[Stormer]

Originally Posted by Neil

How would you like it if the Plains/Westgate condos are:

1050 sq feet, 10' ceilings, upgrades, 1 secure indoor parking spot, price: $235k

1280 sq feet, same as above but with extra bathroom, etc, price: $300k

Because that's the current specs & pricing of units listed on skhomes and MLS as of today.

There were numerous units in all 3 of the major downtown condo towers that sat vacant all through the spring, summer, and fall. Not sure how your agent missed that if you were interested in that. The prices fell from $300+ to the low $200's and still no bites.

I know several that eventually decided to de-list and just grab the short term rent money until that market picks up. This was after months and months with very few showings. One got an offer but it was for less than $200k.

You might be seeing people attempting to sell their suburb condos for $300k. But just because somebody's asking $300k doesn't mean they're getting that or anything close. And for some reason those condos at the outskirts are more popular than downtown. Don't ask me why, I don't like 'em.

I think you are ingnoring a major difference. The exisiting downtown condos you are referring to I believe are all former office building retrofits that the developers acquired cheaply. You can't build a new, quality highrise condo for anything approaching $235 per square foot.