Vancouver Price Drop

Documenting Vancouver real estate price movements

The Weekly Drop – July 23, 2012

Here are the 20 properties that dropped their price the previous week AND have dropped the largest percentage overall from their original asking price.

Here are some highlights:

  • Not quite as many big cumulative drops as last week where we had 28 with 20%+ and 12 with 25%+.  This week we have 15 at 20%+ and 9 at 25%+.  That being said, there are some pretty shocking listings in the list
  • The breakdown by region includes 4 in North Vancouver, 3 in Vancouver West and 2 in Sunshine Coast, Richmond, Maple Ridge and Abbotsford
  • The #1 Listing is now down 43% and almost 75% below assessment!  Before you get too excited it is a lease hold
  • 11 of the 17 listings with assessments are now listed below assessment

Address:4478 STALASHEN DR, Sechelt, Sunshine Coast

May 21 V951633 $69,000 $0 0%
June 21 V951633 $59,000 $-10,000 -14%
July 18 V951633 $39,000 $-30,000 -43%

Assessment: $148,400

Lowest priced home in Tsawcome properties – 2 bedroom rancher-style home shows pride of ownership throughout and boasts a recently replaced roof and pressurized septic field. The open floor plan with vaulted ceilings and skylights in the living room, master bedroom and bathroom areas provide a spacious feeling and the abundance of over-sized windows further enhance the bright and welcoming interior. A gas fireplace for romantic evenings, private treed yard with privacy fence in front, covered parking and just a few steps to the beach make this home an ideal situation for full time AND weekend living in an “ALMOST WATERFRONT” setting! A prepaid lease to 2014 with option to extend lease to 2037!

Address:# 310 1455 ROBSON ST, West End, Vancouver West

May 28 V952859 $402,000 $0 0%
June 22 V952859 removed
July 18 V962408 $257,000 $-145,000 -36%

Assessment: $248,900

West end freehold studio suite in concrete low-rise. On transit route & just steps from Stanley Park & all that Robson & Denman have to offer. Plumbed for insuite laundry. Low management fee. Pets & rentals OK.

Address:# 208 3721 DELBROOK AV, Upper Delbrook, North Vancouver

March 17 V937818 $567,000 $0 0%
April 11 V937818 $557,000 $-10,000 -2%
April 25 V937818 $520,000 $-47,000 -8%
June 22 V937818 removed
July 19 V962712 $365,000 $-202,000 -36%

Assessment: $551,000

Great city VIEW 3 bdrm condo on one level in Capilano/Delbrook. Small pet allowed 1392 SF (measurements from Pixilink not guaranteed, buyer to confirm if important). large principal rooms, 2 full baths, insuite laundry, insuite storage + locker + covered outside storage, close to Edgemont Village, super private & tranquil, backing onto Mosquito Creek. Huge deck/terrace (approx 27×43) 2 parking S/S. Engineers report & all minutes available. Buyer to be responsible for any future assessments. Estate Sale, probate complete. Priced for a quick sale. Call LS for details.

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:# 302 160 LILLOOET AV, Chilliwack, Kent

March 09 H1200760 $134,900 $0 0%
July 18 H1200760 $99,000 $-35,900 -27%

Assessment: $121,300

Get the lifestyle without the price tag! How about owning a little get away on Harrison Lake? Cozy up to the wood burning fireplace with a cup of something delicious and feel your stress melt away. Compa ct maple kitchen with a look through to living room. New flooring. Winter views of the lake and lagoon. Right beside the Ramada Inn. A block to the pub, restaurants and promenade. Far enough away from the hustle of the city to be a true holiday spot, but close enough you aren’t driving half the weekend to get there! Harrison Hot Springs is a wonderful place to spend your weekends, or every day if you’re loo king for peace and quiet in a picturesque setting. Lots of outdoor activities and a vibrant arts community. Sailboats, speedboats and dragonboats share the lake, nice warm lagoon for swimming, golfing clos e by, phenomenal hiking and off road 4 wheeling. Be the envy of your friends and family. Invite them out to the lake for the weekend.

Address:15438 ROYAL AV, White Rock, White Rock

March 30 F1207945 $2,000,000 $0 0%
May 01 F1207945 $1,850,000 $-150,000 -8%
May 05 F1207945 $1,580,000 $-420,000 -21%
July 19 F1207945 removed
July 21 F1218905 $1,480,000 $-520,000 -26%

Assessment: $983,000

Beautiful ocean view property located on White Rock hilltop. Huge potential to renovate or build on this large 5,850SF flat level lot that neighbours multimillion dollar homes. Very highly sought after area with flat street, sweeping unobstructed ocean and mountain views from both levels, and tons of parking. Driveway in the front, with walk in main level entry into the kitchen and breathtaking ocean views. Solid hardwood flooring, new Thermadoor oven, new plumbing & light fixtures. Access to double garage from laneway driveway. Fully finished walk-out basement with huge partially covered sundeck. Walk to beach, restaurants, shopping, library, schools and transportation!

