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508-500 Royal Ave., New Westminster, B.C.

Asking price: $555,000

Selling price: $540,000

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Previous selling price: $339,050 (2015)

Days on market: 56

Taxes: $2,142

Maintenance fee: $277

Listing agent: Adam Senuik, Keller Williams Elite Realty

The action

The unit is in a condo building near the SkyTrain, Queen’s Park and Westminster Quay shopping and schools.

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The sellers were a young family looking to upsize. The buyers are a young couple that were renting. “With supply up and demand down, many buyers are finding properties they like, but they aren’t feeling a sense of urgency to write an offer right away,” listing agent Adam Senuik says.

In this market, interested but unsure buyers often wait until another buyer comes along and makes an offer and then they step in with offers. “This has not been an uncommon scenario for 2019,” he says.

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What they got

The unit has an open-concept kitchen and living area.

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Located in downtown New Westminster, the two-bedroom condo is steps to the SkyTrain, Queen’s Park, Westminster Quay shopping and schools. The 795-square-foot condo is in a four-year-old low-rise building with a large deck, open-concept kitchen and living area and wide-plank flooring. Pets and rentals are allowed and it comes with one parking spot.

The agent’s take

The unit also boasts a large deck.

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There was a lot of traffic going through the unit, but after 55 days, zero offers, Mr. Senuik says. “Knowing we were priced close to the true value of this property, we didn’t let the pressure of time get to us, and we held at our price.” By day 56, an offer came in, so Mr. Senuik notified the other agents who’d shown interest. Another competing offer came in and it was accepted.

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