Does Kitsilano Have a New Neighbour?

Expected

A new neighbour means longer and leaner outcomes in this Kitsilano detached home snapshot.

Snapshot Series Kits Det 2013 03 28

The two periods considered in this Kitsilano Snapshot cover 60 days beginning January 26, 2013 and ending March 28, 2013

Listings

Total Listings stagnated during the two 30 day periods. Jan/Feb’s total was 53 as was Feb/Mar’s.

Sales

It was a shallow pool for sales but sales in Kitsilano did increase a little from 7 to 10.

Expired, Reductions, Increases, Days on Market

  • Expired mandates decreased from Jan/Feb’s 4 to Feb/Mar’s 1 suggesting that pricing levels are more realistic and reflective of the current market place.
  • Sales appear to have run into a wall during the Feb/Mar period as the Days on Market increased from 14 to 54.

Average and Median Prices

  • January/February’s Average Ask price was $2,009,000. The average increased to $2,861,900 in the February/March period.
  • The Median Ask price in Jan/Feb was recorded at $1,875,000. That number dropped in Feb/Mar to $1,576,500.
  • The Average Sold price in the Feb/Mar period jumped to $2,634,950 – up from Jan/Feb’s $1,934,435.
  • The Median Sold price in Jan/Feb registered $1,788,050 dropping to $1,506,000 in Feb/Mar.
_MG_7117 [1024x768]

New Neighbour

Kitsilano has long been a place where new neighbours are welcomed.

Under the assumption that decreasing prices and the increased length of time it takes to sell a home are the new neighbour. I would speculate that this neighbour will not be readily welcomed by the current residents selling their piece of Kitsilano.

Got a real estate question? Send me an email with your query.

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.

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*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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