Vancouver Price Drop

Documenting Vancouver real estate price movements

North Vancouver Spotlight – August 25, 2012

Here are the top 10 properties currently listed in North Vancouver with the largest overall drop in asking price since early March

Some Highlights

  • It takes a 20% drop to make this top 10, up from 18%, 15% and 14% the three previous months
  • 3 of 9 listings with assessment are now listed below assessment
  • Three listings are from Lower Lonsdale
  • #1 is now down over $4 million and apparently it is down much more than that as people have said it was listed for much higher than $12.9 million last year.  It’s a flesh wound!
  • #4 is a court ordered sale and a victim of the new CMHC rules forcing million dollar range homes to list below a million in order to attract buyers who need CMHC to finance the purchase
  • #8 is listed at 25% below assessment
  • #9 HAS LOT’S OF CAPITAL LETTERS.  AND OH YEAH, IT WAS ALSO FORCED BELOW $1 MILLION
  • #10 is yet another home being forced below the magic $1 million level.  That single change to the CMHC rules has broad cascading implications to real estate in the vancouver area

#1 ) Address:2888 PANORAMA DR, Deep Cove, North Vancouver

March 09 V892989 $12,998,000 $0 0%
April 24 V892989 $10,998,000 $-2,000,000 -15%
August 22 V892989 $8,990,000 $-4,008,000 -31%

Assessment: $5,947,000

This magnificent WF estate on over 1/2 acre above Indian Arm’s most dramatic cliff & rock formations. This res is wrapped in 270 degrees of coastline vws. Exquisitely crafted, taking 6 painstaking yrs to perfect offering 12,922 sqft w/milled beams, slate roof, crafted w’dwork, natural stone & hardw’ds, vaulted ceilings, timber & steel beam constr, stone FP’s, Chef’s kit w/breakfast bar, EA, adj FR, grand DR priv study. Kids paradise down w/custom I/D bsketb’ll ct, state-of-the-art theatre, fabulous billiard rm w/wet bar, games rm w/professional dart board & air hockey arena. Most incredible hidden passage to a Old World wine cellar & guest accomm. BBQ centre, manicured lawns/gardens & OD F/P. A stunning work of art!


#2 ) Address:967 ROSLYN BV, Dollarton, North Vancouver

March 09 V933878 $3,750,000 $0 0%
March 28 V933878 $3,690,000 $-60,000 -2%
April 18 V933878 $3,288,000 $-462,000 -12%
May 16 V933878 $2,980,000 $-770,000 -21%
June 15 V933878 $2,750,000 $-1,000,000 -27%
July 25 V933878 removed
August 10 V965789 $2,690,000 $-1,060,000 -28%

Assessment: $1,840,000

Spectacular Westcoast contemporary 5000 SF luxury home in seldom available Deep Cove, Dollarton area. Features incl 7 large bedrooms, 6 baths & 2 laundry rooms. Top floor incl 5 bedrooms & 3 full baths. The master has a huge ensuite with soaker tub, walk in closet & balcony features vaulted ceiling, indoor water fall & exceptionally bright with oversize windows facing ocean. The gourmet kitchen is equipped with high end S/S appls, 2 sinks & granite counters. A massive granite island completes this custom designed space. Lower level features a prof theatre room, office & high end 2 bdrm legal suite. The home boasts an attached triple car garage, inground salt water pool & hot tub. Open House, Sun, Aug.26th, 2-4pm


#3 ) Address:# 19 415 W ESPLANADE, Lower Lonsdale, North Vancouver

July 17 V959014 $265,000 $0 0%
July 18 V959014 $248,000 $-17,000 -6%
August 01 V959014 $235,000 $-30,000 -11%
August 10 V959014 $198,000 $-67,000 -25%

Assessment: No Assessment

Always wanted waterfront property? How about being right on the water without paying waterfront prices? This unique floating home has character and is perfect for someone who wants to live on the water year round. Conveniently located close to the entrance way and marina amenities, but far enough to have lots of privacy and peace and quiet. This home has vaulted ceilings, a spiral staircase, warm natural wood siding throughout. Sunken living room, large kitchen area with hardwood flooring and two bedrooms above which are nicely separated. The new spirit trail is steps away and the Seabus, shops and restaurants just blocks away. Moorage is $850 per month and is a steal! You have to see this one to appreciate its charm!


#4 ) Address:1628 LANGWORTHY ST, Lynn Valley, North Vancouver

March 09 V932279 $1,280,000 $0 0%
March 21 V932279 $1,200,000 $-80,000 -6%
Open House: Jun 24
Open House: Jul 08
July 26 V932279 $999,000 $-281,000 -22%

Assessment: $1,176,000

CHECK THIS OUT – CHECK OUT THIS PRICE! 5 YEAR OLD HOME in a great Lynn Valley location. Walking distance to schools and Lynn Valley Centre. Traditional and SPACIOUS floor-plan on three levels featuring: 4 good sized BEDROOMS UP. The main floor boasts high ceilings, crown moldings, a den, formal living and dining rooms, large EAT-IN KITCHEN and a spacious family room with easy access to the back yard. There is a 2 Bedroom in-law accommodation down with separate entry. This is a Court Ordered sale, at a great price! Spit and polish as well as some fix ups will reap great rewards.


