Vancouver Price Drop

Documenting Vancouver real estate price movements

Langley Spotlight – August 24, 2012

Here are the top 10 properties currently listed in Langley, Cloverdale and Abbotsford with the largest overall drop in asking price since early March.

Some Highlights

  • It takes a 26% drop to make this list up from 23%, 20% and 19% the three previous months
  • 4 of 10 properties with assessment information are listed below assessment
  • #2 is a court ordered sale but as a bonus you get some livestock
  • #5 is about 35% below assessment
  • #7 is 25% below assessment
  • #9 is a court ordered sale that is listed about 40% below assessment

#1 ) Address:5848 175TH ST, Cloverdale BC, Cloverdale

February 25 F1204886 $1,600,000 $0 0%
April 04 F1204886 $1,100,000 $-500,000 -31%
June 23 F1204886 $999,900 $-600,100 -38%

Assessment: $506,100

Future development multi family potential in prime location in downtown Cloverdale. Good rental while waiting for rezoning. 15046 sq.ft. lot. All fenced. Check with city for zoning particulars.


#2 ) Address:15490 48TH AV, Serpentine, Cloverdale

March 09 F1200306 $1,399,999 $0 0%
June 06 F1200306 removed
August 10 F1220429 $895,000 $-504,999 -36%

Assessment: $734,900

Court ordered sale. 5 acre parcel of land with a 5 bedroom, 4 bath home located on a quiet no thru road. Property is currently used for some livestock.


#3 ) Address:2529 264 ST, Otter District, Langley

July 01 F1116719 $1,500,000 $0 0%
October 21 F1116719 $1,295,000 $-205,000 -14%
May 26 F1116719 $995,000 $-505,000 -34%

Assessment: $737,000

A large family would love this home. Close to all amenities of city yet private with rural feel. 2.37 acres double and single garage. Beautiful Aldergrove rural home. Family custom-built, one owner, set well back from the road with gated entry. Quiet, peaceful, private. Large 2 bdrm unauthorized suite. Custom cabinets throughout, large room, lot of space.


#4 ) Address:# 413 33960 OLD YALE RD, Central Abbotsford, Abbotsford

March 09 F1127557 $169,900 $0 0%
April 27 F1127557 removed
April 28 F1210945 $129,000 $-40,900 -24%
June 26 F1210945 $119,000 $-50,900 -30%

Assessment: $133,300

Ideal for an investor or first time buyer. 1 bedroom and 1 bath condo with a Maple kitchen, laminate flooring, in-suite laundry. 2 underground parking stalls and 1 storage locker. Downtown Abbotsford location, walking distance to restaurants, pubs, grocery stores and more. No age or rental restrictions. Great investment!!


#5 ) Address:# 113 32725 GEORGE FERGUSON WY, Abbotsford West, Abbotsford

March 09 F1203101 $169,900 $0 0%
April 04 F1203101 $159,900 $-10,000 -6%
May 02 F1203101 removed
May 08 F1211895 $149,900 $-20,000 -12%
June 13 F1211895 $144,900 $-25,000 -15%
July 04 F1211895 $129,900 $-40,000 -24%
August 14 F1211895 removed
August 16 F1220826 $119,900 $-50,000 -29%

Assessment: $177,700

Fantastic condo at a great price! Two large bedrooms and full baths are separated by a nice living room opening to an outside patio! The kitchen is huge and includes a granite island area for that always needed counter space! Full size laundry room. Located within easy walking distance to shopping and transit. A perfect investment or place to start!


#6 ) Address:22940 48TH AV, Salmon River, Langley

March 17 F1206833 $5,800,000 $0 0%
April 14 F1206833 $4,200,000 $-1,600,000 -28%

Assessment: $989,000

Investor Alert! Development potential here. 10.17 acres that are NOT in the ALR, located minutes from Fraser Hwy and not far from the heart of Langley. Currently zoned RU1 with future potential to rezone with OCP amendment. Don’t miss out out on a rare opportunity to own ALR exempt property. Call today to schedule a viewing.


#7 ) Address:# 109 32025 TIMS AV, Abbotsford West, Abbotsford

June 14 F1215497 $109,900 $0 0%
June 23 F1215497 $99,900 $-10,000 -9%
July 02 F1215497 $84,900 $-25,000 -23%
July 14 F1215497 $79,900 $-30,000 -27%

Assessment: $104,800

Affordable, clean 2 bdrm condo, close to everything shopping, seniors center, medical, church and public transit, newer stove, fridge and laminate flooring, enclosed patio with 5 x 5 storage area plus locker downstairs, quiet side of the building, amenities include workshop, meeting room with kitchen and exercise area, strata fee includes heat, hot water and electricity, low taxes, 55+, no rentals and no pets, new roof coming assessment already paid for.


#8 ) Address:27752 MONTESINA AV, Aberdeen, Abbotsford

May 25 F1213526 $2,750,000 $0 0%
July 12 F1213526 $2,000,000 $-750,000 -27%

Assessment: $941,000

Stunning 5487 sqft, 4 yr old Log Home with breathtaking views set on 5 acres. This worry free home has it all, including granite countertops, stainless appliances, continuous hotwater, heat pump, central air, two car garage, beautiful deck off master, a full size pool table stays in the games room, a pond, even the dog has its own water! Nevery worry about being without power as this home has it own generating system. Two detached workshops (27×52 and 25×70), one with overhead crane. This home needs nothing as the current owner recently had everything cleaned and tested. Make this home yours today!


#9 ) Address:33674 MCDOUGALL AV, Central Abbotsford, Abbotsford

March 09 F1128067 $215,000 $0 0%
March 28 F1128067 $209,000 $-6,000 -3%
May 11 F1128067 removed
May 12 F1212484 $192,900 $-22,100 -10%
July 11 F1212484 $176,500 $-38,500 -18%
August 17 F1212484 $159,000 $-56,000 -26%

Assessment: $261,100

Court order sale, offers subject to BC Supreme Court approval. Two bedroom one bathroom rancher on a sloping lot near shopping and transportation. The land is multi-family zoned for future potential.


#10 ) Address:29972 FRASER HY, Aberdeen, Abbotsford

March 09 F1117674 $2,150,000 $0 0%
July 10 F1117674 removed
August 08 F1220221 $1,599,000 $-551,000 -26%

Assessment: $900,000

Gorgeous 3.7 acres with 3789 sqft, 8 yr old dream house and older 4 bedroom house on the Fraser Highway near Mt.Lehman road exit. Possible expansion or rezoning potential. Great for truckers and nursery. Meas taken from plan, call for more info.

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One response to “Langley Spotlight – August 24, 2012

  1. bailinginbc August 24, 2012 at 10:44 pm

    Thanks an observer. It really is quite interesting to see the increase in percentage of the drops required to make this list over several months. What will we hit next month? 30%?

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