Vancouver Price Drop

Documenting Vancouver real estate price movements

North Vancouver Spotlight – May 24, 2012

North Vancouver sales have been brisk for properties that have been priced well especially in areas around Edgemont Village but there is a massive amount of new, fairly high end construction going on in that area which could make for some interesting times in 6 to 9 months

#1) Address:967 ROSLYN BV, Dollarton, North Vancouver

March 09 V933878 $3,750,000 $0 0%
March 28 V933878 $3,690,000 $-60,000 -2%
April 18 V933878 $3,288,000 $-462,000 -12%
May 16 V933878 $2,980,000 $-770,000 -21%

Assessment: $1,840,000

Spectacular Westcoast contemporary 5000 SF luxury home in seldom available Deep Cove, Dollarton area. Features incl 7 large bdrms, 6 baths & 2 laundry rooms. Top floor incl 5 bdrms & 3 full baths. The master has a huge ensuite with soaker tub, walk in closet & balcony, features vaulted ceiling, indoor water fall & exceptionally bright with oversize windows facing ocean. The gourmet kitchen is equipped with high end S/S appls, 2 sinks & granite counters. A massive granite island completes this custom designed space. Main flr features a prof theatre room, office & high end 2 bdrm legal suite. The home boasts an attached triple car garage, I/G salt water pool & hot tub. All surrounded by palm trees, water falls & poolside F/P. Walk to school etc. Open House Sunday, April 29th, 3-4:30pm

#2) Address:# 207 1515 CHESTERFIELD AV, Central Lonsdale, North Vancouver

March 14 V936787 $269,900 $0 0%
April 11 V936787 $249,900 $-20,000 -7%
April 24 V936787 $234,900 $-35,000 -13%
May 09 V936787 $224,900 $-45,000 -17%

Ouch…  60K below assessment and counting

Assessment: $283,900

Super large 1 bedroom (829 sq. ft.) in the heart of Central Lonsdale. Northwest facing wrap around balcony on the quiet side of the building is perfect for the summer evenings. Updated kitchen and bathroom as well.Super location close to everything you can imagine, shopping, restaurants, banking, medical, parks etc……

#3) Address:1401 DEMPSEY RD, Lynn Valley, North Vancouver

March 09 V931319 $2,080,000 $0 0%
March 28 V931319 $1,930,000 $-150,000 -7%
April 23 V931319 removed
May 02 V946853 $1,749,000 $-331,000 -16%

Assessment: $1,349,000  (Property has more than one structure; Property Details are for main building only)

Beautiful heritage home on an acre in Lynn Valley! This gorgeous, completely renovated house has it all. The charm & character of a 1913 heritage home with all of the modern conveniences. High end eat in kitchen, luxurious master suite, huge family room opening onto the completely private acre backyard. They don’t build them like this anymore more. This is a once in a lifetime opportunity to own one of the most stunning properties on the north shore. Don’t miss your chance to call this exceptional place ‘home.’

#4) Address:750 FORSMAN AV, Lynnmour, North Vancouver

March 09 V878754 $1,658,000 $0 0%
March 13 V878754 $1,388,000 $-270,000 -16%

Assessment: $676,800

Attention Blders! This 9,333 sq.f. corner property permit triplex & 3-storey townhome at 0.7 FSR Dist.of North Vanc.Official Community Plan or 0,8 FSR by approval. Adjacent 1562 Keith Rd. is avail MLS V904916 combined total 18,476 sq.f. Personal insentive to agent with acceptable offer before Sept 15,2011. Cul de sac, Towering cedars are buffer to roadway,Recreation. Greenbelt, Equestrian centre, Lynn Creek, Seymour River, multiple Parks, dog walking Trails, Schools, University, Super Shopping, Theatre, Restaurants, etc. Excellent bus service. Fastest access to Greater Vancouver from the North Shore. Vendor motivated. Full view from streets. Do not disturb occupants.

#5) Address:3158 PRINCESS AV, Princess Park, North Vancouver

May 04 V947641 $1,188,000 $0 0%
Open House: May 20
May 23 V947641 $998,000 $-190,000 -16%
Open House: May 27

Assessment: $849,900

Solid two storey with nice curb appeal located in a family friendly neighbourhood with a panoramic view of Lynn Valley from the rear deck. Large manicured lot. Original owners. Needs some TLC but can be a wonderful family home with carport, outside storage attached to the carport and workshop in the basement area. Call for a viewing at your convenience.

#6) Address:4352 STARLIGHT WY, Upper Delbrook, North Vancouver

March 09 V929797 $1,638,000 $0 0%
March 15 V929797 removed
March 17 V937773 $1,598,000 $-40,000 -2%
April 14 V937773 $1,499,000 $-139,000 -8%
May 12 V937773 $1,389,000 $-249,000 -15%
May 15 V937773 removed
May 19 V951277 $1,389,000 $-249,000 -15%
Open House: May 27

Assessment: $1,271,000

Upper Delbrook, amazing views, huge 10,500 sq/ft lot, move in & enjoy this renovated home or plan the home of your dreams!! Don’t let the simple clean exterior fool you, almost 4000 sq/ft. Great floor plan for entertainingwith spacious deck off living room & a private deck off family room/eating area opening to quiet backyard. 6 bedrooms in total, 4 baths, 3 F/P, main has 4 bedrooms, master ensuite has soaker tub, glass shower, double sinks, heated floor, walk in closet & sliding doors to deck with city views. Hardwood floors throughout, all improvements made in the last few years. Newer kitchen with granite counters, maple cabinets, breakfast bar, lower leel has legal 2 bedroom suite.

