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One-bedroom condo in Vancouver’s Main Street neighbourhood gets four offers

Done Deal, 222 E. 30th Ave., Vancouver.

222 E. 30th Ave., unit 201, Vancouver

Listing price: $688,000

Selling price: $730,000

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Days on market: 7

Taxes: $1,489.49

Maintenance fee: $325.05

Listing agent: Terry Osti, Re/Max Crest Realty

The unit faces away from noisy Main STreet.

What they got: This 714-square foot, one-bedroom with den condo is located in Vancouver’s desirable Main Street neighbourhood. The six-year-old building, called the Riley, is walking distance to Queen Elizabeth Park and Hillcrest Community Centre. It allows pets and rentals. The unit is in original condition, bright and east facing, and includes details such as stone counter tops and high-end appliances.

The one-bedroom unit features a large patio.

The action: Listing agent Terry Osti held three open houses and saw about 40 groups go through the unit. He received four offers and the seller went with the one that was subject-free. The sellers were owner/occupiers, and the buyers plan to be as well.

“We are in a seller’s [condo] market on Vancouver’s east side right now,” says Mr. Osti.

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The sales ratio for east side condos and town homes in the same price range was 85 per cent, as of February, according to SnapStats. A seller’s market has a sales ratio of 21 per cent and greater.

The agent’s take: “The big selling features on this one are the large patio and the position in the building facing away from noisy Main Street,” says Mr. Osti.

He says about 80 per cent of his condo buyers plan to occupy their purchases, while about 20 per cent are buying as investments.

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