Vancouver Price Drop

Documenting Vancouver real estate price movements

Weekly Drop Metro Vancouver Detached – February 26, 2013

Here are the 10 detached properties in Metro Vancouver (Vancouver West, Vancouver East, Burnaby, Richmond, North Vancouver and West Vancouver) that changed their price or were relisted under a new MLS number the previous week AND have dropped the largest percentage overall from their original asking price.

4 properties are from West Vancouver, 3 from Richmond and 1 from Vancouver West, North Vancouver and Burnaby


#10 ) Address:4633 HEADLAND DR, Caulfeild, West Vancouver

April 30, 2008 V704254 $2,495,000 $0 0%
October 31, 2008 V704254 removed after 184 days
November 20, 2008 V744226 $2,195,000 $-300,000 -12%
February 15, 2009 V744226 $1,950,000 $-545,000 -22%
July 01, 2009 V744226 removed after 223 days
February 20, 2013 V991650 $1,898,000 $-597,000 -24%

v991650_11

Current Days on Market: 9 (0.02years)
Current ‘Official’ Days on Market: 9
2012 Assessment: $2,465,000
Desperation Score: 4.5

“olderchildren”, “adjoning”, “large romm sizes” – come on, it’s a $2 million dollar home, please learn to use spell check Penny Mitchell.  ” is ideal for empty nesters or for the family with olderchildren.” – I have young children so I guess I’ll pass then?  Why would you filter out a big chunk of your potential buyers?  If I see “ideal for empty nesters” and I have a family I stop reading there.  This is pretty basic stuff and no wonder this place is listed over 20% below assessment

Classic David Poskitt West Coast design home, situated in the heart of spectacular Caulfeild area. This beautifully appointed & meticulous, entertainment style home of 4300 sqft, is ideal for empty nesters or for the family with olderchildren. Some of the features include luxurious finishings throughout, vaulted ceilings, large romm sizes, hardwood floors, spacious country style kitchen with eating area and adjoning family room, formal living and dining rooms, gorgeous master suite, den, billiard room, games room and guest quarters. Caulfeild village, Rockridge Secondary, Caulfeild Elementary.


#9 ) Address:7940 GABRIOLA GT, Quilchena, Richmond

April 21, 2010 V823626 $938,000 $0 0%
May 18, 2010 V823626 $918,000 $-20,000 -2%
June 16, 2010 V823626 removed after 56 days
April 06, 2011 V879996 $1,198,000 $0 0%
June 13, 2011 V879996 removed after 68 days
October 14, 2012 V976669 $999,000 $-199,000 -17%
January 11, 2013 V976669 $965,000 $-233,000 -19%
February 19, 2013 V976669 removed after 128 days
February 22, 2013 V991953 $898,000 $-300,000 -25%

V9766690

Current Days on Market: 138 (0.38years)
Current ‘Official’ Days on Market: 7
2012 Assessment: $974,200
2011 Assessment: $1,078,600
2011 Last Sale: $1,130,000 on 23/Apr/2011
Total Loss IF sold for list price: 56,344 transaction costs and 232,000 loss on sale = LOSS of 288,344
Desperation Score: 12.6

Imagine buying a home for a little over a million dollars and then less than 2 years later hoping to sell it for a $300K loss.  But things are flat here so don’t worry about it.

Beautiful corner lot just steps from Quilchena Golf & dyke. Build your 3,600 sq.ft dream home. Great neighbourhood. Partially renovated with newer roof, double glazed windows, crown mouldings, new exterior paint. Very livable home in excellent location. Property sold as is.


#8 ) Address:1451 ANGUS DR, Shaughnessy, Vancouver West

March 28, 2010 V818026 $6,800,000 $0 0%
May 26, 2010 V818026 $6,488,000 $-312,000 -5%
July 28, 2010 V818026 $6,288,000 $-512,000 -8%
September 14, 2010 V818026 removed after 170 days
March 24, 2012 V939075 $11,880,000 $0 0%
October 11, 2012 V939075 $9,880,000 $-2,000,000 -17%
November 08, 2012 V939075 removed after 229 days
November 10, 2012 V979868 $9,880,000 $-2,000,000 -17%
January 31, 2013 V979868 removed after 82 days
February 20, 2013 V991398 $8,888,000 $-2,992,000 -25%

v991398_11

Current Days on Market: 342 (0.94years)
Current ‘Official’ Days on Market: 9
2012 Assessment: $8,384,000
2011 Assessment: $8,095,000
Desperation Score: 18.8

