How many more sub-million dollar single family detached homes appear on the market over the next year is truly anyone’s guess
After several years of continually rising prices for single-family detached homes in Vancouver, the sub-million dollar house has re-appeared — and it even has a white picket fence and grassy back yard.
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The listing, at 1578 East 22nd Avenue, is priced at $998,000 — which is a hefty discount on the $1,264,800 value placed on the property on July 1, 2018 by the B.C. Assessment Authority. It was assessed at $1,319,600 on July 1, 2017.
The home is in the Kensington Cedar-Cottage neighbourhood on Vancouver’s east side, north of Kingsway and east of Knight. It has a 33-by-100 foot lot with no back lane and was built in 1922, when 840 square feet was deemed sufficient to raise a family in three rooms. It has an 821 square foot unfinished basement.