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Ian Watt Personal Real Estate Corporation - Sotheby's International Realty Canada

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What's the New Benchmark for Luxury Condos in Coal Harbour?


Vancouver Condo Real Estate Video Blog #607 - October 1, 2010

 

What's the New Benchmark for Luxury Condos in Coal Harbour? 

 

Ian Watt video blogs about how there have been no re-sales of luxury condos above $3 million at the Fairmont Pacific Rim reported on the MLS since the 2010 Winter Olympics and whoever sells next might set the new benchmark for luxury in the building and in Coal Harbour. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs.

 

Ian Watt: Hi, Good afternoon! It's Ian Watt in Downtown Vancouver. Wanted to talk to you about luxury condominiums in Coal Harbour. Obviously the market is changed substantially since the Olympics. Now when we look at the Fairmont we have the sub-penthouse for sale and we started out at 8.0 and now were under 5 graph 4.99 we've come down for 3 million dollars and that's pretty much how it is in Coal Harbour right now. There are 24 units for sale at the Fairmont above 3 million dollars not one has sold since the Olympics. So there are some price changes happen. Not a lot, most people stick on their guns but not a lot to report but things are changing. So don't be intimidated by the prices. You never know the guy next door, the guy down below he might be motivated and that guy is going to set a new president for the building or for the neighborhood. Its going to be very interesting now that we've dropped it to 4.9 is that the new benchmark for the luxury? I don't know what it is. We'll find out when the offer comes in but my name is Ian Watt if you have any questions. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!