“I guess paying close to a half a million bucks for 720 square foot condo doesn’t seem like such a great “investment” now.”

Are we already back to 2005 price levels for some Vancouver RE? This from meeeeeep on RETalks on 2009 Feb Sun 15, 6:36 pm

“1201-1005 Beach Avenue (the Alvar) just sold for $375K after 28 DOM. In 2005, the going price was $350K for the same unit on a lower floor. 501 sold for $345K in Oct. 2005 and 601 sold for $352K in Dec. 2005. In May 2007 one of these units (1601) sold for $438K. Considering current interest rates, it is astonishing how fast the price has fallen. I guess paying close to a half a million bucks for 720 square foot condo doesn’t seem like such a great “investment” now.”

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