vancouver real estate analysis for kitsilano in june 2009

Kits condo market on fire! Vancouver real estate market analysis for Kitsilano condos saw June sales up and higher than any of the last 18 months. Listings dropped to a low of 81. Average price for solds increased to $421,000 which is higher than June last year. Average Days on the market for sold condos dropped to 26, the lowest since Feb/Mar last year. List price to sale price ratio rockets to 101%, first time its gone over 100% in the last year. Average $ psf for sold condos up to $555, equal to September last year. June saw a bottom end market with only 20% of the sales over $500,000 & one over $600k. The entire Kits market under $600,000 is selling well. Kits condo supply down from 9 months in January to 1.8 months. No market for Kits condos over $655,000. The one bedroom market is very tight with only 38 listings and 27 one bedroom sales in June. A huge 60% sold over list price. Only 7 listings did not sell and came off the market. Where does it go from here? The market is lacking product. Read the rest of this entry » and view the graph