Tight second bedroom undercuts asking price in Vancouver condo deal

405 Skeena St., No. 205, Vancouver

Asking price: $699,000 (April 8, 2022)

Selling price: $670,000 (June 3, 2022)

Previous selling prices: $650,000 (2018); $460,000 (2016); $296,900 (2009)

Days on market: 52

Monthly maintenance fee: $473.61

Taxes: $1,575.23 (2022)

Listing agent: Cheryl Davie, Stilhavn Real Estate Services

The action

The sellers were a young family moving to a bigger home. They received one offer from another young family, said the listing agent, Cheryl Davie. The feedback was mixed. Some viewers found the second bedroom too small; others appreciated that the unit was on the quiet side, and not across from the gas station.

“Feedback was that the unit was great but that the layout didn’t work for everyone,” Ms. Davie said.

What they got

This 802-square-foot, two-bedroom, two-bathroom unit with den is located in the Hastings Sunrise neighbourhood, just off East Hastings Street.

Built in 2009, the building has a gym and is pet and rental friendly and walkable to shops and parks. There is a gas station across the street.

The unit is on the quiet side of the building and has a small balcony and stacked laundry. It’s been updated with fresh paint, new wide plank flooring and custom built cabinets.

The agent’s take

Most entry level condos in Vancouver are still selling with multiple offers and over asking, said Ms. Davie, as long as they’re priced right.

“Right now we’re seeing a lot of activity,” she said. “There are still buyers out there with great rate holds they received earlier in the year that will expire in the next two weeks. This is potentially what is continuing to drive the market.”

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