Condo near Cobourg Beach sells after price drop

Coldwell Banker R.M.R. Real Estate

125 Third St., No. 409, Cobourg, Ont.

Asking price: $689,800 (March, 2023)

Previous asking price: $698,000 (February, 2023)

Selling price: $670,000 (April, 2023)

Previous selling prices: $349,000 (June, 2016); $320,000 (August, 2009); $215,352 (December, 2005)

Taxes: $3,830 (2023)

Property days on market: 47

Listing agent: Sharyn Hessin, Coldwell Banker R.M.R. Real Estate

The action

Agent Sharyn Hessin has sold units of varying sizes and prices in this boutique building one block away from the beach in Cobourg, 120 kilometres east of Toronto. But it’s always a challenge, she says, to find the right buyer for a particular unit because each unit has its own peculiarities. This two-bedroom unit had 14 visitors over several weeks, but no offers, so the asking price was reduced by $8,200.

“These condos are very attractive and sought-after because of their location right at the marina and waterfront,” Ms. Hessin said. “But every condo is unique, whether it’s the view, square footage, or configuration, so it just takes a bit of time to get that right buyer. These aren’t cookie cutter condos where they all look the same.”

This two-bedroom unit had 14 visitors over several weeks, but no offers, so the asking price was reduced by $8,200.Coldwell Banker R.M.R. Real Estate

What they got

This roughly 950-square-foot suite has a modern layout and two revamped bathrooms. The kitchen has also been upgraded with new stainless steel appliances.

The bedrooms are separated by an open living room, which has a gas fireplace and access to a southwest-facing balcony with a retractable awning.

The unit comes with a storage locker and parking. Monthly fees of $835 cover water, heating, cable and internet.

The kitchen has been upgraded with new stainless steel appliances.Coldwell Banker R.M.R. Real Estate

The agent’s take

“There are quite a lot of different condominium [buildings] in town and in this area, but this one has four storeys, so this fourth-floor unit has a really good view of the water, and is the closest to the water as well,” Ms. Hessin said.

“And it might be one of a couple that has heated, underground parking.”

“Not all the units have fireplaces, so that was a nice feature.”