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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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

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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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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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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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Over the last couple of years many of my clients that are having children and starting a family have been leaving the city of Vancouver and moving to other parts of the lower mainland. The reason for this is because Vancouver has a serious housing supply issue in general, but more specifically a problem with what I referred to as ground oriented housing. What is ground oriented housing? It is exactly what the name implies. It is a home with it’s main entrance located at grade or a few steps away from from grade. An example of this type of housing would be row townhomes similar to those found in Europe.

I believe that, now more than ever, there is a need for this style of housing. Our single family neighbourhoods have become very expensive and they are simply out of reach of many working families. This form of housing can be made more affordable through densification and by making the homes ultra efficient.

The next question is where do we build this style of housing? I have identified a few locations in the city. The official community plan or OCP for this street calls for row townhomes in many areas. I have a floor plan for a 1,300 square foot 3 bedroom townhome that could be built up and down these areas. This would keep the housing more affordable and allow more people to enjoy this very desirable neighborhood.

If you live on an arterial road and like the idea of building housing within the reach of working families, please feel free to give me a call. I would be happy to walk you through the floor plans and discuss what you could sell your property for.

You can contact me anytime at 604-808-9796 and as always thank you so much for listening today.

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Learn How Money Works (quiz): https://howmoneyworks.com/setton

Attend a Finance Event: https://capitolhillofficeevents.eventsmart.com/events/

Housing affordability is a hot topic in Vancouver and I wanted to take a few minutes to talk about it and throw out 3 ideas that could be implemented to solve this issue. I am a real estate agent in Vancouver and I know first hand how challenging it is becoming for families to live in this beautiful city. Let’s dive right into this. Here are the three steps that I would suggest:

1) Prefab housing. What is this this? Do you remember playing with erector sets when you were a kid? This method of building housing has been around for years and is being implemented in other parts of the world like Europe, China and Israel. It essentially allows construction to be fast, efficient and systematized by manufacturing construction components off-site and assembling those components using a crane and minimal labour. Steel frame and hollow core concrete slabs can cut the time and cost to build a building dramatically.

2) Fast track building permits. How long do you think it takes to gain approval for a highrise development in Vancouver? If a rezoning is part of the process, which it usually is, it can take 6 or 7 years from the time a developer envisions a project to the time buyers actually take possession and move in. This entire process needs to be streamlined and the city has to cut the red tape and fast track the public consultation process.

3) Reducing the cost of building permits, development cost charges and community cost charges. Did you know that when a land assembly happens in Vancouver, the homeowners selling their homes at high values do not participate or give back to the community for the extra value the city has created through the rezoning? It is up to the developer to pay the higher land cost and pay the city the community cost charge. This cost is in turn passed on to the end user or purchaser of the condominiums that are ultimately built. If we want affordability, all of these charges need to be dramatically reduced.

As a final note, I wanted to mention the alternative to finding affordability is to find a way to generate more individual or family income. Average family incomes are $60k to $70k in Vancouver. Obviously, with the cost of housing where it is in Vancouver, average income families can no longer own a home. We have to look for additional means of income and understand how money works. If you want to see how financially literate you (take the quiz) are or if you are looking for a new carrier my wife, Alison, is growing a financial company that is looking for ethical, hardworking individuals and you can reach out to her through the link below this video.

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download 9 home sales here:https://davidsetton.com/market-updates.html
- The Van Westside Single Family market has transitioning from buyers to balanced market
- Kitsilano has been doing exceptionally well and is now favouring sellers.
- 9 Homes sold in Kits last mo.
- least expensive home sold for $2.1M. which would have bought you a small, older home on 7th ave - most expensive sold for $4.3M for a 4,500sf beaut restored character home on 14th Ave.
- only 40 homes were available and on the market in Kits in Feb so to have 9 sales puts us just into a seller’s market at a 23% sr
- Sold values in Kits are higher at $2.9M lower than the median price for a home in the Westside - now at $3.5M.
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 phone number 604-808-9796

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Get your Statistics here:https://davidsetton.com/market-updates.html
What’s hot What’s Not – Vancouver Westside – Single Family for April 2017
- Westside single family market has moved from a buyer’s market in January to a balanced in March
- Median Prices jumped up 22% in 2 months to $3.5M
- 95 homes sold in March
- doesn't sound like a lot, but only 532 homes were available
What’s Hot (21% or more for a Sales Ratio (SR))
- In Jan, not one neighbourhood was favouring sellers. In March, 9 neighbourhoods favouring sellers
- which areas are strongest - Arbutus and Dunbar
- Dunbar 23 / 62 sold 37% sales Ratio 21% or more
- Arbutus 6 / 20 sold 30% sales ratio
- price point strongest & favouring sellers
- $2.00M - 2.25M 4 / 8 50% sr
What’s not hot (14% or less for a SR)
- South Granville 5 / 70 - 7% sr
- Shaughnessy 3 / 61 sold - 5% sr
- which price category
- anything over $4M - buyers market - 202 homes priced over $5M - only 16 sold. 8% sr. anything under 14% is a buyers market

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Get 15 Sales here: https://davidsetton.com/market-updates.html

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

- The Van Westside Single Fam market picked up in Feb transitioning from buyers to bal. mrk.

- Kitsilano did exceptionally well and is now fav sellers.

- 15 Homes sold in Kits last mo.

- least expensive home sold for $2.1M. which would have renovated older home on 10th ave

- most expensive sold for $17M for a 42’ wide piece of land on PT Grey Rd.

- only 36 homes were available and on the market in Kits in Feb so to have 15 sales puts us in strong seller’s market at a 42% sr

- Sold values in Kits are higher at $3.3M than the median price for a home in the Westside - now at $3.1M. First time that I have seen this.

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 ph num


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