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It was a scorching month in New Westminster last month when it came to condo sales. The 145 properties that changed hands in April marked a 30 per cent increase over an already remarkably busy March. While several went for under asking (as much as 15 per cent under in one instance) those sales were easily balanced by condos selling well above their list price – as much as 25 per cent more.
Fraserview
As its name implies, this neighbourhood is known for its great views of the Fraser River and right now there are more than 30 listings that could be yours if the stars align. Condos here start at $295,000 for a one-bedroom in Carlyle that was listed in mid-April and go as high as $639,000 for a Victoria Hill North Tower three-bedroom home.
Over 20 Fraserview condos changed hands in April. The least satisfied sellers may well be the ones in Whittaker who waiting for three months before letting their one-bedroom go for four per cent under their $299,000 asking price. At the other end of the scale, we can only assume the owners of a two-bedroom in Gatehouse Place were ecstatic when then received the $525,000 offer that was 24 per cent over asking after six days.
Uptown
In this neighbourhood, classic single family homes rub shoulders with new condo developments. And, in those developments are 58 active listings. You can call New West’s Uptown home for as little as $123,000 (a one-bedroom in Grosvenor Court listed in February) or spend a bit more, say $795,000, and you could own a three-bedroom in Viceroy that came on the market on April 21.
Some 25 Uptown properties changed hands in April and there was the same gamut in prices. The buyers of a one-bedroom in Coventry Court are likely glad they low-balled their offer (five per cent lower than the $185,000 list price), while it was the sellers who were probably celebrating closing a deal on a two-bedroom in Queen’s Terrace. Those owners held out for 128 days but they would likely say that was worth the $275,000 offer they finally accepted given that it was 25 per cent more than asking.
New Westminster Condo Market Snapshot
