661 Chapman St., Coquitlam, B.C.
Asking price: $1.399 million (Oct. 5, 2022)
Selling price: $1.4 million (Oct. 8, 2022)
Previous selling prices: $930,000 (2019); $215,000 (1999)
Days on market: Three
Taxes: $4,693.31 (2022)
Listing agents: Monica Harmse, Denny Dumas, Oakwyn Realty Ltd.
The sellers received an offer within an hour of the first open house. It was almost the asking price, with a quick subject removal period and completion date of Nov. 29. The sellers accepted.
“A major draw for this home was the turn-key condition and location,” listing agent Monica Harmse says. “It is very near to medium-density zoning and it has great potential for upside development in the future.”
The buyers are young first-time buyers that were looking for a home that could later become an investment property. The sellers are moving to the Okanagan.
What they got
The 1,932-square-foot bungalow in West Coquitlam underwent a major renovation several years ago, including new plumbing, electrical, heat, roof, drywall, insulation and windows.
The yard is fenced and surrounded by mature trees with a large deck in the back. The house has nine-foot ceilings and is bright, with an open concept living and dining area. There’s a bedroom, bathroom and den on the main level and a bathroom and three bedrooms downstairs. The kitchen has newer appliances and a breakfast bar.
The house is steps to the SkyTrain, a short drive to the highway and Burnaby Mountain, and shopping at Burquitlam Plaza.
The agent’s take
Offers that are several thousand dollars over asking are rare in the current market, says Ms. Harmse.
“Pricing strategies have been hard to get right in this roller coaster market,” she says. “Detached homes in the Tri-Cities [area] continue to be very desirable and most properties that are priced within market value continue to sell.
“If properties are priced too high this late in the year, they get stale quickly and many high-priced listings end up rolling over into the New Year. In markets like this, you also have to be cautious about pricing too low because there are not enough buyers out there willing to compete.”