A Vancouver home in the Point Grey neighbourhood recently sold for slightly more than it had in its previous 2021 sale.
It’s another case of homeowners not being able to recoup the investment on their home, and in this case, that reality existed despite numerous attempts at selling for higher.
After the 2021 sale, six listings went up, with the asking price progressively getting lower before the final sale price of $7,500,000, slightly less than the asking price of $7,698,000, according to Zealty.
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In January 2021, the three-bedroom, three-bathroom home with gorgeous views sold for $7,250,000 but was listed for $7,798,000. It was relisted the same year, in September 2021, for over $2 million more ($9,750,000).
That listing was terminated, and the home wasn’t listed again until 2024. In January 2024, it was listed for $10,998,000 but terminated just two weeks later. On Valentine’s Day of this year, it was listed again for $8,998,000, but it was terminated in April.
Another attempt to list the home at the same price was made in April, but that listing was terminated in June. The Point Grey home then saw a steep price drop, listing for $7,895,000 in June. That listing was terminated in September before the final listing.
WESTSIDE Tom Gradecak Realty
The final price of $7,500,000 is well below the most recent assessed value of $8,862,000.
Despite being 34 years old, the home looks pristine inside and out. Considering the price, it is also reasonably small, with 1,916 sq ft of space. However, it’s located in the “Golden Mile.”
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From every level, there are views of the ocean, mountains, and downtown. Thanks to the large windows, the views from the living room are particularly stunning.
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The listing says the new owner can just move in or build a new dream home that could boast 2,368 sq ft of space.
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The approximate monthly mortgage on a home sold at this price, based on a five-year fixed-rate mortgage with a 20% down payment, is around $33,000 per month, according to Zealty’s mortgage calculator.
Are the stellar views at this Vancouver home worth the sale price?