I have many photographs of the sold homes dispersed throughout the video.
What’s selling in the Vancouver Kitsilano Single Family Market? 28% of the homes sold in Kitsilano last month. Seller’s market is defined as 21%.
Five homes sold in Kitsilano last month. The most expensive home sold for $7.25M. This would have bought you a 31 year old, 1,9164 sqft home, on Point Grey Road. Believe it or not this was only a 1 bedroom home and the lot was only 33 foot wide by 100 foot deep. This home sold for $4.7M eleven years ago..
The least expensive home sold for $2.15M. This would have bought you a 81 year old home on the corner of Balaclava St and 8th Avenue on a 33 foot by 110 foot deep lot. This lot is zoned RT-7 which allows for a multifamily development.
So where is the market heading? Still have very little inventory. Less than 400 homes available on the Westside. Interest rates are still at record lows. Even with Covid 19, if interest rates stay low and inventory stays low we should see single family home prices continue to rise. Even with all the pressure on home prices, we are still not seeing the sold prices that we saw when the market peaked in 2017. We are close, but not quite there yet.
If you like to take a look at all the sales in Kitsilano in more detail feel free to connect with me on instagram or Youtube or send me an email.
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