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Recent sales in the Royal City indicate that condo owners here are willing to make deals: all but one went for more than its list price. That was a one-bedroom unit in the city’s downtown and it sold for $2,000 over its $295,000 asking price after only one day on the market. At the other extreme, after 70 days on the market, an owner in the Quay neighbourhood settled for six per cent less than the list price of $323,800 for their one-bedroom home. Indicating that most properties were well priced, the majority sold within one per cent of their asking price.
Sapperton
There was one recent sale in this historic neighbourhood at the time of writing. After six weeks on the market, a two-bedroom home in the seven-year-old Copperstone complex went for its asking price of $265,000.
The community’s 16 active listings range from $138,500 for a one-bedroom suite in the 34-year-old Westmount Arms building to $659,900 for a three-bedroom home in the yet-to-be-built The Sapperton. The latter is the first residential tower to be built in the master-planned Brewery District and is expected to be ready for occupancy in 2017. The new community, which is located on the site of the old Labatt Brewery adjacent to the Sapperton SkyTrain Station and the Royal Columbian Hospital, is breathing new life into the neighbourhood. It will be a mix of residential high-rises, shops, and office buildings.
If newer buildings appeal to you, Sapperton may be a good bet. Condos here tend to be on the younger side: close to 90 per cent of the current listings are less than 10 years old.
Queensborough
This close-knit island community is a city within a city with its many parks and shopping areas. With 21 active listings at the time of writing, you can find yourself living here for as little as $288,800 for a two-bedroom home in a 17-year-old building. If your pockets are deeper, the most expensive current listing is a three-bedroom home in the two-year-old Glasshouse Lofts. It’s listed at $825,900.
This is a very young neighbourhood when it comes to the age of its condos. The 17-year-old listing is the exception; all the other condos currently on the market are six years old or less. Ten of the available properties are for the brand-new Portage development. These move-in ready homes are one-, two-, and three-bedroom listings ranging from $309,900 to $552,900. With great views of the Fraser River, Portage’s design is inspired by its natural surroundings as well as the area’s industrial past.
New Westminster Condo Market Snapshot
