While Vancouver real estate isn't cheap, you might be surprised by just how expensive it can be.
Roomvu, a Vancouver-based real estate marketing and analytics firm, has compiled a list of the top ten most expensive properties in Greater Vancouver and Whistler. Combined, the top ten properties sold for a staggering $115 million in 2019. The list includes seven homes located in Vancouver proper, one in Whistler, one in West Vancouver and an acreage in Langley.
The most expensive property, a mansion on Point Grey Road on Vancouver’s West Side, sold for an impressive $15.5 million. According to Roomvu, the luxurious abode has, "a rotunda foyer, spacious sun-drenched living room with tall ceilings—and windows that stretch from ceiling to floor— a gourmet kitchen with skylight, family room with cathedral ceiling, entertainment sized recreation room with wet bar, four bedrooms and a den (the master suite has a private deck), rooftop decks, attached two car garage, and over 5,200 total square feet of living space. " A sprawling, breathtaking view of English Bay also helped the custom-built home sell for over $15 million.
With this in mind, the average selling price of the top ten was over $11 million, with the lowest price on the top ten list still selling for $9.8 million.
Declining home prices and lower volume of sales led many analysts to conclude that 2019 was a poor year for home sales. As such, Sam Merhbod, CEO of Roomvu as well as a Vancouver-based realtor, says that the top 10 list reaffirms that Vancouver is a desirable place to live no matter what macro-trends might indicate.
“Properties on the top 10 list are all located in highly sought-after neighbourhoods that offer some combination of stunning views and/or proximity to amenities,” says Merhbod. “The 3.36 acre Langley property that sold for over $10 million will be turned into 15-20 individual units, which is obviously a major draw for buyers.”
The study also lists the top 10 most expensive condos sold in Vancouver in 2019. The average price of the most expensive condos was $5.8 million, with the most expensive selling for $8.2 million.
Have a look at all of the properties here.