Tri-Cities Condo Market Snapshot: Oct 16-30, 2015

Date
13.11.2015
Words by
Jill Lunde
Tri-Cities Condo Market Snapshot: Oct 16-30, 2015 hero imageTri-Cities Condo Market Snapshot: Oct 16-30, 2015 hero image
The family-friendly cities of Coquitlam, Port Coquitlam and Port Moody offer lots of choice for condo-hunters needing multiple bedrooms

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When size matters – and it often reigns supreme in the suburbs – the Tri-Cities have plenty to offer home hunters. Sixty-seven per cent (295) of the area’s active condo listings have at least two bedrooms. That’s the minimum amount a condo dweller with a child is going to want. The median size of these properties is 947 square feet… which allows for a whole lot of living.

The largest condo available is also a brand-new one. At 1,637 square feet, this two-bedroom unit in Evergreen in North Coquitlam was listed in late October for $488,888. Close to the almost complete SkyTrain line and with a huge deck, this move-in ready home also has great city and mountain views.

Of the 33 recent sales in the Tri-Cities, the largest condo to go was 1,967 square feet in Central Port Coquitlam. It spent close to three months on the market but the owners walked away with $616,000, three per cent more than their list price.

Westwood Plateau

Known for its extensive greenbelts, this Coquitlam neighbourhood offers easy access to outdoor recreation. There are 36 active listings here with a median price of $381,344. The largest condo on the market is also the area’s most expensive. At $1.1 million, it has a total floor area of 1,930 square feet, but it’s not for you if you have kids – it’s a one-bedroom penthouse in the three-year-old Cascade building.

There are five three-bedroom homes currently available. These run from $428,888 for a 1,119-square-foot home in the family-oriented, 10-year-old Silver Springs complex to $510,000 for a 1,294-square-foot corner unit on the top floor of the Lanterns building.

There were five recent condo sales in Westwood Plateau and all went for one per cent below their asking price. In terms of floor area, the largest was a 1,130-square-foot, two-bedroom home in Dayanee Springs. After 11 days on the market, the owners accepted an offer $5,000 under their $415,000 list price.

Central Port Coquitlam

Most condo owners in this PoCo community enjoy walking distance to shopping, restaurants and other amenities including the West Coast Express, but are also close to parks and recreation facilities. Of the area’s 93 active listings, 52 are two-bedroom homes and six feature three bedrooms. All of the latter listings are in the Orchard Valley Estates complex, which has easy access to a number of schools. Prices range from $145,000 to $168,000.

There were three recent condo sales in this neighbourhood: one sold at list price; one went for under asking; and the other went for three per cent over list.

Tricities condo market snapshotTricities condo market snapshot

Tricities condo market snapshot

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Tri-Cities Condo Market Snapshot: Oct 16-30, 2015 | REW | The Guide