Huge Vancouver home listed 14 times sells well below expectations
A massive and luxurious West Vancouver home sold well below expectations after a whopping 14 listings since 2018.
Despite the 14 attempts to earn more, the home sold for $9,300,000, just below the assessed value of $9,385,000. The land is assessed at $4.7 million, while the buildings are assessed at $4.6 million.
Several different real estate agencies have tried to sell the property since 2018, when the home was built. The initial asking price was $16,580,000, $7.2 million more than the eventual sale price. We actually covered this property seven years ago when it was first listed.
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Royal LePage Sussex
West Vancouver is home to some of the glitziest properties in the Lower Mainland, and 4580 Marine Dr. is no exception. The house is a whopping 6,916 sq. ft. home on a massive lot of 14,381 sq. ft. The home contains five bedrooms and seven bathrooms.
Royal LePage Sussex
The listing from Royal LePage Sussex calls the property a “masterpiece of modern luxury.”
Royal LePage Sussex
The home is custom-built and contains ocean views from all levels. It also features glamorous touches, including the glorious infinity pool with a built-in hot tub.
Royal LePage Sussex
The listing says the home has marble flooring and a state-of-the-art media room. There’s also a gourmet kitchen and a dry sauna.
Pictures showcase a stunning interior that could easily be the set for a party scene in a James Bond film.
Shaken, not stirred. (Royal LePage Sussex)
Royal LePage Sussex wasn’t lying about the views. They’re truly breathtaking. But are they worth $9.3 million?
Royal LePage Sussex
Despite all the glamorous selling points, this mansion is another example of a trend we saw in the Vancouver real estate market last year, with luxury properties seeing decreased demand, at least at the prices they’ve typically been listed for. In January, a report suggested that Vancouver’s luxury market lagged behind other major Canadian cities.
The silver lining of that report was the fact that inventory had accumulated. With more supply, prices tend to go down.
Royal LePage Sussex
If you had $9 million lying around, would this property be worth it?