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Case study - Kits Condo


Market Condition:   Seller's Market
Home Type:   Condo 
Age:   1974
Location:   Kitsilano
Size:   1BR/1BA, 500 sf
Challenges:   Vacant, appeared dark, kitchen appliances
Highlights:   Good flooring, south facing balcony, quiet side, parking and storage, pets and rentals allowed
Costs:   $4500 (Staging, paint, appliances)  
Listing Price:   $499,900
Days on Market:   7
Offers:   Multiple
Showings:   43
Result:   Sold well above asking


The home was in a great location, was south facing with great light and an inviting balcony on the quiet side of the building. While the market was very strong and many homes were selling above asking and in multiple offers, Gavin felt that this home could achieve a higher price with some investment. As this home would appeal to first time buyers, singles or young couples, having a home that was ready to move into would likely increase interest in the home. As this condo was in an older building, it was an important consideration for these types of buyers who may not have had extra money for renovation. At the time of pricing, this home would have been priced in the lower end of all available similar homes on the market in that area. The goal was to present a very attractive home at a good price. The decision was made to completely paint the home and replace the fridge, stove and have the home staged. 


Professional photos, video and professional floorplans were created to market the home. The video included scenes from the local area to showcase the great neighbourhood. The staging used apartment size furniture and emphasized bright neutrals which made the apartment feel more spacious. The painting immediately improved the light and brightness of the suite, reflecting the natural light coming from the balcony.  


Once listed, the home was immediately getting attention. As the unit was vacant, it was easy to show and resulted in dozens of private showings and two very busy open houses. Offers were held for presentation until the following week and resulted in multiple offers and a higher than anticipated sale price. While it is likely the home would have sold in multiple offers and over the asking price, the small investment in improvements and marketing the home with its best foot forward brought the seller more interested buyers and a much higher price than anticipated. In this case, big impact marketing for this small home was worth it.

Click to view the original listing of this property including photos and video. 


Gavin Hughes

Oakwyn Realty Ltd.

101-3151 Woodbine Drive,   North Vancouver  V7R 2S9 

Mobile: 604-626-6618

Phone: 604-630-7233