Vancouver Price Drop

Documenting Vancouver real estate price movements

Richmond Spotlight – July 22, 2012

Here are the top 10 properties currently listed in Richmond with the largest overall drop in asking price since early March.  I have also created new categories in the category list so that you can find the previous regional spotlights for each region more easily.  This is a work in progress though so will take a little bit before everything is updated

Some Highlights

  • It takes a 23% drop to make this top 10, the same as last month and higher than the 19% from two months ago
  • Brighouse is the top area in the list with 4 listings in the top 10 drops including 3 from the same building!
  • Only 1 unit listed below assessment and it also happens to be listed for over $200K below what the owner paid for it last year.  It has been 7 weeks since it listed at that price!

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.


Address:6140 MARA CR, Granville, Richmond

March 09 V931950 $1,938,000 $0 0%
March 20 V931950 removed
March 22 V938480 $1,879,000 $-59,000 -3%
April 03 V938480 removed
April 25 V945428 $1,897,000 $-41,000 -2%
May 23 V945428 $1,879,000 $-59,000 -3%
June 04 V945428 removed
June 07 V954888 $1,719,000 $-219,000 -11%
June 14 V954888 removed
June 21 V957754 $1,299,000 $-639,000 -33%
Open House: Jun 23
Open House: Jun 24
July 13 V957754 $1,298,000 $-640,000 -33%

Assessment: Building Unfinished at time of Assessment

This 5 bedroom home boasts 6 bathrooms, theatre room, enclosed patio & a grand entrance. It features include 120 inch projector & screen in media room, crystal chandeliers, A/C & HRV, Bosch appls, 10′ ceilings. This custom home has a very unique, functional floor plan. The master features a double jacuzzi & a steam shower with multiple shower heads. A gorgeous home built by reputable builder Heritage Lane HOmes with 2-5-10 yr warranty is a must see. Burnett & Brighouse are the schools in the area. At this price it will not last long, pls call LS now to book your viewing or come Sat or Sun to our Open House. Last accepted offer did not remove financing subjects. All offers presented on Sunday after open house


Address:# 7W2 8191 RIVER RD, West Cambie, Richmond

March 14 V937016 $124,900 $0 0%
April 13 V937016 $114,900 $-10,000 -8%
May 23 V937016 $104,900 $-20,000 -16%
June 22 V937016 $94,900 $-30,000 -24%
Open House: Jun 23
July 19 V937016 $84,900 $-40,000 -32%

Assessment: $83,600

A hidden “WATERFRONT OASIS” in the center of Richmond just steps from the Canada Line. Enjoy life on the river in this cozy 800 sq.ft. one bedroom, 2 bathroom updated float-home. The open concept floor plan boasts a newer kitchen and appliances with updated paint, flooring and baths. Capture the views while relaxing on the rooftop deck or feed the ducks from your doorstep. Imagine…Why rent when you can own your own affordable waterfront home. Monthly moorage fees $710 incl. hydro, water, garbage.


Address:# 217 6420 BUSWELL ST, Brighouse, Richmond

May 05 V947909 $189,900 $0 0%
June 07 V947909 $134,900 $-55,000 -29%

Assessment: No Assessment Available

INVESTORS – this is the perfect apartment as 100% RENTALS ARE ALLOWED. Bright, west facing home with sliding doors to the balcony. Under building parking and storage on the same floor. Maintenance includes management fee, property tax, water, garbage, heat and hot water. Pre-paid lease until 2073. Exceptional location close to shopping, recreation, restuarants and the Canada Line. Immediate possession possible.


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: No Assessment Available

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.


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!!


Address:3560 BARMOND AV, Seafair, Richmond

March 09 V923719 $1,260,000 $0 0%
May 01 V923719 removed
June 02 V953921 $950,000 $-310,000 -25%
Open House: Jun 02

Assessment: $1,029,700 and sold for $1,168,000 Feb, 2011

No Picture

Good location,walk to facilities in few minutes.In the Seafair area,this good home offers 3 good size bedroom plus game room up, living room and dining room & family room down with a very open layout. Don’t miss the chance to live or invest in the best location and neighbourhood of Richmond.


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: No Assessment Available

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.


Address:11760 MELLIS DR, East Cambie, Richmond

April 25 V945449 $2,199,000 $0 0%
May 01 V945449 removed
May 03 V947093 $1,988,000 $-211,000 -10%
May 23 V947093 $1,799,000 $-400,000 -18%
June 04 V947093 removed
June 07 V954891 $1,679,000 $-520,000 -24%

Assessment: $1,532,000

Absolutely beautiful home built by reputable builder Heritage Lane Homes. This home is on a Picture Perfect Tree lined street in one of the nicest neighborhoods of the East Cambie area. Maple cabilnets, top of the line appliances, granite counters, gorgeous finishings throughout This home comes with all the bells and whistles including A/C, HRV system, 120 inch screen with full honme theatre, designer colors with open concept layout. South facing backyard with your very own putting green and 2 sound ptoof suites generating $1500/month. Show with confidence as this is one of the nicest houses in the entire Cambie area and is a stones throw from Vaneouver. Absolutely no showings to Builders pls. Serious buyers only.


Address:# 1107 5911 MINORU BV, Brighouse, Richmond

March 09 V913300 $121,999 $0 0%
March 28 V913300 removed
April 13 V942730 $102,999 $-19,000 -16%
June 19 V942730 $93,900 $-28,099 -23%

Assessment: $73,100

Own a great investment in downtown Richmond. Airport Hilton Hotel, completely managed and operated. Great location, fantastic view from the 11th floor.

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