West Vancouver home with basketball court listed at its 2021 sale price

A home at 2956 Palmserston Ave. in West Vancouver is listed for $10.8 million, exactly what it sold for in August 2021. The seven-bedroom, eight-bathroom property was previously listed for $13.88 million in September 2024 and again in May 2025; both listings were taken down months later. Before the 2021 sale, it sold for $10.1 million in 2016. BC Assessment’s most recent assessed value is $10.174 million, close to the current asking price. The property’s market experience reflects conditions facing many Lower Mainland homeowners and a market that is not favouring sellers.

Built in 1995, the two-storey home has 10,685 square feet of space. Its amenities include basketball and football courts, 30-foot ceilings in the principal rooms, a gourmet kitchen, a private office, a guest suite and multiple powder rooms. It also has a sizable swimming pool. One main living area opens through wide doors onto a garden, bringing in natural light; a water feature sits near the main entrance. Other features include a media room and a large wine cellar. The listing says the home can be explored on Zillow.

The listing also reflects the luxury housing market in West Vancouver. Sotheby’s International Realty Canada released a report on the local market a few weeks ago, saying that, like the broader housing market, it strongly favours buyers. From Jan. 1 to Aug. 30 this year, 57 properties sold for more than $4 million, down 25 per cent from 76 homes above that price threshold in the same period last year.

“Over the past two decades, West Vancouver’s luxury real estate market has undergone dramatic change, shaped by economic cycles, changing market conditions and extraordinary price growth. As Sotheby’s International Realty Canada celebrates 20 years in West Vancouver, newly compiled data reveals how dramatically the luxury market has evolved and where it stands today,” the report states. It said the luxury market this fall is “firmly” in buyers’ territory.