Palm tree-lined Vancouver home bucks trend, sells for $2.4M under asking price
A Vancouver home featuring palm trees and other summer-perfect features has just sold for well below the asking price.
The property, located at 6650 Balaclava St., sold for $10,100,000, $2.4 million under the asking price of $12,500,000.
This home sale marks a notable feat and bucks a trend in the Vancouver luxury real estate market, which has been in a downward pattern since the beginning of the year. The sale marks only the 10th time in the last 12 months that a home has sold for above $10 million in Vancouver.
FaithWilson Christie’s International Real Estate
Referred to as a “private sanctuary,” this property, just 15 minutes from downtown, offers the new owner over 60,000 square feet of land and a home featuring 7,012 square feet of space.
The property features seven bedrooms, nine bathrooms, a full tennis court, and a separate two-bedroom coach house.
Inside the home, you’ll notice a predominantly minimalist design with subtle decorative touches that convey a sense of serenity.
FaithWilson Christie’s International Real Estate
FaithWilson Christie’s International Real Estate
FaithWilson Christie’s International Real Estate
Landscaping for the home was done by award-winning Ron Rule, who, according to the listing, “elevates the experience from the moment of arrival.”
The home is primarily situated on one level, which is why Zealty classifies it as a rancher or bungalow.
Some of the perfect summer features include a uniquely designed pool, a tennis court, and outdoor areas lined with palm trees, as well as ample seating in shady areas.
“This estate provides the backdrop to an elegant lifestyle, whether hosting a grand gathering, a quiet evening with family and friends, or simply serenity, luxury and comfort in perfect balance,” the listing says.
This aerial photo encapsulates all that the new owner has gained.
FaithWilson Christie’s International Real Estate
BC Assessment values the 40-year-old home at $8,687,000.
Prior to this listing, the home was last listed in July 2024 for $13,488,000. That listing expired this January.
This home technically qualifies as an ultra-luxury property, according to Sotheby’s International Realty Canada. In our May luxury housing report, we shared that in the first quarter of the year, not a single property sold above $10 million. Now, there have been two sales above $10 million since June.