It’s no secret that the Lower Mainland’s housing market is red hot.
So when a modest property in West Vancouver hit the market recently for $1.5 million, no one batted an eye.
But it’s the number of offers that the 3,000 square foot home received that’s raising eyebrows.
A stunning 33 offers were submitted for the home, including one by Amyn Bhayani, who offered $200,000 over the asking price.
To his surprise, he was outbid. The home eventually sold for $2.1 million.
“I thought I had a pretty good position with the number I was putting forward,” says Bhayani.
His realtor, Jason Jennings, says the home was “very well priced” but it’s the first time he’s ever heard of a home in West Vancouver getting 33 offers.
Bhayani believes the intense interest in the home was fueled by investors, who saw the home as a bargain. A neighbour’s home is currently listed for over $7 million.
West Vancouver is often referred to as one of the wealthiest municipalities in Canada, and 95 per cent of the district’s 16,000 homes are valued at more than $1 million.
By Peter Meiszner Global News