Fetching above asking, North Vancouver home sale is a case of demand

A 46-year-old North Vancouver home sold above its asking price, with the sale highlighting the demand for living on the North Shore.

The three-bedroom and three-bathroom home sold for $1,900,000 over the asking price of $1,759,000.

BC Assessment says the most recent assessed value of the home is $1,881,000.

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Re/Max Crest Realty

3300 Chaucer Avenue is located in the lovely Lynn Valley, in what the listing calls the “sought-after Poet’s Corner.”

Re/Max Crest Realty

“Poet’s Corner is an exclusive neighbourhood in Lynn Valley named for its streets of famous poets – Shakespeare, Tennyson, William, Chaucer, Dryden, and Milton,” says a North Shore real estate website.

Re/Max Crest Realty

We spoke to Jeff Appelbe PREC about the North Vancouver home sale and why it earned so much more than the asking price. He had some theories about the home he calls “architecturally interesting.”

“It’s a couple hundred metres away from the Valley Centre; you kind of feel like you’re in the mountains on the West Coast.”

He added that there is a strong demand for living in North Vancouver, combined with a lack of housing availability.

Re/Max Crest Realty

“North Vancouver is a little unique because I think there’s a bigger deficit of property,” Appelbe said.

He added that many consider North Vancouver a desirable and safe place to live.

“People just want to be there.”

Built in 1978, the North Vancouver home was listed by Re/Max Crest Realty as the “perfect opportunity to own a detached property on a quiet crescent.”

Re/Max Crest Realty

It also called the home the “whole package,” including a yard well-suited for a family thanks to its proximity to schools and parks.

Re/Max Crest Realty

The assessment history of the property shows that since 2020, there’s been nearly a $500,000 spike in value.

In 2020, the home was valued at $1,359,000.

Would you have paid this much for this unique home? Let us know in the comments.