As seen in...
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New Westminster remains a good city to do business in – condo-buying business, that is. Of the 18 recently reported sales, only two went for more than list price. Most owners accepted offers below list, as much as four per cent under asking for three of the properties. That included the owner of a new condo in the Trapp + Hollbrook building in downtown New Westminster. It was listed at $325,000 but the buyer closed the deal at $312,500.
The happiest seller was likely the owner of a two-bedroom condo in Fraserview’s Palace Quay tower. After just over a week on the market, that unit sold for eight per cent over asking: $420,000.
The median selling price for these 18 condos was $319,800… considerably higher than the $299,900 median listing price of the city’s 274 current listings.
The Quay
This riverside neighbourhood has lots going for it including its boardwalk and easy access to parks, shops, and transit. It also offers plenty of choice when it comes to condo living with 47 active listings. A one-bedroom in Laguna Landing is the area’s least expensive option at $267,500. The most expensive current listing is a three-bedroom presale at Riversky 1 which is asking $715,900. The area’s median price ($399,000) would see you living in a spacious two-bedroom corner unit in The Riviera tower which boasts an indoor pool, Jacuzzi, fitness room and large common outdoor patio.
Come prepared to lowball the price. Of the neighbourhood’s seven recently reported sales, all but one went for under asking. The exception was a two-bedroom situated right on the boardwalk with great river views from its living room and patio areas. The owners here walked away with $10,000 more than their $350,000 list price after 11 days on the market.
The Heights
This New West neighbourhood crosses a lot of territory and its three active condo listings are great options for studious folks, being close to either Douglas College or the Justice Institute. The two JI options, which are also close to Queen’s Park, are side-by-side listings. They are both 627 square feet; one is listed for $209,900 and its neighbour for $215,000. Closer to Royal City Centre Mall is the third neighbourhood option. This two-bedroom top-floor unit is on the market for $230,000.
There was one recently reported sale in The Heights: a two-bedroom listing was asking $283,800. The owners agreed to an offer two per cent under asking: $279,000.
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