December is typically slower month given the holidays. This December was no exception. The benchmark price of a detached home in Kitsilano in Dec was $2,167,100, down 11.5% from a year earlier.
The benchmark price of a Condo in False Creek is $811,800, down 3.1% year over year, in Kitsilano it’s $593,200, down 6.4% from a year earlier.
The benchmark price of a Townhouse in False Creek is $866,200, down 7% year over year, for Kitsilano, $1,016,000, down 6.2% year over year.
If you are considering a purchase this year, the inventory and lack of multiple offers gives you a good opportunity to finding a great property without feeling pressured to make a decision.
If you are considering selling. The market is down but it’s still very high relative to the rest of the country. Having a great marketing plan is essential in this market.