"[The buyers] got the best bang for their buck," the agent said.Engel & Völkers Vancouver
300 Salter St., No. 413, New Westminster, B,C.
Asking price: $1,128,000 (June 5)
Previous asking prices: $1,348,000 (July 2, 2024); $1,329,000 (Jan. 28, 2025); $1,299,000 (March 7); $1,199,000 (April 4); $1,185,000 (May 12); $1,175,000 (May 27);
Selling price: $1,070,000 (June 17)
Monthly maintenance fee: $694.56
Taxes: $4,093.75 (2024)
Days on market: 338
Buyer’s agent: Bronwyn Bertles, Engel & Völkers Vancouver
The buyers kept tabs on this property as the asking price gradually dwindled from a high of $1.348-million to a low of $1.128-million. They eventually cut a deal at $1.07-million.Engel & Völkers Vancouver
What they got
This 1,326-square-foot, three-bedroom penthouse loft overlooks the Fraser River and is walking distance to a boardwalk trail and the ferry to New Westminster Quay.
The unit is in a five-year-old building and has 10-foot ceilings in the open-concept living area, with massive windows, a lot of natural light, a reclaimed brick feature wall, an electric fireplace and high-end appliances in the kitchen.
There’s a wraparound balcony with river views, an ensuite laundry, two parking stalls and an exercise room and clubhouse on the property.
The unit has a wraparound balcony with river views.Engel & Völkers Vancouver
The action
Buyer’s agent Bronwyn Bertles had shown her clients the property in the spring, when it was listed at close to $1.2-million. They liked the space and the features such as the brick wall and built-ins, the view, high ceilings, and amenities.
“But in the spring the price just didn’t make sense,” said Ms. Bertles, whose clients were looking at other areas. “Fast forward, and the agent and I stayed in touch, checking in to see if it was available, or if my clients had found something … as the price was adjusted downward. We had additional viewings, and the buyers started to be more comfortable with the location and started to fall in love with the space.”
When they heard there was another offer, her clients made an offer of their own and got the property.
Engel & Völkers Vancouver
The agent’s take
“In the spring, we found there was a gap between buyers’ perceived value and sellers’ perceived value,” said Ms. Bertles.
With growing inventory, sellers needed to adjust expectations if they wanted to sell, and buyers had to be patient. Her clients knew to stick with a price that made sense to them, she said. Like other buyers shopping around last spring and early summer, they wanted the best value for their money, said Ms. Bertles.
The unit offered more square footage, newer construction and therefore fewer maintenance costs, good amenities and appealing design for the same or less than they could get outside of the area, she said.
“Ultimately, they got the best bang for their buck, so to speak.”
The deal was completed July 22.