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Mary Cleaver Group, Re/Max

7600 Francis Rd., No. 102, Richmond, B.C.

Asking price: $525,000

Selling price: $513,000

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Previous selling prices: $160,000 (1995); $113,000 (1988)

Days on market: 9

Taxes: $1,501.18 (2020)

Monthly maintenance fee: $400.50

Listing agent: Lisa Siperko, Mary Cleaver Group, Re/Max

The action

The upgraded unit features engineered wood flooring.

Mary Cleaver Group, Re/Max

The property sold on Feb. 19 and closes on May 11. Listing agent Lisa Siperko received two offers after two busy open houses and many private showings. The seller is moving to Langley, B.C., for work and the buyer had rented in the building years ago.

What they got

This 1,124-square-foot. two-bedroom, two-bathroom suite has a renovated kitchen and open dining room and living room. There is a lot of natural light, a fireplace, a large balcony and new engineered wood flooring.

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The building was built in 1988, but has been upgraded. It is close to transit and shopping.

The agent’s take

“There were a lot of two-bedroom units on the market in Richmond at the time,” Ms. Siperko says. “The unique quality of this one, and the square footage, is something you don’t find very often at this price point.”

Economist Mohamed El-Erian says that the coronavirus shutdown will create a buyer's market for real estate, offset by reduced incomes putting stress on the whole sector. El-Erian was in conversation with Rudyard Griffiths from the Munk Debates. The Globe and Mail

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