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done deal
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Stilhavn Real Estate Services

4941 Lougheed Hwy., Unit 308, Burnaby, B.C.

Asking price: $499,000 (Aug. 7, 2023)

Selling price: $520,000 (Aug. 23, 2023)

Days on the market: 16

Monthly maintenance fee: $517.78

Taxes: $1,417.10 (2022)

Listing agents: Cheryl Davie, Stilhavn Real Estate Services

The action

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The unit has laminate floors.Stilhavn Real Estate Services

The sellers were a young couple that had lived in the unit for about five years, but who wanted to move up in the market. Listing agent Cheryl Davie had more than 35 groups through the property and she received four offers. The purchasers were a young couple that planned on living in the unit.

“The sellers received a fair price for the property in today’s market,” said Ms. Davie. “If I was to compare to the spring of 2022, then yes, the sale price is lower than what they would have received at that time.”

The sale completed on Sept. 12.

What they got

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The unit has a west-facing patio that runs the length of the suite and a galley kitchen.Stilhavn Real Estate Services

The building, built in 1979, is on busy Lougheed Highway but is set back from the street, and the unit is on the quiet side of the building.

At 1,010 square feet, it’s a spacious two-bedroom unit with a den. It is about a five-minute walk to shops and the SkyTrain. There is a west-facing patio that runs the length of the suite, a parking space, laminate floors and a galley kitchen.

The agent’s take

“It seems like this summer the market was driven by first-time home buyers, and while rates are high, rents are also at an all-time high, so getting into the market made more sense for these buyers,” said Ms. Davie. “Is it a buyer’s market? Not yet, but that’s not to say we aren’t potentially headed there.”

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