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.