Vancouver Price Drop

Documenting Vancouver real estate price movements

Golden Ears Spotlight – August 24, 2012

Here are the top 10 properties currently listed in “Golden Ears” (Maple Ridge, Pitt Meadows and Mission) with the largest overall drop in asking price since early March.  This could be ground zero for the greater vancouver area housing crash

Some Highlights

  • It takes a 30% drop to make this list up from 24%, 21% and 17% the three previous months
  • 2 of 7 properties with assessment information are listed below assessment
  • #2 is now listed over 50% below assessment…
  • #4 is “CAPE COD ON 1 ACRE!” except for the “Court Order Sale, as-is, extensive damage to home throughout, mold, etc. view photos on Realtor website before requesting a viewing. Check with your bank for financing first, as the home is without an occupancy permit.”

#1 ) Address:12157 – 12175 224TH ST, West Central, Maple Ridge

May 26, 2011 V703429 $2,499,000 $0 0%
June 14, 2011 V703429 $3,900,000 $0 0%
July 19, 2011 V703429 $2,900,000 $-1,000,000 -26%
September 24, 2011 V703429 $2,500,000 $-1,400,000 -36%
March 09 V703429 $1,990,000 $-1,910,000 -49%
May 01 V703429 $1,750,000 $-2,150,000 -55%

Assessment: $898,000

Town Core potential highrise site. Located near Town & Ecra Seniors Centre & extensive new apartment development.

#2 ) Address:12395 STAVE LAKE RD, Durieu, Mission

March 09 F1127786 $429,000 $0 0%
April 24 F1127786 $399,999 $-29,001 -7%
July 25 F1127786 removed
August 02 F1219781 $221,000 $-208,000 -48%
August 11 F1219781 $199,000 $-230,000 -54%

Assessment: $400,066

29.42 Acres: Rural 3 Zone. Not in ALR – McConnel District. Valley and Mountain View. Paved Road Access – excellent building sites available. Former home: Well water & septic. Year round trout filled creek. Include tree and mineral rights.

#3 ) Address:# LT.B FERNDALE AV, Mission BC, Mission

March 01 F1205237 $599,000 $0 0%
April 04 F1205237 $495,000 $-104,000 -17%
June 30 F1205237 $399,000 $-200,000 -33%
August 18 F1205237 $369,000 $-230,000 -38%

Assessment: No Assessment

10.23 acres zoned for 4 acre lots. Partially treed. Great place to build your dream home with some future potential. Near Mission City hall on Ferndale. Changes in Fisheries setback reduced from 30 meters to 10 meters. Property is located West of 34711 Ferndale Ave.

#4 ) Address:12470 BLUE MOUNTAIN CR, Northeast, Maple Ridge

April 02 V940681 $698,000 $0 0%
August 03 V940681 removed
August 06 V965433 $475,000 $-223,000 -32%
August 17 V965433 $449,000 $-249,000 -36%

Assessment: $526,000

CAPE COD ON 1 ACRE! Nice curb appeal to this home with upstairs bedroom dormer windows. Lots of parking, double enclosed garage, nifty brickwork at the front, large covered sundeck at the back, off the dining and living room areas. Main floor has huge living and dining rooms, family room with gas fireplace, kitchen with wood cabinets and island, large laundry room. Two half baths on this level. Upstairs are 4 bedrooms, a full bathroom, and a full ensuite off the master. The basement is part and unfinished. Court Order Sale, as-is, extensive damage to home throughout, mold, etc. view photos on Realtor website before requesting a viewing. Check with your bank for financing first, as the home is without an occupancy permit.

#5 ) Address:29939 LOUGHEED HY, Mission, Mission

March 09 F1203459 $749,000 $0 0%
May 09 F1203459 removed
May 16 F1212737 $739,000 $-10,000 -1%
July 13 F1212737 $699,000 $-50,000 -7%
July 19 F1212737 $625,000 $-124,000 -17%
August 11 F1212737 $560,000 $-189,000 -25%
August 22 F1212737 removed
August 23 F1221363 $499,000 $-250,000 -33%

Assessment: $487,000

Very private setting for this home on almost 1 acre in the Silverdale area. Second home on property along with 5 bay detached garage with loft area (heated, water and 200 amp service). Updated kitchen, huge master bedroom and nice patio area.

