See what’s selling in Kitsilano here


What’s selling in the Vancouver Kitsilano Single Family Market? The Vancouver West Side Single Family Market continues to favour buyers. Unlike the rest of the West Side single family market, the Kitsilano market is now favouring sellers.


Seven homes sold in Kitsilano last month. The most expensive home sold for $3.45M. This would have bought you a 3 year old home on a 33 foot wide lot on 10th Avenue. This was a contemporary home with a laneway house in the back. It sold for $75,000 less than it sold for in May of 2017.


The least expensive home sold for $1.75M. This would have bought you a 109 year old RT 8 zoned property on 5th Avenue on a 34 foot by 110 foot deep lot.


17 homes were available and on the market in Kitsilano last month. To have 7 homes sell puts us in a seller’s market with 41% of the homes selling.


Sold values in Kitsilano are at median price of $2,400,000 about $600,000 lower than the median price for a home in the West Side which is now at around $3,000,000. If you like to take a look at these sales, I have a new package you can download at this link: https://davidsetton.com/market-updates.html

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Statistics for Your Area Here


What’s hot What’s Not – Vancouver West Side Single Family Market Update for March 2020


The West Side single family market continues to favour buyers. Median prices are stable at $3M. Inventory is stable at 500 homes listed and on the market. 61 homes sold in February. This is about 12% of the homes that were available. The number of homes sold is up from February which is positive but it is still a buyers market..


What’s Hot (21% or more of the homes sold)


Which neighbourhood is strong and favouring sellers now? Kitsilano is the strongest and you can find a special report on Kitsilano here: https://davidsetton.com/market-updates.html. 7 homes sold in Kitsilano last month. 17 homes were available and on the market in Kitsilano. This means that 41% of the homes that were available sold in Kitsilano. Remember that the real estate board defines a seller’s market when more that 21% of the homes sell in a given month. Which price point strongest & favouring sellers? Any home priced under $3,000,000 is selling very quickly. This price point is strong with about 32% of homes selling.


What’s not hot (14% or less for homes sold in a given month)


Which neighbourhoods are weak and favouring buyers? University area, South Cambie, Southlands are all weak and favouring buyers. Only 5% of homes sold in these areas. Remember that the Vancouver Real Estate Board defines a market favouring buyers when less than 14% of the home sells in a given month. Which price category is weak right now and favouring buyers? Anything over $4,500,000 is really weak. There are currently 246 properties that are priced over $4,500,000 and only 2% of these homes sold last month.

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Click here to learn what it is like to compete when buying a home


Let’s dive in. Here are 3 things to know at the start at the home buying process.


1) Understand the market conditions you are buying in. Remember that different locations and different price points can impact how much you can negotiate. The housing market can be favouring buyers, sellers or balanced. By studying statistics your realtor can inform you on what you will be facing when you go to make an offer. Some locations and housing types are so strong that you may be competing when you are ready to make an offer. For example currently the condo and townhome market up to around $1M is very strong in the Vancouver Westside and you will more than likely be competing with other offers. The single family market is this same area at over $3M is currently favouring buyers.


2) Be specific on what you are looking for, but not too specific. What do I mean by this? Well, if you narrow your home search to a small search area like a 5 square block area, you may not have enough choices. If you make your search area too large, the opposite can happen and you can be easily overwhelmed with too much choice. Also it is possible to be too specific on the type of home. For example if you limit yourself to a home 1000 to 1200 square feet that must be on 2 levels you will not get too many choices. Especially if you combine this with a limited search area.


3) Know how much you want to spend and get a mortgage pre-approval. This is important because obviously it makes no sense to start looking at homes that you can’t afford. A mortgage professional can help with this because the rules around how much of a loan you can qualify for are always changing and interest rates change frequently. For example this month interest rates were lowered by ½%.


Some great resources on my website. I’m going to link to the Buyer section of my website where you will find a video on what it is like to compete with other offers. Please feel free to contact me at 604-808-9796. I specialize in helping home buyers looking to purchase a home in the Vancouver West Side. My name is David Setton with Oakwyn Realty and answers in real estate and you can reach me at 604-808-9796.

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See what’s selling in Kitsilano here 


What’s selling in the Vancouver Kitsilano Single Family Market? The Vancouver West Side Single Family Market continues to favour buyers. Unlike the rest of the West Side single family market, the Kitsilano market is now favouring sellers.


