Kitsilano, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $1,850,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.5% |
Apartment
| Median price | $850,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $1,500,000 |
| 3 bedrooms | $1,850,000 |
| 4 bedrooms | $2,200,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $700,000 |
| 2 bedrooms | $850,000 |
| 3 bedrooms | $1,000,000 |
Demographics
| Current Population (2024) | 19,000 |
| Previous Population (2019) | 18,500 |
| Population Change | 2.7% |
| Total Private Dwellings | 8,000 |
| Occupied Private Dwellings | 7,400 |
| Population Density (per km²) | 2.4 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The current real estate market in Kitsilano, British Columbia, is characterized by a steady increase in property values. With the median house price standing at $1,850,000 and experiencing a year-over-year growth of 2.8%, the market is demonstrating sustained resilience. Similarly, the median apartment price is set at $850,000, with a slightly lower year-over-year appreciation of 1.5%. These trends indicate a stable market environment that continues to attract homeowners and investors alike.
As part of the Greater Vancouver area, Kitsilano’s housing demand is influenced by its desirable location, proximity to beaches and downtown Vancouver, as well as its vibrant community lifestyle. The population in Kitsilano has grown to approximately 19,000 residents, showcasing a healthy population growth rate of 2.7%. This demographic expansion supports the ongoing demand for housing and contributes to the overall market vitality.
Investment Opportunities and Potential
Kitsilano presents several investment opportunities with potential for both rental income and capital appreciation. The neighborhood’s strong housing demand is bolstered by its appeal to both professionals seeking an urban lifestyle close to employment centers and families drawn to its reputable schools and community amenities.
Investors considering Kitsilano should note the consistent upward trend in property values, which suggests that investments made today are likely to benefit from continued appreciation over time. The diversity of properties ranging from detached houses to apartments allows for various investment strategies catering to different segments of the market. With Kitsilano’s reputation as one of Vancouver’s most sought-after neighborhoods, rental properties here are likely to command premium rates.
Future Market Outlook
The future outlook for Kitsilano’s real estate market remains optimistic. Factors such as ongoing population growth, limited housing supply in desirable Vancouver neighborhoods, and a strong local economy contribute positively to future demand for housing in this area. Given these conditions, along with historical data indicating long-term price appreciation, Kitsilano is poised for sustained growth within the Vancouver real estate landscape.
While economic fluctuations and changes in government policies can impact market dynamics, Kitsilano’s inherent attributes — including its location, quality of life, and community amenities — provide a buffer against significant downturns. Investors and homebuyers can find confidence in these enduring qualities when considering their real estate decisions in this robust market.
