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Kitsilano Market Stats – March 2019

No Springing Forward in Sales this Season

The sales of both attached homes and detached homes experienced a bit of a cool down.

Detached Homes

The market started off a little on the slow side this season. There were slightly fewer sales than the previous month. Just like with the beginning of the year, supply is greater than demand.

The average detached homes sales price saw a bit of a drop, particularly among older homes. Some of these older homes are now priced in the lower range and have become more affordable for buyers.

The most interesting thing to note is how the asking price has increased, while the actual sales price has decreased.

Of the five sales that were recorded, two were at or over asking price.

You might be wondering what is going on with the trend and how it may affect you. Right now, this trend we’re seeing is prevalent throughout the city. To understand more about it, don’t hesitate to contact Nick and the team for more details and with any questions you may have.

Attached Homes

Condos, Townhouses, Duplexes

Overall, the market experienced a bit of a cool down. But while sales were down, the sales price remained the same from the previous month. The average list price was actually lower than the previous month. In general, this means that the buyers have a clear idea of the average market value of homes.

Out of 22 homes sold, five were at asking price or above. What to be aware of is that the average list price of the newly listed homes actually increased to match the average list price of the homes that sold previously.

To sum everything up, the pricing of homes sold and homes listed are comparable to what was set in the previous month, but the amount of homes sold has decreased.

The attached homes market in Kits is experiencing a constant in a slower market trend to match the pace of the rest of Vancouver. But pricing accurately may still net you a quick sale. There are so many people who will jump at the chance to take a well-priced home.

To find out how you can maximize on this kind of opportunity, get in touch for free buyer or seller real estate consultation.

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