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It’s a tale of three cities when comparing condo activity in the Tri-Cities. There were a combined 19 sales recently, with nine going anywhere from one to four per cent below asking, seven going right for list price (five of which were brand-new homes purchased from two developers), and three going for over asking.
The majority of available properties are in Coquitlam, where there were 289 listings at the time of writing. These range from a studio suite in the 47-year-old Armada Estates asking $109,800 to a $1.1 million one-bedroom listing in Westwood Plateau’s three-year-old Cascade development.
$135,000 is what it will take to get you in the door in Port Moody. That’s the price for a 50-year-old studio apartment. This charming city's most expensive listing is $898,000 for a two-bedroom in the North Shore neighbourhood.
Prices drop as you head east. The most expensive active PoCo condo listing is a $598,888 two-bedroom in Villagio 2. More than 30 per cent of the listings here are for brand-new properties, some ready in 2015 and others in their preconstruction phase. Buying directly from the developers will cost you anywhere from $179,900 to $364,900.
North Shore
Port Moody’s Heritage Mountain, Twin Creeks, Noons Creek, Mountain Meadows, and Heritage Woods neighbourhoods of the North Shore are relatively new and home to many parks. The 13 active listings at the time of writing range from $278,800 for a two-bedroom condo in the 17-year-old The McNair development to a two-bedroom sub-penthouse with spectacular views of the inlet in the seven-year-old Crescendo in Newport Village for $898,000.
The most recent sale in this neighbourhood was also in Newport Village. A two-bedroom, 11-year-old home here sold for $423,000 – three per cent under asking, after 18 days on the market. This neighbourhood is known for its friendly vibe and pleasant shops with European-inspired architecture.
Maillardville
This Coquitlam neighbourhood’s French roots are reflected in its street names and celebrations such as the annual Festival du Bois. There were 18 active listings here ranging in age from one to 25 years and in price from $155,000 to $389,900. The two one-year-old apartments on the market are both in the 86-unit Mackin Park development on Lebleu Street. One, an 820-square-foot apartment, is asking $294,900. A lower level, 793-square-foot home can be yours for $299,900. Both these units went on the market in June.
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