Vancouver real estate doesn’t get any better than Coal Harbour’s Bayshore Drive. Many buyers like this part of Coal Harbour, closer to Stanley Park and away from the business district.
Last month a client from Europe purchased a Bayshore Drive condo. He was in Vancouver in January and I had been watching all the new listings for him and analysed the statistics very closely. He got the best deal on Bayshore Drive this year, purchasing a condo on a high floor with super views for only $716 pr sq ft.
There are 7 Bayshore Drive buildings. The oldest is 1790 and 1710, built in 1997. Then 1717 and 1777 are the two waterfront buildings both built in 2000. Next came 1680 and 1650 which was built in 2003. 1616 Bayshore is the newest and was built in 2006.
There are no one bedroom condos on Bayshore Drive. The suites start at 1000 sq.ft. and are as large as 2800 sqft
Currently there are 25 listings on Bayshore Drive, from $798,000 (which sold new in 1997 for $300,000) to over $5M. The average $ pr sq ft is $1038. Most are pet and rental friendly. The most expensive is the Penthouse at 1717 Bayshore, 2500 sq.ft. listed at $5,800,000
All of the Bayshore Drive buildings have a concierge. None of them have pools.
There have been 11 sales on Bayshore Drive this year, six of them were under $1M and 4 between $1 and $2M. The least expensive was $600,000 for 1000 sq.ft. with no view. The most expensive was on the waterfront at 1717 Bayshore, over 1700 sq.ft. for $2,350,000. There were 4 sales at 1680 and they were the least expensive. 3 sales at 1616 Bayshore and one at 1790 Bayshore. The three most expensive were at 1717 and 1777 Bayshore.
As the Vancouver real estate market has improved, so have the sales on Bayshore Drive. The higher end properties are now selling better. Only one of the sales was in January and one in March. Three in April and 5 in May.
A year ago there were 10 sales in the same time period and the least expensive was $765,000 for 1000 sq ft ($765psf), so prices are down 20% .
You don’t get a waterview for a 2 bedroom at $600,000 (note that the least expensive condo has moved up in price from what sold in January) . You can get a waterview from a lower floor for $900,000. Otherwise, you have to pay over $1M.
The average days on the market for the sold condos are 73 and the list price to sale price ratio is 93%. $800 is the average $psf. The lowest is $600 psf and the highest is $1355 psf for the waterfront.
Waterfront condos on Bayshore Drive are a little less expensive than what you would pay on West Cordova. These are currently selling for $1500 psf on the front of the building and $1100 psf on the back.
View my other Coal Harbour posts
when you’re ready to buy or sell a bayshore drive condo, contact maggie who has been marketing vancouver condos since 1981
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