Vancouver Price Drop

Documenting Vancouver real estate price movements

Monthly Archives: April 2012

The Weekly Drop – April 30, 2012

Here is this weeks edition of The Weekly Drop, the top 10 droppers of the week. I also want to clarify what this list represents. It is not the 10 properties that have dropped the most since they were first listed and it is not the 10 properties that dropped the most over the past week. This is a list of 10 properties that had price changes this past week that have lost the most since they were first listed (or March 9, whichever is earlier).

If you think I should be changing this then feel free to comment but my reasoning is that making it the all-time biggest droppers would create a stale list and just basing it on the biggest drops of the past week will miss some homes that have been dropping consistently week to week. I think this method is a good balance of the two.


#1) Address:3672 W 15TH AV, Point Grey, Vancouver West

March 09 V936044 $2,790,000 $0 0%
April 17 V936044 removed
April 25 V945244 $1,990,000 -$800,000 -29%

Assessment: $2,072,000 and sold May 1, 2011 for $2,099,000.

Looks like someone looking to quickly cut their losses

May 3 Edit: Spoke too soon, after not selling at the open house they are now arranging private showings but at $2,538,000!  So a few days after winning the “Weekly Drop” they are going to be at the top of the list on the “Weekly Flop” showing homes that have had their prices raised by the most in the past week.  That weekly feature will be coming tomorrow

This beautiful character with stunning ocean, city & mountain view, 3-level well appointed home has been completely renovated to the studs in 1990 with new foundation. Spacious main floor plan with hardwood, gourmet kitchen, bright living & dining rooms with French doors onto covered south-facing sundeck. 3 great size bedrooms open to long veranda w/spectacular views of ocean, mountain & city. Enjoy the fireworks show from your bedroom. Garden level w/private entrance, potential for self-contained suite w/2 bedrooms, media room, bath, storage/office and laundry. Prime Point Grey area, close to Lord Byng & Queen Elizabeth, public transit nearby, south-facing backyard. Please to show. Call Listing REALTOR now for private viewing. PUBLIC OPENS: Saturday/Sunday April 28th/29th, 2-4 PM.


#2) Address:# PH2 1415 W GEORGIA ST, Coal Harbour, Vancouver West

March 09 V904153 $3,950,000 $0 0%
April 28 V904153 $2,980,000 -$970,000 -25%

Assessment: $2,364,000

AIR CONDITIONING. REAL PENTHOUSE. Entire top floor of the building. 2 private elevators leads to this special penthouse suite. Features all marble floor throughout. Extra height & glass domed ceiling living room with VIEWS to Stanley Park, N.Shore mountain & Water. Great master 5 pcs ensuite has dress area & W/I closet plus private deck with NE VIEWS. 2nd bedroom is N.facing. 3rd bedroom facing SW with excellent views of English Bay & beyond. Granite counter & gas cooktop kitchen combines with nook area. 3 parking stalls. Other area is SE facing, over 700 sq.ft. private rooftop terrace for party event. Greater 800 sq.ft.private storage room on Mezzanine level. Patio & storage are limited common area and NOT included in sq.ft.


#3) Address:# 413 33960 OLD YALE RD, Central Abbotsford, Abbotsford

March 09 F1127557 $169,900 $0 0%
April 27 F1127557 removed
April 28 F1210945 $129,000 -$40,900 -24%

Assessment: $133,300

Ideal for an investor or first time buyer. 1 bedroom and 1 bath condo with a Maple kitchen, laminate flooring, in-suite laundry & electric fireplace. 2 underground parking stalls and 1 storage locker. Downtown Abbotsford location, walking distance to restaurants, pubs, grocery stores and more. No age or rental restrictions. Great investment!!


#4) Address:# 336 1735 AGASSIZ-ROSEDALE HY, Agassiz, Kent

March 09 H1103414 $85,000 $0 0%
April 27 H1103414 $65,000 -$20,000 -24%

Assessment: $103,100

Why rent? Ownership is less expensive. Well maintained upgraded unit, recently painted and floored. Walk to all amenities and enjoy village life. Live where the action is.


#5) Address:# 307 4369 MAIN ST, Whistler, Whistler Pemberton

March 09 V817945 $159,000 $0 0%
April 25 V817945 $127,000 -$32,000 -20%

Assessment: $103,100

Deluxe studio, fully finished. Located in the heart of Whistler Village. Featuring lofted 9′ ceiling, galley style kitchen complete with full size fridge, stove, dishwasher & microwave oven. Cozy sunken living room. Close to shops, restaurants and ski lifts. The building has an outdoor pool, hot tub, fitness room, sauna and secure underground parking. Affordable luxury with room for four people.


#6) Address:12253 228TH ST, East Central, Maple Ridge

March 19 V937996 $359,900 $0 0%
April 25 V937996 $299,900 -$60,000 -17%

Assessment: $352,100

Investor alert! Two bedroom rancher with family room in central Maple Ridge. This home is set on a 12,000 square foot lot in the Town Center Incentive Area for redevelopment. Just looking for an affordable home on a large lot, then this is it. Close to elementary schools, public transportation and you can walk to down town. Property backs on to a park.


#7) Address:# LT.3 SWARD RD, Durieu, Mission

March 10 F1206134 $299,900 $0 0%
April 28 F1206134 $250,000 -$49,900 -17%

Assessment: Not Available

View Property 8.17 Acres on North Hatzic Lake, Waterfront and beautiful mountains – GRACE MOUNTAIN Property – Bare land, bring your ideas to this beautiful area. Build the dream home, access on the end of a dead end street. Small community with a lovely park with its own launch for private community use. Until your dreams come alive. Come and explore your opportunities. Call today, land never gets cheaper.


