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done deal

Re/Max Select

1710 Bayshore Drive, No. 1305, Vancouver

Asking price: $1.158-million

Selling price: $1.158-million

Previous sale price: $269,000 (1997)

Days on market: 4

Taxes: $2,860.70

Maintenance fee: $545.47

Buyer’s agent: Ian Watt, Sutton Group West Coast

Listing agent: Donna Leyland, Re/Max Select

The action

The deal closes in the next couple of days. Americans owned the unit but sold because of the new city and provincial empty home taxes, agent Ian Watt says. The buyers had taken the risky step of selling their apartment to rent and sit outside the market for a year until prices reduced.

“They managed to time it properly and jump back in,” Mr. Watt says. “It’s hard to do. They totally lucked out in their timing.”

What they got

The unit has floor-to-ceiling windows and a gas fireplace.Re/Max Select

This West End corner unit is in a 22-year-old building that overlooks Stanley Park and the North Shore mountains.

The 1,000-square-foot two-bedroom and den unit has a gas fireplace, floor-to-ceiling windows, air conditioning, and includes parking.

The agent’s take

Mr. Watt estimates that his clients would have paid about $100,000 more had they purchased the unit a year ago. But he also believes that downtown condo prices have plateaued.

“The condo market under $1.25-million is really active, so I think we’ve hit bottom,” Mr. Watt says.

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