3903 West 22nd Avenue, Vancouver



Asking Price: $1,860,000

Selling Price: $1,850,000

Taxes: $6,038 (2009)

Days on Market: zero

Listing Agent: Walter Wells, Sutton Group West Coast Realty


THE ACTION: This two-storey house in Dunbar initially lingered on the market for eight months between spring and fall last year. When it was relisted a couple weeks before the winter holidays, it drew offers on the first day.

“Traditionally as the Christmas season gears up, real estate gears down, but this season saw housing prices all of a sudden make a quantum leap,” says agent Walter Wells.

“For one thing, inventories of houses for sale continue to be at unusually low levels – about 300 versus a normal level of 800 – and large numbers of newly minted Chinese millionaires have been flying into town to scoop up some prime Canadian real estate.”

WHAT THEY GOT: This 83-year-old structure has a 1,400-square-foot plan with four bedrooms, including two on the top floor, a full bathroom, a main floor kitchen, dining room and living room with original cove ceilings, hardwood floors and a wood burning fireplace.

Other assets include an unfinished, 1,000-square-foot basement and two-car parking.

The property’s value lies mainly in its locale on a corner lot in “one of the city’s most popular – and expensive – neighbourhoods,” says Mr. Wells, who also cites its proximity to Pacific Spirit park and esteemed schools, such as Lord Byng Secondary and the University of British Columbia.

THE AGENT’S TAKE: “Although it is an attractive four-bedroom, 2,400-square-foot character home on a large 50- by 122-foot lot …it will be torn down to make way for a brand new, luxury 4,000-square-foot residence,” says Mr. Wells.

“The new home will also enjoy a good view of Vancouver’s North Shore Mountains.”