As real estate prices continue to climb in Vancouver, it’s hardly surprising that another home sold for $1 million over its asking price within a month.
The most recent, a post-war house that was built in 1945, was listed for $3.2 million and sold for a cool $4.2 million. The 3,100 square foot home has hardwood floors, two fireplaces, four bedrooms, three bathrooms, and a water and mountain view.
The home on West 19th Avenue near Dunbar Street sits on a 5,360 square foot, 44′ x 120′ lot and includes a wine cellar and unauthorized suite.
Early in March, a home in Point Grey described as a “teardown” sold for $1 million over its asking price. Another home in Kitsilano sold for $735,000 over its asking price in February as well.
Demand far outstrips supply in Vancouver, according to a new report from Royal LePage, causing escalating home prices and constant bidding wars. The average price of a detached bungalow in Metro Vancouver has reached $1.1 million.