Vancouver Price Drop

Documenting Vancouver real estate price movements

West Vancouver Spotlight – October 1, 2012

It’s been a month so once again here are the top 10 properties currently listed in West 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 23% drop to make this top 10 up 3% from last week.  The previous 4 months were 20%, 19%, 19% and 15%
  • 3 of 9 listings are now below assessment

#10 ) Address:1525 ERRIGAL PL, Canterbury, West Vancouver

March 14 V937025 $6,980,000 $0 0%
April 12 V937025 $5,980,000 $-1,000,000 -14%
July 20 V937025 removed
July 25 V963588 $5,380,000 $-1,600,000 -23%
Open House: Jul 26
Open House: Aug 26

Assessment: $4,581,000

Magnificent View Mansion, offering Enter luxury in this magnificent ocean&city view mansion.Built w/pride in workmanship.Impressive marble foyer w/open ceiling & peekaboo view of large indoor pool through etched glass window leads to games/media room. Main floor boasts open floor plan, large f/p, kitchen w/high end app.warm limestone flr,guest suite,den complete this spacious area.All BRs have own en suite. MBR has prvt deck&sitting area. No expense spared with lighting. Feature packed and exciting.

#9 ) Address:6121 GLENEAGLES DR, Gleneagles, West Vancouver

May 04 V947366 $3,898,000 $0 0%
June 06 V947366 $3,685,000 $-213,000 -5%
June 27 V947366 removed
June 30 V959385 $3,290,000 $-608,000 -16%
August 17 V959385 $2,999,000 $-899,000 -23%

Assessment: Building Unfinished

And the description still remains cutoff and incomplete… how does this sit like that for 5 months?  And yes, I have confirmed that the listing description has always been cutoff.  Just blows me away that the seller and the realtor don’t notice this on a $3 to $4 million dollar listed home.

Gorgeous new contemporary home in this most sought after West Vancouver waterfront neighbourhood. Backing on to the Gleneagles Golf Course, this custom home has been built with exacting standards and quality throughout. The Great Room is

#8 ) Address:1395 GORDON AV, Ambleside, West Vancouver

May 18 V950946 $2,388,000 $0 0%
Open House: Jun 02
Open House: Jun 03
Open House: May 31
Open House: Jun 10
June 18 V950946 removed
September 28 V973784 $1,799,000 $-589,000 -25%
Open House: Sep 30

Assessment: $1,685,000

Stunning transformation! This home has been completely and thoughtfully renovated recently from top to bottom including new windows, doors and floors. Fabulous open floor plan provides wide open living, dining and entertaining with an impressive well appointed kitchen with custom cabinets, granite and stainless. Enjoy the charming sunroom overlooking a fully fenced and landscaped garden with in ground sprinklers. A total of 4 bedrooms and 3 tastefully renovated bathrooms provide plenty of room for the family, including a recreation room with an additional fireplace downstairs. This corner lot provides the upmost in space and privacy. Lots of parking options with laneway access to a two car garage and open parking too. One of the best and most popular streets in Ambleside because it’s close to the best schools, shops and amenities West Vancouver has to offer. Priced to sell quickly – so call today.

#7 ) Address:1388 21ST ST, Ambleside, West Vancouver

April 25 V945353 $2,480,000 $0 0%
Open House: May 20
Open House: May 27
Open House: Jun 09
Open House: Jun 10
June 12 V945353 $2,090,000 $-390,000 -16%
Open House: Jun 17
Open House: Jun 24
Open House: Jul 01
Open House: Jul 08
Open House: Jul 15
July 11 V945353 removed
July 14 V961936 $2,090,000 $-390,000 -16%
Open House: Jul 22
Open House: Jul 29
July 31 V961936 $1,990,000 $-490,000 -20%
Open House: Aug 05
Open House: Aug 19
Open House: Sep 09
Open House: Sep 16
September 12 V961936 removed
September 15 V971460 $1,990,000 $-490,000 -20%
Open House: Sep 23
September 24 V971460 removed
September 30 V974315 $1,799,000 $-681,000 -27%
Open House: Sep 30

