The latest poster child for Vancouver real estate excess is off the market, having fetched — of course — more than the asking price, proving that when it comes to securing a plot of dirt on the city's west side, there seems to be no limit to what buyers will spend.

The property sold for $2.48 million, $80,000 more than what was considered an outrageous list price just two weeks ago when it was put on the market.

The backyard is a landscaper's dream. (Kavanagh Group)

Located on West 14th near Sasamat in the location-location location-driven Point Grey neighbourhood, the house had a sale price that reflects a new upper range for land value. It's certain the wrecking ball will soon land on the shabby little house currently sitting on the property, cheekily dubbed a "dream home" by local newspapers.

Only two blocks away, a brand new four-bedroom, six-bathroom home perched on a slightly smaller lot is currently listed for $4.3 million.