Skip to main content

1030 W. BROADWAY ST., UNIT 703, VANCOUVER

ASKING PRICE $438,800

SELLING PRICE $438,800

Story continues below advertisement

DAYS ON MARKET 40

TAXES $1,180.80

MAINTENANCE FEE $228.64

LISTING AGENT Bryan Yan, Regent Park Realty

The Action

This corner one-bedroom unit with den was originally on the market for $488,000 but after a month it received no offers. Listing agent Bryan Yan says he showed it to at least 30 parties, but it was priced too high. When he lowered it to $438,800, he got two offers for the full price. The purchaser intends to rent it out. Mr. Yan says it could rent for about $1,700, unfurnished.

What They Got

Story continues below advertisement

The unit has a glimpse of the water and mountains, but mostly overlooks an alley. The upside of the 585-square-foot space is that it is on the quiet side of the building. It includes engineered hardwood floors, a marble bathroom counter top, granite kitchen counters, in-suite storage and is within easy walking distance of the Canada Line and shopping.

The Agent's Take

"I found it astonishing; 30 groups coming through and no offers," says Mr. Yan. "Before the 15-per-cent foreign-buyer tax, I could have sold this for $468,000, easily. But after 30 showings, you know what the market is telling us – the market is not great."

Mr. Yan says the slowed market is a combination of the new tax as well as new mortgage "stress test" regulations that have ruled out a lot of first-time buyers. Prices, however, haven't reduced enough yet to make it affordable for that demographic.

"If they wanted to slow down the market, they've done it."

Report an error Editorial code of conduct
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

Cannabis pro newsletter
To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies