How much is a view worth to you?
For some, a view is down the priority list after the size of the lot and square footage of the actual house.
For others, it’s everything and worth paying more for. How much more? Well, in the case of one Burnaby house, maybe as much as a million dollars more.
The house is on Delta Avenue in the Capitol Hill area. The house is tiny at under 2,000 square feet on a lot that is just 4,000 square feet. It’s also 60 years old – an age that turns off many buyers.
But then there is the view. The house faces west with an unobstructed view that stretches all the way past downtown Vancouver to the ocean. The house is also built to take advantage of this view, with 1,500-square-feet of decks on two storeys, including one that features special seven-panel folding doors that open up.
All this propelled one buyer to pay $2,350,000 after just eight days on the market. Now, it is possible this could be a teardown for a much-larger multi-level house because for some, the view is worth it.
The Real Estate Board of Greater Vancouver says there were 3,232 home sales last month, which equates to a 34.1% decrease from April 2021 and a 25.6% drop from the 4,344 homes sold in March of this year.
According to the report, some categories of housing saw small increases in price in Burnaby while others actually saw a decline.
Residential houses in Burnaby East hit a benchmark price of $1,276,000 last month, which equates to a 0.5% decline compared to March.
Burnaby North is at a benchmark price of 1,285,500 (+1.9% in one month) while Burnaby South comes in at $1,207,900 (+1.3% in one month).
When it comes to single-family detached homes, Burnaby East hit a benchmark price of $1,750,800 (-1.4% in one month), while Burnaby North and South both are more than two million dollars at $2,048,300 (+1.3% in one month) and $2,127,700 (+2.9%) respectively.
Two Burnaby areas saw a drop in townhouse prices with Burnaby East at a benchmark price of $816,500 (-1.5% in one month) and Burnaby South at $878,500 (-1.4% in one month).
Burnaby North saw an increase of 4.9% in one month with a benchmark price of $983,000.
- With additional reporting by Jess Balzer
Follow Chris Campbell on Twitter @shinebox44.