Address:# 202 20556 113TH AV, Southwest Maple Ridge, Maple Ridge

March 09 V915303 $174,900 $0 0%
April 23 V915303 removed
April 28 V946247 $154,900 $-20,000 -11%
May 26 V946247 $144,900 $-30,000 -17%
July 05 V946247 $139,900 $-35,000 -20%
July 20 V946247 $129,900 $-45,000 -26%

Assessment: $171,800

South-facing, very bright unit that is minutes to WestCoast Express, Golden Ears Bridge, Golf Course and bus routes. This unit is perfect for the first-time home buyer. Corner suite with 2 bedrooms/2 baths, lots of light. Close to all amenities. Large living room, kitchen, spacious dining room & extra large insuite laundry. Master bedroom with ensuite. The outdoor area is large covered deck, fenced & gated lawn area & pond. Close to shopping and a few blocks to elementary school.

Address:232 11TH ST, Uptown, New Westminster

June 22 V958012 $429,000 $0 0%
July 17 V958012 $319,000 $-110,000 -26%

Assessment: No Assessment

No Picture

Vacant lot in the brow of the hill. 30.5′ x 108.0′: 3,294 sq ft. Legal: Lot 4 & 5 Except: Firstly: Parcel “A” (Explanatory Plan 8684); Secondly: Parcel “B” (J25408E) of Lot 43 Suburban Block 5 Plan 2620.

Address:7333 BARNET RD, Westridge, Burnaby

April 21 V944674 $999,999 $0 0%
May 05 V944674 $869,900 $-130,099 -13%
May 24 V944674 $795,000 $-204,999 -20%
July 17 V944674 $749,000 $-250,999 -25%

Assessment: $673,700

Some view.

Address:# 201 32110 TIMS AV, Abbotsford West, Abbotsford

March 09 F1128671 $85,900 $0 0%
June 01 F1128671 removed
June 07 F1214809 $74,900 $-11,000 -13%
July 18 F1214809 $64,900 $-21,000 -24%

Assessment: $85,300

Your New Home Search Stops Here! This centrally located 1 bedroom 1 bathroom unit in Bristol Manor has been updated with new paint and flooring. Features include in-suite laundry and a secure underground parking spot. Perfect for someone downsizing, or for someone who wants to live within walking distance of shopping and recreation. It is ready to move in today! Age restricted 45+. Call today to book your personal viewing!

Address:615 E KEITH RD, Queensbury, North Vancouver

March 09 V934896 $1,079,000 $0 0%
March 24 V934896 $988,000 $-91,000 -8%
June 02 V934896 removed
July 21 V963136 $849,000 $-230,000 -21%
Open House: Jul 21
Open House: Jul 22

Assessment: $727,500

Great starter home or investment!! Centrally located in the Grand Boulevard area. This renovated home sits on a 50×137 lot, this 6 bed plus 4 bath includes new laminate flooring, paint, and carpet downstairs where can be used as a mortgage helper! Enjoy BBQ’s on the spacious SUNDECK with city and water views. Comes with ample parking and easy access to schools, shopping, and transit to Downtown. Do not miss this great opportunity!! CALL NOW!

Address:# 109 11595 FRASER ST, East Central, Maple Ridge

June 18 V957139 $149,000 $0 0%
July 07 V957139 $129,000 $-20,000 -13%
July 17 V957139 $119,000 $-30,000 -20%

Assessment: $138,100

Brickwood Place offers a central location, walking distance to Fraser River, WestCoast Express, shopping, and restaurants. Steps to Brickwood Park. 2 Bedrooms with large patio. Good condition —and great opportunity to own!!

Address:12771 GULFVIEW RD, Pender Harbour, Sunshine Coast

March 09 V883040 $499,000 $0 0%
March 31 V883040 removed
May 04 V947594 $479,000 $-20,000 -4%
July 17 V947594 $399,000 $-100,000 -20%

Assessment: $459,000

Situated high above Madeira Park, this 4-bedroom home enjoys panoramic ocean views & fabulous southwest exposure. The one-owner home was well built and maintained with a new roof, low-maintenance landscaping and more than enough room for the entire family. Downstairs could easily be converted into a separate suite without having to sacrifice much living space for the main occupants. Quiet location, close to everything & 0.72 of an acre. GREAT VALUE!

Address:39 JOHNSON BY, Indian Arm, North Vancouver

March 14 V936863 $1,998,000 $0 0%
July 17 V936863 $1,598,000 $-400,000 -20%

Assessment: No Assessment

The most stunning property of Indian Arm is now available! This family legacy estate features approx 1200 ft of waterfront with well built 2500 sq ft home and guest suite. Incredible setting with easy access to the city.20 minutes by boat to Deep Cove yet you feel like you could be in one of the most remote areas of B.C. Live off the grid with your own hydro power supply and enjoy an incredible self sufficient lifestyle. 5 acres of pristine waterfront just minutes away from the city. This would be an ideal group, organization or multi-family retreat purchase. Bonus: Separate suite below with kitchen! What an opportunity!

