602 Citadel Parade, Unit 2906, Vancouver
Listing price: $848,000
Selling price: $807,000
Maintenance fees: $387.05
Listing agent: Ian Watt, Sotheby’s International Realty Canada
The sellers had bought the condo as a presale investment nearly 12 years ago. They sold because they are non-residents and didn’t want to pay the empty-homes tax, according to listing agent Ian Watt. “So they took their money elsewhere.” The buyers are a young local couple that had been looking for the past year.
What they got
The 807-square foot, two-bedroom, mid-market condo is walking distance to the SkyTrain station, Costco, Rogers Arena, Yaletown and the seawall. It features a flex room and west-facing patio with city and mountain views. The building has a 24-hour concierge and gym.
The agent’s take
Sales and prices in the downtown condo market are dropping, Mr. Watt says. Comparable prices are in the $1,200-a-square-foot range, but the unit sold for $1,100 a square foot and, even then, it wasn’t an easy sell. “Lots of people came to see it, but we only got the one offer and it sold a little lower than asking. That’s the reality.”