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Westcoast Condominium
If past performance is anything to go by, the time is now to get into the Tri-Cities condo market. Prices have been climbing rapidly in advance of the opening of the SkyTrain Evergreen Line and sales in the area are on a roll. While December 2015 was quieter when compared with the month prior, it was still a banner month in relation to December 2014. Sales were higher in each city (Coquitlam: 77 versus 59; Port Coquitlam: 41 versus 23; and Port Moody: 22 versus 15) as were median selling prices (Coquitlam: $350,000 versus $314,800; and Port Coquitlam: $294,000 versus $232,250).
New Horizons
This Coquitlam neighbourhood has seven active listings starting from $276,000 for a one-bedroom unit in Roycroft. Listed in early December, the spacious apartment is on the four-year-old building’s top floor and is close to shopping as well as walking distance to a future SkyTrain station. The large patio offers views of the mountains and forest.
The top end of New Horizon condo listings are dominated by units under construction at The Windsor. The 25-storey tower has 208 units with three current listings on MLS. These range in price from $385,900 to $454,900. The development is adjacent to Glen Park and is part of Polygon’s master-planned community called Windsor Gate near Coquitlam Town Centre. Buyers here will also have easy access to the future Evergreen Line. All the units have two bedrooms and each boast open-plan layouts and sophisticated finishes.
A two-year-old, two-bedroom condo in the Windsor Gate complex recently sold for two per cent below its $463,000 asking price. It spent 55 days on the market before a $453,000 offer days before Christmas was too good a present for its previous owners to pass up.
Chineside
The nearby Chineside neighbourhood hasn’t been widely known for its condo developments until recently. Its proximity to the future Burquitlam SkyTrain Station is about to change that. All five of the area’s current listings are for new homes in the Uptown towers development currently under construction on Como Lake Avenue. Scheduled for completion in 2017, unit prices range from $317,900 for a sixth-floor one-bedroom to $509,900 for a two-bedroom on the 23rd storey.
Uptown developer Bosa Properties describes the site as Metro Vancouver’s next great urban village. A neighbourhood grocery and barista bar are planned for the base of the towers and Lougheed Town Centre is a hop, skip and a jump away – by car, SkyTrain, or even by foot.
Tricities Market Snapshot Dec 2015
