Vancouver home sold for $6M in 2019 sees notable drop in value in new listing
A Vancouver home that has been on the market since 2023 for various amounts has seen its value drop by almost $1 million compared to its last sale.
3838 West 50th Ave. in the Vancouver West Southlands neighbourhood was listed in late January for $5,135,560, just a bit above the assessed value of $4,895,000.
In 2019, the home was sold for $6,018,925. Based on the subsequent listings, it doesn’t appear that the property will fetch nearly that much in the Vancouver real estate market.
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Multiple Realty Ltd.
According to Zealty, the first time the home was listed after the 2019 sale was in 2023. In February 2023, the property was listed for $5,698,000. That listing expired in July 2023.
It was listed again for $5,380,000 in October 2023, but that listing expired in March 2024. That March, it was listed once again for $5,498,000. The price eventually dropped to $4,990,000, but the realtor couldn’t find a buyer at the reduced rate.
Since the home was built in 2019, the highest it has been assessed at is $5,190,000 in 2022.
Multiple Realty Ltd.
In September 2024, it was listed for $5,135,560, which expired in January 2025 before being listed again at the same price. That listing is still active.
Multiple Realty Ltd.
The home itself is nearly brand new, having been built in 2019. It features a sizeable 4,098 sq. ft. of living space on a huge 9,900 sq. ft. lot. It has five bedrooms and six bathrooms spread across a two-storey building. The listing calls it a custom-built smart home.
Multiple Realty Ltd.
Pictures showcase an elegant home with a kitchen that cooking enthusiasts would die for.
Multiple Realty Ltd.
The listing says, “Discover the luxury living at McCleery and Magee Estates,” adding that the home was built using the finest materials and finishes, along with top-of-the-line appliances and lighting fixtures.
Multiple Realty Ltd.
Regarding the location, the listing says the home is surrounded by Point Grey Golf Club, Southlands Riding Club and the Fraser River.
Multiple Realty Ltd.
According to BC Assessment, the land value is worth more than the building of this Vancouver home. The land is currently valued at $2,956,000, while the building is valued at $1,939,000.