Vancouver Price Drop

Documenting Vancouver real estate price movements

Monthly Archives: May 2012

Recycling Stats – May 31, 2012

Here are the latest stats showing how many new listings are actually recycled listings that had been previously pulled.  First 3 columns show April’s new listings, recycled listings and overall percentage followed by the results for May.

Only 4 of the 28 areas had fewer new listings this month and of areas that had at least 100 new listings 18 of 21 had a higher recycling % this month.

Region April May
Richmond 828 177 21.4% 847 232 27.4%
Maple Ridge 273 56 20.5% 365 99 27.1%
Port Moody 139 29 20.9% 145 38 26.2%
West Vancouver 239 51 21.3% 276 72 26.1%
Vancouver West 1333 283 21.2% 1570 389 24.8%
White Rock 494 79 16.0% 533 120 22.5%
Mission 152 31 20.4% 208 44 21.2%
Burnaby 769 136 17.7% 770 162 21.0%
Vancouver East 584 95 16.3% 687 140 20.4%
New Westminster 250 35 14.0% 270 54 20.0%
Port Coquitlam 184 27 14.7% 193 37 19.2%
North Vancouver 472 67 14.2% 517 93 18.0%
Cloverdale 236 30 12.7% 252 44 17.5%
Coquitlam 423 53 12.5% 493 85 17.2%
North Surrey 372 48 12.9% 385 66 17.1%
Langley 513 69 13.5% 546 89 16.3%
Abbotsford 441 79 17.9% 438 70 16.0%
Hope and Region 39 5 12.8% 38 6 15.8%
Surrey 568 77 13.6% 568 84 14.8%
Chilliwack 50 12 24.0% 39 5 12.8%
North Delta 107 10 9.3% 120 15 12.5%
Sunshine Coast 179 24 13.4% 251 31 12.4%
Pitt Meadows 70 13 18.6% 58 6 10.3%
Ladner 50 6 12.0% 60 6 10.0%
Kent 33 7 21.2% 60 6 10.0%
Whistler Pemberton 109 11 10.1% 147 13 8.8%
Tsawwassen 66 6 9.1% 69 6 8.7%
Squamish 90 23 25.6% 128 11 8.6%
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New Price Changing Champion – May 29, 2012

We have a new price changing champion who in a little more than 2 months has changed their price seven times, six drops and one increase, and is now on their 3rd MLS number.  The second entry was highlighted last time as an honourable mention with five drops in five weeks and three already half way through May and now they are up to six drops in seven weeks and four in the month of May.

#1) 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%
May 02 V940335 $283000 -$21900 7%
May 14 V940335 removed
May 17 V950692 $287000 -$17900 6%
May 26 V950692 $279900 -$25000 8%

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. Finishing include granite countertops, undermount cabinet lighting, stainless steel appliances, laminate flooring, insuite laundry. Parking & 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 only. Buyer to verify.


#2) Address:# 125 3 RIALTO CT, Quay, New Westminster

March 31 V940336 $369900 $0 0%
April 12 V940336 $359900 -$10000 3%
April 21 V940336 $350000 -$19900 5%
May 02 V940336 $340000 -$29900 8%
May 12 V940336 $334900 -$35000 9%
May 17 V940336 $329900 -$40000 11%
Open House: May 21
May 24 V940336 removed
May 28 V952824 $328900 -$41000 11%

Assessment: $322,000

The Rialto at the Quay. Lovely, spacious East facing garden apt. 2 bed/2 bath with tons of upgrades(surrounded by lagoon & serene landscaping) Open floor plan great for entertaining. Stunning kitchen with granite back splash & counter tops, stainless steel appliances, new lighting, island with huge pantry for storage, plus breakfast area. Nicely renovated bathrooms. Living room with cozy fireplace in living/dining room. Laminate flooring in living area with tiled flooring in kitchen and bathrooms. Great location. No rentals & pets allowed with restrictions. Walk to Quay market, shuttle bus next door. Open House: Saturday, May 26th & Sunday, May 27th 2-4pm.


The Weekly Drop – May 28, 2012

Here is the latest edition of the Weekly Drop and only two of the properties are listed below assessment although I suspect that in the coming months you’ll see more and more properties listing below assessment.

