market as it witnessed a substantial overall price increase. The aberration in Kitsilano will need a little more time to settle back into a rhythm.
There were 8 price reductions in the current period. Average Days on Market rests at 19 days.
Numbers
FOR SALE
| FOR SALE |
This Month 30 Days |
Last Month 60 Days |
| Total Listings |
52 |
56 |
| Total Listing Average Price |
$1,560,607 |
$1,794,226 |
| Total Listing Median Price |
$1,399,450 |
$1,544,444 |
EXPIRED
| Expired Listings |
2 |
0 |
| Average Expired Price |
$1,689,000 |
$N A |
| Median Expired Price |
$1,689,000 |
$N A |
SOLD
| SOLD |
14 |
20 |
| Average Sold ASKING Price |
$1,203,778 |
$1,977,800 |
| Average Sold Price |
$1,214,178 |
$1,889,550 |
| Median Sold ASK Price |
$1,174,000 |
$1,341,500 |
| Median Sold Price |
$1,224,950 |
$1,369,000 |
HIGH/LOW
| Highest List Price |
$3,288,000 |
$3,288,000 |
| Lowest List Price |
$899,900 |
$899,900
|
*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.
How does 1 high sale affect the median? The median should be isolated from this, especially with a sample size of 20.
Excluding the $8M sale from Sept, the average price is $1.568M. That’s lower than $1.890M average sold price yet not reflective of the $1.369 median sold price.
In conclusion, a few expensive homes sold in Sept, shewing the results, making any MoM trend analysis moot.
Chris,
You are doing the analysis. I’m just supplying the numbers. But you are right, in both cases it’s moot.