$2-million real estate price point reaches East Vancouver's Fraser Street

What’s the general rule of thumb for real estate in Vancouver? Properties in the Vancouver Westside are the most expensive – and prices gradually decline the further you travel east, especially after Main Street.

But there is now an outlier. According to the CBC, a home at 846 East 27th Avenue near Fraser Street and King Edward Avenue recently broke the $2-million mark after it was sold for the full asking price of $2.15-million.

Contradicting the most common perceptions of the local definition of “trading up,” the buyers are moving from the Vancouver Westside to East Vancouver.

REMAX real estate agent Paul Eviston’s listing indicates the two-storey property was constructed in 2011 on a 5,222 square foot lot, 33 feet wide and 158 feet deep, and includes a laneway residence. The main residence and the laneway residence have a combined living area of 4,150 square feet, including six bedrooms and six bathrooms.

Feature Image: Paul Eviston / REMAX