#7) Address:2888 PANORAMA DR, Deep Cove, North Vancouver

March 09 V892989 $12,998,000 $0 0%
April 24 V892989 $10,998,000 $-2,000,000 -15%

Assessment: $5,947,000

This magnificent WF estate on over 1/2 acre above Indian Arm’s most dramatic cliff & rock formations. This res is wrapped in 270 degrees of coastline vws. Exquisitely crafted, taking 6 painstaking yrs to perfect offering 12,922 sqft w/milled beams, slate roof, crafted w’dwork, natural stone & hardw’ds, vaulted ceilings, timber & steel beam constr, stone FP’s, Chef’s kit w/breakfast bar, EA, adj FR, grand DR priv study. Kids paradise down w/custom I/D bsketb’ll ct, state-of-the-art theatre, fabulous billiard rm w/wet bar, games rm w/professional dart board & air hockey arena. Most incredible hidden passage to a Old World wine cellar & guest accomm. BBQ centre, manicured lawns/gardens & OD F/P. A stunning work of art!

#8) Address:528 W 25TH ST, Upper Lonsdale, North Vancouver

April 16 V943676 $1,058,000 $0 0%
May 15 V943676 $898,000 $-160,000 -15%
Open House: May 20
Open House: May 27

Assessment: $771,000

Upper Lonsdale potentially subdividable property on 66 ft x 135 ft lot. Home features a bright and spacious upper floor with 3 bedrooms and 2 bathrooms, living room, dining room, large kitchen with eating area, woodburning fireplace and hardwood floors. The second floor has 2 bedrooms, living room with gas fireplace, full bathroom, bright large kitchen and large laundry room. First time on market (one homeowner). This is a great revenue property in good condition!

#9) Address:# LOT A INDIAN RIVER DR, Indian Arm, North Vancouver

March 09 V914296 $529,000 $0 0%
March 31 V914296 removed
April 20 V944462 $449,900 $-79,100 -15%

Assessment: No Assessment

.43 acre lot perfect for a private luxury estate! Located in a beautiful & serene neighbourhood about 1000′ from the government wharf at the end of Indian River road. Road access: 10 minute drive from Parkgate shopping & Rec centre.139′ frontage on Indian River road, 19,180 sq/ft moderately sloped, great for building & possibility of peak-a-boo views. Check out the potential.

#10) Address:2181 DEEP COVE RD, Deep Cove, North Vancouver

March 09 V924968 $1,490,000 $0 0%
March 29 V924968 removed
March 31 V940332 $1,280,000 $-210,000 -14%

Assessment: $930,000

Stunning Deep Cove renovated home with mountain and water views. Custom built quality home just steps to the shops in Deep Cove. This Entertainers home has hard to find 4 bedrooms upstairs! Large Master suite has a separate tub and shower in this spa inspired ensuite. Open the doors to your private deck where you can enjoy a cup of coffee and watch the sun rise.Three more large bedrooms and another bathroom complete this floor. The main floor boasts a custom kitchen with sub zero appliances and a new cooktop in the island, perfect for the chef in the family. Allow the kitchen gathering to spill outside to the gracious outdoor deck and enjoy the sound of the stream next door. Radiant floors, new windows, designer paint.



8 responses to “North Vancouver Spotlight – May 24, 2012

  1. Village Whisperer May 24, 2012 at 3:55 pm

    Spotlighting the individual cities is awesome idea.

  2. Han May 24, 2012 at 4:27 pm

    Thanks so much for investing your valuable time and expose the unbelievable greed of these sellers and realtors. As potential buyers, with the data you present in this blog, I have been able to convince my wife of not “feeding the greed of these unethical sellers/realtors” and “be the slave for the bank for the rest of my life” : Renting for now looks better and better every day :). Thanks again for all your efforts, and I hope that other potential buyers would smart up and not jump into the wild fire right now.

  3. Vince May 24, 2012 at 9:43 pm

    Thanks alot for collecting these

  4. buffates May 25, 2012 at 7:02 am

    Okay, these are quite shocking… North and West Vancouver homes, list it, wait a month and a half and then lop 2 – 3 million off the asking price. Nothing much, just 2 or 3 million. Most people, could live the rest of their lives on the amount of the first price reduction. Can’t wait until things get really ugly.

  5. Ideasbrewing May 25, 2012 at 10:39 am

    I think many of the initial list prices are so inflated that these drops aren’t a true reflection of the market in general. Unbelieveable. We just sold a week ago & will take our time looking for our new “perfect” home.

  6. Chris May 25, 2012 at 12:51 pm

    Wow! I used to rent #4 about 12 years ago with a group of friends after we finished high school! HAHAHA! We used to joke that we lived in the 3rd most ghetto house in North Van, and #1 and #2 were right across the street from us. Beautiful area (Even though it’s right next to the #1), but the house was an absolute dump then and I can’t even imagine it now. That place should have been torn down from all the shinanigans we pulled off in there. hahaha. At the time, the owner/landlord was an absolute crazy bible-thumper lady with 2 very odd boys (Can’t blame them b/c of how messed their mom was) who are probably in there late teens now. Place sounds like a tear down and $1.4 is just for the land? Good riddance, but a triplex does not suite that area. All nice SFH’s. I hope it doesn’t sell and she gets buuuuuurrrnnnned if she’s still the owner b/c she was the worst landlord I’ve ever had. I think that place was “worth” $400k or $600k when we lived in it, and we paid about $2k a month IIRC for rent back in 2000.

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