High-end Kits Condo market in a nutshell

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In July of 2006, I reported that the 4th Floor Penthouse at the newly contructed Vue at 2386 Cornwall Avenue (across the street from Kits Pool) sold for $2.5 Million.

Two years later in July of 2008, the owners of the deluxe suite listed their swank penthouse with realtor Larry Groberman for a whopping $3.2 Million.

This week, the same 4th Floor Penthouse is back on the market and has been listed by realter Kerby Cowan for $2.3 Million.

Up & down. That’s the current high-end Kits condo market in a nutshell.

Last modified: January 23, 2009

4 Responses to " High-end Kits Condo market in a nutshell "

  1. darren says:

    I run past this place all the time.

    And to be honest, Rob…not surprised at all. Talk about catching a falling knife.

    Kind of reminded me of the story of the real estate agent who is living at his client’s Yaletown condo for 72 hours straight until it sells.

    Rough times…

  2. Bill Barilko says:

    I remember seeing it being built and remarking to a friend how unremarkable the construction was.

    I know the views from that block they are outstanding but traffic noise/pollution is awful.

  3. sidelines says:

    Benchmark prices (detached/attached) for Vancouver are, more or less, back to June 2006 prices (I don’t have the link handy, but you can probably get the stats at realtylink.org). It isn’t just the high end. There’s no bouncing going on with prices either, as far as I can see, unless you’re looking at this in a multi-year (10 – 20 years) context. It’s going down, baby. Waaaay down. Watch out below!

  4. darren says:

    @sidelines:

    I have no idea who this guy is, nor am I fan of the ‘wav’ elevator music inspired slide show tune, but great information on that very point: