West Vancouver home listed for $23.8M AFTER big price drop
A West Vancouver home has been listed for nearly $24 million, despite a significant price drop compared to its previous listing.
On July 18, the home, located in the British Properties of West Vancouver, was listed for $23,880,000. That’s also despite the assessed value being about $10 million less, currently valued at $14,001,000. The last listing for 839 Eyremount Dr., dated May 2024, had a listed asking price of $27,800,000.
The two-level home features six bedrooms and 11 bathrooms, offering ample space with 12,197 sq. ft. of living area. The property also boasts nearly 25,000 sq. ft. of total land.
Aesthetically speaking, this is one of the bougiest homes we’ve ever encountered.
“Handmade floors are Calacatta marble with wood inlay and/or metal inlay,” the listing states.
Re/Max Masters Realty
It also features some of the most luxurious amenities we’ve seen in a home listing.
Some of the amenities the listing boasts include a gourmet kitchen, a private elevator, stunning views, two large swimming pools (one indoor and one outdoor), and a heated driveway.
Re/Max Masters Realty
The home also features one of the largest and most comprehensive home theatres we’ve encountered in a listing, and surprisingly, it doesn’t feature James Bond on the TV screens in the staged pictures, unlike the majority of Vancouver real estate listings.
It features another overused celebrity. (Re/Max Masters Realty)
Re/Max Masters Realty
Designed by Paul Sangha, the home is only three years old. The property that stood before it was last sold in 2015 for $5,100,000.
Re/Max Masters Realty
If current luxury market trends are any indication, the price tag doesn’t bode well for the West Vancouver property, as ultra-luxury properties listed for over $10 million have had considerable trouble finding buyers in the Vancouver region. Since the start of the year, only four homes valued at over $10 million have sold.
As we learned from Sotheby’s International Realty Canada, Vancouver’s luxury housing market is seeing significant stagnation.
Vancouver’s luxury market is struggling more than any other major city in Canada.
“The city experienced a 51 per cent year-over-year decrease in $4 million-plus residential sales, surpassing the City of Toronto’s decline of 23 per cent. Meanwhile, sales in this price range rose 22 per cent in Montreal and 43 per cent in Calgary. At the same time, Vancouver’s 26 per cent annual decline in residential sales over $1 million outpaced the 13 per cent decrease in the City of Toronto, while Montreal and Calgary saw annual gains of 26 per cent and three per cent respectively,” Sotheby’s reports.
If you could scrounge up the dough for a home like 839 Eyremount Dr., a 20 per cent down payment on a five-year fixed mortgage would cost you well over $100,000 in monthly mortgage payments.