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Done Deal, 928 Richards St. No. 1906, Yaletown, Vancouver
Done Deal, 928 Richards St. No. 1906, Yaletown, Vancouver

Oversupply cuts price for Yaletown condo Add to ...

928 RICHARDS ST. NO. 1906, YALETOWN, VANCOUVER

ASKING PRICE $499,900

SELLING PRICE $491,000

PREVIOUS SELLING PRICES $445,000 (2008); $242,000 (2002); $185,681 (2000)

TAXES $1,954 (2010)

DAYS ON THE MARKET 14

LISTING AGENT Patricia Houlihan, Macdonald Realty

The Action: When this two-bedroom-plus-den corner suite at the Savoy was listed earlier this year, there was a surplus of properties that lingered on the market as buyers took their time to make a selection and negotiate on price.

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About a dozen buyers promptly viewed this condominium and one eventually made a proposal just shy of the asking price to seal the deal.

What They Got: On one of the higher floors of an 11-year-old high-rise downtown, this 750-square-foot unit was designed with many modern attributes, such as its open-floor plan, upscale finishes and floor-to-ceiling windows oriented towards the south and west.

The central entertaining area features a gas fireplace and dining area by the galley-style kitchen, which sports new stainless steel appliances, granite counters and breakfast bar.

Other practical luxuries include a balcony, two full bathrooms and laundry facilities, as well as parking and a storage locker.

Residents have access to a large indoor pool, whirlpool, sauna and fitness facilities, which are all maintained with funds from a monthly fee of $321.

The Agent’s Take: “The average price per square foot for units in that building over the last year was $652, so we were a bit concerned that given the … market conditions for condos, we might have to go below this average,” recalls agent Patricia Houlihan.

“However … [this]sold higher than the average price per square footage, [so] clearly location and quality of building is still key, and of course, pricing sharply ensures the condos don’t sit on the market too long and become stale.”

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