Palatial Vancouver home in coveted location just sold for $3 million under asking price
A Vancouver home with some luxurious amenities was sold after just a month on the market, but it took a massive price drop to get the deal done.
The 8,538-square-foot home, located at 6699 Churchill St., has six bedrooms and eight bathrooms and sits on a nearly 13,000-square-foot lot in Kerrisdale.
BC Assessment’s most recent valuation of the home suggests it is worth $8,862,000, with the land value totalling $4,860,000. However, it was reported that the seller set the original asking price at $12,800,000.
Royal Pacific Realty
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According to Zealty’s listing history for the property, 6699 Churchill St. ultimately sold for closer to its assessed value, at $9,380,000, on Friday, Sept. 19.
That is an over 25 per cent reduction from the original asking price for the property described as being in a “prime location.”
However, the MLS pricing history shows that the last sale of the property was in 2010, then it sold for $3.438,000, so there’s been a huge jump in price over the past 15 years.
The listing by Royal Pacific Realty describes the custom-built residence as “meticulously maintained,” with a grand marble foyer and a chandelier to welcome guests.
Royal Pacific Realty
There are formal living and dining areas, a gourmet kitchen with a separate wok kitchen, and a wood-panelled office in the home built in 2018.
When the new owner is ready to relax, they can unwind in the home theatre, sauna, or on the large patio overlooking the professionally landscaped gardens.
The Kerrisdale property isn’t the only lavish home in the region to sell under asking price recently. A White Rock home sold earlier this month for $11.4 million in a rare feat for the region, and a West Vancouver mansion was sold this summer for over $13 million, which was not as much as the owner initially sought.
A Vancouver home featuring palm trees and other summer-perfect features also sold in July for over $10 million, which was well below the asking price.