'Once-in-a-generation' Vancouver home sees massive price drop

A luxurious Vancouver home, once listed for nearly $35 million, has seen several price fluctuations, with the current asking price now below half that amount.

In 2017, 1126 Wolfe Ave. was listed for $34,800,000. The following year, the listing was terminated without snagging a buyer. That same year, the home was assessed at just over $13 million.

After various listings and listing agents, the home is currently listed for $16,997,000.

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The latest listing is by Dracco Pacific, but the home has previously been listed by Re/Max, BakerWest, and Angell, Hasman & Associates (Malcolm Hasman) Realty. In 2022, we featured this home as part of a story on the most expensive home listings in Vancouver. Now, it’s listed for less than all the homes on that list.

Originally built in 2017, the expertly crafted home features six bathrooms and nine bedrooms.

“A striking white brick façade, gated entry, and meticulously sculpted gardens introduce a residence where timeless design harmonizes with contemporary luxury,” the listing reads.

The home features many luxurious spaces, like the private wine cellar and lounge pictured above.

One of the other rooms also features a full-sized bar:

The listing states that the home has been put together and “crafted for those who value exceptional beauty, unparalleled privacy, and refined presence.”

The standout feature of the home is probably the ‘outdoor oasis’, which features an infinity pool.

Other features include a home theatre, billiards lounge and heated kitchen.

After the original listing from 2017, when the home was listed for $34,800,000, expired, the house wasn’t listed again till 2021, this time for $28,880,000. That price stayed constant through several listings that failed to attract a buyer till November 2024, when the price was reduced to $17,000,000.

That listing would only stay up for two days before it was terminated. Days later, it was listed again for $22,880,000, before that listing expired in February 2025. The price dropped again in another February 2025 listing, when it was listed for $17.5 million. The price was reduced to $16.5 million before being terminated last month. That leads us to the current listing and price of $16,997,000.

The current list price places it below the most recent assessed value of the Vancouver home, $18,273,000.

The listing adds, “This is a once-in-a-generation opportunity to own a true legacy property at a best value!”