Vancouver-area supply growth puts focus on realistic pricing

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Vancouver-area supply growth puts focus on realistic pricing
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The 1,710-square-foot, three-bedrooom townhouse has quartz countertops in the galley kitchen, engineered hardwood floors, stone fireplace surround, built-in speakers, air conditioning, laundry room and security system

There are quartz countertops in the galley kitchen with engineered hardwood floors and a stone fireplace.The sellers had already moved from the province and the unit was vacant. They had purchased the property for $652,000 in 2017. They listed it in July, 2019, starting at $789,000, followed by numerous price reductions. Buyer’s agent Shali Tark said the most recent reduction caught her clients’ attention.

It comes with a two-car garage, balcony and fenced yard. It’s close to schools, shopping, scenic White Rock and the U.S. border.Ms. Tark said homes that are priced well are getting attention. However, there is a change underway and supply is starting to grow. “Sellers still need to be realistic, as multiple offers right now don’t necessarily lead to someone overpaying,” she says. “My experience is that homes are still selling within the range of market value.

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