A Point Grey home that went on the market a couple of weeks ago has now sold for more than a million dollars over the asking price.
The home, located at 4655 Bellevue Drive and built in 1928, was listed for about $7.8 million.
It sold for just over $9 million.
There were 11 offers on the home and all were cash deals with no subjects.
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Real estate experts say there’s no sign of a slowdown on the horizon and there are many factors driving demand.
“What we’ve seen when it comes down to what’s driving the housing market, there are a number of different fundamentals,” said Elaine Hung from Sotheby’s International Realty Canada. “The basics that we’ve talked about, low inventory, high consumer demand [and] historically low interest rates. We see domestic demand, demand from across Canada and [we] also see buyers with international interest.”
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“Some of those buyers are buyers who are moving here for all the reasons we love about Vancouver. Some of those buyers are investors because Canada is a safe haven for investment at this particular point in time.”
The home is expected to be torn down once permits are approved.
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