It may be surprising (or not) that homes are still being sold over asking in Vancouver.
With recent studies on debt that homeowners may have, it appears that some are still willing to go above and beyond to get ownership opportunities. A sale of an East Vancouver home is a recent example.
The home at 2018 Charles Street in the neighbourhood of Grandview-Woodland, has just sold for half a million dollars over the asking price.
At first the detached East Vancouver home was listed for $1,699,000. However, it sold just one week later for a whopping $2,250,000. That is an increase of $551,000 or 32.4 percent over the asking price.
The home itself is a 2-story home with basement sitting on a 24 X 122 ft lot. So it’s smaller than the standard Vancouver lot.
Here Are Some Numbers:
- Address: 2018 Charles St, Vancouver, BC
- Year Built: 1911
- Sale Price: $2,250,000
- Interior: 2,157 sq-ft
- Bedrooms: 2
- Bathrooms: 1.5
Let’s Take A Closer Look At This East Vancouver Home:
Although it seems like a lot to pay for a small home, the home price to income ratio in Vancouver has tripled since 1996. That means that, in Vancouver, real estate has been a good investment, better than stocks some economists may say.
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