Six homes sold in Kitsilano last month. The most expensive home sold for $6.3M. This would have bought you a 105 year old home on a 49 foot wide lot Kits Point. This is one of my favourite areas in Vancouver. This property has been available for sale for a year and sold for over the asking price.


The least expensive home sold for $2.2M. This would have bought you a 92 year old triplex on 10th Avenue.


17 homes were available and on the market in Kitsilano last month. To have 6 home sell puts us in a seller’s market with 35% of the homes selling. Sold values in Kitsilano are at median price of $2,500,000 about $700,000 lower than the median price for a home in the West Side which is now at around $3,200,000. If you like to take a look at these sales, I have a new package you can download at this link: https://davidsetton.com/market-updates.html

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Get Your Market Report Here


What’s hot What’s Not – Vancouver West Side Single Family Market Update for February 2020 The West Side single family market continues to favour buyers. Median prices are stable at $3.2M. Inventory came up a little bit to 500 homes listed and on the market. 35 homes sold in January. This is about 7% of the homes that were available. The market is favouring buyers.


What’s Hot (21% or more of the homes sold)

Which neighbourhoods are favouring sellers now? Kitsilano are strong and favouring sellers. 6 homes sold in Kitsilano last month. 17 homes were available and on the market in Kitsilano. This means that 35% of the homes that were available sold in Kitsilano. Remember that the real estate board defines a seller’s market when more that 21% of the homes sell in a given month.


Which price point strongest & favouring sellers? Any home priced under $2,500,000 is selling very quickly. This price point is strong with about 43% of homes selling. We actually saw 10 homes sell for under $2,000,000 last month. It has been years since this has happened.


What’s not hot (14% or less for homes sold in a given month)

Which neighbourhoods are weak and favouring buyers? South Granville only saw one home sell last month. With 61 home available and on the market this represents only 2% of the homes sold. Shaughnessy is also very weak with one home sold last month out of 73 homes that were available and on the market. This represents only 1%. Remember that the Vancouver Real Estate Board defines a market favouring buyers when less than 14% of the home sells in a given month.


Which price category is weak right now and favouring buyers? Anything over $4,500,000 is really weak. There are currently 275 properties that are priced over $4,500,000 and only 1% of these homes sold last month.

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More about David


3 Ways to make Vancouver More Affordable


It's February again. You know what that means? You know what that means? It means that you may have missed declaring your Property Status regarding the Empty Home Tax. It doesn’t even matter if you are living in your home. You need to declare that you are indeed living in your own home. If you don’t make this declaration by February you are sent a nice little ‘discounted’ fine in the amount of $125 (assuming you pay it within 20 days). If you don’t it can jump up to $375. This is the part of the process that really bothers me.


Let’s assume that we are all ok with being told by the city that we must have someone living in our home if we travel for more than 6 months at a time. By fining homeowners for not declaring you are actually living in your home, it is almost like the city is saying you are guilty unless you prove otherwise. Didn’t Rogers Cable fail to launch negative option billing before being slammed by the public and regulators in the early 2000s?


I believe it should be assumed that you are living in your home unless you declare otherwise. It is the process that really bothers me.


What is even worse is if you want to dispute the late declaration fee fine. If you want to dispute the fine, you must first pay the full non-discounted penalty of $250. And guess what? If the CIty adjudicates themselves as being correct, YOU are charged a $25 “adjudication fee”. This is obviously to discourage people from disputing the charge. Does this seem democratic to you?. And guess how the city will rule regarding your dispute anyway? Guilty of course.


Two more questions I want to ask before closing out this video.


Has the Empty Home Tax made a difference to vacancy rates or the cost to rent a home in Vancouver. According to an article at Dailyhive.com vacancy rates actually stayed the same at around 1%. This means that this tax has not made more rental housing available. What about the cost to rent in Vancouver? Well this went up around 5% from the previous year. Last question. How do home buyers protect themselves from having to pay this tax when purchasing a home that is vacant? It is very important that your real estate agent write into the contract that the Seller is responsible to pay the Empty Home Tax.


Close out by saying I love Vancouver. I love the mountains, clean water and stable government. I just think we need to look more closely before introducing more taxes and red tape.


What do you think of the empty home tax process and the city asking us to rent out our homes if we travel for 6 months or more at a time?


If you have any questions about the Empty Home Tax or you are looking to purchase or sell a home in Vancouver, please feel free to contact me at 604-808-9796.

