5853 Dumfries Street in East Vancouver sold for $ 930,000 in April 2019.
A few months ago, the Postmedia News reported that an isolated single-family home had been registered in Vancouver for less than a million dollars.
This was just a list, not a sale, and at that moment it was new. Not so much now. As demand shrinks and supply grows, the emergence of homes in Vancouver now selling for less than a million is becoming more commonplace.
According to real estate blogger Steve Saretsky, sales of Vancouver homes in the early part of 2019 were at their lowest levels in 30 years (a bit of attention given the city's population growth).
"As a result, we are seeing stock grow and prices moving down in all segments," Saretsky wrote. He also pointed out that the recent large declines in expensive home prices began to fall to the lower end of the separate market.
"We are seeing more homes in East Vancouver selling below the million dollar mark and the vast majority of homes are selling below the taxed amount."
With the help of Twitter mortimer_1, here are five independent Vancouver homes that were recently sold for less than $ 1 million.
5853 Dumfries Street – US $ 930,000
This 1,630 sq. Ft. Home in East Vancouver off Knight and 41 sits on a 33 by 123 ft lot. It was built in 1953, has two bedrooms and was rated on July 1, 2018 at $ 1,358 million. The previous year was valued at $ 1.43 million. The house was listed for $ 1,099,000 and sold last month for $ 930,000. It was owned by a Keremeos man who paid $ 750,000 in April 2014. Since you consider property transfer taxes, real estate brokerage fees, property tax and insurance in five years, it was not a big investment .
4949 Culloden Street – US $ 920,000
Purchased in 2017 for $ 469,440, this East Vancouver home sits on a 33 by 94 foot lot and was evaluated on July 1, 2018 at $ 1,222 million. It is a small house at 780 square feet, but not in a bad area, south of 33 near Kensington Park and the interior was in good condition. The asking price was $ 998,888 and was sold in less than a month. The property was owned by Aaron Richard Jasper and Arminder Kaur Randhawa.
2596 East 54th Avenue – $ 950,000
In a 47-by-96-foot lot, this property in southeastern Vancouver was valued at $ 1.32 million on July 1, 2018 and at $ 1,422 million a year earlier. Built in 1920, this 720 square foot home was owned by the same woman for many years and was listed last month at $ 996,000. It sold for $ 950,000.
3186 East 28th Avenue – $ 980,000
This antique timer was built in 1918 on a plot of 33 by 105 feet. It was valued at $ 1.2 million on July 1, 2018. Purchased by a Langley woman for $ 130,000 in 1998, the 1,742-square-foot house was listed at $ 999,000 in winter and recently sold for $ 980,000 .
1113 McLean Drive – US $ 880,000
A small batch at 25 by 88 feet, this 109-year-old house was valued at $ 1.1 million on July 1, 2018, down from $ 1,115 million a year earlier. It is in a great area, close to the city center, across from Britannia Secondary, and was listed at $ 888,000. The 1,470 square foot home sold for very close to asking $ 880,000. It was sold by a Richmond woman who paid $ 331,000 for the place in March 2015.