What’s Hot in the Vancouver Westside condo and single family market?
Where are we seeing lots of strength in the market?
Let’s start with the condo market. The condo and townhouse market is very strong under $1M. You will probably be competing under $1M. Overall the westside condo market is really strong and favouring sellers with 33% of them sold last month. Inventory continues to come down (red dashed line). Typical of this time of year. Where are the strongest locations? The strongest locations w/ most activity for condominiums is Fairview, Falsecreek and Kitsilano.
Now let's look at the single family market. You can see here that the strength in the market here is under $3M. Now let’s check the 13 month graph. Median prices are down around $300k or 10% after peaking in September. Buyers today are getting much more for their money. Where is the strongest location? The strongest location is definitely Kitsilano where 69% of the homes are selling. I have a special report on Kitsilano single family market, if you want to check out the market update page of my website.