1975 Kitsilano condo sells for $238K over asking price with 23 offers (PHOTOS)
A spacious corner suite condominium in the heart of Kitsilano, sold for well over the asking price.
The two-bedroom, two-bathroom suite is located on West 8th Avenue between Yew and Vine streets, and was listed at $868,000 on June 10.
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Built in 1975, the unit was renovated 10 years ago with over $130,000 worth of updates put into it, and it also includes parking and a storage locker.
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It ended up selling for $238,000 over the asking price.
One of the features that makes the unit so appealing is its spacious 700 sq ft patio, which includes its very own veggie garden.
“Outdoor space is really, really attractive to buyers right now,” Realtor Michelle Comens told Daily Hive Urbanized.
The updates to the renovated suite include new flooring, stainless steel appliances, and windows. The unit is walking distance from Kitsilano Beach, and allows for pets.
It also features a renovated kitchen, and completely brand new bathrooms with updated plumbing.
The 23 offers received on the listing were a record for Comens, but also a challenge.
“COVID makes it extra challenging just because you can’t do open houses, so we have to do individual showings,” Comens said.
That panned out to 65 individual showings in total according to Comens.
Comens also suggested that staging is a crucial part of generating demand and excitement on a listing.
“Photos make a huge difference. My staged properties sell a lot quicker and higher than unstaged,” she says.
When it comes to demand, Comens suggests it depends on the listing.
“It’s price dependent and product dependent. What I’m finding is there’s still a ton of demand for places that are renovated, but places that need work or aren’t super shiny and new are going by the wayside,” she added.
While there has been a recent upward trend in sales in BC, a Central 1 forecast suggests they’re going to drop significantly in 2022.