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There was a wide difference between the list and selling prices of the 70 recent condo sales in the region’s major metropolis. At one extreme, a 45-year-old, one-bedroom in the West End’s Westsea Towers went for 11 per cent less than asking ($290,000 versus $324,800) after 27 days on the market. Tipping the scales in favour of sellers was a one-bedroom, 18-year-old home in the East Side’s Fraser neighbourhood. After one week on the market, its owner is walking away with $441,000 – 18 per cent over the $375,000 list price.
Trying to view all of the 1,400-plus condos currently on the Vancouver market would be next to impossible, which is why it’s important to know what you want before you look. You can narrow your search to the city’s West Side (1,086 active listings at the time of writing) or the East Side (324 listings), or by price range from $149,000 for a studio apartment in downtown’s Rosedale on Robson to a $19.8 million, three-bedroom home in Coal Harbour’s Two Harbour Green. Having a target neighbourhood is an important first step. Let’s take a closer look at two popular choices.
Kitsilano
It’s impossible to think of this neighbourhood without conjuring images of Kits Beach, but the area is also renowned for its organic food stores and many restaurants.
The cheapest listing is a $279,000 one-bedroom home in a 40-year-old building. It’s close to transit, shopping and the beach. The priciest option will take you farther from the water, but its large rooftop patio has great views of English Bay and the North Shore. It’s a brand-new two-bedroom condo in the Arbutus Ridge complex. This penthouse suite is on the market for $1.25 million.
Of the area’s five recent sales, one owner walked away with five per cent less than their asking price after only four days on the market ($654,900 versus $688,800) for their two-bedroom home in Pinnacle Living. Likely a happier seller was the owner of a two-bedroom unit in Blenheim Terrace who accepted an offer seven per cent over list ($535,000 as opposed to $498,000) after six days on the market.
Mount Pleasant
This vibrant and eclectic East Side neighbourhood is known for its heritage buildings and artistic sensibilities.
The area’s cheapest home is in a 51-year-old building west of Main. This one-bedroom apartment in Rosemont Manor will set you back $189,000. You can tip the scales with $1.9 million for a three-bedroom home in the six-year-old Jacobsen building. This penthouse suite boasts spectacular views of the city, water and mountains.
Of the area’s five recent sales, all but one went at or over list price.
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