#8) Address:# 2510 5380 OBEN ST, Collingwood, Vancouver East

March 21 V938381 $399,000 $0 0%
April 17 V938381 removed
April 25 V945331 $333,000 -$66,000 -17%

Assessment: $322,000

Centrally located in Vancouver Collingwood Village! Modern, stylish “URBA” building with spectacular city & mtn view!! Concrete tower, between Joyce and Boundary close to skytrain station, parks, schools & shopping.Most popular floor plan, bright & nice. A MUST SEE!! All meas approx, buyer to verify.


#9) Address:5638 CROWN ST, Dunbar, Vancouver West

March 09 V934064 $2,398,000 $0 0%
March 13 V934064 $2,298,000 -$100,000 -4%
April 04 V934064 $2,248,000 -$150,000 -6%
April 13 V934064 $2,198,000 -$200,000 -8%
April 23 V934064 removed
April 25 V945487 $2,150,000 -$248,000 -10%
April 27 V945487 $1,988,000 -$410,000 -17%

Assessment: $2,095,900

TERRIFIC LOCATION west of Dunbar & north of 41st Ave. Level 66 x 117.5 lot. RS-5 allows approximately 5400 sq ft of new construction. Sunny & private back garden. Easy transit and cycling access to UBC, Crofton & St. Georges. Rent out the cozy 3 bdrm bungalow while you plan a dream home. Now’s the time to make a decision on this Dunbar neighbourhood that is hard to beat for family living.


#10) Address:1350 COAST MERIDIAN RD, Burke Mountain, Coquitlam

March 09 V917871 $2,350,000 $0 0%
April 26 V917871 $1,975,000 -$375,000 -16%

Assessment: $920,000 (Assessed value only reflects actual not potential use)

Mountain fresh air! Dream home for family on spacious 1.1 acre landscaped property. Future with 8 lots or hold for longer term townhome possibilities. Home was custom re-built, Architect designed and supervised. Perfect for extended family. Quality throughout. Great room includes hardwood floors, radiant heating, stainless steel appliances in kitchen with granite counters. Spacious master bedroom with luxurious ensuite. Gated front entrance, private beautifully landscapedyard with back boundry a natural creek. A 2 bedroom separate entrance suite. This is a gem to hold on to as a secure investment and luxurious private lifestyle.


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Just your slightly above average home – April 2012

We see crazy numbers thrown around like > $1 million average selling price for a Vancouver home and people, especially people outside of Vancouver, are of course shocked.  Well that’s nothing because what most outsiders don’t realize is that in most places in the lower mainland, $1 million doesn’t get you a whole lot of home.  The majority of people just want to live in a slightly above average home, say the 60th percentile of homes – so for example, if there were 100 homes in an area, what does the 40th most expensive home get listed at?  Well that’s the focus of today’s post.

1) Vancouver West – $3,230,000

5428 ASH ST, Cambie, Vancouver West
V931896

Well maintained deluxe top quality home built by European builders. Big lot with almost 5000 sq ft living space. Spacious living and dining room, cozy family room leading to professionally landscaped backyard. Bright open kitchen with a lot of granite and wok kit. All 4 bedrooms above are ensuited. Air conditioned and radiant heat. Basement fully furnished with home theatre, recreation room, wet bar, sauna room, and an ensuite bedroom too. Detached 4-car garage with rear lane. Walking distance to Oakridge Mall, QE Park & Eric Hamber High School.

2) West Vancouver – $3,068,000

2120 MATHERS AV, Dundarave, West Vancouver
V919996

Impressive executive Craftsman-style 4 year old home in Ambleside/Dundarave location with fantastic ocean view. 3 levels of quality with 2×6 construction, Euroline T/T doors, Brazilian cherry hardwood flooring, crown mouldings, high efficiency boiler….This 5 bedroom home feats on the main excellent open plan with merging grand living & dining rooms, nook, family room off open stunning kitchen with S.S. appliances & granite counters, all looking out to the views., den & laundry. Up has 3 spacious bedrooms & a self-contained lower level with recreation room, kitchen & 2 bedrooms & walkout access to the level rear yard. Priced to sell! Open House: Sun, Apr. 15th, 2:30-4:30pm.

3) Whistler – $1,825,000

6303 LORIMER RD, Whistler, Whistler/Pemberton
V924192

In the heart of Whistler Cay Estates, close to the Valley Trail and Rainbow Park, this warm and charming Chalet has it all. With a complete renovation in 2009 this house received all new modern upgrades, including home automation system which gives the ability to control the heat, security and lighting from anywhere in the world. Relax by the fire in the cozy living room and enjoy preparing a meal with your family in the large gourmet kitchen. Unwind in the private outdoor hot tub in the winter and bask in the sun during the summer in this fully landscaped, fenced, irrigated backyard with peak-a-boo views. The outdoor kitchen with built-in BBQ and outdoor speakers makes it perfect for entertaining. Inside and out, this home is a treasure and not to be missed.

4) Richmond – $1,399,000

5500 WOODWARDS RD, Lackner, Richmond
V897509

This like-new home has been completely repainted and is steps from among the top ranked elementary schools in BC!* Radiant heat, South facing rear yard for afternoon sun, wok kitchen, granite counter-tops, slate tiled floors, concrete tile roof, stainless steel appliances, new hardwood floors, crown mouldings, vaulted living room ceiling, lawn sprinkler system and the large laundry room UPSTAIRS where it is most convenient. Each large bedroom has a 4 piece ensuite bathroom and there is an office or den downstairs. The huge kitchen has great counter space! Move-in condition and forget the school commute or carpool! *Richmond Christian School & Jesse Wouk Elementary School. New Home Warranty to November 2012.

