Despite efforts to list the home at a higher asking price, a luxury property in Vancouver sold for nearly the same amount it sold for seven years ago.
According to Zealty, 5337 Larch Street was reported sold on May 24 for a final price of $5,200,000.
The asking price was $5,580,000, and the home’s most recent assessed value is $5,100,000. The land value is $3,423,000.
In 2017, the home sold for $5,080,000, above the asking price of $4,990,000. This January, it was listed for $5,890,000 before that listing was terminated in April.
Sutton Group-West Coast Realty
Comparing the two most recent sales, this home didn’t pan out to be the greatest investment, as the 2024 sale only earned $120,000 more than the 2017 sale.
Sutton Group-West Coast Realty
Listed by Sutton Group-West Coast Realty, the 12-year-old home is a massive 4,722 sq ft and has six bedrooms and seven bathrooms.
Sutton Group-West Coast Realty
Fancy furniture helps the luxury Vancouver home feel as glamorous as the final sold price.
Sutton Group-West Coast Realty
What’s a luxury Vancouver home without a fancy media room?
Sutton Group-West Coast Realty
Since 2015, the home’s peak assessed value was in 2017, when BC Assessment pegged it at $5,898,000.
Sutton Group-West Coast Realty
Sutton Group-West Coast Realty’s listing states that the property is located on a corner lot in the “prestigious Kerrisdale neighbourhood.”
The home is also professionally landscaped and includes fenced trees, flourishing flowers and fruit trees.
Sutton Group-West Coast Realty
The home is within walking distance of Point Grey Secondary School and many parks and recreational centres. It’s also a short walk to the Vancouver Pickleball Association, one of North America’s fastest-growing sports.
REW states, “The current median list price for similar homes for sale in the vicinity is $5,889,000.”
Are you surprised this home didn’t sell for more? Let us know in the comments.