Apartment sales in New Westminster in March climbed back up to their highest level since last spring.
MLS monthly sales figures, reported by Zealty.ca, show 76 apartments sold in New Westminster in March, up from 52 in February and just 27 in January.
March’s total was the highest seen in New West since June 22, which saw 81 apartments sold.
Sales totals, however, remain well off the pace of the previous two years.
March 2022 saw 149 apartments sold in New West, while March of 2021 racked up a whopping 174 apartment sales.
At the same time, the median price for apartments has dropped, from $630,500 in February 2023 to $582,500 in March. That’s the lowest median sold price for apartments in New West since October 2022, when the median dipped to $555,000.
It’s also significantly lower than March a year ago: in 2022, March saw a median selling price of $675,000 for apartments.
As for where apartments are selling? Uptown remains the most common neighbourhood for sales, accounting for 28 of the apartments sold in March.
Downtown saw 12, Fraserview 11 and the Quay 10, with Queensborough and Sapperton at six apiece. The Heights saw two apartments sold, and Glenbrooke North one.
Queensborough was the highest-priced neighbourhood, with a median sold price of $895,000 in March. On the other end of the price spectrum, the Heights had the lowest median sales price, at $469,500.
Median sold price of apartments in New Westminster: 2023 to date (January to March)
- All areas: $608,000
- Queensborough: $885,000
- Fraserview: $690,000
- Glenbrooke North: $640,000
- Quay: $674,500
- Downtown: $590,000
- Sapperton: $529,250
- Uptown: $522,000
- The Heights: $469,500
- West End: $455,000
(Data in this story was taken from monthly MLS statistics reported at Zealty.ca.)
Follow Julie MacLellan on Twitter @juliemaclellan.
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