Vancouver teardown in Point Grey sells for almost $2.5M

A shabby, 86-year-old home on Vancouver's West side is the new poster child for real estate excess in the city.

Shabby little house that came to symbolize Vancouver's runaway real estate market sells over asking

The latest poster child for Vancouver real estate excess is off the market, having fetched — of course — more than the asking price 2:14

The latest poster child for Vancouver real estate excess is off the market, having fetched — of course — more than the asking price, proving that when it comes to securing a plot of dirt on the city's west side, there seems to be no limit to what buyers will spend.

The property sold for $2.48 million, $80,000 more than what was considered an outrageous list price just two weeks ago when it was put on the market.

The backyard is a landscaper's dream. (Kavanagh Group)

Located on West 14th near Sasamat in the location-location location-driven Point Grey neighbourhood, the house had a sale price that reflects a new upper range for land value. It's certain the wrecking ball will soon land on the shabby little house currently sitting on the property, cheekily dubbed a "dream home" by local newspapers.

Only two blocks away, a brand new four-bedroom, six-bathroom home perched on a slightly smaller lot is currently listed for $4.3 million.

This house two blocks away is listed for $4.3 million. (Rennie & Associates Realty)

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