Listed for 194 days, Vancouver home sells for $1.1M over assessed value

Re/Max Crest Realty

A Vancouver home near Shaughnessy on West 41st near Granville Street has sold for $7,000,000, over a million above its assessed value ($5,884,000).

According to Zealty, the home was listed for over 190 days and sold on March 1 under the asking price of $7,580,000.

Listed by Re/Max Crest Realty, the home was built back in 2008 and has been kept in immaculate condition.

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BC Assessment’s most recent report about the home says the land is worth $4,151,000, while the buildings are worth $1,733,000.

The assessment history of the home suggests that land value in the area hasn’t increased as much as in other parts of Vancouver. In 2015, the land was valued at $3,215,000, increasing by $936,000 in nine years. Compare that to this property that saw land value increase by $1.2 million in the same time frame.

Still, a jump of $936,000 is noteworthy, as you could purchase a Vancouver condo for that price.

Re/Max Crest Realty

The home has six bedrooms and six bathrooms, and the listing calls the home a gorgeous masterpiece.

Re/Max Crest Realty

This grand piano isn’t included.

Re/Max Crest Realty

The home features two jet baths, radiant heated floors, an exercise room, and air conditioning.

Re/Max Crest Realty

There’s also a home theatre and games room.

Re/Max Crest Realty

While the home is lovely, there aren’t any features that strike us as necessitating selling so much over the house’s assessed value compared to other Vancouver properties.

Can you see the appeal of this Vancouver home? Would you have paid above the assessed value for it?