1009 Expo Blvd., Unit 3502, Vancouver
Asking price: $435,000
Selling price: $417,000
Previous selling price: $322,000 (2005); $193,900 (2001); $202,000 (1998)
Taxes: $1,762 (2010)
Days on market: 14
Listing agent: Nicolas Blachette, Sutton West Coast Realty
The Action:
The number of listings in Vancouver's downtown has dropped but the number of sales has remained stable, says agent Nicolas Blachette.
"Marketwise, the downtown core, including Downtown-West, False Creek North, Coal Harbour and the West End, has seen between 190 and 230 sales within the past four months," he says. "However, a significant number of listings have expired or have been cancelled and the number of properties available has dropped from over 1,700 in August, to below 1,200."
With an average sale price of $437,350 and the average days on market at about 35 for one bedroom units in this area, it is important to, "make price adjustments for each property based on the views, age of the building and condition to establish the right market value," says Mr. Blachette. " There are a lot of one bedroom properties downtown that are overpriced, and any unit priced at market value with unique assets will sell within a couple of weeks maximum."
While there were not multiple offers on this 730 sq. ft. suite, "it was a fast sale as the buyer was one of the first to view the unit," he says.
The suite, which was constructed in 1998, may not be considered new, but it does have "one of the best panoramic city views you can find," says Mr. Blachette.
Plus, "the views are protected, as it is perched just above the low-rise Yaletown heritage district with the high-rises, the ocean and the mountains in the background," he adds.
What They Got:
Along with the view, this suite has hardwood floors, ensuite laundry and one underground parking stall.
The building has "resort type facilities," says Mr. Blachette, and these amenities include an indoor pool, squash court, sauna and exercise centre, the use and maintenance of which are covered by the $337 monthly maintenance fee which also includes garbage pickup, heat and hot water.
The new owners can also enjoy the location, nestled between the Marina-side seawall and the Yaletown entertainment district.
The Agent's Take:
"This unit sold so fast because it has two pretty rare assets that are hard to find in the downtown core," says Mr. Blachette, "the amazing and protected panoramic views ... and the super comfortable living space with extra wide floor-to-ceiling windows."
"The majority of one bedroom condos in Yaletown built in the last few years offer smaller layouts, anywhere between 500 and 600 sq. ft." With 730 sq. ft. of living space and panoramic views, the new owners of this suite got a sweet deal, he says.