Download Market Report: https://davidsetton.com/market-updates.html
What’s hot What’s Not – Vancouver Westside – Single Family for July 2017
- Westside single family market transitioned from a sellers market in May to a balanced market in Jun
- Median Prices are up 19% from Jan of this yr.
- Inventory jumped 17% last mo and sales dropped by 39% so we should see asking prices come down in next few months.
- 113 homes sold in June
- Inventory still low only 667 sf homes available
What’s Hot (21% or more for a Sales Ratio)
- which strongest - Kitsilano, Quilchena, Oakridge
- Kitsilano doing really well 17 / 49 sold 35% sales ratio. (report)
- Quilchena 6 / 21 sold 29% sales ratio
- price point strongest & favouring sellers
- $2.0M - $2.5M 15 sold / 24 listed 63% sales ratio
- $3M - $3.5M 18 / 54 33% sales ratio
What’s not hot (14% or less for a Sales Ratio)
- University 2 / 23 - 9% sr
- Shaughnessy 5 / 78 sold - 6% sales ratio
- which price category
- anything over $4.5M - buyers market - 352 homes priced over $4.5M - only 25 sold. 7% sales ratio. anything under 14% is a buyers market
Download 17 homes sold last month here:https://davidsetton.com/market-updates.html
What’s hot in the Kitsilano Single Family for July 2017
- The Van Westside Single Family market is in a balanced Market Condition
- Kitsilano has been doing exceptionally well and is now favouring sellers.
- 17 Homes sold in Kits last month.
- least expensive home sold for $2.150M. which would have bought a 105 year old home on Yew (off of Broadway - most expensive sold for $3.775M for an 88 yr old home on 14th Ave & Balsalm.
- only 49 homes were available and on the market in Kitsilano in June so to have 17 sales puts us in a seller’s market at a 35% sales ratio
- Sold values in Kitsilano are at median price of $2.56M lower than the median price for a home in the Westside - now at $3.5M.
about me: http://davidsetton.com/biography.html
- I changed brokerages recently. I always thought that it didn’t matter where a realtor hung is license
- Wanted to take a few minutes to talk about why I made the change
- The main reason was because of the high values of Oakwyn - 7 core values that really resonated with me.
1) Put People First. Real estate is a relationship business - I have always tried to listen first, ask lots of questions.
2) Provide Innovative Service - Again, I have always questioned the best way to do things. Love making videos, using tech and providing fancy brochures for all of my listings
3) Create a Community - really feel this in the brokerage. Agents are respectful and work together and share ideas.
4) Be a Real Estate Nerd - not sure about this one. This one comes dn to always wanting to learn more and lifelong student
5) Lead by Example - my father was always good at this. Model behaviour that you want others to duplicate
6) Pursue Learning and Growth - if you are not growing you're dying. This one resonated with me.
7) Drive and Embrace Change - this one made sense to me. I’m an action person and I like to try new things and push myself to grow.