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Westcoast Condominium
The quantity of Tri-Cities listings is at one of its lowest points of the year, but the quality of those listings is arguably as good if not better than ever with more than 35 per cent of the properties having come on the market since January 1. These 64 properties range from a two-bedroom in Port Moody Centre’s Sonrisa for $279,800 (listed January 4) to $629,000 for a two-bedroom in the same neighbourhood’s The Residences at Suter Brook complex that was listed January 13.
A high-level review of five January sales in the Tri-Cities indicates buyers accepting offers anywhere from three per cent below asking to six per cent above.
Port Moody Centre
While Moody Centre is home to many character heritage buildings, the average age of the area’s 21 active condo listings is seven years with none older than 13. More than half of the listings are new this year and many of their eventual owners will soon be taking advantage of the neighbourhood’s Evergreen Line SkyTrain station. The most affordable listing is $275,000 for a two-bedroom in Sonrisa that came on the market in November. The most expensive? The aforementioned Suter Brook home for $629,000.
One of the community’s most recent sales took place January 11 in The Residences. This two-bedroom home lasted only a week and was snapped up for six per cent more than its $588,900 list price. That extra $33,100 must feel awfully good in the seller’s pocket.
Central Port Coquitlam
More than half of this neighbourhood’s 19 active listings came on the market in 2016, including three homes in phase 1 and 2 of the Orchid Riverside Homes complex. Developed by Quantum Properties, Orchid consists of 185 homes in two buildings. Prices for the development range from $279,900 to $299,900. The area’s most expensive listing is another two-bedroom, this time in the seven-year-old Villagio 2 building. Its owner is asking $469,000 and has been waiting for an irresistible offer since October.
The sellers of a three-bedroom home in Central Port Coquitlam’s The Maples building were celebrating on January 11. That was the day their home sold for one per cent over its $389,900 asking price.
Tri-Cities Condo Market Snapshot
