Vancouver Price Drop

Documenting Vancouver real estate price movements

North Vancouver Spotlight – November 2, 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.

Some Highlights

  • It takes a 20% drop to make this top 10.  The previous 4 months were 20%, 20%, 18% and 15%
  • 3 of 10 listings are now below assessment

#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, 15
July 28 V933850 $999,000 $-251,000 -20%
Open House: Aug 05, 12, 25
Open House: Sep 16, 23, 30
Open House: Oct 07, 14, 21

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 Oct 21 2-4 pm

#9 ) 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%
October 03 V970177 removed
October 13 V976453 $1,588,000 $-400,000 -20%

Assessment: $1,027,000

Custom build Family Home on a substantial estate with private surrounding by district greenbelt. This 3,600 square foot ocean view home along the Burrard Inlet features tile roof, large master with deluxe ensuite, hardwood flooring, privateyard, deck, patio garden shed, etc. Close to Cates Park, Deep Cove, Mt. Seymour, Dollarton Shopping Centre, and schools (Seycove Secondary, Cove Cliff Elementary, Dorothy Lynas Elementary). Convenient location with public transit just half a block away, 10 minutes drive to Vancouver.

#8 ) Address:# 303 157 E 21ST ST, Central Lonsdale, North Vancouver

March 09 V927850 $374,500 $0 0%
April 13 V927850 $359,900 $-14,600 -4%
May 15 V927850 removed
May 26 V952542 $349,900 $-24,600 -7%
Open House: May 27
Open House: Jun 17, 24
Open House: Jul 21
August 03 V952542 $339,900 $-34,600 -9%
September 02 V952542 removed
October 03 V974513 $299,000 $-75,500 -20%
Open House: Oct 06

Assessment: $310,100

2 sales here last year averaging 11% ABOVE assessment and this unit is currently listed at 4% BELOW assessment

Why rent when you can own for less? Top floor, corner unit with beautiful mountain views. 2 bedrooms and 1 bathroom. 950 square feet and renovated from head to toe including new kitchen with maple cabinets, stainless steel appliances, European washer/dryer, new flooring, bathroom, drywall, lighting and paint. Large living room to accommodate full sized furniture and 2 spacious bedrooms. Located in Central Lonsdale within an easy stroll to the Rec Center, shopping and transit. 1 parking stall and storage locker. No Elevator – walk up.

#7 ) Address:3929 CAPILANO RD, Capilano Highlands, North Vancouver

July 21 V963163 $1,600,000 $0 0%
October 20 V963163 $1,250,000 $-350,000 -22%

Assessment: $941,900

Rare find. Half Acre property bordering on Capilano River natural untouched wilderness, very private. Flat level driveway leads to this oasis of privacy and nature. The home has been maintained with new roof this year. Good accomodation.Close to Handsworth & Cleveland schools, Transit, Recreation and the ever popular Edgemont Village. Fish from your own backyard. Call now to view this opportunity of a lifetime. Enjoy as is or build your dream mansion on this 22,259 sq ft lot (+/-5%)

#6 ) Address:1901 GLENAIRE DR, Pemberton, North Vancouver

August 29 V968365 $1,050,000 $0 0%
October 30 V968365 $818,000 $-232,000 -22%

Assessment: $784,000

Very livable home in this desirable area packed with amenities such as parks, riverside walks, shopping, transit access, new retail plaza & community center coming along with new residential high rise developments & senior facilities. Theselots are viewed as prime for redevelopment to higher density residential uses to compliment the new Village Center practically adjoining this quiet & well treed street. House has real hardwood floors & is in good condition. Rents in this area are quite high if used as a holding property. Perfect for holding or make application immediately for rezoning. Other lots and assembly into large sites available. OCP plans & info available. Call LS for details & other opportunities.

#5 ) Address:4507 CEDARCREST AV, Canyon Heights, North Vancouver

June 28 V959011 $1,325,000 $0 0%
August 04 V959011 $1,250,000 $-75,000 -6%
August 25 V959011 $1,175,000 $-150,000 -11%
September 19 V959011 $1,125,000 $-200,000 -15%
October 06 V959011 $1,075,000 $-250,000 -19%
October 27 V959011 $1,025,000 $-300,000 -23%

Assessment: $954,500

Canyon Heights 2 level, 4 bedroom, 2 bathroom 2,100 sq/ft family home on a large, private lot located on a quiet, low traffic street. Offering an L-shaped dining room and living room with wood burning fireplace, vaulted ceilings, and French doors to a covered deck. Completing the main is a kitchen, 4 piece bathroom, and 2 bedrooms. The suite potential, walk-out lower level offers a recreation room, two bedrooms, 4 piece bathroom, large utility room, and plenty of storage. Featuring a partially treed, private lot, with peek-a-boo view potential. Ideal to renovate, rent and hold, or redevelop. Ideal location minutes to Edgemont Village, and just a short walk to Canyon Heights Elem. and Handsworth Sec. Schools. Sold As Is, Where Is.

#4 ) 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!!!

#3 ) 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%
Open House: Sep 29
Open House: Sep 30
Open House: Oct 28
Open House: Nov 04

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 Nov. 4th, 2-4pm.

#2 ) Address:1038 KILMER RD, Lynn Valley, North Vancouver

March 09 V931691 $1,465,000 $0 0%
May 02 V931691 removed
May 04 V947739 $1,298,000 $-167,000 -11%
Open House: Jun 02
Open House: Jun 30
September 24 V947739 removed
October 04 V975050 $1,049,000 $-416,000 -28%
Open House: Nov 04

Assessment: $1,213,000

This 4000 sq ft home features 5 bedrooms, 5 baths which include large open living spaces throughout the house. The home takes in a view from most rooms, which are virtually unobstructed from as far south as White Rock, Burnaby Mountain & Mt. Baker. The large kitchen has lots of cupboard space (maple cabinets, slate floors w/radiant heat, granite counters). Four good size bedrooms and den are on the upper floor. Other bonuses are large double car garage, a registered 1 bedroom suite, large private deck in the rear with a hot tub, very private low maintenance yard and all on a quiet cul-de-sac with easy walking distance to schools, transit and shopping.

#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!


5 responses to “North Vancouver Spotlight – November 2, 2012

  1. Landbaron November 2, 2012 at 8:21 pm

    Sure to see #1 for a while longer, that’s an insane price even with the drops!
    1/2 acre in Deep Cove, C’mon…

  2. bailinginbc November 2, 2012 at 9:51 pm

    What’s with the comment on #7? Apparently a “Dream home” is not enough anymore, now we all have to own a “Dream mansion”

  3. Bo Xilai November 3, 2012 at 10:39 am

    RE: #1 in North Van… Who lists their property for double the assessed value and thinks they will get a sale? Obviously someone D-E-L-U-S-I-O-N-A-L…

    • Landbaron November 4, 2012 at 4:23 pm

      “taking 6 painstaking yrs to perfect”

      I think the seller has way too much sentimental value added to the property and really is delusional. What can $8mil buy in sunny LA with supermodels as neighbors vs. dark, rainy North Van? I know where I would buy if I had that kind of cash 😉

  4. Vulture Fun November 3, 2012 at 10:34 pm

    Great work, Observer. Have you been featured by any mainstream media places? If not, it’s only a matter of time. You are regularly blowing my mind. 55% off. Really? Wow. Thanks for all you do.

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