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The Yates on Yates is one of two 20-storey residential towers on a property spanning the 700-blocks of Yates and Johnson streets in downtown Victoria.
The tower encompasses 122-suites of one, two, and three-bedroom condominium residences and four townhomes. A ground floor commercial component fronts onto Yates Street.
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Approximately 7,850 square feet of ground floor retail space will front onto Yates Street.
Well, the owner of #706 bought it for $729 in 2021*, and is asking $719.9 now. Hopefully that $9,000 is not their life savings.
*when interest rates were at record lows.
Dont forget to also take off the RE commission and legal fees. But lets see what it actual sells for in this market.
Does anyone have a good idea what the likely sale price is going to end up being?
Nothing screams affordability like losing your life savings.
You cannot demand housing affordability, while still hoping your existing home retains value. You cannot have it both ways, no matter what our new federal housing minister says.
Overall sales are up 15% this June. If the downtown condo market were closer to normal, we’d be seeing a 20 or 25% jump. The rest of Canada /= Victoria, no matter how much the fear mongers would like us to believe.
Absolutely, Victoria is doing much better than either Vancouver or Toronto. Also agree that sales for greater Victoria are doing well. Oak Bay and Sidney are doing really well for instance. The downtown condo market not so much.
Mike, love your over the top and dramatic pronouncements. So you are saying that the downtown condo market is booming.
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