Vancouver Price Drop

Documenting Vancouver real estate price movements

Richmond Spotlight – May 25, 2012

Richmond was one of the first places to show the sale declines that have now become widespread and that’s reflected in this top 10 since many still have unreasonable expectations.

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



#2) Address:# 910 5911 MINORU BV, Brighouse, Richmond

March 09 V933002 $99,900 $0 0%
May 09 V933002 $66,000 $-33,900 -34%

Assessment: $64,800

Own a great investment in Downtown Richmond! Airport Hilton Hotel. Located in heart of Richmond. Completely managed & operated w/potential income. Units owner could enjoy benefits which include 30 day per year of personal use at 50% discount rate. Free use of hotel exercise facilities, hotel swimming pool, hotel tennis court & 25% discount on food at hotel restaurant, lounge or room service.


#3) Address:# 8 23740 DYKE RD, Hamilton, Richmond

March 09 V867144 $2,527,000 $0 0%
April 28 V867144 removed
May 04 V947680 $1,842,800 $-684,200 -27%

Assessment: New Development

BLUE HERON MARINA ESTATES! New WATERFRONT Detached South Facing Executive Homes with your own concrete dock. As part of Strata Community and Marina, you will have the peace of mind that the Marina services include overseeing your property & boat. Located in the banks of the South Arm Fraser River, in a calm protected channel with deep fresh water moorage. Imagine, living on the water’s edge in your own waterfront home and enjoying the magnificent view of the water and mountains with your own Yacht moored on your own private dock. High end finishing with a elevator in each of 9 homes! Ground flr has very large garage for 4 cars & large Flex area.Maintenance strata fee $ 145.


#4) Address:# 507 5911 MINORU BV, Brighouse, Richmond

March 09 V826361 $89,000 $0 0%
May 01 V826361 $66,000 $-23,000 -26%

Assessment: $58,400

Investors should take note!! A fully furnished hotel suite in the Hilton Vancouver Airport Hotel at the heart of DT Richmond!! Effluent Richmond is the Pacific Gateway to Canada, and with its well-educated and skilled work forces, attracts myriads of mega multi-national business establishments. Hilton Vancouver Airport Hotel is close to YVR International, large shopping malls, schools and university, banking facilities, library, sports centres, and other major Downtown essentials like fine ethnic and gourmet restaurants, fine arts, entertainment attractions, convenient public transportation, and the new Canada Line Rapid Transit System which connects to Downtown Vancouver in a mere 20 minutes or so. This is a good piece of real estate investment with steady return on investment. Seller is motivated, and will look at all reasonable offers. Be part of the clean lifestyle or environmental friendly Richmond. Don’t miss out!!


#5) Address:5035 WILLIAMS RD, Lackner, Richmond

March 09 V930050 $1,589,000 $0 0%
March 26 V930050 removed
March 30 V940047 $1,498,000 $-91,000 -6%
May 08 V940047 removed
May 11 V949356 $1,188,000 $-401,000 -25%

Assessment: $1,138,000 (Building Unfinished at time of assessment)

HST incl for this 3550 SF home (almost $200K savings). 6 bedrooms, 6 baths. 10ft ceilings on main, 9 ft up with 16ft grand living dining. High efficiency boiler/radiant floor system, HRV & A/C. Bosch appliances & granite counters. Kohler & Delta with Riobel in master spa which features 4 jet shower with rain head & steam. Video intercom system window screens & high efficiency bulbs throughout. Sakura hood vents & slow stop drawers in the kitchen. Separate entrance for the 1 bed legal suite as a mortgage helper. Attention to detail make this home sparkle. It is staged to help impress. At this price it won’t last long!


#6) Address:# 2 23740 DYKE RD, Hamilton, Richmond

March 09 V867139 $2,455,000 $0 0%
April 28 V867139 removed
May 04 V947601 $1,863,000 $-592,000 -24%

Assessment: New Development

BLUE HERON MARINA ESTATES! New WATERFRONT Detached South Facing Executive Homes with your own concrete dock. As part of a Strata Community & Marina, you will have the peace of mind that the Marina services include overseeing your property & boat. Located in the banks of the South Arm Fraser River, in a calm protected channel with deep fresh water moorage. Imagine, living on the water’s edge in your own waterfront home and enjoying the magnificent view of the water with your Yacht moored on your own private dock. High end finishing with an elevator in each home! The ground flr has 2 garage for 4 cars & a good size flex area. Maintenance fees are strata $ 135.


#7) Address:# 212 8740 CITATION DR, Brighouse, Richmond

March 09 V928020 $168,800 $0 0%
March 14 V928020 $159,900 $-8,900 -5%
March 15 V928020 $139,900 $-28,900 -17%
April 09 V928020 $130,000 $-38,800 -23%

Assessment: $134,300

Large 1 bedroom, 1 bathroom unit in Chartwell Mews. Beautiful view of inner courtyard with large balcony. Close to public transit and shopping in great complex that offers may amenities.


#8) 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.


#9) Address:7420 RAILWAY AV, Granville, Richmond

March 09 V927736 $1,240,000 $0 0%
March 10 V927736 $1,180,000 $-60,000 -5%
April 11 V927736 removed
April 14 V943141 $1,120,000 $-120,000 -10%
May 17 V943141 $998,000 $-242,000 -20%

Assessment: $1,019,400 (Assessed value only reflects actual not potential use, Assessment Act, s. 19(8))

Close to 10,000 sg.ft lot in excellent West side location. Close to Burnette High School. Build your dream home.


#10) Address:# 5 23740 DYKE RD, Hamilton, Richmond

March 09 V865743 $2,674,000 $0 0%
April 28 V865743 removed
May 04 V947653 $2,155,800 $-518,200 -19%

Assessment: New Development

BLUE HERON MARINA ESTATES! New WATERFRONT Detached South Facing Executive Homes with your own concrete dock. As part of a Strata Community and Marina, you will have peace of mind that the Marina services include overseeing your property & boat. Located in the banks of the South Arm Fraser River, in a calm protected channel with deep fresh water moorage. Imagine, living on the water’s edge in your own waterfront home and enjoying the magnificent view of the water and mountains with your own Yacht moored on your own private dock. High end finishing with an elevator in each of 9 homes! Ground flr has very large garage for 4 cars & large flex area. Maintenance fees $ 141.

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