Vancouver Price Drop

Documenting Vancouver real estate price movements

Spotlight Tri-Cities – September 25, 2012

It’s been a month so once again here are the top 10 properties currently listed in Coquitlam, Port Coquitlam and Port Moody 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 22% drop to make this top 10.  The 10th place drop registered 18%, 17%, 17% and 13% the previous 4 months so this is a large increase
  • 3 of 7 listings are now below assessment

#10 ) Address:3976 ROBIN PL, Oxford Heights, Port Coquitlam

February 10 V930974 $479,000 $0 0%
July 13 V930974 $399,900 $-79,100 -17%
August 29 V930974 $374,900 $-104,100 -22%

Assessment: No Assessment Available

Build your custom dream home in Oxford Heights. One of Port Coquitlam’s best neighbourhoods. Lot 4 lots subdivision. Next to creek and very private and quiet location. Ready to build March 1, 2012. HST not included.

#9 ) Address:258 MONTGOMERY ST, Central Coquitlam, Coquitlam

March 10 V936392 $1,280,000 $0 0%
April 26 V936392 $1,199,000 $-81,000 -6%
May 10 V936392 $1,100,000 $-180,000 -14%
Open House: May 27
Open House: Jun 03
Open House: Jun 09
Open House: Jun 16
Open House: Jun 17
Open House: Jun 24
Open House: Jul 01
Open House: Jul 02
Open House: Jul 08
July 11 V936392 removed
July 14 V961971 $1,050,000 $-230,000 -18%
Open House: Jul 15
Open House: Jul 29
Open House: Aug 05
Open House: Aug 12
Open House: Aug 18
Open House: Aug 25
Open House: Sep 02
Open House: Sep 09
September 14 V961971 removed
September 19 V972269 $998,000 $-282,000 -22%
Open House: Sep 23

Assessment: $934,000

One of the best priced new homes in Coquitlam. Beautiful kitchen with center island, wok kitchen, granite counter top, stainless steel cook top and more. 7 bedrooms, 2 ensuites, crown moldings, in floor heating and full basement with granite counter tops and washer/dryer below. Over 5300 SQFT of beauty! Easy to show!

#8 ) Address:# LOT 1 COSY COVE, Belcarra, Port Moody

March 09 V903884 $390,000 $0 0%
May 02 V903884 removed
May 25 V952163 $299,900 $-90,100 -23%

Assessment: No Assessment

Wow! Very rare one plus acre waterfront lot in Balcarra’s Cosy Cove, a development of 10 nature lots. Great western exposure with lots of sunshine and trees. Water access only with possible dock share, but you can hike in on the Jug Island trail – only 20-30 minutes. There are water rights to a well on an adjacent property. Great place for an almost in the city wilderness cottage. Not often can you find secluded local waterfront for under $300K.

#7 ) Address:1387 HOCKADAY ST, Hockaday, Coquitlam

June 18 V957150 $1,295,000 $0 0%
August 10 V957150 $1,195,000 $-100,000 -8%
September 15 V957150 $995,000 $-300,000 -23%

Assessment: $1,225,000

One of a kind full acre part of four-acre subdivision backing onto Coquitlam River. Quiet, dead-end street. Lovely 3-bedroom, 3-level split home with extra large master bedroom that features a patio. Partly remodelled in 1994. Extra large patio off family room. Private! Private! Private!

#6 ) Address:855 BLUE MOUNTAIN ST, Harbour Chines, Coquitlam

April 16 V943444 $949,000 $0 0%
April 18 V943444 $899,000 $-50,000 -5%
May 09 V943444 $879,000 $-70,000 -7%
Open House: May 20
Open House: May 27
Open House: Jun 03
Open House: Jun 10
Open House: Jun 16
June 18 V943444 removed
June 22 V957843 $799,900 $-149,100 -16%
Open House: Jun 23
Open House: Jun 24
Open House: Jun 30
Open House: Jul 01
July 23 V957843 removed
July 25 V963611 $799,000 $-150,000 -16%
August 08 V963611 $779,000 $-170,000 -18%
August 28 V963611 $749,000 $-200,000 -21%
Open House: Sep 09
September 12 V963611 $729,000 $-220,000 -23%
Open House: Sep 23

Assessment: $738,000

This is actually a great spot in Coquitlam and if they weren’t so obscenely greedy to begin with I’m sure they would have sold for more than they are currently asking

Prime Harbour Chines. Quality custom design & finish materials featured throughout this fine family home. Located on large nicely landscaped private lot. Freshly painted inside and out with many recent upgrades and renovations. Beautiful maple kitchen w/island and comfortable family room leads to huge new vinyl deck covered to enjoy year round. Spacious Master bedroom fit for a King has walk in closet and warm hardwood floors. Luxury main floor bath offers granite counters & jetted tub to relax. Bonus: Brand new basement kitchen, bath, recreation room w/separate entrance great for home office or mortgage helper, Truly one of kind home & property must see to appreciate. Ready to move in and enjoy now! Open Sun Sept 9 2-4pm

#5 ) Address:1370 PINETREE WY, Westwood Plateau, Coquitlam

March 09 V926604 $1,088,000 $0 0%
May 17 V926604 $1,029,000 $-59,000 -5%
Open House: May 26
Open House: May 27
Open House: Jun 02
June 14 V926604 removed
June 20 V957443 $899,000 $-189,000 -17%
Open House: Jun 30
August 09 V957443 $868,000 $-220,000 -20%
September 22 V957443 $828,000 $-260,000 -24%

