$17.8m 'opportunity to renovate' listed in tony Vancouver neighbourhood

Most expensive new Vancouver listing is 105-year-old mansion on huge lot

A 7,200-plus-square-foot mansion in First Shaughnessy was Metro Vancouver’s highest-priced new real estate listing of October 16 to 22, a look at MLS® data reveals – and it seems the house may need some work.

The “opportunity to own and renovate” this grand 1912 house on a huge lot in the region’s fanciest neighbourhood will set you back $17.8 million – before renovations. And with demolition of pre-1940s homes banned in the area, renovating this historic home will be the new owner’s only option.

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The listing photos and description reveals character details such as carved staircases and stained-glass windows, and there’s a “modern kitchen and deluxe laundry room” that are already renovated. The listing also describes the “potential for a pool, tennis court or private mini-golf” as the coveted land totals three-quarters of an acre.

The house was the priciest of 224 homes in Vancouver proper to be listed on the MLS® the week of October 16 to 22.

The same week, there were 34 detached home sales, 21 sales of townhouses or similar attached units, and 114 condo sales within Vancouver’s city limits.

Those sales figures are on par with the previous week, but the median sale prices were markedly lower. The median sale price of those 34 single-family sales was $1,895,000 – much lower than the $2,544,000 of the previous week. The price breaks down as $1,615,416 among the 21 Vancouver East detached home sales, and $3.08 million among the 13 Vancouver West houses to sell the same week.

Townhome and condo median sale prices also dropped from the previous week, to $1.05 million and $680,000 respectively.

The most expensive home sale of the week (registered by November 3) was an $8.58 million South-West Marine Drive house, which went for $1,408,000 under its asking price after 54 days on the market. This luxury, one-year-old custom-built house has six bedrooms, seven bathrooms and super-high-end finishings throughout.

Arguably an even sexier property is the priciest Vancouver condo to sell the same week. This 43rd-floor, 2,429-square-foot, ultra-prime condo in heart of downtown has two bedrooms plus den and office, smart-home fixtures, amazing detailing and incredible city and English Bay views. It took a surprising 124 days to sell on October 17 for $5.28 million, $108K under its $5,388,000 asking price.

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