East Vancouver house sells for 35% over asking price!
Even with the ever-rising real estate prices in Vancouver, this East Van sale comes as quite a surprise.
The house at 65 East 26th Avenue is two blocks west of Main Street and has the look of a three-bedroom heritage home. It was built a year ago with a one-bedroom basement suite and is on a 31.25 by 107 foot lot.
Originally listed for sale at $1.6 million, the house was sold for a whopping $567,260 over asking price. That is almost $1,000 per square foot, setting a new record for East Vancouver. “It’s a little crazy but I call it the new reality,” realtor Paul Eviston said. “That area is smoking hot. It’s an area of high demand and low supply.”
The new owners of the house are a local couple in their 40s.
Homebuyers are flocking to East Vancouver for its charm and livability, reported The Globe and Mail. The shift from the city’s west to east is having a positive effect on property values, but perhaps not on the area’s affordability.