Update: The #1 listing was actually a different property using the same address so has been removed

 

 

#2) Address:1526 CHARTWELL DR, Chartwell, West Vancouver

April 27 V945860 $3,890,000 $0 0%
May 23 V945860 $2,800,000 $-1,090,000 -28%
Open House: May 26, 27

Assessment: $2,388,000 and sold Feb 7, 2011 for $2,188,000

showing May 25 ,May 26 1:30PM-4:00 PM offer start Monday


#3) Address:13878 30TH AV, Elgin Chantrell, White Rock

March 09 F1204060 $1,788,000 $0 0%
April 18 F1204060 $1,680,000 $-108,000 -6%
May 16 F1204060 removed
May 26 F1213708 $1,339,000 $-449,000 -25%
Open House: May 26

Assessment: $1,292,000

LOCATION, LOCATION! Nestled in a cul-de-sac shared with only one other home. On the edge of a protected forest in West Elgin. As you enter a warm two sided fireplace greets you and beyond that through the large windows all you see is private greenspace. The large master with an exceptional ensuite is on the main floor. Up is a huge games room with separate entrance (great for a nanny or older family member). All bedrooms are a generous size. A custom built home with a great family friendly layout with loads of storage space! A 3 car garage plus lots of extra parking. This is an idyllic location in an excellent neighborhood. Chantrell Creek and Elgin Park school catchments. A stunning property!


#4) Address:8140 SUNNYWOOD DR, Broadmoor, Richmond

March 09 V915995 $1,680,000 $0 0%
May 14 V915995 removed
May 24 V951819 $1,288,000 $-392,000 -23%
Open House: May 27

Assessment: $1,506,000

Solid house nestled in sought-after Sunnymede Subdivision – most exclusive & tranquil neighbourhood. Surrounded by million $$ homes. Centralize location, close to all amenities: school, public transit, shopping malls & recreation center. Beautiful corner & rectangular lot, not to be missed! Live in or bring in your renovations ideas; hold for investment or build later. School catchment – Ferris Elementary & Richmond High. All meas are approx & buyer to verify if important. Open House: Sun, May 27th, 2-4 PM.


#5) Address:2529 264 ST, Otter District, Langley

March 09 F1116719 $1,295,000 $0 0%
May 26 F1116719 $995,000 $-300,000 -23%

Assessment: $737,000

A large family would love this home. Close to all amenities of city yet private with rural feel. 2.37 acres double and single garage. Beautiful Aldergrove rural home. Family custom-built, one owner, set well back from the road with gated entry. Quiet, peaceful, private. Large 2 bdrm unauthorized suite. Custom cabinets throughout, large room, lot of space.


#6) Address:# LOT 1 COSY COVE, Belcarra, Port Moody

March 09 V903884 $390,000 $0 0%
May 02 V903884 removed
May 25 V952163 $299,900 $-90,100 -23%

Assessment: No Assessment Available

Wow! Very rare one plus acre waterfront lot in Balcarra’s Cozy Cove, a development of 10 nature lots. Great western exposure with lots of sunshine and trees. Water access only with possible dock share, but you can hike in on the Jug Island trail – only 20-30 minutes. Great place for an almost in the city wilderness cottage. Not often can you find secluded local waterfront for under $300K.


#7) Address:5540 PARTHENON PL, Eagle Harbour, West Vancouver

March 09 V930920 $2,998,000 $0 0%
April 04 V930920 $2,750,000 $-248,000 -8%
May 02 V930920 $2,498,000 $-500,000 -17%
May 25 V930920 removed
May 28 V952953 $2,349,000 $-649,000 -22%

Assessment: $1,836,000

Enjoy stunning views from this semi-waterfront 4 bedroom family home! This West Coast contemporary home features over 4,000 sq ft of spacious living area on 3 levels, walls of windows and balconies across each floor. Become an exclusive member of ‘P.P.O.A.’ and be a ‘participant owner’ of approximately 1/2 hectare of incredible waterfront property, in addition to this property. This is the only lot of the 15-lot subdivision that touches the private waterfront retreat. Access the property by a private roadway shared with only one neighbour. A great location close to many amenities, the Horseshore Bay ferries and minutes to Eagle Harbour Elementary and Rockridge Secondary!


