A Vancouver home reported sold within the last week failed to earn more than it did just two years ago.
It’s yet another example of homeowners losing money on Vancouver properties that may have been potential investments.
The listing, 2795 W 37th Avenue, was reported sold on November 18 for $5,700,000, which was $50,000 under the asking price. The most recent assessed value for the home is $5,363,000; in 2022, it sold for $5,825,000 when it was listed for $6,000,000.
Rennie & Associates Realty
According to Zealty, the five-bedroom home, built in 2019 in MacKenzie Heights, features 4,059 sq ft of space on a 6,250 sq ft lot. It also has five bathrooms and a three-car garage.
Rennie & Associates Realty
The Rennie & Associates Realty listing states, “Feel pampered and relaxed in your primary bedroom. Enjoy the privacy of your own balcony and spa-inspired bath.”
Rennie & Associates Realty
The listing adds that the future owner can expect “custom millwork, crown mouldings and high-quality craftsmanship throughout this gorgeous home.”
Rennie & Associates Realty
The home features a modern design consisting primarily of shades of gray and white, which helps make the splashes of colour stand out even more.
Rennie & Associates Realty
The colour of the hardwood floors also contrasts with the design of the home in an aesthetically pleasing way.
Rennie & Associates Realty
Other features include a media room with a wine bar “to entertain your guests.” There’s also a legal suite, which the listing says is “perfect for revenue or guests and family.”
Rennie & Associates Realty
There’s also a private backyard, which the listing says enhances the home’s value. The most recent assessed value of the home is the highest it has been in the last nine years. When it sold in 2022, it sold for well over the assessed value, which at that time was $4,971,000.
As mentioned previously, Daily Hive Urbanized has seen many homes that may have been potential investments lose money over the past several months. Many of those homes have been in luxurious neighbourhoods like Shaughnessy.
Have you recently sold a home, or are you currently trying to navigate the Vancouver real estate market? Email [email protected] if you’d like to share your story.