Listed for $12.5 million, Vancouver waterfront home sells for $10 million after 52 days on market

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      With its splendid views of the ocean, mountains, and the city, the property was meant for a select few.

      It was, according to the listing for 3151 Point Grey Road, only for the “truly discerning”.

      “A masterfully built home, with a globally distinguished address and uncompromising waterfront, city and mountain views,” declares the listing for the detached home in the Kitsilano neighbourhood of Vancouver.

      On May 1, 2020, the property was placed on the market by Sutton Group-West Coast Realty.

      “Take in your world-famous views from your dining room, living room, kitchen, office, master bedroom and bathroom, or from your stately personal waterfront patio,” the listing promotes.

      Its original price was $12,498,000.

      On May 25, the price was reduced to $11,998,000.

      Finally, after 52 days, as the world continued to reel under the COVID-19 pandemic, the house sold for $10 million on June 22.

      Built in 1988, the three-level, 2986-square-foot home has three bedrooms, a home office, three underground parking spaces, several storage areas, and “seamless indoor/outdoor living” on all floors.

      The 2019 property tax for the waterfront home was $59,531.

      The sale was tracked by fisherly.com, a website that features up-to-date information on residential property transactions.

      Inside the waterfront home at 3151 Point Grey Road.

      On July 3, the Real Estate Board of Greater Vancouver (REBGV) released its market report indicating that 2,443 homes were sold in June in Vancouver and neighbouring cities.

      The number represents a 64.5 percent increase from the 1,485 homes sold in May 2020.

      June 2020 sales in cities covered by the REBGV were also 17.6 percent higher than the 2,077 sales recorded in June 2019.

      Including 3151 Point Grey Road, a total of 78 detached homes were sold in the West Side of Vancouver in June this year.

      It’s 52.9 percent increase from the 51 sales of detached homes in the same side of the city in May 2020.

      The benchmark price of a detached home in the West Side of Vancouver in June was $3,076,700, a 1.2 percent increase from May of this year.

      In East Vancouver, a total of 105 detached homes were sold in June 2020.

      That’s 64.1 percent increase from the 64 detached homes sold in the same side of Vancouver in May 2020.

      The benchmark price of a detached home in East Vancouver in June was $1,459,000, representing a 0.8 percent from May of this year.

      Sales of condos and attached homes in the whole city of Vancouver also increased in June 2020 compred to May.

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