#8) Address:# 47 3960 CANADA WY, Burnaby Hospital, Burnaby

March 14 V936828 $349,900 $0 0%
March 28 V936828 $328,800 $-21,100 -6%
April 28 V936828 $314,900 $-35,000 -10%
Open House: May 20
May 23 V936828 removed
May 28 V952738 $275,900 $-74,000 -21%

Assessment: $259,200

Beautiful, spacious 1 bedroom corner unit with it’s own private entrance & large patio, rarely becomes available in Lodges in popular Cascade Village. Nicely kept unit.Wood burning fireplace gives a country style feeling to this cozy apartment. Top of the line new appliances, newer hot water tank & in suite laundry. Complex has a very nice recreation facility with indoor pool, weight room, 2 theater rooms & party room looking out to landscaped green area. This kind of unit rarely becomes available.


#9) Address:35021 FISHER PL, Hatzic, Mission

March 09 F1202526 $480,000 $0 0%
April 18 F1202526 $410,000 $-70,000 -15%
May 01 F1202526 removed
May 23 F1213391 $380,000 $-100,000 -21%

Assessment: $452,000

is priced over $70,000 Below Assessed Value and offers immediate possession. 3 Huge Bedrooms up plus Big landing for library/office. Main floor has big family room off kitchen plus sep. living/Dining area. Lots of parking and access tobackyard. Garage almost 34′ Deep with Separate access to full unfinished Bsmt, 2 x 6 const. Shows very well.


#10) Address:7333 BARNET RD, Westridge, Burnaby

April 21 V944674 $999,999 $0 0%
May 05 V944674 $869,900 $-130,099 -13%
May 24 V944674 $795,000 $-204,999 -20%

Assessment: $673,700

Some view.

Langley, Cloverdale and Abbotsford Spotlight, May 26, 2012

Here is the last regional spotlight that I’ll be doing this time around


#1) Address:5848 175TH ST, Cloverdale BC, Cloverdale

March 09 F1204886 $1,600,000 $0 0%
April 04 F1204886 $1,100,000 $-500,000 -31%

Assessment: $506,100

Future development multi family potential in prime location in downtown Cloverdale. Good rental while waiting for rezoning. 15046 sq.ft. lot. All fenced. Check with city for zoning particulars.


#2) Address:6750 232 ST, Salmon River, Langley

March 09 F1125118 $11,250,000 $0 0%
May 17 F1125118 $8,000,000 $-3,250,000 -29%

Assessment: $1,020,495  (Farm land – value set by BC Regulation 411/95)

“Fairmeade Farm” 156 acre, level, cleared & fenced equestrian farm. First time offered, this sprawling ranch occupies the northeast corner of 232 St & 64 Ave with 2,634.48 ft frontage & depth of approx. 2,644 sf. The facility boasts a charming ranch style home, guest house & 3 more caretaker homes. Additional features include tennis court & massive in ground swimming pool. Call for full details.


#3) Address:22940 48TH AV, Salmon River, Langley

March 17 F1206833 $5,800,000 $0 0%
April 14 F1206833 $4,200,000 $-1,600,000 -28%

Assessment: $989,000

Investor Alert! Development potential here. 10.17 acres that are NOT in the ALR, located minutes from Fraser Hwy and not far from the heart of Langley. Currently zoned RU1 with future potential to rezone with OCP amendment. Don’t miss out out on a rare opportunity to own ALR exempt property. Call today to schedule a viewing.


#4) 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. 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!!


#5) Address:2529 264 ST, Otter District, Langley

March 09 F1116719 $1,295,000 $0 0%
May 26 F1116719 $995,000 $-300,000 -23%

Assessment: $737,000

A large family would love this home. Close to all amenities of city yet private with rural feel. 2.37 acres double and single garage. Beautiful Aldergrove rural home. Family custom-built, one owner, set well back from the road with gated entry. Quiet, peaceful, private. Large 2 bdrm unauthorized suite. Custom cabinets throughout, large room, lot of space.


#6) Address:# 220 8915 202ND ST, Walnut Grove, Langley

March 09 F1122374 $329,900 $0 0%
March 26 F1122374 removed
March 28 F1207667 $308,800 $-21,100 -6%
May 12 F1207667 $259,988 $-69,912 -21%

Assessment: $258,000

New Park & Ride to get you around from city to home within walking distance allowing you freedom from a vehicle. Shopping & restaurants at the door step of this modern development in the Heart of Walnut Grove. This unit is found in The Hawthorne, the more desired building within the Thunderbird Village development located away from 88th Ave. Bright, well laid out unit with 2 bdrms/2 baths, laminate & tile flooring for easy cleaning allows for active living all with a modern look in a nearly new building. Your home comes with stainless steel appliances & granite countertops all to give you the best living space and a sense of pride to entertain in. Whether just starting out with your 1st home or downsizing, this unit fills all your needs. Insuite laundry, a storage locker, reasonable maintenance fee which includes hotwater and underground parking, what more could you ask for?


