Vancouver condo sells for $142k over asking price with 16 offers

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The Vancouver housing market is heating up. That’s according to one real estate agent who shared to Facebook that one of her listings sold for $142,000 over asking, and with 16 “amazing offers” to boot.

This comes less than a month after it was reported that the province’s housing market was predicted to recover “much quicker than anticipated,” according to the BC Resale Market Housing Outlook by Central 1 deputy chief economist, Bryan Yu.

The report stated that 2019 had a 7% decline in province-wide resale transactions, whereas 2020 and 2021 are expected to see increases of 4% and 13%.

In a phone interview with Daily Hive, Michelle Comens, with Re/Max Crest Westside, said the just-sold condo is at The Independent, located at Main Street and E. 10th Avenue.

The condo listing said that The Independent was built this year and describes the unit as a bright modern home with hardwood throughout, with a chef’s kitchen and Italian cabinetry, with a fabulous balcony overlooking a panoramic city and mountain views with total privacy — adding amenities, with a half-acre backyard and 3,300 sq. ft. indoor amenity space.

At Main and 10th, the new owner will be close to cool cafes, shops, and restaurants.

Comens said for a condo, she’s never had an offer that much larger than the asking price, “when the market was still heated up about two years ago, it was pretty common for places to go like a hundred, 150 over with that many offers, but we haven’t seen that kind of activity for quite some time.”

As to what made this condo so special to sell more than $140,000 over asking, Comens said she’s not sure if it’s the brand new building itself, “[there] hasn’t been almost any sales in the building yet,” explaining it was a pre-sale in 2015, and a lot of homeowners just got possession this past summer.

However, Comens said the condo in The Independent has an “amazing” and “rare” view of Vancouver, “the first time I went there I was actually quite shocked because where you’re situated on 10th, you’re kinda up the hill there and then you’re on the 15th floor.”

“I think people were really astounded by that view.”