The market is not letting up at all...seller's are having a field day, while buyer's are battling it out at the negotiation table! Here are this weeks TOP THREE CRAZY buys!
3. Ahhh, Sooke, BC...it's not so cheap here either! A newer 4 bd, 4 bath townhouse listed at $547,900, SOLD in 21 days for a $142,100 above list (sale price of $690K)...just 25% above ask. The unit is 2,732 s.f. which partially reflects the price!
2. Located in Esquimalt, this 1955 built side by side duplex features: a one bed, one bath 576 sf. unit on one side; and a 2 bd, one bath, 877 sf unit on the other. Listed at $497,000, this revenue property sold for a whopping $661,100. It lasted a mere 5 days on the market and sold for 33% above list...a cap rate of 2.9% if all the maintenance, taxes and expenses were paid by the tenant. CRAZY!
1. Who would of thought that the number 1 CRAZY BUY was a 1 bedroom + den condo in the Burnside/Gorge area, listed at $217,000 would sell in 13 days for $307,000 (a mere 41.5% above list). Clearly listed below market value!
It doesn't look like this market will be changing for quite some time. So, tune in for more market updates on future blogs. If you're thinking about buying or selling any Greater Victoria residential or commercial real estate, contact me direct at (250) 704-6970 or email me at firstname.lastname@example.org. I guarantee top dollar and your property SOLD in 60 days or less!