Assessment: Building Unfinished

$260K and counting knocked off this new build

Brand new custom home on Prestige Westwood Plateau. City view from most of the rooms. Practical floor plan with quality construction. Hardwood flooring, granite counters, big picture view windows, covered decks. Main chef kitchen w/ expensive granite countertop, stainless steel appliances plus a Wok kitchen. 4 huge bedrooms upstairs with walk-in closets & wooden organizer. Fully finished basement with separate entrance, lots of windows, huge rec room, games room, bedroom & 2 bathrooms. Fenced yard with cedars & paving stones driveway. Walking distance to Pinetree Elementary and Secondary Schools, Douglas College, community centre. Close to Lafarge Lake and the future Evergreen line skytrain station.2-4pm open SAT 1376 & 1370

#4 ) Address:# 614 528 ROCHESTER AV, Coquitlam West, Coquitlam

March 23 V938821 $199,000 $0 0%
March 31 V938821 $189,000 $-10,000 -5%
April 05 V938821 $185,000 $-14,000 -7%
April 23 V938821 removed
April 26 V945578 $200,000 $0 0%
July 18 V945578 removed
July 25 V963470 $209,000 $0 0%
August 04 V963470 $199,000 $-10,000 -5%
August 18 V963470 $179,000 $-30,000 -14%
September 06 V963470 $174,900 $-34,100 -16%
September 19 V963470 $159,000 $-50,000 -24%

Assessment: $194,100

15 units sold in this condo last year for an average price of EQUAL to assessment.  This unit is currently listed 18% BELOW assessment

Location, Location, Location. This cozy 500 sq ft condo is steps from Lougheed Mall, Skytrain and every imaginable amenity. SFU Students take note; this has to be one of the easiest commutes to SFU and with a small downpayment you own instead of rent! Features include: insuite laundry, media room, billiard and exercise room with a bonus guest suite. Relax and enjoy the peace and quiet on your private top floor deck. Book a showing today for this quality built concrete condo, it will not disappoint.

#3 ) Address:# 301 2958 SILVER SPRINGS BV, Westwood Plateau, Coquitlam

March 09 V934557 $355,800 $0 0%
May 12 V934557 $448,888 $0 0%
May 15 V934557 $348,888 $-100,000 -22%
Open House: May 26
Open House: Jul 07
Open House: Jul 15
July 25 V934557 removed
July 28 V964105 $339,000 $-109,888 -24%

Assessment: $325,000

12 sales last year averaging 3% ABOVE assessment and this one is listed 4% ABOVE assessment

Welcome Home! Newly updated, spacious and bright 2 bedroom unit in Tamarisk by “Polygon”. This unit has all together for you to enjoy. Freshly painted walls carry out the stylish look of the newly installed hardwood floors in living and dining room. Bedrooms are really spacious, you can enjoy the functional floor plan of this home & get the most benefit of the indoor pool, exercise room and lovely party room. This complex is very much family-oriented and very safe to live in and enjoy the playgrounds garden and neighborhood. Very close to Coquitlam Shopping Centre, all level of schools, Douglas College, Aquatic Centre, Library & Lafarge Park are just walking distance. No age restrictions. Rentals allowed with no restrictions.

#2 ) Address:946 GATENSBURY ST, Harbour Chines, Coquitlam

June 08 V955283 $1,054,900 $0 0%
August 23 V955283 $794,600 $-260,300 -25%
Open House: Aug 25
Open House: Sep 09
Open House: Sep 15
Open House: Sep 16
Open House: Sep 23

Assessment: $711,900

They knock their initial price down by a whopping 25% and still get crickets

Updated home on an Estate sized lot in sought after Harbour Chines! This 4 bedroom, 2 bathroom Bungalow with basement sits on a 12,369 sqft park like property. A very short walk and your enjoying the ammenities of popular Como Lake! Need a suite? Separate basement entrance makes it possible! Also within walking distance; public, French Immersion, Catholic schools and public transportation. Bring your family to view this terrific home with a perfect yard for kids. New Rapid Transit, all levels of shopping and recreation just minutes away.

#1 ) Address:811 ROCHESTER AV, Coquitlam West, Coquitlam

July 12 V961620 $2,700,000 $0 0%
September 05 V961620 $1,995,000 $-705,000 -26%

Assessment: $1,030,000

Must be a crack house or at least the owners must be smoking crack to think that a 42 year old home on half an acre in Coquitlam that is assessed at just over $1 million should be listed for $2.7 million…  They have dropped the price to just below $2 million now but I predict that this home will be top of the weekly drop in future weeks

This rare gem is perfect for the active family…sports court for pickleball, basketball & hockey; heated inground pool, sweeping lawns for bocci ball, croquet & trampoline. Equally perfect for entertaining adult friends…9′ ceilings; solid hardwood floors; large kitchen with gentle Mediterranean cork floor, solid maple antique ivory cabinets, luxurious Italian granite counters & 6-burner gas range with 2 ovens and huge griddle; Jacuzzi, built-in BBQ, family room big enough for billiards or table tennis; tons of storage; over 5/8 acre of peaceful gardens in a private, quiet setting. AND walk to golf course! Features included – too many to list – please ask Realtor for info package.


3 responses to “Spotlight Tri-Cities – September 25, 2012

  1. Spiltbongwater September 26, 2012 at 7:33 am

    I think #3 they meant to lower the price but realtor had fat fingers and typed a 4 instead of a 3. See how it went 355,800 to 448,888 then 3 days later went to 348,888. WTF do these “professionals” get paid so much for anyway?

  2. bailinginbc September 26, 2012 at 9:44 pm

    One of the things that these “professionals” do that blows me away is not checking where their listing is showing on the map. Currently there are two listings in Furry Creek, which apparently is West Van, showing on the map in the back of beyond in the upper Squamish Valley. Anyone doing a map search on the mls will not know that these are listed. Seems that I’m the only one who’s noticed. The realtors and owners of these houses are too busy to check I guess.

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