Address:10251 CAITHCART RD, West Cambie, Richmond

March 09 V932604 $1,738,000 $0 0%
May 01 V932604 $1,688,000 $-50,000 -3%
May 31 V932604 removed
June 21 V957647 $1,558,000 $-180,000 -10%
July 19 V957647 $1,398,000 $-340,000 -20%

Assessment: $1,403,000 and sold for $1,160,000 on Feb 3, 2011

Custom built 5243 sq ft house on a large South facing 75′ x 142′ = 10,650 sq ft lot. Flexible floor plan with 6 bedrooms (2 full master bedrooms), den and 4 rec rooms. Offers lot of options for extended family, nanny, students or guests. Only 8 years old but several updates include: 1 yr old appliances, Air Conditioning with heat pump, $35,000 in custom drapes & window coverings, granite stairs, security cameras, 2 laundry areas + much more. Super clean & very well maintained with lot of room for parking in front and large garden at back. Quiet tree lines street in a convenient location just minutes to Richmond Center and easy access to all bridges and highways.

Address:38974 OLD YALE RD, Sumas Prairie, Abbotsford

May 09 F1211939 $1,239,000 $0 0%
July 20 F1211939 $999,000 $-240,000 -19%

Assessment: Farm land – value set by BC Regulation 411/95

Beautiful PRIVATE 8.62 Acres in wonderful Arnold community. A great place to raise a family & grow your own food. 360 degree country views. See sunsets & night skies like you’ve never seen before, away from the city lights. Walking & riding trails along nearby mountain. This acreage includes a 4 stall horse barn w/indoor free stall area, large open hay loft & workshop/tack room w/hot water. 44′ x 50′ drive through barn. Outdoor riding area, wooden fenced pastures and hay field. (All new fencing last summer) 3 Bed/2 bath house w/sunshine kitchen, family/dining room and bonus room or 4th bedroom upstairs. New Lennox furnace, hotwater tank, thermo windows, Laminate, etc. Patio/yard perfect for family fun & entertaining.

Address:# 103 1717 HARO ST, West End, Vancouver West

May 28 V952858 $309,900 $0 0%
June 22 V952858 removed
July 18 V962377 $250,000 $-59,900 -19%

Assessment: $240,600

West end freehold studio suite. Just steps to West End Community Centre, transit, Stanley Park & all that Robson & Denman have to offer. Low maintenance fee. Pets & rentals OK.

Address:# 601 1111 HARO ST, West End, Vancouver West

March 09 V933456 $650,000 $0 0%
March 16 V933456 $620,000 $-30,000 -5%
April 26 V933456 $599,000 $-51,000 -8%
June 09 V933456 $590,000 $-60,000 -9%
June 16 V933456 $570,000 $-80,000 -12%
July 19 V933456 $525,000 $-125,000 -19%

Assessment: $545,000

Perfect location in the desirable “Eleven Eleven” just steps to restaurants, theatre, Robson St shopping! Bright corner unit with lots of windows, very functional floor plan with bedrooms on opposite sides, cozy gas fireplace, insuite laundry. Sunny, solarium type nook through French doors off kitchen, great spot for morning coffee. Building features gym, media room, social room & secure underground parking. Open House Sat June 16th, 1:30-3:30pm.

Address:5890 FALCON RD, Eagleridge, West Vancouver

April 26 V945519 $2,100,000 $0 0%
May 11 V945519 $1,999,000 $-101,000 -5%
July 17 V945519 removed
July 19 V962780 $1,699,000 $-401,000 -19%
Open House: Jul 28

Assessment: $1,720,000

Stunning Views! This gorgeous west coast style home is situated on a completely private and flat level 12,410 sq ft property and cul-de-sac. Offering over 3,000 sq ft of living space on 3 levels, 2 bedrooms, and partly finished basement.Enjoy the Eagle Harbour views in this very private south east facing backyard boasting of beautiful gardens, pool and decks. This is a very special property with views from each main room. Home is in excellent condition and awaiting your ideas. The basement level includes a hot tub, sauna, and room for a potential games room or rec room with lots of space for storage. Truly an incredible neighborhood just minutes from marinas, trails, recreation, schools and golf.

Address:# 206 2020 FULLERTON AV, Pemberton, North Vancouver

March 12 V936745 $404,900 $0 0%
March 24 V936745 $397,000 $-7,900 -2%
May 04 V936745 $382,000 $-22,900 -6%
May 29 V936745 $363,000 $-41,900 -10%
July 20 V936745 $327,900 $-77,000 -19%

Assessment: $332,000

Highly sought after Hollyburn Building at Woodcroft. This 2 Bedroom unit has been recently updated with brand new appliances and granite countertops.


4 responses to “The Weekly Drop – July 23, 2012

  1. Tugboat July 24, 2012 at 9:13 am

    Fanatastic site Observer. You are to be thanked for your service – all the info CREA won’t give us! Any insight into the Van Island Markets?

  2. market stats July 25, 2012 at 5:02 pm

    1628 LANGWORTHY ST MLS® V932279 $999,000

    Heere is a new contender

  3. Joe Tor August 8, 2012 at 8:14 pm

    You should do a site for TORONTO or someone else should. It seems Toronto is falling now too.

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