Vancouver real estate: Shaughnessy mansion sold for $80,000 less than $5.8-million purchase price in 2014

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      On September 16, the Straight reported about a forecast by the Real Estate Board of Greater Vancouver.

      In its analysis, the REBGV anticipates an “upward pressure on prices’’ this fall season “as above-average sales volumes meet low inventory levels”.

      For the story, this publication used a photo of a seven-bedroom Vancouver mansion at 1453 Laurier Avenue, which sold for $5.8 million.

      The choice of the photo of the Shaughnessy estate got the attention of a person who identifies on social media as Julia Longpre, and who is someone “obsessed with Van RE”.

      In a Twitter post, the individual called out the Straight and pointed that it missed something about 1453 Laurier Avenue.

      It’s that the property sold for a loss of $80,000 seven years after it was purchased.

      The individual is correct.

      Tracking by real-estate site Zealty.ca shows that 1453 Laurier Avenue sold on September 11 for $5.8 million.

      Zealty’s summary notes that the sold price is 15.7 percent lower than the asking price of $6,880,000.

      Also, the sold price is 9.7 percent lower than the Shaughnessy property’s 2021 assessed value of $6,423,000.

      Zealty also tracked the sales history of the Vancouver home on the listing service used by realtors.

      The four-level residence was listed for $6,880,000 on January 12, 2021, which means that the sale happened after 241 days.

      Moreover, the same property was listed a number of times between August 2015 to October 2017, with asking prices of $7,398,000 and $7.5 million.

      Zealty tracking also indicates that the Shaughnessy mansion was listed on April 16, 2014 for $7,188,000.

      The residence sold on May 30, 2014 for $5,880,000.

      This means that the September 11, 2021 sold price of $5.8 million was $80,000 less than what the property was purchased for more than seven years ago.

      Zealty tracking covers transactions made through the listings service. The information does not include private sales. 

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