What Actually Sells a Condo Right Now (Hint: It’s Not What It Used to Be)

If you’re trying to sell a condo in today’s market, you’ve probably already realized something:What used to matter… doesn’t matter as much anymore.And what didn’t used to matter?
That’s now everything.Markets like Surrey and across the Fraser Valley have shifted dramatically—and the buyers have changed with them.So what does it actually take to get a condo sold today?

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The Biggest Shift: Investors Are Gone

One of the most important changes in the market is this:

• 90–95% of condo buyers today are end users

That’s a huge shift from previous years, where investors made up a significant portion of the market.And that change has completely reshaped buyer priorities.

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The #1 Feature Buyers Care About Now

Parking.Yes—parking.It used to be something you could assign a rough value to. If a similar unit sold for $650K with parking, you might just subtract $50K and price yours accordingly.That logic doesn’t work anymore.Today:

• Many buyers won’t even look at your property without parking
• Your listing may not even show up in their filtered search
• Lack of parking can eliminate you entirely from consideration

In short:No parking = dramatically reduced buyer pool.

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Tenant Occupancy: A Major Obstacle

Another big factor is whether the property is tenanted.If you’re selling a tenanted condo, expect:

• Fewer buyers willing to engage
• More hesitation due to uncertainty
• Longer timelines to close

Even if everything is done properly, buyers worry about:

• Delays in possession
• Risk of the tenant not vacating
• Added complexity in the transaction

That means:

• You’ll likely need to price more aggressively
• You’ll be competing at a disadvantage

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Size and Layout Matter More Than Ever

In today’s market, buyers are prioritizing livability.Two condo types are performing best:

1. One-Bed + Den (600–700 sq ft)

• Functional layout
• Suitable for couples or single professionals
• Typically in established buildings

2. Two-Bed, Two-Bath (800+ sq ft)

• Strongest demand overall
• Ideal for families or long-term ownership
• Must include parking

These units check the boxes for real life—not just investment spreadsheets.

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What’s Struggling Right Now

The properties having the hardest time selling?

• Junior one-bedrooms (no real bedroom walls)
• Very small units
• Investor-style layouts

These were built for:

• Rental income
• Investor demand

But today’s buyers want:

• Space
• Privacy
• Functionality

That mismatch is creating friction in the market.

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Price Still Matters—But It’s Not Everything

Price is always important. But right now, it’s just one part of the equation.Buyers are asking:

• Does this unit have parking?
• Is the layout actually livable?
• Is the building established and desirable?

They are often willing to:

• Pay more for the right product
• Skip cheaper options that don’t meet their needs

So while pricing correctly is critical, it won’t save a product that doesn’t fit today’s buyer expectations.

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How to Actually Get Your Condo Sold

If you’re struggling to sell, here’s the most practical approach:

Think Like a Buyer

Sit down and ask:

• If I had a $500K–$600K budget, what else could I buy?
• How does my property compare?
• Would I choose my own unit—or something else?

This is one of the toughest—but most important—questions.

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The “Top 2 or 3” Rule

In today’s market, only about:

• 1 in 5 condos sells each month

That means if there are 10 comparable listings:

• You need to be in the top 2 or 3 to sell

If you’re not:

• Buyers will choose something else
• And you’ll be left chasing the market down

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The Risk of Waiting

Here’s what many sellers underestimate:If a competing unit sells before yours:

• It likely sold at a lower price
• It absorbed the active buyer in your segment
• It resets expectations for your property

Now you’re:

• Adjusting price downward
• Waiting for the next buyer
• Competing in a weaker position

And in a declining market, that delay matters.

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Key Takeaways

• End users now dominate the condo market
• Parking is one of the most critical features
• Tenanted properties face major selling challenges
• Buyers prioritize livability over price per square foot
• Only the top listings in a price range are selling
• Pricing is crucial—but product matters just as much

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Final Thought

This isn’t the same condo market we’ve been in for the past decade.It’s no longer driven by:

• Speculation
• Investor demand
• Rapid appreciation

It’s now driven by:

• Real people
• Real lifestyles
• Real needs

And in markets like Surrey, that shift is redefining what it takes to get a property sold.

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Written by:
Steve Karrasch PREC
Karrasch Real Properties Team
Macdonald Realty