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VANCOUVER — In the latest weirdly expensive anomaly to hit the Vancouver housing market, a $3-million house that sold in just 24 hours will be torn down by its new owners.

“Most people look at these homes and it has nothing to do with the livability, the cuteness or the character [of the home], it is the economics of the lot,” said Wayne Hamill, a realtor with ReMax Select Properties.

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“I’m not for or against what’s happening; it’s just the way it is.”

The four-bedroom house at 3981 West 35th Ave. was built in 1934 but is perfectly sound — its listing notes it has “lots of living space.” But it’s being torn down because its new owners consider it too small.

At 2,950 square feet, it’s well below the 5,300 sq. ft that can be built on the one-fifth of an acre lot.

Mr. Hamill first listed the property at 11:30 a.m. on Tuesday, May 6. The first offer came in 90 minutes later, and by the end of the workday two more had arrived.