#7) Address:33981 CAR-LIN LN, Central Abbotsford, Abbotsford

March 09 F1203063 $200,000 $0 0%
May 15 F1203063 $160,000 $-40,000 -20%

Assessment: $221,000

Build your own custom dream home on this 8020 sq. ft. vacant lot in the heart of Abbotsford. This is a court order sale and is sold ‘as is where is’. The lot dimensions were taken from the City of Abbotsford maps and it is the responsibility of the buyer to verify.


#8) Address:4179 201A ST, Brookswood, Langley

March 09 F1204349 $729,000 $0 0%
March 13 F1204349 $679,000 $-50,000 -7%
March 28 F1204349 $649,000 $-80,000 -11%
April 20 F1204349 $619,000 $-110,000 -15%
May 11 F1204349 $589,000 $-140,000 -19%

Assessment: $570,000

Brookswood area home on a large level lot, with good curb appeal, and a double garage. Three bedrooms and two bathrooms up, as well as 2 gas fireplaces, a living room and family room. The basement is a 2 bedroom unauthorized suite, with full bathroom.


#9) Address:1268 216TH ST, Campbell Valley, Langley

March 09 F1125911 $3,680,000 $0 0%
March 31 F1125911 removed
April 17 F1209636 $3,380,000 $-300,000 -8%
April 21 F1209636 $2,988,000 $-692,000 -19%

Assessment: $1,190,402 (Farm land – value set by BC Regulation 411/95)

EQUESTRIAN ESTATE – Gated tree lined driveway. Setting a new precedent for country living, this offering is one of the finest estates available today. Featuring a premier address in Campbell Valley and peerless amenities that include an in-ground pool, this approximately 8,825-square-foot estate home is a showcase of acreage and privacy. A dramatic entry through high gates leads to a long private driveway that introduces this residence. The property has 2 Barns, 7 paddocks and has supported up to 30 horses in the past. Grass fields with shelters, fenced and cross-fenced. Inside of this home you get the warm feeling of a perfect family retreat. Come see what this 33.4 acres of privacy has to offer.


#10) Address:34890 GLENN MOUNTAIN DR, Abbotsford East, Abbotsford

March 09 F1204935 $315,000 $0 0%
March 22 F1204935 $299,250 $-15,750 -5%
April 21 F1204935 $284,288 $-30,712 -10%
May 19 F1204935 $255,859 $-59,141 -19%

Assessment: $320,800

Excellent starter / investment opportunity. 2 bedroom, 2 level home in desirable McMillan area. Walking distance to schools, shopping, parks and Abbotsford Recreation Centre. Bright modern kitchen with granite counters and stainless appliances, gas range and hardwood flooring. Updated bathroom, vaulted ceilings and 4 skylights. Detached heated office / workshop / playroom. Private fenced yard with drive through access to back yard. Convenient location close to Highway 1.

Golden Ears Spotlight – May 26, 2012

I’ve combined Maple Ridge, Pitt Meadows and Mission into this Golden Ears region.  If you think price drops are a Richmond / Vancouver West issue then you’d be mistaken.


#1) Address:32921 14TH AV, Mission BC, Mission

March 09 F1128776 $1,450,000 $0 0%
April 16 F1128776 $1,000,000 $-450,000 -31%

Assessment: $442,000

1.47 acre property in central Mission approved for 23 town homes. Complete with drawings, geotech, engineering and site plans. Present zone R558. New zone MT40. Preliminary approval.


#2) Address:9990 240TH ST, Albion, Maple Ridge

March 09 V915091 $1,700,000 $0 0%
May 09 V915091 $1,298,000 $-402,000 -24%

Assessment: $704,000

BUILDER ALERT! Albion Crossing is a proposed fully serviced 16-Unit Townhouse Development site. All approvals are in place. Building permit drawings are ready to submit for city. Entire Development can be built at once or in phases. Prime location close to schools, shopping and transportation. Most units will have a water view of the Fraser River. Don’t miss out! Put in an offer. This will sell fast!


