While higher interest rates have slowed down the once red-hot housing market in Metro Vancouver, the same can’t be said for Tsawwassen townhouse sales so far in May.
Whether it be first-time buyers or empty-nesters, a number of properties are being snapped up within days of going on the market and well over asking price in some instances.
No greater example is a pair of one-year-old townhouses that were recently available in the much sought-after Southlands community in Boundary Bay.
According to Zealty.ca, a 1,607 square-foot three-bedroom unit that was listed for $1,099,000, sold for $1,269,000. A few days later, a slightly smaller residence (1,594 square-foot) also went on the market for $1,099,000 and was sold within 48-hours at $1,250,000.
Over at Tsawwassen First Nation, the bidding wars are less intense, but buyers still better be prepared to pay above asking for the leasehold properties.
That was the case with a one-year-old 1,689 square-foot four-bedroom unit available in the Mosiac’s Seaside development on the south side of Highway 17. Listed for $899,000 on May 4, the property was sold on May 6 for $995,000.
Closer to Tsawwassen Mills shopping mall, a three-bedroom 1,302 square-foot residence sold within a week for $50,000 above asking at $849,000 at Onni Group’s Tsawwassen Landing.
The benchmark price in April for a Ladner and Tsawwassen townhouse was $936,600 and $1,019,200 respectively, both almost unchanged from the previous month.
