Kitsilano Attached – Thirty Sixty

Kits Attached 30 Day 13-12-2009 8-38-01 PM

Kitsilano Attached 30 and 60 Days

Kitsilano Attached real estate during the current past 30 day period Nov 13th to Nov Dec 13,2009 compared to the previous 30 day Oct 13 to Nov 13, 2009 period saw total listings drop from to 191 to 136.

  • Active Listing average price per square foot is $664.70
  • Active Median List price per square foot price was $648.99.
  • Expired listings are down from 11 to 5.
  • Sales dropped from 81 to 32.
  • Average SOLD ASK prices increased from Oct/Nov’s $605,007 to Nov/Dec’s $666,075.
  • Average SOLD price also increased from Oct/Nov’s $600,792 to Nov/Dec’s $665,275.

If Median prices are to be considered a more reliable indicator, then it is interesting that the 30/60 day Median variance is contrary to the Averages.

Nov/Dec’s Median SOLD ASK price decreased from Oct/Nov’s $545,000 to $489,000. Accordingly, Oct/Nov’s Median SOLD price of $535,000 dropped to Nov/Dec’s $503,000.

The data showed 38 price reductions (approximately 32%), within the 99 Active listings.

Numbers

FOR SALE

FOR SALE

This Month 30 Days

Last Month 60 Days

Total Listings

136

191

Total Listing Average Price

$754,940

$754,940

Total Listing Median Price

$539,000

$539,000

EXPIRED

Expired Listings

5

11

Average Expired Price

$1,100,580

$1,210,972

Median Expired Price

$969,000

$1,369,900

SOLD

SOLD

32

81

Average Sold ASKING Price

$666,075

$605,007

Average Sold Price

$665,275

$600,792

Median Sold ASK Price

$489,000

$545,000

Median Sold Price

$503,000

$535,000

HIGH/LOW

Highest List Price

$2,348,000

$2,348,000

Lowest List Price

$274,900

$274,900

Outlook and Conjecture

Known is that Vancouver Real Estate 2009’s November sales volume exceeded 2005. Looking at these numbers and recognizing it’s an early indicator, a change might be in the making.

Sales are down by more than half. While Median Sold prices increased during the latest period, Median Sold ASK and Median Sold prices have dropped which in combination with substantial price reductions (in the range of 32%) may result in lower sale prices in the weeks ahead.

What has changed? Like the one above, opinions abound – fear of rising interest rates, Festivus, or the cost for your mother-in-law’s birthday present reducing your down payment.

What are you hearing on the street?

*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. ***

Picture taken earlier this year. Very soon you will not be able to see this from Broadway. A new condo tower is going to block this perspective.

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.

Reader Comments:

Larry's Mom Says:
December 14th, 2009 at 12:51 pm

Larry, you have some of the best analysis out there – raise the volume on your website/postings, you are a great voice of reason – thank you for all of your efforts!
Yes, this market will get crushed.

December 14th, 2009 at 1:50 pm

Larry’s Mom

re name: LOL!!! If you only knew! Too Funny! Thanks for the chuckle.

Kudo’s appreciated but, can you explain what you mean by “raising the volume”.

Why are you so certain that the market will get crushed? From this perspective it’s impossible to be that bold without a major world catastrophe occurring.

Larry's Mom Says:
December 15th, 2009 at 3:19 pm

Larry, it will get crushed just like Nortel at one hundred plus was destined to. Market fundamentals totally out of whack.

I think its on its way – NOW.

Thanks, love your site.

Mom

December 15th, 2009 at 3:31 pm

Mom,
you do know there is nothing fundamental about BC. It’s Bountiful. 🙂

Alexis Says:
February 19th, 2010 at 9:20 am

Can anyone tell me where I can find the averate rate per square foot to lease retail property in thee West Vancouver Area? Sorry had incorrect email on previous posting.

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