October 2010 Kitsilano Real Estate Market Update

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As we enter into November, and what is typically a slower winter season in the Vancouver real estate market, let’s take look back at the October stats.

In the condo and townhome market, we are seeing signs of real stability. Average sales price, active listings and sales are all down slightly, but nothing outside of season trends. Look back at year over year trends, this October has slid downwards compared to 2009, but way ahead of the dismal 2008. With mortgage rates expected to remain steady and a continued lack of inventory, it appears likely that the market will remain flat into 2011.

When we look at the detached housing market in Kitsilano, we see a slightly different picture. Ignoring the odd spike in prices in June of this year (attributable to a few luxury home sales), we have actually seen a upwards push in prices since a slight downturn in July. An interesting point here though is that we did see inventory increase while sales dropped. I would expect to see a mild downturn in prices next month with things leveling off from there.

Last modified: November 8, 2010

3 Responses to " October 2010 Kitsilano Real Estate Market Update "

  1. […] This post was mentioned on Twitter by Kitsilano.ca and Hot In Real Estate, Ben Chimes. Ben Chimes said: RT @kitsilano: Ocotber 2010 Kitsilano Real Estate Market Update http://bit.ly/dC2trV […]

  2. bob says:

    mild downturn in prices next month

    wow what a prediction for the winter months re real estate. all in favour of keeping real estate blogs off kitsilano.ca , speak your mind here…..

  3. Drew says:

    I agree with Bob. Keep the realty blogs off the site. The Realty Board already controls 95% of the real estate stories in the media. The bias is ridiculous and blogs like thing participating in the con is just sad.