Assessment: $1,602,000

Absolutely amazing fully & newly renovated family home w/spectacular unobstructed ocean views from Vancouver’s Inner Harbour to UBC & Vancouver Island, centrally located “walking” distance to schools, shopping & West Van Rec Center! Thisamazing home has been exquisitely renovated top to bottom. The main floor features living room & family room, each w/fireplace & overlooking the stunning view, Gourmet kitchen with new cabinets, s/s appliances & counter tops, and formal dining room & den. The top floor features a huge master bedroom with vaulted ceilings, en-suite & dressing area, plus 3 additional bedrooms, while the lower level floor features a large rec room, 2 bedrooms and spa area with dry & steam sauna, plus hot tub.

#6 ) Address:3529 MATHERS AV, Westmount, West Vancouver

March 09 V924752 $4,188,888 $0 0%
April 12 V924752 removed
April 21 V944692 $3,980,000 $-208,888 -5%
May 26 V944692 $3,688,000 $-500,888 -12%
June 29 V944692 $3,288,000 $-900,888 -22%
September 25 V944692 $2,998,000 $-1,190,888 -28%

Assessment: $3,412,000

From $770K over assessment to now, $400K below assessment

A Sensational, almost new 5500 SQ FT, 5 bedroom, 8 bathroom home in sought after West Bay with good City and Ocean Views. Walk to Erwin Park Elementary School & the Beach. This luxury home features a large gourmet kitchen, large family room and elegant living and dining areas. The upper level features four bedroom suites including a lavish Master Suite with private patio overlooking the ocean. Enjoy a fully finished lower level with Games Room, Wine Room and Gym plus bedroom for nanny. Other features of this finely detailed home include beautiful hardwood floors, state-of-the art security system, hot tub, exercise room, wine cellar, triple garage, heated driveway. Best value in the Westmount/West Bay area…

#5 ) Address:5358 KEW CLIFF RD, Caulfeild, West Vancouver

March 09 V922782 $4,870,000 $0 0%
March 13 V922782 $4,380,000 $-490,000 -10%
April 03 V922782 $3,990,000 $-880,000 -18%
Open House: Jun 03
June 16 V922782 $3,750,000 $-1,120,000 -23%
July 14 V922782 removed
August 25 V968044 $3,468,000 $-1,402,000 -29%
Open House: Sep 09
Open House: Sep 23

Assessment: $2,437,000

Unique, sophisticated, quietly elegant, handcrafted, naturally beautiful- you’ll be captivated by this home & the lifestyle! Kew Cliff known as one of West Vancouver’s most sought after waterfront cul-de-sac. Situated on a private gated 20,000 sqft fully landscaped estate, this classic heritage style custom built residence has been designed using the highest attention to detail quality & finishing. Boasting over 6000? sqft on 3 levels, where all principal rooms open onto entertainment size concrete patios with amazing sunsets unobstructed ocean views of Passage Island, Bowen Island and out the mighty pacific to Vancouver Island & Nanaimo. Approximate House Size: 6169 sqft. Double Garage Size: 594 sqft.

#4 ) Address:5347 KEW CLIFF RD, Caulfeild, West Vancouver

March 09 V906191 $12,980,000 $0 0%
April 11 V906191 $9,980,000 $-3,000,000 -23%
June 14 V906191 removed
June 23 V958265 $8,998,000 $-3,982,000 -31%

Assessment: $8,286,000

$4 million drop and still over assessment

A magnificent luxury Waterfront home situated on one of West Vancouver’s most sought after streets. Offering over 5,300 sq. ft. of outstanding luxury & detail throughout on all 3 levels. Large entertainment size rooms including a feature curved staircase with wrought iron railings, all French doors leading onto spacious walk-out patios with wonderful outdoor swimming pool & jacuzzi. This beautifully appointed luxury home features a World Class International kitchen, separate den or office, theatre room, wine cellar & a simply gorgeous Master suite. Fully gated & landscaped with breathtaking views!

