125 COLUMBIA ST., TH5, NEW WESTMINSTER, B.C.
LISTING PRICE $625,000
SELLING PRICE $651,000
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PREVIOUS SALE PRICE $419,900 + GST
DAYS ON MARKET Seven
TAXES $2,688.19
MAINTENANCE FEE $448
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LISTING AGENT James Garbutt, Sutton Group West Coast Realty
The Action: The property was a draw for young families in search of three-bedroom homes, which are a rarity, says listing agent James Garbutt. He received two offers and the winning offer went to a young Vancouver couple. "With the average detached house in New West reaching the $1.15-million mark, house living has become out of reach for most. And many [municipalities] don't have enough three-bedroom properties to accommodate young families."
What They Got: This three-level, three-bedroom, two-bathroom corner unit townhouse in downtown New Westminster includes a rooftop patio and views of the Fraser River. The 1,357-square-foot unit in the two-year-old Northbank Townhouse complex is close to a park, elementary school, SkyTrain and shopping.
The Agent's Take: The sale of a comparable unit in July, 2015, was the most recent sale in the complex. That unit sold for $508,000, which is an appreciation of 22 per cent in 10 months.
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"The negatives about this property include some noise from Columbia Street, the fact that the floor plan is quite vertical – there are lots of stairs – and the square footage is spread out over three levels. However, buyers can't be picky when it comes to three bedrooms at this price point."
Editor's Note: The original print and online version of this story contained a typo, misquoting agent James Garbutt as saying the average price of a detached house in New Westminster was $1.5-million. This online version has been corrected.