Condos & Townhomes - Conditions in November favouring Seller’s
Vancouver’s westside and Kitsilano were in a “Seller’s” market in November while the market continues to adjust to the new mortgage rules introduced earlier in the year by the provincial government.
How do we know? List to Sales Ratio
Kitsilano condo market had a 29% list to sales ratio, resulting from 104 listings and 30 sales in November. The Kitsilano condo market was the 2nd strongest on the Westside, only exceeded by Fairview.
The BIGGER picture
Here’s the breakdown for condo’s & town homes on Vancouver’s Westside in November:
• Overall a balanced market at 16% list to sales ratio (1.6 out of 10 selling rate)
In November this year condo and townhouse inventory decreased by 6%, benchmark prices decreased by 5%, while total sales decreased 30%.
Single family Homes - Prices decline again on Westside after October blip
Kitsilano’s single family home real market is in a Seller’s market with a 26% list to sales ratio.
Here’s the breakdown for single family homes on Vancouver’s Westside in November:
• Overall a buyers market with a 9% sales to list ratio (9 in 100 homes selling rate)
In November single family home inventory on Vancouver’s Westside decreased by 6%, sale prices decreased by 19%, and sales increased by 6% when compared to October.
Thinking of buying or selling? Over 10 years of serving clients in the Kitsilano area.
Want a more detailed SnapsStats report for Vancouver’s Westside delivered each month? Click here to sign up for free updates to your inbox each month.
All stats derived from Dean Wegman & SnapStats.
Vancouver’s westside and Kitsilano were in a “Seller’s” market in November while the market continues to adjust to the new mortgage rules introduced earlier in the year by the provincial government.
How do we know? List to Sales Ratio
- A buyer’s market has a 0-12% list to sales ratio
- A balanced market has a 12-20% list to sales ratio
- A seller’s market has a 21% or greater list to sales ratio
Kitsilano condo market had a 29% list to sales ratio, resulting from 104 listings and 30 sales in November. The Kitsilano condo market was the 2nd strongest on the Westside, only exceeded by Fairview.
The BIGGER picture
Here’s the breakdown for condo’s & town homes on Vancouver’s Westside in November:
• Overall a balanced market at 16% list to sales ratio (1.6 out of 10 selling rate)
• The most active price range was for homes priced between $400k-$500K
. • Homes are selling on average at 1% below list price.
• Buyer’s Best Bet: Homes between $1.75M to $2M, Cambie, Marpole, Point Grey, South Cambie & minimum 4 bedroom properties
• Seller’s Best Bet: Selling Homes in Fairview, Kitsilano and up to 1 bedroom properties
In November this year condo and townhouse inventory decreased by 6%, benchmark prices decreased by 5%, while total sales decreased 30%.
Single family Homes - Prices decline again on Westside after October blip
Kitsilano’s single family home real market is in a Seller’s market with a 26% list to sales ratio.
Here’s the breakdown for single family homes on Vancouver’s Westside in November:
• Overall a buyers market with a 9% sales to list ratio (9 in 100 homes selling rate)
• Most active price band is $1.75M to $2M
. • Homes are selling on average 6% below list price
. • Buyer’s Best Bet: Homes $4M to $5M in Kerrisdale and minimum up top 7 bedroom properties
• Seller’s Best Bet: Selling Homes in Kitsilano, Oakridge, SW Marine and up to 2 bedroom properties
In November single family home inventory on Vancouver’s Westside decreased by 6%, sale prices decreased by 19%, and sales increased by 6% when compared to October.
Thinking of buying or selling? Over 10 years of serving clients in the Kitsilano area.
Want a more detailed SnapsStats report for Vancouver’s Westside delivered each month? Click here to sign up for free updates to your inbox each month.
All stats derived from Dean Wegman & SnapStats.