Kitsilano Craftsman Home Commands Premium Price in Competitive Sale
A five-bedroom detached house in Vancouver's desirable Kitsilano neighborhood has sold for $4,240,000 after a competitive bidding process that saw the final price exceed the asking amount by $242,000. The property at 1747 Balaclava Street was listed for $3,998,000 and spent only eight days on the market before the January 16 sale.
Property Details and Features
The 3,082-square-foot home blends historic character with modern amenities. Built in 1912, the Craftsman-style residence features:
- Five bedrooms and four bathrooms
- Original wood floors, coffered ceilings, and crown moldings
- Bay windows and stained-glass windows with custom shutters
- A wood-burning fireplace
- Updated chef's kitchen with premium appliances
- Spa-like ensuite bathrooms and custom paneling
- Skylights and designer paint accents
The main floor contains the principal living areas, while four bedrooms are located upstairs. The lower level offers additional flexibility with two separate entrances, a family room, fifth bedroom, workshop area, mud room, laundry facilities, and storage space.
Competitive Market Dynamics
According to listing agent Karley Rice of Macdonald Realty, "Four offers were received for this property, demonstrating strong demand for well-maintained character homes in prime locations." The home's location just off Point Grey Road on a landscaped lot contributed to its appeal, as did the careful updates that preserved the home's historic integrity while adding contemporary comforts.
The British Columbia Assessment value was $3,142,000, making the final sale price approximately 35% higher than the assessed value. Shannon Vrlak of WESTSIDE Tom Gradecak Realty represented the buyer in the transaction.
Richmond Townhouse Also Sells Above Asking
In a separate transaction, a three-bedroom townhouse in Richmond's Terra Nova subdivision sold for $1,272,000, slightly above its $1,269,000 asking price. The 1,801-square-foot unit at 3880 Westminster Highway spent just six days on the market before the January 23 sale.
The townhouse features:
- Three bedrooms and three bathrooms across three levels
- High ceilings and open-concept main floor
- Remodeled kitchen with island and full appliance package
- Two spacious balconies
- Updated lighting, new carpets, and hardwood floors
- Recent upgrades including new roof, hot water tank, and garage motor
Located in the 157-unit Mayflower complex built in 1997, the property includes access to community amenities such as an outdoor swimming pool, hot tub, exercise center, lounge/party room, and playground. The monthly maintenance fee is $459.02, and rentals are permitted with certain restrictions.
Jessica Chen and Jason Ng of Oakwyn Realty listed the property, while Howard Hu of eXp Realty represented the buyer. The British Columbia Assessment value was $1,185,000.
Market Implications
These transactions illustrate continued demand in Metro Vancouver's real estate market, particularly for properties that offer:
- Prime locations in established neighborhoods
- Character features combined with modern updates
- Flexible living spaces that accommodate various lifestyle needs
The rapid sales timelines—eight days for the Kitsilano home and six days for the Richmond townhouse—suggest that well-priced properties in desirable areas continue to attract multiple offers in the current market environment.
