West Vancouver Mansion Sells for $13.6 Million, Below Valuation

A mansion in West Vancouver has been sold for significantly less than its initial asking price. The property, located at 166 28th St., recently changed hands for $13.6 million, while the most recent valuation by BC Assessment placed its worth at $15,543,000. This discrepancy highlights the challenges faced in the luxury real estate market.

The home boasts six bedrooms, eight bathrooms, and a spacious 5,933 sq. ft. of living space. The land alone is valued at $11,673,000. The sale, finalized earlier this month, follows a lengthy listing history that began in September 2021 when the property was first placed on the market for $22.8 million.

Declining Prices and Multiple Listings

According to data from Sutton Group-West Coast Realty, the owner has made numerous attempts to sell the mansion over the past two years. After the initial listing was terminated in 2022, the asking price was reduced to $19,980,000. This listing also ended in 2023, but the property saw a brief resurgence with an adjusted price of $19,680,000.

In total, the mansion was listed an astonishing 11 times before finally attracting a buyer. The final listing in June 2025 had an asking price of $14,980,000 before the sale was concluded for $13.6 million. The fluctuating prices reflect broader trends in the luxury housing market, which has seen stagnation in recent months.

Luxury Features and Market Trends

The listing described the residence as a “world-class waterfront residence in the heart of Dundarave.” It was rebuilt in 2015 and is situated on a private estate spanning 12,309 sq. ft. along the desirable Bellevue Avenue. Its distinctive glass exterior allows for ample natural light, creating an inviting atmosphere throughout the home.

Among its many luxurious features, the property includes a swimming pool with panoramic views, contributing to its “resort-style” appeal. Some of the promotional images showcased on the listing were enhanced through “virtual staging,” a common practice in real estate marketing.

Despite a sluggish start to the year for high-end properties, recent months have seen a resurgence in the luxury real estate sector, with several transactions exceeding $10 million. This uptick suggests that demand may be stabilizing as buyers seek premium properties in sought-after locations like West Vancouver.

As the market continues to evolve, the sale of this mansion will be a case study for both sellers and buyers navigating the complexities of luxury real estate in the region.