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Westcoast Condominium
With single family homes becoming increasingly expensive, more people are turning to condos as a place to settle down and raise the kids. While the median selling price of a detached house in Burnaby last month was nearing $1.5 million, condos – even the larger ones – were a much more affordable option. Find an apartment near a park, and you’re set for outdoor activity and you won’t be spending your weekends cutting the grass.
Three-bedroom condos make up only six per cent of Burnaby’s active listings, but they can be found in neighbourhoods throughout the city from north to south.
Central Park
With all the amenities in Central Park, this is a fantastic family community. While there are no schools in the immediate neighbourhood, several are within walking distance and the SkyTrain provides easy access to points throughout the Lower Mainland. Of the area’s 12 active listings, there are three two-bedrooms with over 1,000 square feet. All are on the north side of Kingsway: two are in Durham Place (asking prices: $438,000 and $439,000) and the other is in Sheffield Court ($418,800).
Nearby, a three-bedroom in the Paramount complex spent five days on the market before being snapped up for $613,800 – two per cent over its $599,000 asking price.
Highgate
Head east from Central Park, past Metrotown and you’ll arrive in the Highgate neighbourhood. Among the area’s 48 active listings, two are three-bedroom homes and 14 offer more than 1,000 square feet of living space. One of the three-bedroom condos is a garden suite in Espirit 2 which boasts a large fenced patio. It was listed in early February for $598,800 – that’s almost a third of the cost of most detached houses in this city. It’s also close to shopping, a community centre and SkyTrain.
A three-bedroom penthouse in the neighbourhood’s Arcadia complex sold recently. Listed for $739,900, this 1,398-square-foot home spent 27 days on the market before changing hands for one per cent under asking. That’s about half the price you’ll pay these days for a detached home in Burnaby.
Burnaby condo market snapshot