#6 ) Address:31834 BENCH AV, Mission BC, Mission

March 09 F1118831 $1,150,000 $0 0%
June 13 F1118831 removed
June 14 F1215554 $829,900 $-320,100 -28%
July 12 F1215554 $799,900 $-350,100 -30%
July 31 F1215554 $769,900 $-380,100 -33%

Assessment: $758,000


Stunning mountain and valley views, this Mission home is situated high on a hill in a super quiet neighborhood of exclusive properties and Mission Golf & Country Club. Lots of house here with over 5300 sqft, 8 bdrms, 7 bathrms plus office with separate entrance, perfect for home based business! Triple car garage, spice kitchen, huge covered (3) sundecks are a few of the many extras in this home. Fabulous layout with great room, huge kitchen perfect for entertaining and loads of window for the amazing views. There is room for everyone here, very unique home!

#7 ) Address:25977 DEWDNEY TRUNK RD, Websters Corner, Maple Ridge

October 04, 2011 V903569 $1,480,000 $0 0%
March 09 V903569 $1,180,000 $-300,000 -20%
April 21 V903569 $999,000 $-481,000 -33%

Assessment: $971,000

11.96 acres with 2 homes on city water. No Creeks,278 ft of frontage,lots of fruit trees, The barn is renovated into a nice home with main house. Property has great potential. Wood & tile finish and European flair.Bring your ideas, land is nice, almost flat all usable wide open sunny location. With potential to buy the adjacent property. V937921

#8 ) Address:26000 128TH AV, Websters Corner, Maple Ridge

June 02 V953993 $409,900 $0 0%
June 14 V953993 $279,900 $-130,000 -32%

Assessment: No Assessment


Build Your Dream Home on this Five acre parcel, city water on 128th. 25928 128th listed for sale 3 acres $299900.00Great wild life get away for the weekend. The site needs to be a driveway built and a building site with sand. I have an experienced engineer available for the coordination of the project and necessary approvals including septic.

#9 ) Address:32921 14TH AV, Mission BC, Mission

December 04, 2011 F1128776 $1,450,000 $0 0%
April 16 F1128776 $1,000,000 $-450,000 -31%

Assessment: $442,000

1.47 acre property in central Mission approved for 23 town homes. Complete with drawings, geotech, engineering and site plans. Present zone R558. New zone MT40. Preliminary approval.

#10 ) Address:# PCL.B KIRKPATRICK AV, Hatzic, Mission

May 10 F1212201 $2,000,000 $0 0%
June 14 F1212201 $1,398,000 $-602,000 -30%

Assessment: No Assessment


Spectacular 30 acre trophy property above the hills of Mission (Grace Mountain) with views of Hatzic Lake and Fraser Valley. Similar views to nearby Westminster Abbey. In the area of other multi-million dollar homes. Rare opportunity for an exciting property. Partially treed. Some buildable plateau areas. Non-ALR, potential for development. Just minutes away from Mission City Hall and all city amenities.



3 responses to “Golden Ears Spotlight – August 24, 2012

  1. Rololo August 25, 2012 at 12:00 pm

    Another follower who appreciates your efforts. I can imagine how much work goes into compiling this info, so much thanks.
    Also, agree re: Golden Ears being ground zero for the melt. This is one of the areas we’re watching closely, and we’re amazed at many of the asking prices. A lot of people focus on the housing insanity in Vancouver proper, but the suburbs have reached their own level of absurdity.

  2. Gromit August 26, 2012 at 1:01 am

    #4 would appear to be a grow op. Such a shame, only worth the land value minus demolition costs as you can’t get financing to purchase these lots.

  3. jr August 26, 2012 at 2:41 pm

    I agree that the Golden Ears area will be the epicenter for middle income housing. The prices are ridiculous and the amount of new inventory coming online soon is equally astounding. There is a project I drive by frequently which appears to have halted, near Bruce’s Market.

    I think a useful analysis would be to filter out the acreage’s and focus on average dwellings that are newer construction for this region.

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