#5 ) Address:360 E 25TH ST, Upper Lonsdale, North Vancouver

March 24 V939001 $928,000 $0 0%
April 21 V939001 $898,000 $-30,000 -3%
May 17 V939001 $848,000 $-80,000 -9%
Open House: May 19
Open House: May 26
May 30 V939001 $799,900 $-128,100 -14%
Open House: Jun 02
Open House: Jun 03
Open House: Jun 10
Open House: Jun 23
June 27 V939001 removed
July 02 V959830 $779,000 $-149,000 -16%
Open House: Jul 08
Open House: Jul 15
July 24 V959830 $778,888 $-149,112 -16%
Open House: Aug 11
August 08 V959830 $728,000 $-200,000 -22%

Assessment: $701,100

Large corner lot. House totally upgraded. High yew hedge provides privacy. South west city views. Fantastic starter home or suitable for a small family with excellent revenue stream from the suite which is bright,airy and fully equipped. Both suites have independent laundry and separate outside entrance. For this quality house, with a suite, it is the best value on the North Shore.OPEN HOUSE, SATURDAY 2-4


#6 ) 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
Open House: Aug 18
Open House: Aug 19

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! Open Houses Saturday and Sunday August 18/19th 2-4pm


#7) Address:3158 PRINCESS AV, Princess Park, North Vancouver

May 04 V947641 $1,188,000 $0 0%
Open House: May 20
May 23 V947641 $998,000 $-190,000 -16%
Open House: May 27
June 22 V947641 $958,000 $-230,000 -19%
July 14 V947641 $938,000 $-250,000 -21%
Open House: Jul 21

Assessment: $849,900

Solid two storey with nice curb appeal located in a family friendly neighbourhood with a panoramic view of Lynn Valley from the rear deck. Large manicured lot. Original owners. Needs some TLC but can be a wonderful family home with carport, outside storage attached to the carport and workshop in the basement area. Call for a viewing at your convenience.


#8 ) Address:# 208 141 W 13TH ST, Central Lonsdale, North Vancouver

March 14 V937066 $399,900 $0 0%
March 22 V937066 $389,000 $-10,900 -3%
April 20 V937066 $378,000 $-21,900 -5%
April 25 V937066 removed
April 27 V946035 $378,000 $-21,900 -5%
May 15 V946035 $363,000 $-36,900 -9%
May 29 V946035 $348,000 $-51,900 -13%
Open House: Jun 03
June 15 V946035 $331,000 $-68,900 -17%
June 28 V946035 $318,000 $-81,900 -20%

Assessment: $427,000

X-tra large 2 bedroom/1.5 baths (1173 sq/ft) South West VIEW corner suite. Outstanding features: sunken living room, terrace dining room, fireplace, 2 balconies, huge master bedroom with ensuite,insuite laundry, insuite storage, wing to wing bedrooms & more. Fantastic 13th & Lonsdale location.


#9 ) Address:267 E 4TH ST, Lower Lonsdale, North Vancouver

March 09 V929676 $1,249,000 $0 0%
April 13 V929676 removed
June 20 V957306 $998,000 $-251,000 -20%

Assessment: $1,102,000

HERE’S YOUR CHANCE TO BUY A BEAUTIFUL DUPLEX HOME IN A QUIET LONSDALE LOCATION ON 3 LEVELS OF LUXURY FINISHINGS INCLUDING SOUTH FACING VIEW ROOF DECK, SPACIOUS OPEN PLAN, HIGH CEILINGS, FULL BASEMENT WITH ENTRY, 1 AND 2 GARAGES AND MORE. OCCUPANCY APRIL 2013, SO BUY NOW AND CUSTOMIZE YOUR OWN HOME AND HAVE TIME TO PLAN AND BONUS PRICE INCLUDES NET TAXES! CALL NOW FOR PLANS AND MORE INFORMATION. EXPERIENCED LOCAL BUILDER WITH MANY LOCAL PAST PROJECTS, REFERENCES AVAILABLE.


#10 ) Address:# PH1 567 LONSDALE AV, Lower Lonsdale, North Vancouver

February 25 V933850 $1,250,000 $0 0%
May 04 V933850 $1,150,000 $-100,000 -8%
Open House: May 20
Open House: Jun 03
June 06 V933850 $1,100,000 $-150,000 -12%
Open House: Jul 08
Open House: Jul 15
July 28 V933850 $999,000 $-251,000 -20%
Open House: Aug 05
Open House: Aug 12
Open House: Aug 25

Assessment: $898,000

Camellia Penthouse – Enjoy panoramic city, harbour and mountain views from this two-level penthouse. South West faciing 16’x12′ deck is perfect for entertaining. Featuring 16′ floor to ceiling windows, this stunningPenthouse offers plenty of room for house size furniture and family living. Enjoy the best of Lower Lonsdale close to everything – walk to Sea Bus and Lonsdale Quay shops and amenities. Quality concrete construction, this 2bedrm plus den is the perfect home. Open House Saturday Aug 25, 2-4pm

One response to “North Vancouver Spotlight – August 25, 2012

  1. Yellow Helicopter August 27, 2012 at 12:43 pm

    As always, thank you for all your work, time and efforts on this site Observer!

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