This Vancouver home was recently listed for the 13th time in six years
A deeper look inside a recent Vancouver home listing reveals quite a spectacular history in the local real estate market.
3531 West 37th Avenue, located in the Vancouver West region of Dunbar, was listed on July 30 for $3,950,000.
The fascinating part of this listing is that since 2018, the home has been listed by four different real estate agencies a whopping 13 times… without a single buyer.
This property has generated some conversation online.
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Re/Max Westcoast
According to Zealty, the home was last sold in 2015. It was listed in 2015 for $3,698,000 but sold way over asking price for $4,350,000. That sale price was well above the assessed value in 2015 ($2,357,800).
Now, the home is assessed at $3,786,300, just slightly under the most recent price tag ($3,950,000).
This five-bedroom and two-bathroom detached house is 100 years old, and the most recent listing says it has been “well cared for.”
For a 100-year-old home, it certainly looks to be in great shape.
Re/Max Westcoast
After it was sold in 2015, it was first relisted for sale in January 2018 for $4,880,000. That listing expired, and the home was relisted in August 2020 for $3,988,000. That listing was terminated in February 2021.
The same month, the home was listed again for $3,750,000. Curiously, the listing was terminated in April 2021 at a much higher asking price of $4,360,000. In April 2021, the home was listed again for $3,580,000, being terminated in July 2021.
Re/Max Westcoast
It was listed several more times over the next couple of years via Re/Max Crest Realty before the owner decided to switch to Luxmore Realty. It appears as though Luxmore failed to help the owner find a buyer, so they switched to Re/Max Westcoast, the current agency attached to the most recent listing.
Zealty
Some folks are surprised by this home’s history, to say the least.
Paid $2 million over assessed, “trying” to sell for 7 yrs, 13 times…
Fuck all the way off with this shit. #Ponzi #VanRE pic.twitter.com/epTTZbfPBS— Julia Longpre (@juliamarblefaun) July 31, 2024
Despite the old home’s relatively good condition, BC Assessment says the land makes up most of its value. The land value of this property is $3,693,000, while the building is valued at $93,300.
The Vancouver home listing says the property is an incredible investment with development potential. If you had the money, would you tear this home down and redevelop it or keep it as it is?