#3 ) Address:5540 PARTHENON PL, Eagle Harbour, West Vancouver

March 09 V930920 $2,998,000 $0 0%
April 04 V930920 $2,750,000 $-248,000 -8%
May 02 V930920 $2,498,000 $-500,000 -17%
May 25 V930920 removed
May 28 V952953 $2,349,000 $-649,000 -22%
Open House: Jun 16
July 27 V952953 removed
July 29 V964285 $2,000,000 $-998,000 -33%
Open House: Aug 05
Open House: Aug 11
Open House: Aug 19
Open House: Aug 26
Open House: Sep 01
Open House: Sep 08
Open House: Sep 16
Open House: Sep 23
Open House: Sep 30
September 26 V964285 removed
September 28 V974014 $2,000,000 $-998,000 -33%

Assessment: $1,836,000

Enjoy stunning views from this semi-waterfront 4 bedroom family home! This West Coast contemporary home features over 4,000 sq ft of spacious living area on 3 levels, walls of windows and balconies across each floor. Become an exclusive member of ‘P.P.O.A.’ and be a ‘participant owner’ of approximately 1/2 hectare of incredible waterfront property, in addition to this property. This is the only lot of the 15-lot subdivision that touches the private waterfront retreat. Access the property by a private roadway shared with only one neighbour. A great location close to many amenities, the Horseshoe Bay ferries and minutes to Eagle Harbour Elementary and Rockridge Secondary!

#2 ) Address:4611 WOODBURN RD, Cypress Park, West Vancouver

March 15 V937107 $3,388,000 $0 0%
April 11 V937107 $3,188,000 $-200,000 -6%
April 24 V937107 $2,888,000 $-500,000 -15%
May 01 V937107 $2,688,000 $-700,000 -21%
Open House: May 20
Open House: May 27
Open House: Jun 03
Open House: Jun 10
Open House: Jun 24
June 29 V937107 removed
July 02 V959849 $2,398,000 $-990,000 -29%
August 10 V959849 $2,198,000 $-1,190,000 -35%

Assessment: $2,279,000

This 58,806 sq.ft. (1.35 acre) property offers total privacy with awesome ocean views. The gated entrance leads to a private rock bluff setting overlooking the views from Lion’s Gate Bridge to Vancouver Island. This spacious 5615 sq. ft home offers 3 bedrooms, 3 bathrooms, vaulted ceilings, sun drenched decks and a master bedroom with spa like ensuite. Perfectly located near Caulfeild Village, Rockridge High School and Caulfeild Elementary. This home offers a 3 car garage and indoor swimming pool to complete the package.

#1 ) Address:1049 MILLSTREAM RD, British Properties, West Vancouver

March 09 V931437 $2,980,000 $0 0%
March 16 V931437 removed
March 19 V937982 $2,680,000 $-300,000 -10%
Open House: May 19
Open House: May 27
Open House: Jul 07
Open House: Jul 15
August 02 V937982 removed
August 04 V965166 $2,480,000 $-500,000 -17%
September 11 V965166 removed
September 27 V973552 $1,888,000 $-1,092,000 -37%
Open House: Sep 29
Open House: Sep 30

Assessment: $2,209,000

Sold Feb 3, 2011 for $1,575,000

Total Profit IF sold for list price: 92,964 transaction costs and 313,000 profit on sale = hoping for PROFIT of $220,036

This one is listed over $300K below assessment but also over $300K above what they paid for it a year ago.   Lots of spelling and grammar mistakes in the description… I’m thinking I’ll be seeing you again soon

BC assessment $2,200,000! View,view, view! This unbelievable value plus view home locates in the quiet and private British Property area. Breathtaking city, ocean & mountain views from almost every room. Sunny bright south facing. Tastefully renovated with deisgner’s colors, granite tiles throughout living, dining, family room & foyer. S/S appliances, granite counter tops, 2 gas fireplaces, 3 laundry rooms. High quality fininshing in a setting of total tranquility on 0.47 acres (20365sqft). Private yard onto the greenbelt. 4 bedrooms up plus a 2 bedroom & den self contained suite on ground level. You can’t miss out this one! Great public and private school catchment. First Open Sat/Sun Sept 29 & 30 2-5pm.


One response to “West Vancouver Spotlight – October 1, 2012

  1. yadi October 31, 2012 at 12:14 am

    thank you for the work, well done. this is what buyers as well as selleres need to know where they stand when buying or selling a property.

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