Last sold in 2021, Vancouver home is relisted with notable drop in value

A Vancouver home on the market since 2023 has been listed with a notable drop in value compared to the last sale.

The 102-year-old home, located at 1511 Barclay Street, has been on the market since May 2023, when it was listed for $3,300,000. That listing was terminated earlier this year, in March.

As of May 2, the Vancouver home was relisted for $2,998,000, slightly above the most recent assessed value of $2,882,300. The current asking price is $187,000 less than what it was sold for in 2021, $3,185,000.

The home was sold for $2,800,000 in October 2015, slightly less than it’s now listed for.

While it doesn’t look like much on the outside, pictures from the interior show a home that does not look over a century old.

Re/Max Crest Realty

According to the Re/Max Crest Realty listing, the renovated home is “rarely available.” Some of the recent renovations include a brand-new roof and an updated kitchen.

Re/Max Crest Realty

Featuring four bedrooms, three bathrooms, and 2,542 sq ft of space, the West End home is described as a “rare opportunity” to acquire prime downtown real estate.

Re/Max Crest Realty

Potential buyers are enticed with the “freedom to either redevelop the property as a multi-family building” or hold for “massive potential future appreciation.”

The listing also features some renderings about what a redeveloped property could look like.

Re/Max Crest Realty

For those who want to live downtown, the location can’t be beat. The home is centrally located between Second Beach, the Vancouver Seawall, English Bay, and the city centre. It’s around a 20-minute walk to Pacific Centre Mall.

The listing was recently removed from some real estate platforms, so a sale could be pending.

Do you think this home is worth more than the current sale price?