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How much would you pay for a pile of burned out garbage? If it comes with the land beneath it on Vancouver's West Side, the asking price is a depressing $3.99 million.

The zero-bath, zero-bedroom property in the 2500 block of West 3rd Avenue is described by its real-estate agent as something of a fixer upper.

"Very rare development opportunity to custom build your next dream home in the desired Kitsilano area!" the property's listing reads. "Zoned RT-8 allows for build of multiple dwelling."

It also mentions a couple of good schools in the neighbourhood.

The house that remains there in shambles burned in a fire last December.

There's no longer anything shocking about a pile of rubble selling for $4 million in Vancouver. Years into a housing crisis, residents have grown accustomed to such outrageous listings, especially on the city's West Side.

But the market has cooled a little in recent months. And so, while in the past a property like this one might have sold above its asking price, it's possible the owner is opening with a slightly unrealistic price and will have to settle for less than $3.99 million.

On August 13, the Straight reported on new B.C. Real Estate Association statistics that shows sales are down nearly 25 percent from the same month one year ago. Prices, however, have largely yet to follow.

More coverage of typical Vancouver real-estate listings: