Kits condo market activity heats up in June as summer begins

Kitsilano’s condo and townhouse real estate market maintained its strong momentum in June and lead Westside neighbourhoods in condo sales activity for the month. It appears home buyers and sellers are becoming confidant and active as each month passes during the COVID 19 pandemic. Well priced homes are selling in competition and putting upwards pressure on segments of the condo & townhouse market.

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

In June Kitsilano had a 52% list to sales ratio (up from 43% month prior), resulting from 95 listings and 49 sales.

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