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Get statistics package here: https://davidsetton.com/market-updates.html
What’s hot What’s Not – Vancouver Westside – Single Family for Dec 2017
- Westside single fam is still fav buyers
- Median Prices dropped by 16% last month to $3.2M.
- Inventory is down about 100 homes from it’s peak of 789 in Sept.
- Only 83 homes sold in Nov
- Inventory is at 689 sf homes available 12% S.R.
What’s Hot (21% or more for a SR)
- which strongest - Kits
- 12 / 41 homes sold 29% sr Consistently does well
- special report on kitsilano
- price point strongest & fav sellers
- $2.25M - 2.75M 22 / 41 53% sr
What’s not hot (14% or less for a SR)
- Shaughnessy 3 / 82 sold - 4% sr
- Quilchena 1 / 27 sold - 4% sr
- which price category
- anything over $5M - buyers market - 273 homes priced over $5M - 15 sold. 12% sr. anything under 14% is a buyers market

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Download 12 Sales Here.

What’s hot in the Kitsilano Single Family for December 2017

- The Van Westside Single Fam market is favouring buyers.  

- Kitsilano is bucking this trend and favouring sellers.  

- 12 Homes sold in Kits last mo.

- least expensive home sold for $1.52M. which would have bought you a new 1,100 sqft coachhouse on Alma north of 4th Ave.  Most expensive home sold for $5.5M. Bought you a 10 year old home on 1st Ave on a 33’ wide lot.

- 41 homes were available and on the market in Kits in Nov so to have 12 sales puts us in a sellers market at a 29% sr

- Sold values in Kits are at med price of $2.8M lower than the median price for a home in the Westside - now at $3.2M.

If you like to take a look at these sales, I have a new package you can download at the link below map locating them and photos


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  • First questions my clients ask is should I buy first or sell first when moving

  • The answer is not straightforward

  • Whether buy first or sell first - still will be stressful

  • If buy first, have the stress of selling before taking possession of the home that you purchased.

  • Also the uncertainty of selling for enough money to afford the new home

  • If you sell first, you are under the gun to buy a home and moving before you have to give up your home you just sold.

  • When is it advantageous to sell first.  

  • When you are moving from an area with a stronger market to a weaker market.  Stronger negotiating position.

  • When advantageous to buy first. When you are moving into a strong market with less choice and you want to make sure that you can find the right home.

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This is the one: a two level penthouse townhome with a huge, private roof top patio! Enjoy abundant natural light and privacy, because the main floor of this corner home is surrounded by windows on three sides. Located across the street from McBride Park and a 10 minute walk to Jericho Beach, this is a convenient location in the heart of Kitsilano. Walk everywhere. You are surrounded by coffee shops, grocery stores and restaurants on 4th Avenue and Broadway. Did I mention the 500 square foot roof top patio with city and mountain views? Just painted with newer flooring and recent bathroom renovations, this home is move-in ready. As a bonus, this is one of the only homes in the development with 2 secure underground parking stalls.

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For Statistics for your area click here.

What’s hot What’s Not – Vancouver Westside – Single Family for Nov 2017

- Westside single fam market transitioned to a buyer’s market

- Median Prices are at still at their highest at $3.79M.

- Inventory is dropped a little between Sept and Oct.

- Number of sales are up slightly. Not sure if it is a trend. Previous 4 months trended toward decreasing prices.

- 108 homes sold in Oct

- Inventory is at 757 sf homes available 14% S.R.

What’s Hot (21% or more for a SR)

- which strongest - Mackenzie Heights

- 8 / 28 homes sold 29% sr Consistently does well

- price point strongest & fav sellers

- $1.75M - 2.25M        10 / 10        100% sr affordable ;)

What’s not hot (14% or less for a SR)

- SW Marine Dr 4 / 41 - 10% sr

- Southlands 4 / 39 sold - 10% sr

- which price category

- anything over $4.5M - buyers market -  379 homes priced over $4.5M  - 30 sold. 8% sr. anything under 14% is a buyers market

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Get Home Sales Here:https://davidsetton.com/market-updates.html
What’s hot in the Kitsilano Single Family for Sept 2017
- The Van Westside Single Fam market is balanced. We’re not favouring buyers or sellers
- Kitsilano has usually does better than the rest of the Westside. Holds true rest fav. buyers.
- only 7 Homes sold in Kits last mo.
- least expensive home sold for $1.9M. which would have bought a revenue property on Macdonald - most expensive sold for $12M for a small waterfront home on a small lot near Jericho.
- 46 homes were available and on the market in Kits in June so to have 7 sales puts us in a balanced market at a 15% sr
- Sold values in Kits are at med price of $2.5M lower than the median price for a home in the Westside - now at $3.6M.
If you like to take a look at these sales, I have a new package you can download at the link below map locating them and photos

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Learn about me: http;//www.davidsetton.com/biography.html
Do Home Sellers have to accept an offer at full asking price? You do not have to accept any offer in real estate even if it is a full price offer with no subject conditions. You may be obligated to pay a full commission to the listing agent if you decide not to accept a full price offer with no subject conditions. I do not take a commission even if a full price offer is presented to my client.

