125 COLUMBIA ST., TH5, NEW WESTMINSTER, B.C.
LISTING PRICE $625,000
SELLING PRICE $651,000
PREVIOUS SALE PRICE $419,900 + GST
DAYS ON MARKET Seven
MAINTENANCE FEE $448
LISTING AGENT James Garbutt, Sutton Group West Coast Realty
The Action: The property was a draw for young families in search of three-bedroom homes, which are a rarity, says listing agent James Garbutt. He received two offers and the winning offer went to a young Vancouver couple. "With the average detached house in New West reaching the $1.15-million mark, house living has become out of reach for most. And many [municipalities] don't have enough three-bedroom properties to accommodate young families."
What They Got: This three-level, three-bedroom, two-bathroom corner unit townhouse in downtown New Westminster includes a rooftop patio and views of the Fraser River. The 1,357-square-foot unit in the two-year-old Northbank Townhouse complex is close to a park, elementary school, SkyTrain and shopping.
The Agent's Take: The sale of a comparable unit in July, 2015, was the most recent sale in the complex. That unit sold for $508,000, which is an appreciation of 22 per cent in 10 months.
"The negatives about this property include some noise from Columbia Street, the fact that the floor plan is quite vertical – there are lots of stairs – and the square footage is spread out over three levels. However, buyers can't be picky when it comes to three bedrooms at this price point."
Editor's Note: The original print and online version of this story contained a typo, misquoting agent James Garbutt as saying the average price of a detached house in New Westminster was $1.5-million. This online version has been corrected.