A client for a Coal Harbour condo recently asked me how the townhouses in the neighbourhood appreciated, compared to condos. I did an analysis for him and here’s what i found.
Townhomes:
In 2010 there have been 4 sales to date. Average sale price/psf 812. Average days on market 74.
In 2009 there were 14 sales, from $1M to $3.1M. Averaged sale price/psf 861. Average days on market 73.
In 2008 there were 4 sales, from $1.2M to $4.7M. Average sale price/psf 915. Average days on market 49
In 2007 there were 7 sales, from $1.1 M to $3.3M. Average sale price/psf 914 . Average days on market 58
In 2006 there were 6 sales, from $1.1M to $3.5M. Average sale price/psf 964. Average days on market 44.
Condos:
In 2010 there were 53 sales to date, from $1M to $5.8M.Average sale price/psf 1,096. Average days on market 62
In 2009 there were 107 sales, from $1M to $6.9M. Average sale price/psf 1,128. Average days on market 95.
In 2008 there were 80 sales from $1M to $6.5M. Average sale price/psf 1,090. Average days on market 73.
In 2007 there were 86 sales from $1M to $4.2M . Average sale price/psf 1,054. Average days on market 65.
In 2006 there were 68 sales from $1M to $7.2. Average sale price/psf 1,020. Average days on market 48
I selected one building with condos and townhomes on the waterfront and compared the sale prices from 2003 when it was new to the sale price in 2010. For the 3 condo sales, the original price was $870000, $950000 and $1M. The 2010 sale price for them was $1.6M, $2.7M and $2.6M. For the townhomes in the same building, the original sale price in 2003 was $759000, 4825000, $1,050,000 and $1.2M. The 2010 sal price for them was $$1.7M, $1.570,000, $2.3M and $2.5M.
In conclusion, the condos have appreciated better, nearly trippling, whereas the townhomes have doubled. I’d say this is because the condos that i used in my example are on the front of the building and have unobstructed waterviews.
Have a comment on Coal Harbour condos vs townhomes? when you’re ready to buy or sell coal harbour real estate, contact Maggie
subscribe via RSS or email and keep up to date with vancouver’s changing real estate market
You must log in to post a comment.