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Get 5 home sales here: 

https://davidsetton.com/market-updates.html

 

What’s hot in the Kitsilano Single Family for August 2017

- The Van Westside Single Fam market is favouring buyers.  Buyer’s Market

- Kitsilano has usually does better than the westside in general, but not in July

- only 5 Homes sold in Kits last mo.

- least expensive home sold for $2.33M. which would have bought a 102 yr old hm at 11th Ave and Collingwood - most expensive sold for $4.1M for a multifamily zoned 4,000 sqft piece of land at Maple and 6th Ave

- 51 homes were available and on the market in Kits in June so to have 5 sales puts us in a buyer’s market at a 10% sr

- Sold values in Kits are at med price of $3.5M lower than the median price for a home in the Westside - now at $3.8M.

If you like to take a look at these sales, I have a new package you can download at the link below map locating them and photos


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Get Statistics package here: https://davidsetton.com/market-updates.html

What’s hot What’s Not – Vancouver Westside – Single Family for Aug 2017

- Westside single fam market transitioned from a balanced market in June to a buyers market in July

- Median Prices are up almost $1M from Jan this yr.

- Inventory is up and number of sales are down. Should put downward pressure on prices in the next few mo.

- only 72 homes sold in July - down 36% from June

- Inventory is at 705 sf homes available

- 72 sold homes / 705 homes available 10% sales ratio (s.r.)

What’s Hot (21% or more for a SR)

- which strongest - Oakridge

- 7 / 12 homes sold 58% sr - some of these were land value as part of rezoning / land assembly

- price point strongest & fav sellers

- $2.25M - 2.5M        5 / 17        29% sr

What’s not hot (14% or less for a SR)

- SW Marine Dr 2 / 43 - 5% sr

- Shaughnessy 4 / 86 sold - 5% sr

- which price category

- anything over $4.5M - buyers market -  365 homes priced over $4.5M  - only 18 sold. 11% sr. anything under 14% is a buyers market


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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

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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.

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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.

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Download your own Stats Package Here: https://davidsetton.com/market-updates.html

What’s hot What’s Not – Vancouver Westside – Single Family for May 2017
- Westside single fam market remains in a balanced market. Right where it should be.
- Median Prices came down 5% in April to $3.2M
- 111 homes sold in April
- Inventory still low only 561 single family homes available

What’s Hot (21% or more for a SR)
- which areas are strongest - Quilchena and Dunbar
- Dunbar 18 / 68 sold 26% sales Ratio 21% or more
- Quilchena 7 / 23 sold 30% sales ratio
- price point strongest & fav sellers
- $2.25M - 2.5M 12 / 12 100% sr
- $3M - $3.5M 20 / 57 35% sr

What’s not hot (14% or less for a SR)
- Southlands 2 / 25 - 8% sr
- Shaughnessy 2 / 62 sold - 3% sr
- which price category
- anything over $4.5M - buyers market - 210 homes priced over $5M - only 16 sold. 8% sr. anything under 14% is a buyers market

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Get 12 Sold Homes: https://davidsetton.com/market-updates.html
What’s hot in the Kitsilano Single Family for May 2017
- The Van Westside Single Family market has transitioning from buyers to balanced. market.
- Kitsilano has been doing exceptionally well and is now favouring sellers. 
- 12 Homes sold in Kits last mo.
- least expensive home sold for $1.89M. which would have bought a 107 yr old home on Cypress & 5th Ave - most expensive sold for $3.6M for another 100 yr old home on 1st Ave & Dunbar.
- only 44 homes were available and on the market in Kits in Feb so to have 12 sales puts us in a seller’s market at a 27% sr
- Sold values in Kits are at $2.9M lower than the median price for a home in the Westside - now at $3.2M.
If you like to take a look at these sales, I have a new package you can download at the link below map locating them and photos and details for each property. specialize

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