Chilly Melt

Hot Sun

It could have been the recent spate of hot weather that rattled the averages or maybe the scientists unlike some economists, are right. Global warming is having an effect and is slowly melting sales and prices in this Kits Attached neighbourhood snapshot.

In the period covering June 19, 2010 to August 18, 2010, Attached properties in the Kitsilano neighbourhood would have benefited from a cool breeze.

Listings

Total Listings caught a little breeze with a decrease from June/July’s 274 to July/Aug’s 251.

Sales

Opposite were sales which decreased from June/July’s 58 to July/Aug’s 39.

Expired, Reductions, Increases, Days on Market

• June/July had 20 listing mandates expire whereas July/Aug had 16.
• Price reductions heated up from June/July’s 95, to 107 in July/Aug.
• There were 3 price increase in June/July and 4 in July/Aug.
• It is taking longer to sell an Attached property in Kits. It took an average of 31 days to sell a home in June/July and 34 in July/Aug.

Hot Average and Median Prices

Kits Indian Reserve Beach 1932 – CVA

• June/July’s Average Ask price of $544,362 felt the heat in July/Aug as it climbed to an Average of $621,466.
• The Median Ask price in June/July was $544,362 but caught a chill in July/Aug settling at $475,000.
• The Average Sold price in the June/July was $534,636. It caught on fire in July/Aug as it climbed to $605,128.
• The Median Sold price in June/July recorded $509,000 but shared the chill as it settled in July/Aug at $463,000.