300 North Hythe, Burnaby, B.C.
Asking price: $1.938-million
Selling price: $1.875 million
Days on market: 33 days
Listing agent: Ian Watt, Sotheby’s International Realty
The house was originally priced at $1.988-million for 26 days. Agent Ian Watt held three open houses and saw 50 groups come through, but no one made an offer. They reduced the price to $1.938-million and got two offers.
“What does that tell you?” Mr. Watt asks. “There are a ton of buyers out there, but they don’t want to pay the price. Sellers don’t have the control they did year ago.”
The sellers were a couple who had raised their family in the house and were moving into a luxury condo. The buyers were a young family who had been in the market for some time, Mr. Watt says.
What they got
The 3,550-square-foot house is on a quiet street in Burnaby’s prestigious Capitol Hill neighbourhood, on a nearly 8,000-square-foot lot with panoramic mountain and downtown views.
Built in 1989, it has 3½ bathrooms, three bedrooms, four gas fireplaces, central vacuum, air-conditioning, in-floor heating, an irrigation system, and three-car garage.
The agent’s take “Anything over $2-million is sitting on the market and not selling,” Mr. Watt says. The house sold below its assessed value.
“This one would have sold above assessed value a year ago.”