Vancouver Price Drop

Documenting Vancouver real estate price movements

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.


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4 responses to “New Price Changing Champion – May 29, 2012

  1. Village Whisperer May 29, 2012 at 10:08 am

    And all those changes for only an 8% reduction in price? Such is the emotional nature of real estate. The individual owner is saying to himself, “I cut the price $25,000. $25,000 is a lot of money.”

    The same person will go into The Bay, Sears or Walmart and say… “8% off??? Big f**king deal!” and will walk away without barely glancing at the item for sale.

    I wonder if he will put 2×2 together to understand why no one is looking at his unit for sale?

  2. dg May 29, 2012 at 10:12 am

    And just as a side note two people a day ago were shot dead one block away in a Sushi joint.
    Not a great selling point.

  3. Mike Hunt May 29, 2012 at 1:38 pm

    Bonus: Price Changing Champion!

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