Kitsilano Housing Market Shift: Where Buyers Gain and Where Supply Stays Tight

As Kitsilano’s housing inventory climbs, buyers gain leverage—but not all property types are created equal. While condos defy the trend, investors’ long-term holds keep supply limited in key segments.

According to MLS® Home Price Index (HPI) for February 2025, Kitsilano’s real estate market is recalibrating in early 2025, with diverging trends across property types. Detached homes and townhomes face price corrections amid rising inventory, while condos remain stable, bolstered by investor demand and entry-level affordability. Here’s what’s driving the shift.

1. Detached Homes: Moderation After Peaks

The MLS® HPI benchmark for detached homes fell to $2,606,700 in February 2025, down 6.16% year-over-year and 11.69% from 2022’s peak. Despite the dip, prices hover 9% above January 2023’s market low, reflecting gradual stabilization as inventory inches closer to historical averages.

2. Townhomes: Buyer’s Market Emerges

Townhomes saw the steepest decline, with prices dropping 11.37% annually to $1,176,300. Competition from west-side multiplex developments and slower sales have pushed this segment into buyer’s territory, with listings lingering over 30 days.

3. Condos: Resilience Fueled by Investors

Condos held steady at a $737,700 benchmark, unchanged from 2024. Strong demand from first-time buyers and investors holding properties for long-term rental income has kept supply tight, sustaining a seller’s market. Units sell in 11 days on average, underscoring persistent competition.

Kitsilano’s market is bifurcating: cooling demand for detached homes and townhomes contrasts with condo resilience, where investor activity limits supply. For buyers, this signals opportunities in softer segments—but condos will require swift action.

WBN News - Kitsilano Edition

Signature: Bready Wu | Kitsilano Home Expert | LinkedIn Profile

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