5) Burnaby – $1,298,000

5122 CARSON ST, South Slope, Burnaby

PURE ELEGANCE & Quality Workmanship throughout. There’s nothing like this 5 Bdrm (4 up & 1 down for Ste. potential), 4.5 Bthrm home. Breathtaking SOUTH VIEW from all 3 levels incl. the private balcony from your Master Bdrm. Relax in your 5-pc Master Ensuite (separate shower & tub) w. rich Marble tile. Gourmet Style Kitchen complete w. Breakfast Bar & 6 high-end KitchenAide Appliances, Maple Cabinets & Engineered Stone Countertops. Beautiful Maple Engineered HW Floors complimented by large Travertine tiles w. Granite border on the Main. Enjoy year-round comfort w. your Built-in A/C, HVR, Radiant H/W Heat, & 2 designer gas f/p’s. Mins. to Schools, Skytrain & shopping. All meas approx. OPEN HOUSE APRIL 21ST & 22ND @ 2-4PM.

6) North Vancouver – $1,298,000

3211 HUNTLEIGH CR, Windsor Park, North Vancouver
V933381

Wow! One of the spectacular homes built by CREST. Completely renovated in 2011 from top to bottom with outstanding quality 3 bdrms, master bdrm with a luxury ensuite and contemporary kitchen with stainless steel appliances to desire for with an open plan to the family room creating a fantastic room to entertain family, friends and guests. Beautiful new chandeliers to brighten up for the dining room and an eating area. Also, 2 bdrms down with a full size kitchen, a wet bar, a wood-burning fireplace and separate entrance for a mortgage helper. Double windows with wooden blinds save a lot of heating cost. Cozy front side yard and beautiful south facing backyard fenced backing onto the greenbelt. Ready for you to move in!

7) White Rock – $1,295,000

15619 COLUMBIA AV, White Rock, White Rock
F1210394

No Picture

East Beach – Ultimate smart living & functionally chic describes this LEED PLATINUM home in the heart of White Rock’s vibrant East Beach Community and only 2 blocks from the bay, Relax in privacy on rooftop deck or in the garden. This BRANDNEW 3 bedroom, 4 bath + office home incorporates the best in sustainable technology & smart home innovation. The 12′ vaulted ceilings & floor to ceiling window, huge master bdrm & European ensuite are a must see. Professional Bosch appliances, with hand crafted Wenge cabinetry & European built-ins throughout. Large office/studio space features separate entrance & private washroom. Integrated Control4 smart home system with complete lighting, alarm, built-in audio & video control.

8) Port Moody – $1,290,000

2189 SUMMERWOOD RD, Anmore, Port Moody
V804608

Chartwell Green Rancher (with bachelor suite) one acre lot with a peek-a boo-of Burrard Inlet- Approx 2900′- 4 bdrm- 3 car garage & loads of additional parking-3 baths-1 F/P-Loads of upgrades-Laminated hardwood, new appliances, newer roof-wheel chair friendly, hot water heat, huge rooms, prestigious area-good buy-New subdivision- Close to school.

9) Vancouver East – $1,098,000

2529 FRANKLIN ST, Hastings East, Vancouver East
V928105

Excellent location and quality. Walking distance to school, bus, market. 2 separated suite (1 & 2 bedrooms) with separate entry. Unbeatable value in this well maintained home. Call for your private view.

10) Coquitlam – $899,900

3357 PALISADE PL, Burke Mountain, Coquitlam
V933815

Million dollar home for under $900k! Prepare to be wowed by this stunning custom-built home on a private Burke Mtn greenbelt lot, where no detail has been forgotten. Situated on a quiet cul-de-sac, this upscale home has all of the quality and high-end finishings you’d expect in a luxury residence. Entertain guests in the gourmet kitchen complete w granite, stainless, & $10k chef’s DREAM stove! Bamboo flooring throughout with unique in-laid tile in kitchen. Large master bdrm features a private dressing area & luxurious spa-like ensuite. The beautifully finished walk-out 1-bdrm LEGAL suite features granite, crown mouldings, in-suite laundry & more!

11) New Westminster – $867,900

402 6TH AV, Queen’s Park, New Westminster
V945901

Queen’s Park Historic District, circa 1915 Heritage Craftsman Style family home, lovingly restored to maintain it’s original character & charm, a unique design with lots of light & windows, excellent flow & floor plan, foyer with open staircase leads to 3 bedrms up, oak & fir floors, stained glass, french doors,wood fireplace, updated shaker style period kitchen, open to sunroom, dining rm, built-ins, formal living rm, 3 bathrms, claw tub, 9′ ceiling, full basement with 4th bedrm down, easy suite potential. Beautiful mature gardens provide intimacy & privacy, prime corner lot 83.5×51(4258sq ft)+ easement makes a total lot of (5800sq ft). Open parking, walking distance to transit, schools, shopping & parks. Move-in and Enjoy!

12) Tsawwassen – $849,900

5096 DENNISON DR, Tsawwassen Central, Tsawwassen
V931931

Wonderful family home with room to grow. Enjoy this spacious 5 bedroom, 4 bathroom family home with room to spread out and have your own piece of paradise … Relax in the south facing back yard with new deck and hot tub. Grow your favorite herbs and veggies in the custom garden plots all for your comfort and enjoyment. All the renovations were done with permits and great updates with granite counters and updated bathrooms. This cosy, warm and friendly house has room for your home office with elegant french doors, a true gem. Walking distance to the high school and sports fields, centrally located and a bonus with plenty of storage.

