Vancouver Price Drop

Documenting Vancouver real estate price movements

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.


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24 responses to “Price Changing Champions – April 26, 2012

  1. Makaya April 26, 2012 at 4:30 pm

    Awesome!
    The first one is really hilarious. If I may suggest, on the last column, you should put a “-” before the % numbers. It’s a bit confusing when looking at it the first time.

    For the one in dunbar: -$248K in 1.5 month… ouch!

    • an observer April 27, 2012 at 8:29 am

      It dropped another $150K today so that makes 5 prices drops and likely earned a spot on the next “The Weekly Drop”!

  2. sssss April 26, 2012 at 7:15 pm

    Did #6 go up now?
    MLS®: V943690
    For Sale: $533,929

  3. Derrin April 26, 2012 at 8:42 pm

    nice work!

  4. Yellow Helicopter April 26, 2012 at 10:11 pm

    I adore this blog! Thank you for all your hard work on this.

  5. Basement Suite April 26, 2012 at 10:33 pm

    I love this blog so far, just found tonight. Thanks very much.

  6. kabloona April 26, 2012 at 10:41 pm

    Love the listings, really unbelievable stuff….. keep up the good work.

  7. Jack April 26, 2012 at 10:43 pm

    Nicely done! It really is all for entertainment at this point, isn’t it? Would it be a big deal to add commas to the price column? All those damn zeros…

  8. Ray April 26, 2012 at 11:25 pm

    This is exactly the view needed to every participant for every house in every market in Canada once the competition tribunal gets through with the monopolists. You have my vote to be their senior coder when it gets busted. Thanks.

  9. Pingback: Vancouver Condo Info » Friday Free-for-all! » Vancouver Condo Info

  10. bibi April 27, 2012 at 1:25 am

    I love the work that you have done, please keep it up. It will be a lot more interesting in Sep 2012 when drops will have a lot more zeros!

  11. halfacanuck April 27, 2012 at 3:57 am

    Brilliant. I feel like I have a front-row seat. Popcorn?

  12. Light Bulb April 27, 2012 at 5:17 am

    Excellent info! Each perspective helps focus the bigger picture.

  13. choosehappy April 27, 2012 at 7:00 am

    Garth Turner posted a link to your site, as you probably know. Expect lots of subscribers!!! Great work in helping all of us to put our feet up and watch the melt. Thanks for your efforts.

  14. Carpe Diem April 27, 2012 at 7:20 am

    Thanks … glad I moved out of vancouver a few years ago….

  15. mark April 27, 2012 at 9:26 am

    found your like from garths site. i am now bookmarking your site and will be reading it daily. PLEASE KEEP UP THE GREAT WORK. it puts a smile on my face seeing people lose money

  16. mara April 27, 2012 at 2:10 pm

    Thanks for this! Glad to have the proof the insanity is slowing down and hopefully will stop soon.

  17. Pingback: Vancouver Price Drop |

  18. dunbarfarmer April 29, 2012 at 5:00 pm

    Take a look at the listings for 4268 Wallace (V945495) and 4452 Crown (V935223). I may be wrong as it is hard to tell with all the 9’s and 8’s but I believe both have been lowered by 100K in the last 24 hours.

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