814 ROYAL AVE., UNIT 1405, NEW WESTMINSTER, B.C.
LISTING PRICE $388,000
SELLING PRICE $439,500
PREVIOUS SALE PRICE $321,000 (2011)
DAYS ON MARKET Six
MAINTENANCE FEE $308.47
LISTING AGENT James Garbutt, Sutton Group West Coast Realty
The Action: James Garbutt received six offers and a young man from Vancouver purchased the unit. "It is the highest sale, not just in total dollar value, but also price per square foot in all three of the News buildings to date," Mr. Garbutt says. "It took place two weeks after the new foreign-buyer tax, and provides clear evidence that the market slowdown isn't affecting all properties." He sold another unit in the same building two weeks later for $422,000. He says there is strong demand from millennials for condos in the heart of New Westminster.
What They Got: This two-bedroom, two-bathroom, 870-square-foot unit has southeast views of the Fraser River and Mount Baker. The nine-year-old News North building is in downtown New Westminster, near the SkyTrain station, shopping, a movie theatre and Douglas College. The open concept unit is finished with granite countertops and laminate flooring, and the kitchen comes with stainless-steel appliances.
The Agent's Take: The unit is in one of three buildings that make up the News project. The major selling feature was the view, as well as two parking stalls and updates that included new floors and paint, Mr. Garbutt says. "These properties typically attract first-time buyers who value being close to amenities and SkyTrain."