My least favourite month of the year (February) has come and gone, and it is time to look forward to a sunny Spring. Hey, a guy can be optimistic can’t he? While the weather may have a ways to go, the Kitsilano real estate market is already full Spring mode.
As you would expect coming out of a typically slow January, February was a very active month. Active inventory continued a steady climb, while sales activity spiked. Prices in both markets slipped slightly compared to January numbers, in part because of a rise in inventory and possible due to a higher sales volume in the entry level price ranges. The latter trend is something to keep an eye on in the coming months, as we are noticing a pulling back of the foreign money that has been driving the market and a strong push from local buyers.
What’s next? Look for further, albeit smaller, increases in sales heading in to March, along with future growth in active inventory.
Last modified: March 9, 2012