"This is depressing": 92-year-old Vancouver home last sold for $55,000 sells for nearly $3M

The sale of a 92-year-old Vancouver home will leave you wishing it was the 1970s, considering how much it sold for then versus now.

3415 West 13th Avenue, which has an assessed value of $2,493,300, sold for $2,852,000 on Wednesday, according to Zealty.

According to real estate listing databases and Mortimer, a prominent social media real estate reporter, it last sold for $55,000 back in 1978. In 46 years, the home price increased by $2.7 million.

The sale has also sparked much discussion about why a home like this sold for so much, significantly above the assessed value.

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3415 West 13th Avenue | Re/Max

The land value of 3415 West 13th Avenue is $2,474,000, meaning the building is only worth around $20,000.

3415 West 13th Avenue | Re/Max

This home was built in 1932, with three bedrooms and three bathrooms.

Despite the home being 92 years old, it’s clear that a lot of love has gone into keeping it looking and feeling fresh.

3415 West 13th Avenue | Re/Max

“The renovated kitchen overlooks the delightful garden and decks for your summer enjoyment,” the listing states.

The home features 2,555 sq ft of space, with a private yard.

3415 West 13th Avenue | Re/Max

Typically, we see homes of this age and price selling for redevelopment purposes. Still, based on the reaction we’re seeing online, someone really wanted to live in this Kitsilano home and paid the above sticker price for it.

3415 West 13th Avenue | Re/Max

Many folks on X were shocked that someone would pay so much for this home.

Jeez this is depressing. It was a miserable house. A tear down really.

— Tom (@tholder) January 25, 2024

Saw this… wowzers

— Steve Saretsky (@SteveSaretsky) January 25, 2024

Another X user suggested the sale was “absolutely bonkers.”

Although some weren’t as surprised.

Vintage beauty

— Ray Gaur (@raygaurca) January 25, 2024

It will be worth triple if they ever build that skytrain station two blocks away. Not a bad spec play on a tax free PR.

— Canada Bound (@twototangotwo) January 25, 2024

What do you think of this 92-year-old Vancouver home?