LOTS OF CAPS IN THIS $8,888,888.88 HOME.  No interior pictures, again seems like that is just lazy.  Also, it is “its” not “it’s”

PRESTIGIOUS FIRST SHAUGHNESSY LOCATION BY THE CRESCENT! RARE FIND BEAUTIFUL SOUTH FACING LOT WITH 28,520SQFT AND 200 FOOT FRONTAGE. Features over 10,040sqft of CLASSIC TUDOR MANSION and restored to it’s original CHARM, hardwood floor thru-out, total possible 9 bedrooms & den, 4 full bathrooms & 2 of half bathroom. ENTERTAINING SIZED MEDIA ROOM & RECREATION ROOMS. BEAUTIFUL PARK-LIKE GARDEN with secured fenced yard. CLOSE TO WELL KNOWN SCHOOL CATCHMENT, YORK HOUSE, ST GEORGES, UBC, SHOPPING, TRANSIT. MUST SEE!


#7 ) Address:225 NORMANBY CR, British Properties, West Vancouver

February 01, 2012 V928535 $4,888,000 $0 0%
January 01, 2013 V928535 removed after 335 days
February 21, 2013 V991667 $3,650,000 $-1,238,000 -25%

v991667_11

Current Days on Market: 394 (1.08years)
Current ‘Official’ Days on Market: 8
2012 Assessment: $3,307,000
Desperation Score: 6.4

25% and $1.2 million drop in one shot for this home after being listed for a year.  

Custom built, one owner, lavish 8,500 square foot VIEW estate exuding high end finishes throughout. A private driveway leads you to this immaculately maintained 7 bedroom home on a 18,600 square foot lot. Features include a 20 foot vaulted entry, large slab marble floors, radiant heating with HRV, elevator access to all floors, fabulous indoor swimming pool and Jacuzzi, large recreation room, home theatre, level backyard and 3 car garage plus ample parking for guests. This is a one of a kind mansion!


#6 ) Address:1401 DEMPSEY RD, Lynn Valley, North Vancouver

September 20, 2009 V788502 $2,150,000 $0 0%
December 04, 2009 V788502 $1,999,000 $-151,000 -7%
May 30, 2010 V788502 removed after 252 days
February 15, 2012 V931319 $2,080,000 $-70,000 -3%
March 28, 2012 V931319 $1,930,000 $-220,000 -10%
April 23, 2012 V931319 removed after 68 days
May 02, 2012 V946853 $1,749,000 $-401,000 -19%
December 01, 2012 V946853 removed after 213 days
February 20, 2013 V991447 $1,599,000 $-551,000 -26%

v991447_11

Current Days on Market: 380 (1.04years)
Current ‘Official’ Days on Market: 9
2012 Assessment: $1,311,000
2011 Assessment: $1,349,000
Desperation Score: 12.9

“once in a lifetime opportunity”, “The finest property in North Vancouver”…  listing brought to you by the awesomest realtor in the world

This is a once in a lifetime opportunity to own a stunning & fully updated heritage home on your own private park! Set on over an acre of land, this home is a true showpiece, all the modern conveniences with that sought afterheritage look & feel. High end kitchen, luxurious master suite, custom mill work throughout…this home is impressive from top to bottom. The finest property in North Vancouver.They don’t make them like this anymore. Don’t miss your opportunity to call this exclusive residence ‘home.’ Open Sun Feb 24th 2-4.


#5 ) Address:1795 19TH ST, Ambleside, West Vancouver

July 30, 2008 V725582 $1,469,000 $0 0%
October 01, 2008 V725582 $1,389,000 $-80,000 -5%
November 11, 2008 V725582 $1,289,000 $-180,000 -12%
April 30, 2009 V725582 removed after 274 days
September 16, 2011 V910222 $2,985,000 $0 0%
September 28, 2011 V910222 $2,795,000 $-190,000 -6%
October 26, 2011 V910222 removed after 40 days
October 28, 2011 V917526 $2,595,000 $-390,000 -13%
December 06, 2011 V917526 removed after 39 days
February 08, 2012 V930004 $2,488,000 $-497,000 -17%
April 02, 2012 V930004 removed after 54 days
April 04, 2012 V940799 $2,298,000 $-687,000 -23%
May 09, 2012 V940799 removed after 35 days
September 12, 2012 V970497 $2,198,000 $-787,000 -26%
December 01, 2012 V970497 removed after 80 days
February 21, 2013 V991798 $2,198,000 $-787,000 -26%

v991798_11

Current Days on Market: 532 (1.46years)
Current ‘Official’ Days on Market: 8
2012 Assessment: $2,083,000
Desperation Score: 16.7

Sounds good but again no interior pics – it’s been listed for a year and a half… take some pictures!!!