13) Ladner – $814,900

4972 59TH ST, Hawthorne, Ladner
V917978

If you are looking for a great 4 bedroom family home on a quiet street….look no further! On the main floor you have the perfect floor plan for entertaining as you have a large family room off the kitchen/eating area. You will also love the radiant heating on both floors. The well layed out kitchen features granite countertops,stainless steel appliances (gas stove) and has plenty of cabinets for storage. In addition you have separate living and dining rooms. On the upper floor, you have 3 nice sized bedrooms along with a spacious master bedroom. The master also has a large walk in closet, full ensuite (separate shower/soaker tub) and a private balcony. Call today to book your private showing.

14) North Surrey – $739,000

15911 107A AV, Fraser Heights, North Surrey
F1208781

Beautiful corner lot property in a highly desired location with lots of upgrades inside out. It features a great layout with hardwood and granite flooring and a wook kitchen. Close to schools parks and public transportation.

15) Langley – $699,000

8098 210TH ST, Willoughby Heights, Langley
F1201300

Yorkson 4312 FT BIG LOT with 4272 SF of fab. living incl. a stunning 2 or 3 Bedroom Legal Suite! Shop the neighborhood and then come visit your future home. There is NO comparable anywhere near what this Executive Home has to offer! The Cabinetry and solid granite counters alone will simply amaze you, even before you step into the huge, ultra lux M.Bedroom with coffered ceiling, rain shower Bath & every bedroom has an Ensuite. The Media Room features a huge Wet-Bar & Powder Room so that you can stay hiding away for days on end! Just wait until you step onto the most unique Patio Deck c/w Gas F/p & a place for your Flat Screen TV to watch the game outdoors! Located only steps from new Elem. School & blks from Events Centre. HURRY!

16) Surrey – $699,000

6295 147B ST, Sullivan Station, Surrey
F1207861

Welcome to this brand new Executive home in a fabulous neighborhood in Sullivan Station, close to schools, transit, YMCA, restaurants and shopping center. This home features spiral staircase, high ceilings in living and dining with a gas fireplace, along with a den in the entrance which is ideal for home office. Cooking is pleasure in beautiful kitchen w/granite counters & a spice kitchen. Family room has built-in entertainment unit overlooking sundeck & fully fenced yard. Upstairs has 4 bedrooms, the master has a spa like ensuite with a walk-in closet. The fully finished basement has (2+1) bedrooms with its own separate entrance. A must see. HST Included.

17) Squamish – $688,000

1743 HARRIS RD, Squamish
V942118

Invest in this massive 8 bedroom and den home and let your mortgage be covered with main home being rented for $1800 monthly and 2 separate basement suites rented at $700 and $800. This house is just a block away from public transport and school bus picks up kids right from house front for school. Just minutes away from shopping, Quest & Capilano University (Squamish Branch), has stunning views of mountains and greenery with nice backyard. One great investment not to be missed.

18) Cloverdale – $665,000

18146 70A AV, Cloverdale BC, Cloverdale
F1209622

Fabulous ” GREAT ROOM” plan with brand new rich hardwood flooring throughout the main level. Gourmet kitchen with dark cherry wood cabinets, granite counters, all new updated stainless steel appliances, and a huge island perfect for entertaining. Large master with deluxe ensuite, 3 good size bedrooms, 4 piece bath, and open area for computer or play area complete the upstairs. Lower level awaits your idea’s with a separate entrance very easily made into a 2 bedroom suite. This home is just like brand new without the HST. Vacant and ready to go. Call today for your viewing.

19) North Delta – $649,000

11240 86TH AV, Annieville, North Delta
F1207648

FAMILY HOME – Two-Storey plus full unfinished basement in North Delta with fantastic floor plan and big potential. Gourmet kitchen, formal living and dining rooms, 4 upstairs bedrooms and study area, 2 full, 2 half baths and large living spaces. Fresh paint, new carpets & blinds, updated appliances, kitchen counter tops, new gutters (Roof is 50 year tile). Short walk to schools, transit & shops. Move in and enjoy!

20) Port Coquitlam – $649,000

1657 PITT RIVER RD, Lower Mary Hill, Port Coquitlam
V942255

Mountain view. Open floor plan with 3 bedrooms up. Kitchen with maple cabinets and granite countertops. Exclusive use of slate, tile and pot-lights. Unfinished daylight basement with separate entry. Close to elementary school.

21) Sunshine Coast – $649,000

830 BAYVIEW HT, Gibsons, Sunshine Coast
V931792

Beautiful 2 storey ocean view home located in desirable Lower Gibsons. The lovely outside living areas feature stamped concrete south facing sundeck, covered deck in the backyard with gas barbecue hook up, fully fenced yard and a stamped concrete driveway. Inside features include hardwood floors, slate entrance areas, vaulted ceilings, large master bedroom with ensuite and walk-in closet, natural gas fireplace with custom wood mantle, 2.5 bathrooms and a heat pump for comfort in both hot and cold weather. This home offers an open concept plan with great space for entertaining. This is a classy but functional home waiting for you to enjoy.

