Jannah Theme License is not validated, Go to the theme options page to validate the license, You need a single license for each domain name.
Canada

Only 1% of Vancouver single-family homes sold in the past week exceeded the asking price

Take a look at four single-family homes in Vancouver that sold at bids of 10% or more.

Article content

Only 3 out of 30 single-family homes sold in the City of Vancouver were above asking price in the past week.

advertising 2

Article content

In what may be a sign of the times, these three properties beat their asking price by 0.3%, 0.6%, and 1.5%, respectively.

Article content

In contrast, 4 of the remaining 27 units sold below their asking price.

It is based on information provided by the real estate website Zealty.ca, which tracks the original asking price and lists when and for what price the property was sold.

Residential property values ​​across British Columbia have been declining since March 2022 when the Bank of Canada launched a rate hike to stem inflation.

These rates are adopted by commercial lenders, resulting in higher monthly service costs for mortgages and allowing buyers to afford less homes. This also happens when potential buyers face increased costs of other things such as food and gasoline.

advertising 3

Article content

Here’s a look at four Vancouver single-family homes that sold for 10% or more of the asking price.

6561 Heather Street – 13.9% under $5.15 million

The brand new Oak Ridge home on a sprawling lot went public for just under $6 million ($5.98 million) and was on the market for 157 days to sell. The owner of this expensive home has to pay over $16,000 a year in property taxes alone. This her 4,700-square-foot home was valued at $4.85 million by him on July 1, 2021.

4763 West 2nd Avenue – <$20 million at 12.4%

The 11,000-square-foot home that almost no one in Vancouver can afford, sits on a 32,000-square-foot lot, has a pool and tennis court, and is beautiful in every way. On May 1, 2022, he went public for $22.8 million and had been on the market for 165 days before selling. It is valued at $14.6 million.

Advertising 4

Article content

4357 West 16th Avenue – 11.3% below $1.86 million

This old tiny home on a full size lot on a busy street in Point Gray was listed for $2.098 million and sold 32 days later. The asking price was slightly higher than the $2,044,000 valuation. The owner made hundreds of thousands of dollars as he bought the house for $1.5 million in December 2020, when the short-lived pandemic boom began.

6535 Maple Street – $3.4 million at 10.5% under

This renovated 3,700-square-foot home in Kerrisdale went public for $3,798,000 on August 24, 2022 and sold 52 days later. The house was recently valued at $3.6 million and sold at that value.

According to the Greater Vancouver Real Estate Commission’s October Monthly Market Report, home sales activity across all classes of homes across Metro Vancouver was well below its historical average.

    advertising 1

comment

Postmedia is committed to maintaining an active yet respectful forum for discussion and encourages all readers to share their opinions on our articles. It may take up to an hour to moderate your comments before they appear on the site. Please keep your comments relevant and respectful. You have enabled email notifications. You will now receive an email when you receive a reply to a comment, when a comment thread you are following is updated, or when someone is following your comment. For more information and details on how to adjust your email preferences, please see our Community Guidelines.

Only 1% of Vancouver single-family homes sold in the past week exceeded the asking price

Source link Only 1% of Vancouver single-family homes sold in the past week exceeded the asking price

Related Articles

Back to top button