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If you want to see a community where sold signs are going up faster than you can imagine, take a trip to Ladner and Tsawwassen. Condo sales in these South Delta neighbourhoods were up 80 per cent in March over February, while listings were down by 11 per cent. While the picture wasn’t quite as rosy for Richmond sellers, sales were still a healthy 23 per cent higher than the previous month. Listings in the Garden City also enjoyed a vigorous 23 per cent increase in March over February.
Interestingly, while sales were up in South Delta, the median selling price was down by almost $40,000 over February sales. Well over half of the sales in our analysis went at or below asking price, with a few anomalies including a Beach Grove condo that sold for 25 per cent above list after a week.
Richmond’s median selling price was also down – though not as much. Here close to 90 per cent of our reported sales were at or below asking price.
Boyd Park
The Boyd Park neighbourhood is part of West Richmond’s Seaview subdivision, minutes from the airport, the Oval, Steveston, and an easy commute into downtown Vancouver. There are nine active condo listings in generally older buildings ranging in price from $148,000 for a one-bedroom that came on the market in February to $284,888 for a two-bedroom in Apple Greene that was listed in late March.
The Apple Greene complex is large and there were three sales there last month – all changing hands within two weeks of listing. The only one-bedroom went for one per cent less than list ($236,000), while two two-bedroom units sold for three and four per cent over list.
Neilson Grove
This Ladner neighbourhood has just one active listing. It’s a large two-bedroom in Shorewalk with views of the local yacht club. $649,900 is the minimum this owner is hoping for.
A one-bedroom Shorewalk unit changed hands in March. Asking $379,900, that owner is happily pocketing an additional 13 per cent with the $430,000 final price being agreed upon six days after the property was listed.
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