#3) Address:35021 FISHER PL, Hatzic, Mission

March 09 F1202526 $480,000 $0 0%
April 18 F1202526 $410,000 $-70,000 -15%
May 01 F1202526 removed
May 23 F1213391 $380,000 $-100,000 -21%

Assessment: $452,000

is priced over $70,000 Below Assessed Value and offers immediate possession. 3 Huge Bedrooms up plus Big landing for library/office. Main floor has big family room off kitchen plus sep. living/Dining area. Lots of parking and access tobackyard. Garage almost 34′ Deep with Separate access to full unfinished Bsmt, 2 x 6 const. Shows very well.


#4) Address:11442 240TH ST, Cottonwood, Maple Ridge

March 09 V922131 $949,000 $0 0%
March 30 V922131 $749,000 $-200,000 -21%

Assessment: $706,300

5.18 acres bordering the Albion development area. Large flat acreage with many outbuildings. Great hobby farm or hold for future development. House is currently being renovated. Excellent rental possibilities as well.


#5) Address:43593 OHMAN RD, Lake Erock, Mission

March 09 F1120770 $284,900 $0 0%
May 19 F1120770 $229,000 $-55,900 -20%

wow… almost 1/2 the appraised value. This one is a foreclosure and a grow op

Assessment: $445,000

Private 4.94 acres. Split entry home, newer roof. Loads of work to be done yet. Home is in Lake Errock, about 20 minutes east of Mission. Home was a busted grow op, no remediation work has been done. A court order sale, offers are subject to BC Supreme Court approval. See your Realtor for details


#6) Address:4145 UPPER PITT RIVER, North Meadows, Pitt Meadows

March 09 V929520 $249,900 $0 0%
April 21 V929520 $199,900 $-50,000 -20%

Assessment: Not Available

No Picture

4.85 Parklike Acres. Only 3 km from the beach at the North End of Pitt Lake. Road Access from boat launch. Totally flat. Very private. SELLER WILL ENTERTAIN CARRYING FINANCING.


#7) Address:33144 3RD AV, Mission BC, Mission

March 28 F1207688 $219,000 $0 0%
April 18 F1207688 $204,500 $-14,500 -7%
May 03 F1207688 $199,000 $-20,000 -9%
May 23 F1207688 $179,000 $-40,000 -18%

Assessment: $229,600

2 Bdrm Rancher with part bsmt only has outside access -deck. Close to downtown – Backlane access -Gramma’s House. Great starter! Sign on!


#8) Address:13473 BURNS RD, Durieu, Mission

March 23 F1207335 $599,000 $0 0%
April 17 F1207335 $489,000 $-110,000 -18%

Assessment: $467,000 (Property has more than one structure; Property Details are for main building only)

Waterfront!! Your own man made lake! 2 homes! A rare and wonderful property!! Hurry on this one of a kind!!


#9) Address:12320 AINSWORTH ST, Stave Falls, Mission

March 09 F1200684 $1,575,000 $0 0%
March 24 F1200684 $1,299,000 $-276,000 -18%

Assessment: $837,000

True luxury is custom made. Raise your family out in God’s Country or purchase as a small resort/retreat/conference centre. Situated at the top elevation of the property, this post and beam home incorporates local trees, slate floors, heated floors and open beams. Floor to ceiling windows that frame panoramic westerly views. Over 2114 sqft sprawling main floor plan with two enormous rooms that boast vaulted post and beam ceilings upstairs. A chef’s kitchen and expansive entertainers patio with a spot for an outdoor kitchen and hottub. Downstairs offers a huge theatre room, Games room and Wine Cellar area. Wood burning broiler system heats the home and 4 bay garage (36×30). High speed internet and cell service. 50×30 shop, back up generator. The mechanics and quality details of this 5 acre property will impress the most picky buyer.


#10) Address:# 202 20556 113TH AV, Southwest Maple Ridge, Maple Ridge

March 09 V915303 $174,900 $0 0%
April 23 V915303 removed
April 28 V946247 $154,900 $-20,000 -11%
May 26 V946247 $144,900 $-30,000 -17%

Assessment: $171,800

South-facing, very bright unit that is minutes to WestCoast Express, Golden Ears Bridge, Golf Course and bus routes. This unit is perfect for the first-time home buyer. Corner suite with 2 bedrooms/2 baths, lots of light. Close to all amenities. Large living room, kitchen, spacious dining room & extra large insuite laundry. Master bedroom with ensuite. The outdoor area is large covered deck, fenced & gated lawn area & pond. Close to shopping and a few blocks to elementary school.