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10 Renaissance Square, Unit 308, New Westminster, B.C.Shauntelle LeBlanc/The Globe and Mail


LIST PRICE $398,000

SALE PRICE $400,000


TAXES $1,694.59


LISTING AGENT James Garbutt, Sutton Group, West Coast Realty

The Action: "It's a very unique development and highly sought-after with younger first-time buyers," says listing agent James Garbutt. He received two offers on the listing, and it sold to a young Vancouver couple. Mr. Garbutt says he sees a lot of young Vancouverites moving into the New Westminster market, which is only a 20-minute SkyTrain ride from central Vancouver.

What They Got: The two-level, 780-square-foot loft is inside the Murano on New Westminster Quay, a warehouse conversion completed in 2006. The unit has reclaimed fir flooring, 17-foot ceilings, floor-to-ceiling windows, stainless-steel appliances, and a bright view of an inner courtyard. It includes a large upstairs master bedroom with four-piece ensuite, walk-in closet and patio. It's within walking distance to New Westminster SkyTrain station, River Market, Pier Park and the boardwalk. It comes with one parking stall and a storage locker.

The Agent's Take: The unit sold just before Christmas. It received two offers at a traditionally slow time of year because it was "in great condition," and has unique finishings, with a partial water view, says Mr. Garbutt.

"Developers don't seem to spend the money on unique designs and finishings like this any more," he says. "Also, this sale proves that the market for condos is hot. The price we achieved was more in line with what we'd get at the peak of the spring, early summer [season], if not better."

A new real estate report from Royal LePage analyzing trends in the last quarter of 2016 suggests that the GTA will become the hottest housing market in the country in 2017, surpassing Vancouver.