22) Pitt Meadows – $625,800

19293 STREAMSTONE WK, South Meadows, Pitt Meadows
V889859

Fieldstone Park! New Bsmt Home! Terrific location. Private rear lot w/low maintenance, great, view/over greenbelt/future park, top quality details & craftsmanship. Spacious plan, city building inspect favorite. Impressive four level foyer view. Bright great room, gourmet kitchen w/eating bar, large master 5 pce ensuite w/lge soaker & walk-in closet. Large media/bdr room, open den off foyer, part bsmt awaits your ideas. Close to all amenities & walk to westcoast express, only 3 mins drive beyond Burke Mtn (via Maryhill) get more for a lot less, limited HST discount, 2-5-10 yr warranty, irreplaceable pricing ready to move in.

23) Maple Ridge – $584,900

10153 241ST ST, Albion, Maple Ridge
V918157

“Mainstone Creek” The Pine Plan features 3 bedrooms, full unfinished daylight basement, Maple Kitchen with Granite Countertops, Walk-in Closet, Computer Desk, Low-E Windows, Fire Protection Sprinkler System, Stainless Steel Appliances, Blinds, Unfinished Daylight Basement, 10 Year Warranty. Call for your private showing!

24) Abbotsford – $584,900

27866 MACLURE RD, Aberdeen, Abbotsford
F1125759

5 bedroom, 3 1/2 bath with finished walk out basement. Great room with gas fireplace, spacious kitchen and eating area, main floor den off large front foyer, covered patio off dining area, main floor laundry. 4 good sized bedrooms and 2 full baths on second floor, full 2 car garage plus 10×8’6 work area, full walk out basement. Quiet cul-de-sac, lot backs onto green space, located in off Lefeuver road in West Abbotsford, net HST included in price. A great family home ready in the new year.

25) Chilliwack – $559,900

206 1ST AV, Cultus Lake, Chilliwack
H1102070

Live year round at Cultus Lake! Fantastic modern upscale home located just steps from the beach. The main floor boasts a gourmet kitchen with tile flooring and gorgeous cabinets, dining room and spacious warm living room with access to the sundeck. Upstairs includes three bedrooms including a beautiful master bedroom suite with it’s own private sundeck! Self contained 1 bedroom guest suite down. Front and back access to the home and a park across the street, no fishbowl here. Absolutely spectacular views of Cultus Lake and surrounding mountains. Quiet neighbourhood of upscale homes. Close to shopping and many activities including golf, waterslides, trails, parks, swimming, boating and more!

26) Mission – $482,900

33134 TUNBRIDGE AV, Mission BC, Mission
F1127788

Spacious 2 storey with basement home featuring detached double garage and legal 2 bedroom suite! Stunning main floor with spacious great room concept, elegant kitchen with centre island and granite countertops, dining room and large den! Laundry and 4 bedrooms upstairs, oversized Master enjoys huge walk-in closet and lavish tiled ensuite! Large 2 bedroom suite in basement with own laundry, lane access and detached double garage, HST included in price if owner occupied.

27) Kent – $379,900

2021 MCCAFFREY RD, Agassiz, Kent
H1102382

ABERDEEN VILLAGE, the “AMBER” 2 bedroom plus den and loft. Open kitchen great room plan on large freehold lot with geothermal heating and air conditioning. The show home is staged, come out to Agassiz and take a look!

28) Hope – $325,000

360 FERRY LANDING PL, Hope Center, Hope and Region
H1200446

Extensive quality renovations highlight this large family home in great Hope location. Only short walk to schools, town, rivers, and golf. Private large lot on cul-de-sac street with close access to Fraser River shoreline. Home features massive kitchen area with updated cabinets, large family room, newly built BBQ deck, wood stove and fireplace, hardwood floors, 3 bathrooms and five bedrooms. Good sized fenced yard and gorgeous mountain views. This one has it all.

Price Changing Champions – April 26, 2012

This report is pretty much for entertainment value and the idea came from a comment made by “Jack” when he let me know about a home that had changed priced at least 7 times. Unfortunately my info only goes back to March 9 so I only had 1 price movement for the home but I wondered how many listings have changed numerous times in just 6 weeks and that thought has now led to the Price Changing Champions. Currently we’re at a 15 with an amazing 4 price changes in 6 weeks but I wonder how long it will be before we have a property that has been adjusted 10 or more times? I’ll put my guess in as the first week of September, 2012. These properties all have 4 price changes but I am ordering based on least amount of price change in % starting with #1 which is now listed for more than it was originally! Got to love optimism.

#1) Address:7183 6TH ST, Burnaby Lake, Burnaby

March 09 V918999 $765000 $0 0%
March 13 V918999 removed
March 16 V937422 $788000 $23000 -3%
March 17 V937422 $749900 -$15100 2%
March 22 V937422 $765000 $0 0%
April 14 V937422 $799900 $34900 -5%

Property isn’t selling, ok let’s remove the listing and put back up 3 days later at a higher price but make sure we put some 8’s in there.  No sales after 1 day, ok let’s drop it $40K.  No takers?  Hmmm… ok, let’s raise it back up to the original price.  Man, still nothing, really, what do I have to do to sell this place???  Ok, 9’s are the new 8’s so let’s bump it up to the highest price yet and see how that goes.

Assessment: $641,000

Great quality 5 bedroom home in excellent QUIET neighbourhood. Close to one of best schools, sky-train, bus, shopping malls, swimming pool, Robert Burnaby Park and SFU University. Open floor plan 9′ ceiling, big living and separate family room plus big 5 bedrooms. Private settings, back and front yard fenced. Detached garage plus two parking in front and one back. All sizes approx, Buyer to verify.


