Price adjustments help move Cloverdale rancher

18686 57th Ave., Vancouver

Asking price: $1.375 million (March 6)

Previous asking prices: $1.449 million (Jan. 25); $1,399,900 (Feb. 7)

Selling price: $1,328,500 (March 21)

Previous selling prices: $940,000 (2019); $295,000 (2003); $245,000 (1995); $161,900 (1990)

Days on market: 50

Taxes: $4,621.90 (2023)

Listing agent: Shali Tark, Sutton Group West Coast Realty

The action

The house has an open concept kitchen with quartz countertops.Sutton Group West Coast Realty

Listing agent Shali Tark had sold the unit to the sellers four years ago for $940,000, she says. They sold earlier in the year when the market was in flux.

“We did a series of [price] adjustments to attract some buyers who were on the fence about it,” Ms. Tark says, who had told the seller in advance that they should quickly adjust the price if it didn’t immediately get offers. Once they found the right price, they received two offers.

“By mid January it was still a fairly level-headed market,” she says. “That panic buying hadn’t started yet. We were on the cusp.”

The sale completes May 25.

What they got

The primary bedroom features an ensuite.Sutton Group West Coast Realty

“The home appealed to a specific buyer; downsizers who wanted rancher-style living and spare rooms. Most people looking in this price range are looking for four or five bedrooms with a mortgage helper,” Ms. Tark says. “That’s what we were competing with.”

The 1,926-square-foot, three-bedroom rancher sits on a 110- by 33-foot corner lot in the Fairview Estates area of Cloverdale. It has an open concept kitchen, primary bedroom with ensuite, quartz countertops in the kitchen, and updates to the bathroom, paint, windows, doors, trims and roof. It’s a bright house, with a large deck, landscaped yard and new fencing.

The agent’s take

The 1,926-square-foot, three-bedroom rancher sits on a 110- by 33-foot corner lot in the Fairview Estates area of Cloverdale.Sutton Group West Coast Realty

“A few buyers came through showings and open houses and said, ‘we like it, but keep us posted,’ so there was no urgency for them to put anything on paper,” Ms. Tark says.

“Given the activity level in the market and that buyers were interested but not motivated, we adjusted the price so I had something to go back to the other buyers with and let them know [it had been repriced].

“That seemed to work, because right after that we got a whole bunch of second showings come through and we ended up with an offer and a back up offer,” Ms. Tark says. “The first offer was the typical buyer profile, someone looking to downsize.”