The Lower Mainland’s top five priciest home sales of the year

Dated: December 19 2018

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The Lower Mainland’s top five priciest home sales of the year

Curious about the fanciest homes that sold on the region’s MLS in 2018 – and for how much less than asking? Here’s our rundown

In a year that has been very tough for the detached home market, it’s fascinating to look at which multimillion-dollar homes have actually sold – and for how much lower than their original list price.

Below, our rundown of the highest-priced home sales in the Lower Mainland this year, including Whistler through to the Fraser Valley, features just one city that totally dominates the top five. It also reveals that some astronomical original asking prices had to be slashed in order to make a deal.

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For more photos and information on the top two priciest home sales, click through the links to the original listing articles.

Note: sales and listing information accurate as of December 18, 2018.

#5. Grand “Billionaires’ Row” residence: $17 million

Belmont Avenue $28m priciest listing Jan 8-14
This Belmont Avenue property was originally listed in January 2018 for $28 million, and sold in April for $17 million. Listing agent: Manyee Lui

This 103-year-old home on “Billionaires’ Row” – Belmont Avenue – in Vancouver’s prestigious Point Grey area was listed in May last year and again in January this year for $28 million on the nose, but did not sell. It was relisted in April at $19,980,000 and sold a week later for $17 million – quite the discount. The house sits on a massive 35,500-square-foot oceanview property, and inside there is more than 8,000 square feet of living space, some of which needs some modernizing. This includes a grand foyer and double-height living room with huge windows, large entertaining and dining spaces, eight bedrooms, eight bathrooms, plus an indoor pool with hot tub and conservatory area.

#4. Mysterious Point Grey home with pool: $17,388,000

Mystery Drummond Drive home
This Point Grey property on Drummond Drive sold for $17,388,000 in February 2018. Listing agent: Sarina Han

This was the only image we could come up with for this property, located on Drummond Drive in Point Grey, as there are no other listing photos. The description says the 1947-built home sits on a 37,679 square-foot lot and has 8,425 square feet of living space with four bedrooms, three bathrooms and ocean views from living room, dining room and bedrooms. There’s a spacious kitchen with French doors opening to a patio with a swimming pool and huge backyard. We’re guessing it was in unrenovated condition when sold in February, and that’s why there are no interior images – it could be a very pricey teardown.

#3. Southlands estate with vast master: $19,280,000

Southlands estate with pool
This luxurious home on a 2.5-acre estate in Vancouver's Southlands sold for $19.28 million in October 2018. Listing agent: Patsy Hui

This lavish home was listed in 2017 for $20,980,000, but didn’t sell at the time, and relisted again this year for $19,800,000. The house sits on 2.5 acres of land in Vancouver’s Southlands, and has six bedrooms – including a near-1,000-square-foot master suite – and eight bathrooms. Outside there is a luxurious pool and tennis court.

#2. Tudor-style renovated house with lake: $23 million

Vancouver Gables
The Gables on SW Marine Drive sold for $23 million, $15 million less than its original sticker price, in May 2018. Listing agents: Gregory Carros, David Hung. Image supplied by Marino General Contracting

A whole-house renovation transformed this Tudor-style house in Vancouver’s Southlands into a spectacular classic-contemporary home. Originally listed in January 2017 at a whopping $38 million, this was the property to see the largest price drop on this chart, having been taken off the market and relisted this year for just under $25 million. The Gables is six-bedroom, eight-bathroom, 10,595 square-foot home, originally built in 1929 for the president of BC Electric, on 4.25 acres of prime West Side land. The sprawling estate has its own lake and putting green, woodland trails, and an infinity pool with views of the Gulf Islands.

#1. Palatial Shaughnessy mansion: $26 million

Faith Wilson Main
The Lower Mainland's priciest home sale in 2018 (as of December 18) is this $26 million sale of a Shaughnessy home. Listing agent: Faith Wilson 

Topping the list is a grand, six-bedroom mansion in Vancouver’s priciest enclave, which sold for $26 million in May 2018 after six months on the market. That price may seem like a lot, but the house was listed in 2017 at $35 million, then reduced to $29,980,000. The sellers eventually accepted an offer of $26 million, which was still the Lower Mainland’s priciest sale of the year (as of December 18). The home was built in 2016 with super-luxury finishings throughout, including a lot of Italian marble and bespoke millwork. It has a grand two-storey lobby with sweeping staircase and a vast, double-height formal living room, as well as a stately library, a 700-bottle wine cellar, eight(count ’em) wet bars and an indoor swimming pool with hot tub. Upon completion, the home was listed by a different agent in April 2016 at an even higher price — $38.9 million — but did not sell at that time. Records also reveal that the property, which originally had a Tudor-style home, was sold back in 2000 for $1.8 million.

In case you’re curious as to why there are only Vancouver homes in this top five – the priciest West Vancouver home to sell this year was a $15,888,000 million oceanfront property, which was the sixth highest-priced sale in the region.

Still for sale… 

• This staggeringly huge $39.9 million house in West Vancouver’s Chartwell, currently the priciest home on Canada’s MLS

• Canada’s highest-priced (on MLS) condo, a $29.9 million, two-storey penthouse in Vancouver’s Coal Harbour

• Michelle Pfeiffer’s remote log mansion on Bute Inlet for $28.8 million

• This resort-like, Tuscan-style Surrey estate, also listed at $28.8 million

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Steven Axford

Steve is a award winning Realtor in Victoria BC, with his listings selling faster and for top dollar! Growing up in Victoria, BC and has always been active in his community. Steve is a Victoria Couga....

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