Kits Stats October 2007

Kits Stats October 2007

Houses

There were 13 homes sold from $800K (lot value) to over $4million on Kits Point. Two sold over list and one at list price. Days on market: 27.

There are currently 39 listings from $858K to $12,995,000 on Point Grey Road.  3 months of inventory.

Townhomes

October saw 18 sales, from $375K for a l bedroom 685 sqft to $1,568,000 for 1448 sqft. Six sold over list price and 2 at full price.  2 sales under $500K, 5 sales over $1 million. Average days on market: 29.

Current listings 35, starting at $399,00 for 850 sqft 2 bedroom.  22 under $1M and one over $2M.  2 months of inventory.

Condos

40 sales in October…a very busy month, 4 sold under $300K, 26 sold between $300K and $500K, 8 sold between $500 and $1M and one over a million dollars. 6 sold at list price and 13 over list price….meaning just about half of the sales sold at or over list…certainly a very tight market with high demand.

There are currently 84 listings, only 3 under $300K, 49 under $500K, 3 over $1M and one over $2M. Only 2 months of inventory.

Kits remains a highly desirable neighbourhood.  I am a buyer looking for a l bedroom up to $350K and there are only 2 places to show him. Please call me if you or anyone you know is planning to sell your l bedroom condo…i have a buyer!

Remarks

We are seeing a decrease in the demand for houses…possibly because of the high prices and more buyers opting for townhomes or condos.

Happenings

The IGA at Broadway and Vine opened last week….i was lucky to turn up at 5pm and got a turkey for 44 cents a lb…..that was like a throwback to the ’70s.  Can you remember what decade we paid 44 cents a lb for a turkey?? Apparantely they are not closing the old store..mmmm

Know of a neighbourhood event that you’d like to share with us? we’d love to hear from you.

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