David's thoughts on anything real estate related

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Live in the heart of Kerrisdale in a well-designed 3-Bed townhome at Larchwood. Fronting a quiet courtyard, this is the best located home in the development! Enjoy mornings on your grand east facing patio overlooking a private park, or walk a block to the shops of quaint yet bustling Kerrisdale Village.

With private access from your home to 2 large parking stalls, an unfinished basement room, and plenty of in suite storage, this townhome is easy to live in. Chef inspired kitchen with over-height cabinets and Miele appliances. Open concept living and dining rooms with airy 9' high ceilings and a custom Maple and Marble fireplace. A short walk to some of the best private and public schools on the west side.

Easy access to the University of BC and the peaceful forest of the Endowment Lands.

See what’s selling in Kitsilano here

What’s selling in the Vancouver Kitsilano Single Family Market? Unlike the rest of the Vancouver West Side single family market, Kitsilano is favouring sellers with 25% of homes sold.  

Six homes sold in Kitsilano last month. The most expensive home sold for $13.5M.  This would have bought you a 26 year old custom built, 4,800 sqft, waterfront home on Point Grey Road. This home was originally listed for $16.8M in 2016.

The least expensive home sold for $2.3M.  This would have bought you a 90 year old home on 15th Avenue on a 33 foot by 122 foot deep lot.  This home sold for over the asking price of $1.98M.

If you like to take a look at all the sales in Kitsilano, I have a new package you can download at this link: https://davidsetton.com/market-updates.html

Get detailed statistics here: https://davidsetton.com/market-update...

Today I want to look at both the Vancouver Westside condo and single family market.

Where are we seeing lots of strength in the market?

The condo and townhouse market is very strong under $800,000. If you are looking for a home at this price you may be competing with other offers. Inventory is still very low and prices have been falling over the last few months. The strongest locations for condominiums is Fairview and Kitsilano.

Now let's look at the single family market. The strength in the market here is under $3M. Little availability under $3M and homes are selling quickly. Median prices jumped up to $3.2M in May. This was mainly because we started to see a few more homes sell between $3M and $4M. The strongest locations are Kitsilano and Arbutus. I have a special report on Kitsilano single family market, if you want to check out the market update page of my website.

If you would like to take a look at the market conditions in more detail feel free to download the Snapstats Report. Send me a message through Instagram and I would be happy to send it to you.

See what’s selling in Kitsilano here

What’s selling in the Vancouver Kitsilano Single Family Market?

The Vancouver West Side Single Family Market is now favouring Sellers The Kitsilano market is also favouring sellers with 50% of homes sold.

Eight homes sold in Kitsilano last month. The most expensive home sold for $3.1M. This would have bought you a 95 year old home on a 49 foot wide by 80 foot deep lot on Point Grey Road. This home was originally listed for sale at just under $6M two years ago.

The least expensive home sold for $2.1M. This would have bought you a 92 year old home on 12th Avenue on a 33 foot by 122 foot deep lot.

16 homes were available and on the market in Kitsilano last month. To have 8 homes sell puts us in a seller’s market with 50% of the homes selling.

Sold values in Kitsilano are at a median price of $2,500,000 about $500,000 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: 

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.

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

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.

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

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

Download Statistics package here: https://davidsetton.com/market-updates.html
What’s hot What’s Not – Vancouver Westside – Single Family for Sept 2017
- Westside single fam market transitioned to a buyer’s market
- Median Prices are at still at their highest at $3.6M.
- Inventory is up and number of sales are down. Should put downward pressure on prices in the next few mo.
- only 52 homes sold in Aug
- Inventory is at 706 sf homes available
- 52 sold homes / 706 homes available 7% s.r.
What’s Hot (21% or more for a SR)
- which strongest - Arbutus
- 6 / 35 homes sold 17% sr
- price point strongest & fav sellers
- $2M - 2.25M 4 / 5 80% sr
What’s not hot (14% or less for a SR)
- SW Marine Dr 1 / 41 - 2% sr
- South Granville 2 / 83 sold - 2% sr
- which price category
- anything over $4.5M - buyers market - 370 homes priced over $4.5M - only 14 sold. 4% sr. anything under 14% is a buyers market