A fairly typical and average-looking home in Surrey was recently sold for well above the average price.
Built in 1979, 6040 172A Street, which resides in the Cloverdale suburb of Surrey, sold for $1,800,000 last month. That’s nearly $1 million more than the list price, which was $899,000 as of October 2019.
Last December, the property was listed at $1,499,000. In less than three years, the price jumped from $899,000 to $1,800,000. According to Zealty, the property was sold on January 23.
Real Estate Works (REW) shows that the most recent assessed value as of 2021 was $1,294,400, still over half a million less than the final sale price.
The fairly spacious two-storey, 43-year-old home boasts 2,040 sq ft and has four bedrooms and three bathrooms.
While the house is quite old, it does feature several upgrades and restorations.
A listing accessible through Mike & Bernadine Nielsen says that the house features a huge 8,660 sq ft lot, with a private backyard surrounded by mature cedars.
The kitchen features stainless steel appliances and a gas range. The cupboards and floors also look like they’re in pretty good condition. A patio leads out into a massive backyard.
Some of the bedrooms are an interesting change of pace, adding bright flashes of colour to an otherwise woody aesthetic.
This Surrey home also has two fireplaces, one natural gas and one wood-burning.
REW suggests that the median list price for a similar home is $1.5 million.
Despite being off the market now, the numbers highlight just how challenging and expensive it can be to get into a market with high demand and low supply.
In Surrey and the Fraser Valley specifically, new listings have surged to kick off 2022.
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