Vancouver West Side Condo Update (2-Br)
WEST SIDE
On the West Side of Vancouver there are currently 1010 active two-bedroom properties for sale, ranging in price from $235,000. to $8,350,000., with the average asking price being $1,022,454. There have been 549 sales since April, with the average selling price being $764,507 and the average cost per square foot being $691. The median sale price during this period is $620,000. The least expensive sale price so far this year was for $287,500. in June and the most expensive was for $5,600,000. in April. With 1010 properties currently for sale and with 148 sales last month, there is currently a 7 months supply of homes, an absorption rate of 7. The absorption rate is the ability of the real estate market to absorb or sell all of the homes for sale in a given amount of time. A supply of 3 months or less (a.k.a. an absorption rate of 3 or less) generally favours sellers and a supply of 6 months or more generally favours buyers.
KITSILANO
In Kitsilano there are currently 58 active two-bedroom properties for sale, ranging in price from $382,000. to $939,900., with the average asking price being $613,310. There have been 48 sales since April, with the average selling price being $567,651. and the average cost per square foot being $609. The median sale price during this period is $544,000. The least expensive sale price so far this year was for $355,000. in March and the most expensive was for $1,188,000. in April. With 58 properties currently for sale and with 17 sales last month, there is currently a 3 & 1/2 months supply of homes, an absorption rate of 3.5.
FAIRVIEW
In Fairview there are currently 72 active two-bedroom properties for sale, ranging in price from $330,000. to $1,499,000., with the average asking price being $703,611. There have been 62 sales since April, with the average selling price being $622,792. and the average cost per square foot being $603. The median sale price during this period is $599,500. The least expensive sale price so far this year was for $303,000. in February and the most expensive was for $2,725,000. in March. With 72 properties currently for sale and with 20 sales last month, there is currently a 3 & 1/2 months supply of homes, an absorption rate of 3.5.