Kitsilano Listings to Sales Ratio
Kitsilano real estate Sales 15: Listings 195
Even Kitsilano, Vancouver west side’s premier beach community has seen sales drop. In December there were only 15 sales including all detached homes, attached properties and apartment/condos. The sale to list ratio of each is detached 4.26%, attached 15.91% and apartment/condos 5.77%.
The total listing count for Kitsilano in December 2008 was 195 units. This included 47 detached houses, 44 townhouses and duplexes, 104 condos.
Detached housing average prices were just over $1.6 million. The highest list price was at $4.9 million. There were seven properties listed above $2 million and thirty seven properties above $1 million. There were only ten properties listed below $1 million.
There were 21 properties listed for sale that reduced their price and 7 of them reduced their price twice. The average price reduction was $210,000 and the average time each listing was on the market was 117 days.
The sale to listing ratio was 4.2% with only two houses selling. One of the properties reduced their price before selling. The sale price for both properties came in $118,000 and $250,000 off the asking price. One was on the market for 220 days and actually came down a full $590,000 off their original list price while the other was sold within 32 day.
In total, there were 23 detached homes that expired and came off the market.
There were 44 Kitsilano attached properties including duplexes and townhouses listed for sale. The highest price was $5.58 million, the lowest was $359,000, the average was $985,318. . There were 13 listings over $1 million and 31 under.
There were 16 attached properties that reduced their prices by an average of $117,000, the largest drop coming in at $800,000.
Of the total Kitsilano sales, attached had the most of all categories with 7. The average list price was $711,000, the average sale price was $681,000 and the average time on the market was 54 days. Only two of these properties reduced their prices before selling. The highest sale was $919,000.
Another 25 attached properties in Kits came off the market (expired). Their average list price was $922,000 and sat on the market for an average of 131 days.
There were 104 apartment listings with the highest price at nearly $2.3 million, the lowest an average list price of $506,000, the lowest at $249,000 and an average list price of $506,000. Roughly 44% of these listings reduced their price by an average of $37,000. Their average time on the market was 95 days.
There were 46 listings that reduced their prices for an average of $37,400. The largest price drop was $190,000, the low was $10,000 and the average was $37,000.
The highest sale price of the 6 sold Kitsilano condos was $466,000, the lowest $315,000 and the average was $413,000 with all but the lowest selling in the $400s. The fastest sale took 10 days, the longest took 91 and the average time to sell was 57 days. On these sales, 5 out of 6 sold properties had to reduce their prices below their original asking prices. The average highest drop from original ask price to sale price was $98,000, the lowest $6,000 and the average was $45,000.
The expired listing count for Kitsilano apartments for the period came to 31 units. The highest list price was $929,000, the low was $299,000 and the average was $492,000. The average time on the market was 126 day.
Photo:
http://www.prlog.org/
