Swanky Vancouver home sells for millions under initial asking price

A Vancouver home near Kerrisdale (which looks more like it belongs in Palm Springs) recently sold well under the current and previous list price.

Located at 2545 SW Marine Drive, the swanky home sold under the most recent assessed value of the property.

According to Zeatly, it recently sold for $7,500,000 despite asking for $8,999,000, which pales in comparison to the initial asking price last year.

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This five-bedroom and seven-bathroom home was built in 2008. Before the current property was built, it was last sold in 2004 for $798,000.

The new property was first listed in June 2023, with an asking price of $13,998,000. A couple of months later, in August, that listing was terminated. It was relisted that August at a discount of over $2 million for $11,500,000. That listing was cancelled in December 2023.

This May, the property was taken over by a new realtor and listed again for $8,999,000 before it closed for $7,500,000. The home’s assessed value is currently $8,487,000, with the buildings ($5,168,000) actually valued higher than the land ($3,319,000), which is rare. This is the highest the home has been assessed over the last nine years.

The listing calls the home a “Palm Springs-style oasis in a secluded retreat.”

It even features some poolside palm trees.

Engel & Volkers Vancouver

The home features many swanky features you wouldn’t necessarily expect to find in this neighbourhood, like a “dreamy inner courtyard” equipped with its own pizza oven and firepit.

It even includes what the listing calls a fitness centre, and it’s no joke.

Engel & Volkers Vancouver

One of the bedrooms features an entryway that leads right out to the swimming pool.

Engel & Volkers Vancouver

You could also go from working from home to having a dip in the pool.

Hey, Andy! (Engel & Volkers Vancouver)

Imagine being invited to a party here.

Engel & Volkers Vancouver

Marine Drive Golf Course is just a short walk away if the new owners are golfers.