By Sarah Baikie
Recent sales at Lindenwood multi-family development are impressive to say the least.
If you’re not familiar with Lindenwood, it’s a complex of approximately 70 multi-family units. Built by Seymour Pacific Developments around 2009-2010, located on Evergreen Road, West of Dogwood, just opposite the BC Hydro office. Within the complex is a range of townhouses and ranchers very similar in design to each other, cookie cutter type of homes.
Easy living; three bedrooms, two bathrooms, a single garage, a private fenced rear yard for each unit. Nothing too scary about the rules and by laws; you can have a dog and a cat with no size limitations on either. Come home from work, drop your bag, and relax.
In 2012, only four of the eight units listed on MLS sold. The average list price was $222,050 with an average sale price of $217,000. That’s an average of $5,050 less than list price or otherwise known as 98 per cent of list price. The average days on market, prior to an offer becoming subject free, was a staggering 218. A big test of seller’s patience.
So far for 2013, eight of the nine units listed have sold. The average list price is $230,214 and the average sale price is $226,571. That’s an average of $3,643 less than list price or otherwise known as 98.5 per cent of list price. The average days on market to sell is an impressive twenty-four days, which basically means within approximately two weeks an offer is presented. You better have a good Realtor if you’re looking to buy one of these units.
From 2012 to 2013, that’s an average $9,571 sale price increase. Impressive performance. If you’re thinking of raising the price of your property after reading this column, it depends what sector of the market your property falls into as this increase is not across the board. Talk to your Realtor.