A new home in one of the most expensive neighbourhoods of Vancouver took a huge cut in price before selling.
Close to $2 million.
The Point Grey area home at 4568 West 8th Avenue sold for $4,023,809 on August 4.
The amount represents a $1,864,191 reduction from its listing price in 2018, the same year the home was constructed.
A July 30, 2018 listing by RoyalLePage Sussex J Soprovich pegged the price at $5,888,000.
Based on tracking by the property site fisherly.com, more listings followed.
Luxmore Realty listed the five-bedroom, six-bathroom home for $5,388,000 on October 16, 2018.
The agency made two more listings: $4,988,900 on November 26, 2018, and $4,998,900 on February 27, 2019.
Then it was the turn of RE/MAX Select Properties.
The agency listings were as follows: $4,998,900 on May 8, August 30, and January 7, 2020.
RE/MAX Select Properties tried again on February 21, 2020 with a reduced price of $4,788,000.
Then it was Century 21 Coastal Realty Ltd.’s turn.
The agency listed the home for $4,788,000 on July 21, 2020.
The price was reduced to $3,688,000.
Finally, a buyer came forward and offered above the asking price.
Century 21 Coastal Realty Ltd. sold 4568 West 8th Avenue seven days after the July 21 listing for $4,023,809.
The listing praised the “elegant home” as a “gorgeous contemporary residence” in “prestigious Point Grey”.
It is a south-facing property with “sun-filled entertaining areas”.
The home also features a rooftop patio with “stunning city views”.
The home comes with a media room, recreation room, and a wet bar and “encased wine wall”.