“I’ve been following the Kitsilano listings in Van since 2007. They normally hover between 95-120 units on the market for any given month. Today= 156.”

From CoB at greaterfool.ca 6 Feb 2010 3:14 pm and 8:33pm – “I’ve been following the Kitsilano listings in Van since 2007. They normally hover between 95-120 units on the market for any given month. Today= 156. … In 2007 we had started the process of buying a condo in Kits. But then we came to our senses and kept renting. I don’t know what the surge of listings means. I have noticed that most of the units have jacked up their prices … only 27 today under 425K. I’ve been using ‘425K’ as my over/under benchmark for the land transfer tax threshold. Several of the properties currently on MLS have been there for months and aren’t exactly flying off the shelves. We had two units in our condo building for sale recently (330K- 1 bed;  419K, later reduced to 379K, for a 2-bed) both units took +60 days to sell and I don’t know what they sold for. We’ll keep renting for half the cost of buying.”

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