 

#2) Address:27071 116TH AV, Thornhill, Maple Ridge

March 09 V932938 $598800 $0 0%
March 13 V932938 $591000 -$7800 1%
March 21 V932938 $589000 -$9800 2%
March 28 V932938 $584000 -$14800 2%
April 04 V932938 $579000 -$19800 3%

Assessment: $502,000 and sold Jan 27/2011 for $395,000

Greenbelt Acre with 3000 sqft 4 (or 5 plus) bedroom home. Home has just finished a renovation and shows very well: new large kitchen, 4 new bathrooms, new laminate and slate flooring, new doors, new paint, newer roof and windows, open floorplan but lots of room for the kids to get away. Games room with bar could easily be converted into a suite should the need arise. Land backs onto Kanaka Creek Greenbelt and is located on a no through street. Home is move-in ready.


 

#3) Address:19655 SOMERSET DR, Mid Meadows, Pitt Meadows

March 09 V932963 $644900 $0 0%
March 17 V932963 $639900 -$5000 1%
April 09 V932963 $634900 -$10000 2%
April 11 V932963 $629900 -$15000 2%
April 19 V932963 $624900 -$20000 3%

Assessment: $554,000

Wonderful 2 storey home w/fully finished bsmnt in popular “Somerset”. Brand new vinyl low E & laminated glass windows & sliding doors thruout. The grand foyer welcomes you into sunken living room with vaulted ceilings, paladian feature window with California shutters & new efficient valour fireplace. The formal dining room looks onto a large deck with new daylight deck cover. Sunny kitchen with oak cabinets & family room with new designer gas fireplace and sliders to a private, fenced backyard. Elegant curved staircase leads to a huge master bedroom, ensuite with soaker tub & separate shower. Three additional bedrooms upstairs are bright with lots of windows. Fully finished basement with new blown in insulation & features cozy games + media room. Roof was replaced in 2007 and a heat pump keeps you cool in the summer. New insulated garage doors. Over $40K in reno’s! Close to all schools, shopping, bridge & Westcoast Express but NOT near the tracks! Great street appeal! Shows well.


 

#4) Address:# 203 8451 WESTMINSTER HY, Brighouse, Richmond

March 09 V929415 $267500 $0 0%
March 21 V929415 $265800 -$1700 1%
March 28 V929415 $265500 -$2000 1%
April 11 V929415 removed
April 14 V943170 $262000 -$5500 2%
April 24 V943170 $258000 -$9500 4%

Assessment: $256,800

Investor Delight! Rentals OK. No rental maximum. Or, your Perfect First Home! Peaceful setting! SUNNY 2BD 1.5 Bath w/ pleasant SOUTH & EAST outlook. Tranquil. Away from traffic noise. INSUITE LAUNDRY. Storage can be den or computer station.JUMBO MASTERBEDROOM. JUMBO DECK. Secure Parking w/ BRAND NEW GATE. Super well-managed. Live-in Caretaker. Strata fee includes Heat/Hot Water/use of Swimming Pool. New Laminate Floor/New Bedroom Carpet/ New Kitchen Counter. Set between Rmd Centre & Lansdowne Mall. Step out your front door & EAT/SHOP/PLAY. Walk to Price Smart Supermarket/Superstores/Zellers/Skytrain/Starbucks/Minoru Park/Aquatic Ctr/Kwantlen College. Click View Multimedia for Tours/Floor Plan. Rent can cover monthly payments.


 

#5) Address:# 108 3583 CROWLEY DR, Collingwood, Vancouver East

March 09 V930237 $468000 $0 0%
March 28 V930237 $459000 -$9000 2%
April 02 V930237 $449000 -$19000 4%
April 05 V930237 $459000 -$9000 2%
April 14 V930237 $449000 -$19000 4%

Assessment: $466,000

Spacious & bright corner unit facing parks & South. 3 bedrooms + den, 2 baths & 2 underground parkings. Ground floor with 2 entrances. Just walk through your own private gate onto generous size patio into your solarium.New laminated flooring, new paint & doors. Granite breakfast bar. Very functional layout, must view to appreciate. Buyer to verigy measurements. Steps to Joyce Skytrain , parks, tennis , basketball & football courts, comminity centre, bus, school, shops & restaurants. No rentals. Pets allow with restrictions. Quick possession OK. OPEN HOUSE: Apr 28 (Saturday) 2 – 4 pm.


 

#6) Address:# 1005 5989 WALTER GAGE RD, University, Vancouver West

March 09 V922442 $1549000 $0 0%
March 17 V922442 $1520000 -$29000 2%
April 02 V922442 removed
April 04 V941165 $1548000 -$1000 0%
April 09 V941165 $1520000 -$29000 2%
April 18 V941165 $1490000 -$59000 4%

Assessment: $1,283,000

Spectacular sweeping view from ocean to the Northshore Mountains will impress you! Luxury high-end finishing featuring Gorgeous open design. High ceiling, Expansive floor-to-ceiling windows with roller blinds. Engineered hardwood floor in living & dining rooms. Deluxe kitchen cabinetry with granite countertops & top-of-the-line appliances, Sub-Zero Fridge, Miele gas cooktop, wall oven, dishwasher, built-in-coffee machine etc. Fabulous 210 square foot covered balcony overlooking the ocean & mountains. Perfect for al fresco parties. 2 parking. Concierge, Located in prestigious UBC area close to campus, shopping & park. The Ocean View!! View!! View!!


