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Westcoast Condominium
Believe it or not, buyers and sellers took a collective breath last month, allowing the pace of condo sales in New West to decrease by six per cent compared with April. If it still felt busy to you, no wonder. May 2016 sales were up 20 per cent over the same month last year.
While most properties still change hands at or close to list price, there are always some outliers. In New West last month, those exceptions go to two one-bedroom units in Uptown and Downtown that sold for seven per cent less than list price and to two two-bedroom homes in Fraserview and Glenbrooke North that received offers 24 per cent over asking. The Fraserview condo, originally listed for $379,900, ended up selling for $500,000 after four days.
Glenbrooke North
This close-knit neighbourhood only has three active condo listings starting at $248,800 for a one-bedroom unit in 8 West. The priciest listing is a two-bedroom home in the same complex; it’s on the market for $382,500.
In terms of recent sales, five area homes traded owners in May. The happiest sellers are likely in Crofton, where a two-bedroom unit went for 24 per cent over its $329,000 sticker price. Other Crofton owners weren’t so lucky. They let their one-bedroom home go for two per cent under its$299,900 price.
Quay
The Quay is a popular destination for people all over Metro Vancouver – and living here is a joy. The area’s 17 current condo listings start at $260,000 for a one-bedroom unit in Westport and go as high as $799,900 for a two-bedroom in The Excelsior.
Quay properties were selling well in May with owners accepting offers anywhere from three per cent below list (a one-bedroom in Murano Lofts with a list price of $368,800) to 11 per cent over (a two-bedroom in Dockside on the market for $539,900).
For a full summary of the New Westminster condo market in May 2016, check out our infographic below.
New Westminster Condo Market - May 2016
