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602 Citadel Parade, Unit 2906, Vancouver

Listing price: $848,000

Selling price: $807,000

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Maintenance fees: $387.05

Taxes: $1,957.04

Listing agent: Ian Watt, Sotheby’s International Realty Canada

The action

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 unit has city and mountain views.

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.”

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