1000 Beach Ave., unit 501, Vancouver
Asking price: $1.098-million
Selling price: $1.123-million
Days on market: 6
Maintenance fee: $667.78
Listing agent: Ian Watt, Sotheby’s International Realty Canada
The sellers were a growing young family that had lived in the unit for a few years and needed a third bedroom. The buyer was a young Toronto family attracted by the price and location. The unit did not have a water view, unlike others in the building.
What they got
The fifth-floor, two-bedroom, two-bath condo is 1,339 square feet and comes with wood floors, a brick feature wall and an updated kitchen. Built in 1993, the condo is spacious by today’s standards and well located, in the Yaletown neighbourhood.
The agent’s take
“A lot of people in the building were complaining about the price,” listing agent Ian Watt says. “They said, ‘That’s way too low!’ But the fact is, we had 30 people come through the open houses and we received two offers. So we priced it right. It’s not like we had 10 offers.
“It’s a kind of a lesson for everybody out there – if your property is not selling within a month, it’s overpriced. There are buyers, but they don’t want to pay last year’s price.”
Mr. Watt says when the market was at its peak, the unit would have sold for about $1.3-million.
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