2020 was a year that saw government stay-at-home orders to stop the spread of COVID-19, requiring us all to bunker down in our homes whether we wanted to or not. But for the buyers of Vancouver’s most expensive homes of 2020, they were able to afford homes that allowed them the luxury of never wanting to leave.
Vancouver’s 2020 Real Estate Highlights:
- 22% increase in sales of detached homes in 2020
- Three of the most expensive residential detached sales ever recorded on MLS
- Highest selling price for Vancouver in over three years
- Average selling price of a detached home in Vancouver rose 8%
High-Ticket Sales and Increased Demand in 2020
While analysts anticipated a slowdown in Vancouver’s housing market due to the COVID-19 pandemic, in reality we saw the contrary. In 2020, there was a 22% increase in sales of detached homes from the previous year. The average selling price of a detached home rose by 8%, the first time this metric has increased since 2016.
We also saw three of the most expensive detached sales ever recorded on MLS for Vancouver.
3019 Point Grey Road sold with the highest selling price in over three years. It was poised to be one of the most expensive sales of 2019, but after 427 days on the market the time was right in 2020 for the sale.
Point Grey Road Continues to Have the Highest Price Per Square Foot in Vancouver
Among Vancouver’s most expensive homes, two were on the infamous Point Grey Road, two were in Shaughnessy, and one was at the University of British Columbia.
Although the two homes on Point Grey Road had the smallest lot and floor area size, their price per square foot was significantly higher than others that made the list. That can be attested to the properties on Point Grey Road being situated right on the beach with unobstructed views of the ocean and North Shore. Since there are such few properties in Vancouver with that kind of location, it comes at a premium.
Vancouver’s Most Expensive Homes of 2020:
1. 3019 Point Grey Road
- Sale Price: $27,000,000
- Asking Price: $35,880,000
- Days on the market: 427
- Price per sq ft: $3,938
- Floor area: 6,857 sq ft
- Lot area: 12,297 sq ft
- Neighbourhood: Kitsilano
With your backyard being the Pacific Ocean and North Shore mountains, it is no wonder this 6,857 sq ft home with six bedrooms, five bathrooms, and a private guest suite was first our list of Vancouver’s most expensive homes of 2020.
Rumoured to have caught the eye of Meghan Markle and Prince Harry as a possible home to plant their North American roots, this home has been deemed to be fit for royalty. With manicured private gardens and terraces that extend over the ocean, this home boasts an indoor outdoor lifestyle that nowhere else in the city offers.
2. 3738 Selkirk Street
- Sale Price: $23,000,000
- Asking Price: $23,985,000
- Days on the market: 16
- Price per sq ft: $2,250
- Floor area: 10,223 sq ft
- Lot area: 32,755 sq ft
- Neighbourhood: Shaughnessy
This First-Shaughnessy estate sits on a 0.75 acre lot, the largest lot of the Top 5. The grounds offer an expansive lawn with a tennis court, multiple seating areas, perfectly manicured lawn, and conservatory.
The amenities continue inside, where there is an indoor pool, spa, full-sized professional gym, virtual golf, and wine cellar. The house has been fashioned with five fireplaces and finished with only the most luxurious materials, including hardwood floors, marble tile, and magnificent woodwork.
3. 5638 Newton Wynd
- Sale Price: $19,400,000
- Asking Price: $22,999,000
- Days on the market: 3
- Price per sq ft: $1,993
- Floor area: 9,734 sq ft
- Lot area: 30,300 sq ft
- Neighbourhood: University of British Columbia
Situated on the peninsula of the University of British Columbia, this gated 30,300 sq ft lot features an outdoor pool, tennis court, and manicured grounds. The property has views of the North Shore and Pacific Ocean, and almost immediate access to the many forest trails and the beach of Pacific Spirit Park.
The seven bathroom, six bedroom home is fashioned with a custom kitchen, theatre, home gym, wine room, and a 1,350 sq ft master bedroom. Designed to fully embrace the surrounding landscape, the design brings the outdoors in with oversized windows to frame the expansive views and multiple terraces.
4. 1389 The Crescent
- Sale Price: $17,400,000
- Asking Price: $17,280,000
- Days on the Market: 11
- Price per sq t: $1,581
- Floor area: 11,009 sq ft
- Lot area: 31,367 sq ft
- Neighbourhood: Shaughnessy
The only home on our list to sell above asking, this historic Tudor-style mansion built in 1913 has been immaculately maintained and renovated for over a century. With 11,000 square feet of living space spread across four stories, modern touches have enhanced the home for modern living, while embracing the original craftsmanship.
Outside there is a lounge with an exposed brick fireplace, dining terraces, and outdoor pool coupled with a cabana. The expansive grounds are surrounded by mature trees and vegetation, providing a private haven in the middle of the city.
5. 2711 Point Grey Road
- Sale Price: $13,500,008
- Asking Price: $15,300,000
- Days on the Market: 0
- Price per sq ft: $2,772
- Floor area: 4,870 sq ft
- Lot area: 7,229 sq ft
Situated on the same street as the most expensive sale of 2020, the views from Point Grey Road are unparalleled. With unobstructed views that are guaranteed to stay that way, one can understand why the prices per square foot on this street are some of the highest in the city.
Built in 1994, the home has been fitted with oversized windows and skylights that fill the space with natural light. There is a wraparound deck to enjoy the view from and a staircase from the backyard leading directly to the beach below.
Icon&Co represents one of the most luxurious properties currently on the market in Vancouver: Elements Estate
Elements has won multiple awards regionally and internationally, as well as graced the cover of many magazines.
Sitting on almost 16,000 square feet of land, Elements Estate is a Feng-Shui perfect 7-bedroom and 10-bathroom opulent oasis in Vancouver’s exclusive Shaughnessy neighbourhood.
Handcrafted by legendary builder T. Jones Group, in partnership with Sublime Interior Design, the home boasts large scale waterfalls, venetian-plastered walls and ceilings, and custom art by internationally-acclaimed Ronan Boyle.
The property offers ample entertaining and relaxing space, with a full bar and banquet room downstairs, as well as indoor pool, spa, and theatre.
Icon&Co is a Vancouver real estate sales and marketing agency. We represent some of the most respected real estate offerings in the lower mainland, our services include refined marketing solutions, product development, project sales, and land acquisition.
NOTE: this representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assume no responsibility for its accuracy.