 

#7) Address:12752 114B AV, Bridgeview, North Surrey

March 09 F1202793 $345880 $0 0%
March 21 F1202793 $342880 -$3000 1%
April 03 F1202793 $339900 -$5980 2%
April 16 F1202793 $335880 -$10000 3%
April 26 F1202793 $329900 -$15980 5%

Assessment: $263,400

‘JUST REDUCED’ Recently renovated, bright & spacious 2 bedroom home in quiet, family oriented community. Exterior upgrades include double pane windows, vinyl & cedar siding, trim, soffits, gutters, front porch, rear decks etc. Interior upgrades include kitchen, bathroom, carpet, flooring, paint, moldings and trim, lighting, window coverings, HW tank, fridge etc. Southern exposed backyard. Carport & large detached fixable garage with power & lights. Conveniently located close to newer elementary school, waterpark, transit, commuter routes, amenities etc. Lots of work done. Loads of character and charm. Move in ready. Quick possession possible. Bring All Offers.


 

#8) Address:# 208 5388 GRIMMER ST, Metrotown, Burnaby

March 09 V927330 $304900 $0 0%
March 13 V927330 $299900 -$5000 2%
March 29 V927330 removed
March 31 V940335 $294900 -$10000 3%
April 13 V940335 $291000 -$13900 5%
April 17 V940335 $287000 -$17900 6%

Assessment: $248,200

The PHOENIX – Brand NEW ready to move in. HST Paid. Quiet END unit with mountain view located in Metrotown area. Open concept layout with 9 ceilings. Finishings include granite countertops, undermount cabinet lighting, S/S appliances, laminate flooring, insuite laundry. 1 parking & 1 storage. Just a short walk to the skytrain, 20 minutes to DT or 2 minutes to Metrotown, next to Fitness World & close to shopping & restaurants. 2-5-10 warranty. All sizes & ages are approx. Buyer to verify.


 

#9) Address:# 205 2020 W 12TH AV, Kitsilano, Vancouver West

March 09 V933857 $519900 $0 0%
March 17 V933857 $509900 -$10000 2%
April 04 V933857 $499000 -$20900 4%
April 11 V933857 removed
April 16 V943536 $499900 -$20000 4%
April 25 V943536 $485000 -$34900 7%

Assessment: $465,000

Introducing 2020! Designed by Award-winning David Nicolay from Evoke Designs. This 1BR + Den + Flex has an ideal floor plan with no wasted space. Kitchen features plenty of cabinetry, CaesarStone Quartz counters, Blomberg, Bosch and Fisher & Paykel Energy Star appliances. Hardwood flooring throughout,with a large walk in closet leading to bathroom. Bathroom includes deep soaker tub, Hans Grohe fixtures and mosaic tiled wall. Call for an appointment today.


 

#10) Address:7078 177A ST, Cloverdale BC, Cloverdale

March 09 F1203874 $639000 $0 0%
March 28 F1203874 $626000 -$13000 2%
April 13 F1203874 $609900 -$29100 5%
April 20 F1203874 $598000 -$41000 6%
April 26 F1203874 $585000 -$54000 8%

Assessment: $641,000

Saddlecreek at Provinceton. This 2 storey with basement home has an open kitchen and dining area and a bonus multi room that would be perfect for a home office. Master bedroom with vaulted ceilings, a 5pc ensuite and a large walk-in closet. Unfinished basement with separate entry awaiting your ideas.


 

#11) Address:10526 245TH ST, Albion, Maple Ridge

March 09 V932634 $599900 $0 0%
March 13 V932634 $584900 -$15000 3%
March 29 V932634 $579900 -$20000 3%
April 17 V932634 $569900 -$30000 5%
April 24 V932634 $549900 -$50000 8%

Assessment: $555,000

Rare 8131 sq ft lot – zoning will allow for a legal 2 bdrm suite – Well maintained – nicely decorated home with triple garage – 9 ft ceilings. Kitchen has island. pantry, eating area. family room leads to a very large – recently extended partially covered cedar deck. Vaulted ceilings in master bdrm & living room – Basement has finished den and remainder awaits your ideas.


 

#12) Address:15043 19A AV, Sunnyside Park Surrey, White Rock

March 09 F1203774 $697500 $0 0%
March 16 F1203774 $679500 -$18000 3%
March 21 F1203774 $668800 -$28700 4%
March 31 F1203774 $648928 -$48572 7%
April 18 F1203774 $638850 -$58650 8%

Assessment: $618,000

Priced to move Southmere. Renovated 1300 sq. ft. plus sunroom, 3 bedroom and 2 bath rancher features renovated asphalt roof, freshly painted cedar siding, 2 new garage doors and motors, California shutters, great room river rock fireplace, extensive reclaimed 1′ hardwood flooring, all new maple cabinets, granite counters and under mount sinks in kitchen and both baths, stainless appliances, designer colors, high baseboards and moldings. 6121 sq. ft. lot, private and maturely landscaped sunny north/west rear garden, cedar deck plus sunroom or art room in a quiet cul de sac. Walk to Semiahmoo Mall, Softball City, Thrift and Semiahmoo Schools.


 

#13) Address:5638 CROWN ST, Dunbar, Vancouver West

March 09 V934064 $2398000 $0 0%
March 13 V934064 $2298000 -$100000 4%
April 04 V934064 $2248000 -$150000 6%
April 13 V934064 $2198000 -$200000 8%
April 23 V934064 removed
April 25 V945487 $2150000 -$248000 10%

Assessment: $2,095,900

TERRIFIC LOCATION west of Dunbar & north of 41st Ave. Level 66 x 117.5 lot. RS-5 allows approximately 5400 sq ft of new construction. Sunny & private back garden. Easy transit and cycling access to UBC, Crofton & St. Georges. Rent out the cozy 3 bdrm bungalow while you plan a dream home. Now’s the time to make a decision on this Dunbar neighbourhood that is hard to beat for family living.


