Balanced Market Emerging

The stats for last month indicate that a balanced market is emerging. Here are a few statistics on condo resales in Coal Harbour.

Of 107 listings, 28 were under $500,000 and 36 were between $500,000 -$1,000,000. There were 26 listings between $1-2,000,000 and 7 between $2-3,000,000. At the high end, 6 listings were between $3-5,000,000 and 4 were over $5,000,000.

The most expensive is 3,300 sq.ft. on the waterfront, listed at $5,950,000 which equals a whopping$1800 per sq. ft. The building is three years old and the presale sold for $2,365,000.

Of those listed over $1,000,000, 22 are on the waterfront.

May saw 24 sales in Coal Harbour. Of these, 9 under $500,000, 11 between $500-1,000,000 and 3 over $1,000,000. The least expensive was a 420 sq. ft. studio for $264,000 – that would be $628 per sq. ft.

Compare this with the most expensive sale at $1,305,000 for a 1620 sq. ft. three bedroom suite with views – that translates as $805 per sq. ft. The seller paid $849,000 in 2004.

Of all the sales, one sold over list and 6 were at full price. It’s interesting to note that April ‘07 and April ‘06 both had 40 sales.