We are getting a lot of numbers thrown at us these days with regard to the real estate market. The market is down overall but that doesn’t mean it is down everywhere. I have a client looking for a 1-bedroom condo in Kits. Overall, 1-bedroom condos on the West Side are selling for virtually the same price they sold for last year at this time. In Kitsilano they are actually selling for a little more and in Fairview they are selling for about 10% less. I’m not going to say that 1-bedroom condos and ones in Kits in particular, will not eventually be caught up in the downward wave but I will say that it is important to drill down a little deeper when researching the particular area in which you want to live. Be aware of the averages but don’t overlook the specifics.
Vancouver Real Estate Market Averages