MARKET UPDATES

Stats package and SOLD VALUES available. Complete the form at the bottom of this page.

VANCOUVER WESTSIDE MARKET

October 2021

Where are we seeing lots of strength in the market?

Currently, we can see strength in the condo and townhouse market from $500,000 up to $1,500,000. Overall, the westside condo market is favouring sellers with 30% of them sold last month, and communities with the most activity continue to be Kitsilano, Fairview, and False Creek. Following a steady decline over the summer, the average sale price began to rise in August, and continues to increase. It is currently sitting at $915,000, $58,000 higher than it was in July, and $89,000 more than it was in September of 2020. As inventory grows and sales drop, we can expect this price to fall over the fall season.

Now let's look at the single family market. The strength in the market lies between $1,750,000 and $3,500,000, with the majority of homes selling above list price. If both inventory and sales remain flat, we can predict the average sale price to remain fairly steady over the next few months. The strongest location is still Kitsilano with 28% of homes sold.

If you are interested in gaining access to all the sold and available homes in the lower mainland, feel free to use my website to search for your next home.

KITSILANO SINGLE FAMILY MARKET

October 2021

During the month of September, 9 of 32 (28%) of homes sold in Kitsilano. The most expensive home sold for $4,000,000, $100,000 above the list price. This would have bought you a 95 year old, rancher-style character home on a 2640 sqft lot with building potential. The least expensive home, a 96 year old property on 5th Ave, sold for $82,000 over asking price at $2,280,000.

Out of all 10 homes sold last month, 7 of them sold above asking - showing an increase in competition. Currently, average sale price is $120,000 less than it was during September of 2020, and by following the market trend we can anticipate this price to remain fairly unchanged this fall. That said, the market continues to favour sellers with multiple offers coming in on homes within the $1,750,000 - $3,500,000 range.

If you would like a detailed report on the 6 homes that sold please fill out the form at the bottom of this page or feel free to send me an email.

If you are interested in gaining access to all the sold and available homes in the lower mainland, feel free to use my website to search for your next home.

SALES AND STATISTICS SENT TO YOUR EMAIL

Find out what a home actually SOLD for in Kitsilano. This can be quite different from the asking price. Let David create a website just for you and get notified when a new home sells in Kitsilano.

The Westside Statistics package includes a 13 month graph showing how prices, inventory and the number of sold homes changes every month. Learn which areas in Vancouver are favouring Buyers and which are favouring Sellers.

Fill out the form below and stay informed on the market.