Downtown Vancouver condo sells at same price it went for in 2017

838 W. Hastings St., No. 2301, Vancouver

Asking price: $2.788-million

Selling price: $2.45-million

Previous price: $2.45-million (2017)

Days on market: 114

Taxes: $6,557

Maintenance fees: $1,183

Listing agent: Paul Albrighton, Re/Max Crest Realty

The action

The unit is in the Jameson House building, which was completed in 2011.Re/Max Crest Realty

The unit was first listed in May at $2.788-million, but after extensive marketing no offer came in. The seller reduced the price 72 days later to $2.688-million. Six weeks later, they accepted an offer of $2.45-million, the amount the seller had paid in 2017. The buyer is a Vancouverite who intends to reside in the apartment. The sale went through on Sept. 26.

What they got

The unit features travertine tile floors.Re/Max Crest Realty

This three-bedroom, two-bathroom, 2,056-square-foot suite has all the high-end appliances and finishings one would expect for luxury Jameson House, which was built in 2011.

It includes travertine tile floors, custom light fixtures and cabinets, integrated speakers, floor-to-ceiling windows and deluxe appliances. It has Stanley Park and ocean views at the north side of the building, with a large balcony.

The architect-designed building includes the first automated parking system in Canada, in which the car is dropped off and moved into a storage space using a lift and computer controls.

The agent’s take

The unit has ocean views on the north side.Re/Max Crest Realty

Listing agent Paul Albrighton says that while the condo market has picked up in the past two months, most of the activity is at the lower price point. In this case, the seller did not see an increase in the price he paid for it two years ago.

“It is a sign that prices have reversed in the last two years on many high-end condos,” Mr. Albrighton says. “The number of transactions in downtown over $2-million are very low.” Four months to sell a unit at this price is common, he says.

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