- 632 East 20th Avenue
- Asking price: $549,900
- Selling price: $621,000
- Previous selling price: $406,000 (July 2005)
- Taxes: $2,855 (2007)
- Days on market: 6
- Listing agent: Patricia Houlihan, Macdonald Realty
"Good things come in small packages," says real estate agent Patricia Houlihan, referring to this 1,576-square-foot home.
The two-bedroom house, with an unfinished basement, was built in 1909 and retains many character accents including a claw-foot bathtub, wood mouldings and built-ins, and wood-framed windows.
But it has also seen many updates such as a new kitchen, hardwood floors and raised garden beds in the south-facing back yard, which is fully fenced.
"The house looked lovely but we thought it would not have enough space for many potential buyers," Ms. Houlihan says.
"We listed the home in mid-May ... at $549,900, a bit below the average asking price in the neighbourhood, in the hopes of encouraging multiple offers."
The home is located near shops and restaurants in prime Main Street area. While the house and lot size, 25-by-122 feet, may be relatively small, the response was huge, she says.
"The price allowed many people to consider entering the housing market without having to start at a condominium."
After a weekend of "busy" open houses, she received multiple offers including one that was above the asking price and came without conditions.
"The house sold at $621,000 — $71,100 more than the asking price," she says, evidence that "the market is still very hot at the entry-level prices."
However, "pricing is key," she stresses.
"When an entry-level home is not overpriced, multiple offers are not yet a thing of the past in Vancouver."
