I think we should have a post for the dumbest sales of the week. I will start with 3350 Thompson Cres., West Vancouver List price $9,825,000 sold for $8,080,000. Selling agent was Clairy Yang from TRG Downtown Realty. Assessed value for land $2,600,000 + improvement $2,436,000 = total $5,036,000. 1 year old home. We only had 31 sfh sales in West Vancouver for the month of June and a couple so far in July. What would make somebody pay $3mil over assessed value at this time? The land replacement can be replaced for $2.5mil or less, and give the home construction costs $2.5 mil, and you can see that the assessed value is close. The Seller just won the lottery! The Seller is local who knows he just hit the jackpot! He played the game right by originally asking $11,388,000, then down to $10,398,000, then down to $9,825,000. The Buyer thinks that they got a bargain. I can't believe the Selling agents from over town that come over to sell in an area they know nothing about. For this sale price you could have a nice waterfront property. Times have changed in West Vancouver, where waterfronts are not as valuable as non waterfronts with views.