Vancouver Price Drop

Documenting Vancouver real estate price movements

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%
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9 responses to “Drops by Area – April 24, 2012

  1. Fish10 April 24, 2012 at 10:15 pm

    Very interesting stuff. Many thanks. Surrey at the bottom and West van at the top. Makes sense. Surrey prices are already depressed, whereas I see West Van listings pitching high-balls for the fresh-off-the-flight HAM and then when no one bites taking half a mill off a week later.

  2. Light Bulb April 25, 2012 at 8:39 am

    Great stuff. Keep up the good work.

  3. GentleP April 25, 2012 at 9:16 am

    Thank you for all the effort you put in.

  4. Tak April 25, 2012 at 1:54 pm

    Thank you so much for the excellent work

  5. vangrl April 25, 2012 at 1:58 pm

    thanks! bit surprised Richmond wasn’t higher up the ranking

  6. Fiendish Thingy April 26, 2012 at 9:11 pm

    Great Job! If possible, as stats grow, can they be listed by month and not just grand total since March 9?

  7. Erin April 27, 2012 at 11:45 am

    Great site – thanks for the useful info. Here is a listing in white rock near the beach that has gone from over 1 mil to now $699k.

    MLS F1203337

    • Bad Timing April 29, 2012 at 6:48 pm

      I think this house is right beside a pumping station. Nobody wants to live nextdoor to that smell come summer.

  8. Melanie Richards April 30, 2012 at 2:07 pm

    Great table! Maybe you should add a column comparing # listings from previous years. More listings = more reductions!

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