Quest

Posted by Ambergate Realty Advisors on Tuesday, June 16th, 2015 at 11:10am.

General Comments

Construction of the Quest building was completed in 2009. The builder was Regency Developments. This distinctive 22 floor concrete building is close to many of the sought after amenities in the downtown core including MacEwan University, the new arena and many restaurants. You can catch a bus right outside the front door. Regency Developments was aiming for a luxury experience when they created the Quest. Most units have hardwood floors, granite counter tops and stainless appliances. Many units have balcony views across the city skyline. All balconies come equipped with gas lines for barbecues. Condo owners in the Quest receive one titled heated underground parking stall as part of their purchase. Guests can park underground or at the back of the building. Facilities are somewhat lacking in this building, (although these things can be found nearby). There is an amenity room perhaps suitable for large family gatherings or parties. There is no gym or pool. At the time of writing this blog, the property manager is Braden Equities Inc. There is an onsite manager.

Market Overview

At the time of writing, (May 27th 2015) there are 8 units for sale, for an average value of $483,250. The most expensive unit is priced at $1,085,000 and the least expensive is $338,500.

Over the last 12 months the absorption rate, (units sold against total offered) was 71%. This is quite a bit higher than the market average for the downtown core which is currently at about 60%.

Over the last 12 months, 10 units have sold for an average time on market of 50 days. The average value was $581,580. The least expensive unit sold made $345,000 and took only 10 days to sell. The most expensive unit which was an exclusive penthouse suite, sold for $1,085,000 and took 132 days to sell.

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