Snapshot – Kitsilano Cold

Baby It’s Cold Outside

Ear worms are those strange silent repetitive musings that rattle around our brain and with which in unison we sometimes hum along as we consider our daily struggles.

Previewing the drop in Vancouver’s Kitsilano attached sales while contending with our current cold weather, the song that Dean Martin made famous started to rattle around. It might do that for you too!

In the period extending from September 23, 2010 to November 22, 2010 Kitsilano attached properties appears to be headed for a frosty time ahead.

Listings

Total Listings chilled slightly as they decreased from Sept/Oct’s 226 to Oct/Nov’s 204.

Sales

As Dean would opine, in the latter period Kitsilano attached properties caught a serious cold dropping by almost half from Sept/Oct’s 46 to Oct/Nov’s 24.

Expired, Reductions, Increases, Days on Market

  • Sept/Oct and Oct/Nov’s listing mandates found a blanket to keep warm at a steady 18 expireds.
  • Price reductions shivered a bit as they dropped from Sept/Oct’s 82 to 75 in Oct/Nov.
  • There was 1 price increase in both periods.
  • A slight fever seemed to warm the time it takes to sell a Kitsilano attached unit as the Days on Market dropped from Sept/Oct’s 31 to Oct/Nov’s 29.

Hot – Cold

  • Sept/Oct’s Average Ask price of $632,850 experienced a little warmth with Oct/Nov’s average of $648,550.
  • The Median Ask price in Sept/Oct was $494,450 and like the average it warmed a little to Oct/Nov’s $524,000.
  • The Average Sold price in the Sept/Oct was $622,216 and found similar warmth in Oct/Nov climbing to $633,906.
  • The Median Sold price in Sept/Oct recorded $494,250 and saw it’s temperature rise slightly in Oct/Nov to $507,500.

Not Frozen But Not Warm Either

Much like the waters of English Bay, Vancouver’s Kitsilano attached market is neither frozen nor is it warm. The staggering drop in sales like that cold water suggests that worse is to come in upcoming traditional slow period. Yet, in contrast, prices are almost bouyant, making the market appear to be afloat – at least for some.

Ear Worm

While we wait to see if this market finds the summer heat we can warm up and hum along with Dean.

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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