Beltline condo sells in two weeks, for $9,000 under asking
The 914-square-foot unit has six appliances, plenty of counter space and a wide balcony off the kitchen.In a 13-year-old high-rise in Calgary’s downtown core, units sold in an average of 30 days this spring, yet this two-bedroom corner suite received an offer of $416,000 in about half that time.
“There were about three of them [listed] at the time: two were around $475,000 and one was $450,000,” said agent Kamil Lalji. “This sold in about two weeks, but there are a lot of units in that building that never end up selling because they are overpriced, since sellers are just trying to recover what they initially paid.”“[Almost] no one wanted to buy anything during COVID, then all of a sudden, Calgary and condos became cool again, which is different and very unique for our market,” said Mr. Lalji.
“As detached and attached housing rose in price and there’s an influx of people in the city, condos are affordable options.“A lot of tenants have said they’ve had enough, so they’re going to buy something so no landlord can ever raise their rent again or kick them out.”This 914-square-foot unit is flooded with sunlight with nearly wall-to-wall windows in the living room and both bedrooms, as well a wide balcony off the kitchen.
The two-bedroom corner suite sold for $9,000 under asking, but still brought a substantial premium over the previous purchase price.“You have windows on the east and north side with nice Calgary Tower and city views, and you could see the fireworks and all the action at Stampede.”
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