The house at 3555 West 1st Avenue sold for $735,000 over the asking price of $3.5 million, setting a new record for Kits real estate. The house was built in 1912, is 3,400 square feet and sits on a standard 33 x 120 foot lot without a view. It has seven bedrooms and five bathrooms.
The selling price of $4.23 million is about $1.6 million above assessed property value. The home had been extensively renovated back in 2010.
According to Vancouver real estate expert Adam Scalena, who hosts a podcast that discusses real estate in Vancouver, offering $200,000 over the asking price of a home is normal these days in the Vancouver market. A home in West Vancouver recently sold for $1.26 million over asking price.
Last modified: January 3, 2017