With market slowing, condo in Vancouver’s Fairview fails to get asking price

The 686 square-foot unit is part of a heritage conversion from 1997; the building was originally a mansion.The seller-occupant purchased the unit in 2011 for $402,000. More than 20 groups viewed the property and agent Paul Albrighton received one offer. He believes that the buyer plans to live in the unit.

“It didn’t achieve multiple offers after one week, which is a more common trend we are seeing on smaller condos,” Mr. Albrighton said.The 686 square-foot unit in Fairview, near Broadway, is part of a heritage conversion from 1997. The Bollert Place building had originally been a mansion before it was converted into 29 condos, and there is little resemblance to the former old-world exterior.

The owner-occupant of the two-bedroom, one-bathroom condo renovated the kitchen, added new floors, updated the fireplace and lighting. Rental is restricted to three units in the building.Re/Max Crest Realty“We are seeing more places sold at, or near asking, as asking prices have recently increased. Also, some increased interest rates are affecting some buyers,” Mr. Albrighton said. “And much needed inventory of condos is also becoming more available.

“Market conditions are still good, and listings are selling between one and five weeks. But overall, the market pace is slightly slower than we saw in late 2021 or earlier this year.”to help you stay on top of news on the housing market, mortgages, the latest closings and more. Sign up today.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cryptocurrencies gain favour in Canada as industry matures, survey showsAs a new survey shows growing interest in cryptocurrencies and tokens, Canadians may be asking themselves what goes into getting into the worldwide market. 🎵 Grifting all the way, Ha Ha Ha 🎵
Source: CTVNews - 🏆 1. / 99 Read more »

What Canadians need to know before buying cryptocurrencyAs a new survey shows growing interest in cryptocurrencies and tokens, Canadians may be asking themselves what goes into getting into the worldwide market. Scam and ponzi scheme Don't. Don't. The end.
Source: CTVNews - 🏆 1. / 99 Read more »

Tilray narrowly misses revenue expectations despite international growthIn the past 12 months, the Canadian cannabis market’s retail prices have dropped by nearly a quarter as a result of immense competition between 800 licensed producers and 3,200 retail stores They should start taking etransfer… but maybe this has already happened? Credit is bad.
Source: globeandmail - 🏆 5. / 92 Read more »