 

#14) Address:# 910 251 E 7TH ST, Mount Pleasant, Vancouver East

March 12 V936641 $539000 $0 0%
March 17 V936641 $529000 -$10000 2%
March 22 V936641 $519000 -$20000 4%
April 04 V936641 $499000 -$40000 7%
April 12 V936641 $479000 -$60000 11%

Assessment: Brand New

All about the view! 2 bedroom with an amazing view of Vancouver, parking and storage! Brand New Condo situated in the up and coming Mount Pleasant neighbourhood. Hardwood floor, stainless appliances, stone countertops and a patio make up some of the condos features. OPEN HOUSE SATURDAY, APRIL 28 from 2 to 4


 

#15) Address:# 405 22290 NORTH AV, West Central, Maple Ridge

March 23 V938841 $199000 $0 0%
March 31 V938841 $189000 -$10000 5%
April 05 V938841 $179000 -$20000 10%
April 14 V938841 $174000 -$25000 13%
April 24 V938841 $169000 -$30000 15%

Assessment: $186,000

BLOWOUT SALE. BELOW B.C.ASSESSMENT ($186,000). Amazing one bedroom unit in immaculate condition at the highest level of SOLO building. This unit shows so well that it is hard to guess it has ever been occupied. It comes with an oversized balcony facing East for the best of the morning sunrise. It boasts beautiful tile and high end laminate flooring, Granite countertop, Whirlpool stainless seel appliances, Built-in Microwave, high vaulted ceiling, … Just a 5 minute short walk to the West Coast Express and the Haney Wharf. Walk distance to Maple Ridge Centre for restaurants, recreation facilities and lots of shopping. ORIGINALLY SOLD FOR $214,900.


Recycling April 25, 2012

Another trend I have been seeing is that a huge number of “new” listings are simply recycled listings that have been previously pulled. Often this is accompanied with a large price drop as the sellers initial hopes of winning a lottery end up failing. Rather than drop the price on the listing they instead take the listing down and then relist a short while later to attract new attention to the home.

This chart shows the % of new listings from the past week in each area that have been recycled and previously listed within the last 6 weeks under a different MLS Number.  Looking at the results, this seems like a pretty good indicator of gauging overall selling conditions in each area.

Area New Listings Recycled Pct
Squamish 21 6 28.6%
West Vancouver 55 14 25.5%
Vancouver West 275 68 24.7%
Richmond 220 49 22.3%
White Rock 129 26 20.2%
Chilliwack 20 4 20.0%
Coquitlam 107 20 18.7%
Port Moody 27 5 18.5%
Pitt Meadows 17 3 17.6%
Burnaby 171 30 17.5%
Maple Ridge 73 11 15.1%
Port Coquitlam 40 6 15.0%
Abbotsford 115 17 14.8%
Mission 43 6 14.0%
Cloverdale 71 9 12.7%
Langley 152 19 12.5%
Vancouver East 144 18 12.5%
Surrey 164 20 12.2%
New Westminster 61 7 11.5%
Whistler Pemberton 27 3 11.1%
Sunshine Coast 49 5 10.2%
North Delta 34 3 8.8%
North Surrey 108 8 7.4%
North Vancouver 108 8 7.4%
Tsawwassen 14 1 7.1%
Hope and Region 16 1 6.3%
Kent 12 0 0.0%
Ladner 8 0 0.0%

Drops by Area – April 24, 2012

Another metric I will be tracking for each area is the % of listings that have been reduced. Higher numbers here could indicate over pricing by sellers, too much supply and or not enough demand or possibly an advanced indicator of areas that will be the hardest hit. I’ll supply the information and you can draw your own conclusions

Once again please note that the data only includes listings since March 9th, 2012 so the real numbers of homes that have been reduced are higher than shown here.  Also note that homes that get pulled from the listings only to be relisted under a different MLS number a short while later are in fact being tracked in these numbers and in the Drop of the Week.  I’m going off of address, not MLS number to ensure these are accounted for.

Region # Listings 5%+ Drop 10%+ Drop 5%+ Drop% 10%+ Drop%
West Vancouver 627 66 15 10.5% 2.4%
Chilliwack 153 14 2 9.2% 1.3%
Sunshine Coast 1094 84 32 7.7% 2.9%
Vancouver West 3184 229 45 7.2% 1.4%
Whistler Pemberton 818 58 17 7.1% 2.1%
White Rock 1428 96 14 6.7% 1.0%
Richmond 2463 150 19 6.1% 0.8%
New Westminster 605 36 5 6.0% 0.8%
Mission 715 41 11 5.7% 1.5%
Squamish 393 22 4 5.6% 1.0%
Vancouver East 1261 71 11 5.6% 0.9%
Abbotsford 1424 76 19 5.3% 1.3%
North Vancouver 923 49 11 5.3% 1.2%
Hope and Region 174 9 2 5.2% 1.1%
Burnaby 1665 87 9 5.2% 0.5%
Pitt Meadows 155 7 2 4.5% 1.3%
Port Coquitlam 416 18 3 4.3% 0.7%
North Surrey 1050 42 11 4.0% 1.0%
Maple Ridge 1019 40 6 3.9% 0.6%
Coquitlam 1019 40 5 3.9% 0.5%
Langley 1444 50 9 3.5% 0.6%
North Delta 254 9 0 3.5% 0.0%
Tsawwassen 180 6 0 3.3% 0.0%
Cloverdale 643 20 4 3.1% 0.6%
Kent 161 5 0 3.1% 0.0%
Ladner 130 4 0 3.1% 0.0%
Port Moody 361 11 2 3.0% 0.6%
Surrey 1554 27 3 1.7% 0.2%