Vancouver home sold for $2.5M under asking price after numerous listings
A Vancouver home located in the bougie neighbourhood of Shaughnessy sold for $2.5 million under its initial asking price.
1238 Balfour Avenue was initially listed for $13,800,000. It was then listed again at $11,800,000 but eventually sold for $11,300,000, according to Zealty.
It sold for well above the assessed value, which BC Assessment has recently pegged at $8,329,000.
The home is large and glamorous, the kind of mansion you’d probably expect to see in Shaughnessy.
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This fancy home was listed numerous times, dating back to May 2020, when it was listed at $14,800,000. It was re-listed for $13,880,000 later that same year before the listing was terminated.
In March 2021, it was listed at $12,880,000 before again being terminated later that year.
Before selling, the luxurious property was on the market for 80 days.
Angell, Hasman & Associates Realty
Calling the large mansion spacious would be an understatement, as it features five bedrooms, eight bathrooms, and 7,377 sq ft of space.
Angell, Hasman & Associates Realty
The listing refers to the home as a “timeless masterpiece,” and Zealty suggests the property is 112 years old. If that is indeed accurate, the home has obviously seen extensive renovations.
Angell, Hasman & Associates Realty
The home features a wok kitchen and a sweet home theatre.
Angell, Hasman & Associates Realty
Angell, Hasman & Associates Realty
It certainly looks the part of a Vancouver home that’s worth the millions it sold for despite selling so much under the asking price.
Angell, Hasman & Associates Realty
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If you had the money, would you have purchased this home for its initial asking price? Let us know in the comments.