Vancouver Price Drop

Documenting Vancouver real estate price movements

Spotlight North Vancouver – September 24, 2012

It’s been a month so once again here are the top 10 properties currently listed in North Vancouver with the largest overall drop in asking price since early March.  Please note that the listings are now in reverse order so starting with #10 and going up to #1

Some Highlights

  • It takes a 20% drop to make this top 10.  The previous 4 months were 20%, 18%, 15% and 14%
  • 3 of 9 listings are now below assessment
  • 2 listings have dropped over $1 million, one of those over $4 million and in fact it apparently has dropped much more since last year before my information was available PLUS it is still $3 million OVER assessment!

#10 ) 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 Available

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!

#9 ) 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
Open House: Sep 16
Open House: Sep 23

Assessment: $898,000

2 sales in this apartment averaging 6% ABOVE assessment.  This unit is currently listed 11% ABOVE assessment

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 Sun Sept 23 2-4 pm

#8 ) Address:3818 DOLLARTON HY, Roche Point, North Vancouver

April 04 V941153 $1,988,000 $0 0%
June 13 V941153 removed
June 23 V958306 $1,888,000 $-100,000 -5%
July 14 V958306 $1,699,000 $-289,000 -15%
September 01 V958306 removed
September 09 V970177 $1,588,000 $-400,000 -20%

Assessment: $1,027,000

Custom built 16 years old, 3600 sq ft family home on a 1/2 acre lot surrounded by district greenbelt (quite & private well back from the street). Features tile roof, hot water/radiant heat, hardwood flooring, large master w/sitting area, deluxe ensuite, large deck, legal suite, deck, patio, private yard, garden shed, etc. Walk to Cates Park & transit, close to Dollar Shopping Centre. Combine with next door property (also 1/2 acre approx) for a potential 4-5 lot ocean view subdivision! Move in now & develop later.

#7 ) 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

One sale in this unit last year for 7% BELOW assessment and this one is currently listed over 25% BELOW assessment

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.

#6 ) 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

“For this quality house, with a suite, it is the best value on the North Shore”  Apparently not since it hasn’t sold and is still well above assessment.  Also, if it is good value now then what about when it first listed $200K higher?

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

#5 ) Address:4785 CAPILANO RD, Canyon Heights, North Vancouver

May 12 V949678 $1,150,000 $0 0%
June 26 V949678 $1,025,000 $-125,000 -11%
September 22 V949678 $888,000 $-262,000 -23%

Assessment: $969,800


Attention! Location, size, location, bright, location, price. A fantastic huge, level, sunny lot backing onto the Capilano river & walking distance to schools, shopping, rec, parks & ski mountain. This type of lot rarely comes up & would suit someone wanting to work on the existing house & add on, or tear down altogether. Beautiful park like backyard. Place your dream palace on this heavenly lot!! BEWARE OF SECURITY DOG!!!

#4 ) 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
Open House: Aug 26
September 20 V963136 $819,000 $-260,000 -24%

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

#3 ) Address:477 VENTURA CR, Upper Delbrook, North Vancouver

May 14 V949956 $1,198,000 $0 0%
Open House: May 19
June 06 V949956 $1,098,000 $-100,000 -8%
Open House: Jun 17
Open House: Jun 24
Open House: Jul 01
June 27 V949956 $1,048,000 $-150,000 -13%
Open House: Jul 07
Open House: Jul 15
July 20 V949956 $978,000 $-220,000 -18%
Open House: Jul 22
July 25 V949956 removed
July 28 V964157 $978,000 $-220,000 -18%
Open House: Jul 28
Open House: Aug 19
Open House: Aug 26
Open House: Sep 08
September 09 V964157 $899,000 $-299,000 -25%
Open House: Sep 15

Assessment: $1,180,000

Currently listed close to 25% BELOW assessment

Very tranquil setting on a quiet cul-de-sac of fine homes in ‘Upper Delbrook’. 12 year old ‘Noort’ built home. Large lot backing onto natural park/greenbelt. Features: white kitchen w/granite counters, formal dining room, light maple floors in family room, full master ensuite w/jetted tub, 400 sf west-facing sundeck, 700 sf unfinished walk-out/daylight basement (easy suite w/roughed in plumbing), Lots of accessible storage. Large double garage, newly painted exterior, deck resurfaced, etc…Great value! Priced below assessed value!

#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

When this place sells it will surely bring the prices down for all of the $2.5 to $3.5 million homes in the area since comparatively it is pretty nice and in a great area

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, Sunday, Sept. 23, 2-4pm.

#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 place is incredible but even now after $4million+ in drops the past 6 months it is still grossly overpriced.  You can get the same home on the waterfront in the best spots in southern california for much less and that’s quite ridiculous

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!


5 responses to “Spotlight North Vancouver – September 24, 2012

  1. joe September 24, 2012 at 9:57 am

    Why do home owners feel they can high-ball the market, when potential buyers are viewed negatively when they provide a low-ball offer of 10%? Shouldn’t all potential buyers low-ball the owners by the same margins the owners are high-balling the buyers? 😉

  2. gokou3 September 24, 2012 at 10:13 am

    Re: #1

    Well the street address has three #8s… that alone surely worths a couple million, no?

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