4666 Wickenden Rd., North Vancouver
LISTING PRICE $1.698-million
SELLING PRICE $1.905-million
DAYS ON THE MARKET Nine
LISTING AGENT Patricia Houlihan, Coldwell Banker, Prestige Realty
The Action: Listing agent Patricia Houlihan priced it about $50,000 lower than nearby comparables, she says.
They received an offer the first day of showings, but they waited until a few days later, until more offers came in. Two offers dropped out and they were left with three firm offers. They sold for $207,000 above the asking price. The seller was a long-time homeowner who was downsizing. The buyer lived in the area.
"Most of the buyers in Deep Cove are people who already live there, or they sold in Vancouver and find it's a tiny bit more affordable," she says.
What They Got: The 2,102-square-foot renovated house in the tiny community of Deep Cove has three bedrooms, air conditioning, vaulted ceilings and sits on a quiet street. It is steps to shops, restaurants and beach.
The Agent's Take: Ms. Houlihan says the detached-home market has softened everywhere, but North Vancouver and East Vancouver prices are staying fairly strong.
"If you look at West Vancouver or Kitsilano, they are terrible right now. Sellers haven't adjusted their minds around the prices, which are lower than the peak."
She says prices in those markets have dropped by as much as 20 per cent. It doesn't mean people are losing money, however. Prices are still too high to be considered affordable.
"In North Vancouver, they just don't have to take as much of a discount."