The desirable Kitsilano neighbourhood in Vancouver was quite active for April 07, and here’s how the sales break down, from Condos to Townhomes to Houses.
Condo Stats for April
We had 69 Condo listings in April. There were 36 sales ranging from $250,000 for a 590 sq.ft. one bedroom ($430 per sq. ft.) to $760,000 for a 1,360 sq.ft. three bedroom, which, by the way, sold above list with multiple offers!
We saw 3 sales under $300,000, 27 between $300 and $500,000, and 6 over $500,000. Of these, 23 were one bedrooms. The least expensive two bedroom went for $425,000 for 850 sq. ft. in an older bldg ($530 per sq. ft.).
Kits is still a very hot market, with 20 sold over list, and 4 at list. The average days on market were 21.
Just to compare, April 2006 saw 58 sales, and last month’s March 2007 sales clocked in at 54.
Who’s buying? Actually, these were mostly local buyers, some first timers who often get assistance from parents. Also, parents who make an investment for their kids going to UBC or a “trade up buyer” who is already living in the neighbourhood. We also run across a few buyers who used to live in Kits and are working overseas at present, so they buy an investment for when they return to Vancouver.
Kits Townhouses in April
Looking now at the townhouses, we saw 19 listings from $299,000 for a 588 sq. ft. one bedroom to $1,168,000 for a 920 sq. ft. two bedroom ($1269 pr sq ft) with stunning unobstructed water, mountain, and city view! This is a new completely rebuilt (effective age: new) 2-bedroom townhouse in prestige Kitsilano seaside with top quality & workmanship. Take a beautiful stroll along Point Grey foreshores or Kitsilano beach and wake up to the ocean breeze every morning. This townhouse was built by W & A Homes Ltd.
Or purchase an older townhome at 2405 W. 1st with over 1600 sq .ft. This townhome lists at $1,038,000, and has been renovated with a 20×30 sundeck, and it also features water and mountain views.
We saw 14 townhome sales for the month. From $339,000 for 632 sq. ft. one bedroom ($536 per sq. ft.) to $975,000 for 1360 sq. ft. ($715 per sq. ft.). Half of these townhomes sold over list price and one at list price. The two bedroom townhomes range from 870 to 1400 sq ft
Again, to compare, there were 9 townhome sales in April 2006, and 15 sales last month, in March 2007. The average number of days on market was 18.
Kits remains very much a busy and desirable place to live! One point I’d like to emphasize is that as Kits houses become more unaffordable, townhomes become more popular.
Kitsilano Houses – April Stats
We saw 48 active listings for Kits houses in April, ranging in price from $888,000-$5,900,000.
There were 19 sales in April 07. It is interesting to compare with March 2007’s 13 sales. April saw the range of house sales from $805,000 to $7,200,000 on Point Grey Road (with multiple offers and selling above list price.)
Of these sales, 8 sold under $1,000,000, 8 sold from $1,000,000 to 2,000,000 and 3 were over $2,000,000. Of these, 14 sold over list price, with 3 at list price.
Hot market in Kits or what?