A Vancouver homeowner saw a disappointing sale of their nearly brand-new condo, which sold for $234,800 less than it did just three years ago.
Unit 2108 at 5058 Joyce Street was listed in August 2023 at an asking price of $699,000. That listing was terminated in December 2023.
The condo remained off the Vancouver real estate market until it was relisted in August 2024 for $649,999 and sold in December 2024 for $485,000.
eXp Realty of Canada, Inc.
2108-5058 Joyce Street has an assessed value of $548,000. It was built three years ago and features one bedroom, one bathroom and 439 sq ft of space, which is not exactly large considering it sold in 2021 for $719,800. The condo was built three years ago.
eXp Realty of Canada, Inc.
It’s steps away from Joyce SkyTrain Station, so the location is hard to beat for commuting.
eXp Realty of Canada, Inc.
The listing says the condo “offers the modern living experience with quartz countertops, a gas stove, laminate flooring, and more!”
eXp Realty of Canada, Inc.
The listing adds that the property has cityscape and mountain views, as well as lots of amenities. It’s also rental and pet-friendly. Amenities include “quiet study rooms, a music room, a lounge, a rooftop patio, [and] a fitness centre.”
The unit includes a storage locker, and the listing suggests it would be the perfect place for a first-time homebuyer. It has also generated some conversation online, with some believing the original 2021 sale price was an overpay.
BC Assessment says that the land is worth $431,000.
Paying $720k for a shitty tiny condo in almost Burnaby not ending well should surprise no one.
But brainwashing runs deep in #VanRE
Assessed $548k pic.twitter.com/YrkA9F5D4t— Julia Longpre (@juliamarblefaun) December 31, 2024
What do you think? Do you agree that the original owner overpaid for this Vancouver condo? Chime in in the comments.