It's hard to find townhouses for less than $600,000 in Coquitlam these days.
As of this publication (Nov. 21), the cheapest listed on REW.ca is a fully-renovated two bedroom for $625,000.
And across the region, the benchmark price for a townhouse is over $1 million, according to the Real Estate Board of Greater Vancouver (REBGV).
But last month, someone managed to purchase a two-bedroom townhouse for just over $500,000.
Townhouse sells for $520,000 in two days
The property located 2-1383 Brunette Ave. — in historic Maillardville — sold for $520,000 in just two days on Oct. 13.
It helped that the seller was willing to drop the listing $9,000 from the original sale price, according to Zealty.ca.
The 28-year-old property also sold for $28,000 below its 2022 value of $548,000, according to BC Assessment, based on a 2021 evaluation.
While the Chateau Laval area home is older, it is big at more than 1,000 sq. ft.
It also has ground-floor access and a patio big enough to store a child's small playhouse, judging by the photos.
But in this changing market, some homes are still selling for more than the listed price even as they are being purchased for well under the latest assessed value.
Townhouse sells $30,000 over-asking
In this case, another older townhouse found a buyer quickly.
In the New Horizons neighbourhood, a 41-year-old residence at 3-3190 Tahsis Ave. sold for more than asking after a week on the market.
The large four-bedroom, two-bathroom unit, with 1,858 sq-ft. of living space, sold on Oct. 12 for $780,000, or $30,000 more than the $750,000 listing price.
Its assessed value, according to BC Assessment, is $801,700, meaning the home sold for about six per cent less than the current assessment.
Meanwhile, for those looking to buy, a 25-year-old two-bedroom, two-bathroom 920 sq-ft. townhouse is up for sale at 8-1561 Booth Ave. for $625,000.
Maillardville — home to French-language pioneers — is transitioning from an older established neighbourhood to an up and coming area with new development.
Recently, the City of Coquiltam opened a new community centre in the area, and is planning to build seniors rental housing next door.
Maillardville is also home to Place des Arts and Mackin House Museum.
