Vancouver Price Drop

Documenting Vancouver real estate price movements

Price Changing Champions – June 12, 2012

The Price Changing Champions are the properties that have had the most number of price changes since early March.  How about #2 with 6 price drops in under 3 weeks for a grand total of $10K!  The first 5 drops were for $500 each including 3 drops in 4 days!!!  I don’t even know what to say…

#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

**Investor & 1st Time Buyer Alert** 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 countertopsUndermount sinks, 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. Pets and Rental Allowed. All sizes & ages are approx only. Buyer to verify.


#2) Address:32181 EAGLE CR, Mission BC, Mission

April 30 F1211029 $299900 $0 0%
May 25 F1211029 $299400 -$500 0%
May 31 F1211029 $298900 -$1000 0%
June 01 F1211029 $298400 -$1500 1%
June 06 F1211029 $297900 -$2000 1%
June 08 F1211029 $297400 -$2500 1%
June 09 F1211029 $289900 -$10000 3%

Assessment: $269,000

Splendid 3 bedroom rancher fully updated for your enjoyment! Sleek new white Euro kitchen with soft close hinges, commercial grade spring-hung faucet, glass & marble tiled backsplash, breakfast bar, all new stainless steel appliances! New designer lighting, new paint, rich dark laminate flooring and new carpeting in bedrooms! Tiled bathroom boasts double sinks, carport with workshop/storage, large private yard, newer furnace and roof, spoil yourself in luxury at an affordable price!


#3) Address:3315 APEX PL, Roche Point, North Vancouver

March 14 V937038 $868800 $0 0%
March 21 V937038 $848000 -$20800 2%
April 05 V937038 $838000 -$30800 4%
April 24 V937038 $834000 -$34800 4%
April 28 V937038 $830000 -$38800 4%
May 04 V937038 $818800 -$50000 6%
Open House: Jun 03
June 06 V937038 $812800 -$56000 6%
Open House: Jun 10

Assessment: $794,000

Contemporary, warm, soulful home for the right family. Bring the kids over. They’ll love the sunny back yard with a trampoline, gazebo with hot tub + a covered deck for extra outdoor space on rainy days. Interior boasts warm welcoming designer colours & features vaulted ceilings, newer upscale kitchen with bay window & adjoining sunken family room, gas range & tile flooring. All this on a kid friendly cul-de-sac. Open House: Sunday, June 10th 2-4pm.


#4) 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%
May 09 F1202793 $325000 -$20880 6%
June 07 F1202793 removed
June 09 F1215057 $314800 -$31080 9%

Assessment: $263,400

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. Conveniently located close to newer elementary school, water-park, transit, commuter routes, amenities etc. Lots of work done. Loads of character and charm. Great investment property/rental/build. Move in ready. Quick possession possible. Bring all offers.


#5) 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%
Open House: Jun 02, 03

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 June 2nd & Sunday June 3rd 2-4pm.


#6) Address:24521 ALOUETTE RD, Websters Corner, Maple Ridge

April 14 V943393 $729000 $0 0%
April 19 V943393 removed
April 25 V945322 $694900 -$34100 5%
May 05 V945322 $674900 -$54100 7%
May 09 V945322 $658000 -$71000 10%
May 15 V945322 $643000 -$86000 12%
May 31 V945322 $623000 -$106000 15%
June 08 V945322 $598000 -$131000 18%

Assessment: $562,000

Private pristine parklike perfection. Your very own 1.5 acre paradise. You are looking at complete privacy. Tucked away with a newer paved circular driveway, Your new home boasts vaulted ceilling, entertainment sized LR, cozy gas f/p and extra family and execise rooms thru french doors. New black granite counters grace the spacious kitchen, French doors lead to the large “outside” deck with wide stairs leading to the garden and creek with a 500 gal. pond with designer fountain. Mstr up with ensuite. Two newer bathrooms. Newer roof and hot water tank. A home to remember. Minutes away from 248th and Dewdney.Substantial additions & renovations in approx 1992.

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4 responses to “Price Changing Champions – June 12, 2012

  1. jr June 12, 2012 at 12:01 pm

    It seems that Maple Ridge will be the one to continue to watch closely. The amount of inventory of unsold new construction and new projects in development there is staggering. While I think many are predicting that things will come apart in Vancouver and work their way outwards, I predict that Maple Ridge will be another epicenter that could potentially really obliterate prices. Expect a lot of layed off construction workers soon.

  2. donald June 12, 2012 at 12:31 pm

    Are price drops the result of a jittery seller or the real estate agent trying some kind of marketing strategy?

    • an observer June 12, 2012 at 12:53 pm

      A bit of both… In the weekly drop a couple of weeks ago one of the realtors commented indicating his strategy worked and he got the sale although at the same time if the sellers received that offer initially they undoubtedly would have refused it since it was way below their initial price.

      When you see multiple smaller drops and lots of open houses you know that there is a higher level of desperation

      • Ray June 13, 2012 at 6:02 pm

        Exactly. This is exactly why a truly transparent market needs this exact level of price history detail. Thank you for doing this, it’s God’s work.

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