A spectacular newly remodeled hm sit on a .59 acre estate feat 3000 sqft. Bright, open flrpln w/exceptional quality & detail, miles of tiled & H/W flrs, custom millwork, beautiful picture windows, lg entertainment areas, sundrenched patios overlooking level yard & sports court, manicured gardens & babbling brook. Stunning new custom island kit, brkfst bar & top appl, new master suite w/fireplace, large W/I closet & gorgeous new spa-like ensuite, elegant foyer & powder rm & lg living & dining areas for entertaining. Down is full walkout & has 3 guest bedrooms, lg rec rm, plenty of storage, fresh bthrms & 2-car garage. Walking dist to Ambleside Village, beaches & schools. Magnificent remodeled residence!


#4 ) Address:7340 BARKERVILLE CT, Broadmoor, Richmond

August 10, 2011 V904082 $1,480,000 $0 0%
August 24, 2011 V904082 $1,298,000 $-182,000 -12%
November 23, 2011 V904082 removed after 105 days
April 18, 2012 V944022 $1,198,000 $-282,000 -19%
October 02, 2012 V944022 $1,088,000 $-392,000 -26%
November 01, 2012 V944022 removed after 197 days
February 01, 2013 V988249 $1,198,000 $-282,000 -19%
February 26, 2013 V988249 $1,080,000 $-400,000 -27%

v988249_11

Current Days on Market: 569 (1.56years)
Current ‘Official’ Days on Market: 28
2012 Assessment: $1,077,600
2011 Assessment: $1,074,800
Desperation Score: 26.3

Listed for a year and a half and just coming off a relisting where they raised the price by $110K…  

Broadmoor! Prime Richmond location, close to Maple Lane Primary School and London Secondary School and all levels of schools. Easy access to transportation. Well maintained, spacious 3-bedroom rancher with 2 full baths. 1-year old roof changed in 2012. Good holding property. Live & build potential. It’s a must SEE!


#3 ) Address:1225 EASTLAWN DR, Brentwood Park, Burnaby

February 11, 2011 V868675 $898,900 $0 0%
April 18, 2011 V868675 removed after 66 days
January 22, 2012 V927179 $1,368,000 $0 0%
May 01, 2012 V927179 $1,329,000 $-39,000 -3%
June 16, 2012 V927179 $1,299,000 $-69,000 -5%
July 16, 2012 V927179 removed after 176 days
July 25, 2012 V963482 $1,268,000 $-100,000 -7%
October 25, 2012 V963482 $1,160,000 $-208,000 -15%
November 27, 2012 V963482 removed after 125 days
November 29, 2012 V981454 $1,068,000 $-300,000 -22%
February 21, 2013 V981454 $998,000 $-370,000 -27%

v981454_11

Current Days on Market: 404 (1.11years)
Current ‘Official’ Days on Market: 92
2012 Assessment: $967,000
Desperation Score: 27.5

“yhan”, “mortage”.  “very tasteful for a grown-up family” – again with the buyer filtering.  This one has just been pulled from MLS so not sure if it sold or expired – I’m very highly leaning towards the latter.  UPDATE: Natalie let me know that this did in fact sell

This totally renovated functional layout home in the quiet popular North Burnaby. It’s a 3550 sq ft large solid house with more yhan 8000 sq ft lot. very tasteful for a grown-up family with wonderful mortage helper. Move-in condition, brand new granite counter tops, S/S appliances, new paint inside and out. H/W floors, new windows, door and new roof. Beautiful very private backyard with swimming pool. Close to nice schools and transit. A must see! Open House Sat & Sun, 2-4pm.


#2 ) Address:11520 LAPWING CR, Westwind, Richmond

December 25, 2009 V801653 $1,350,000 $0 0%
April 01, 2010 V801653 removed after 97 days
November 12, 2010 V858270 $1,150,000 $-200,000 -15%
January 20, 2011 V858270 removed after 69 days
May 28, 2011 V890796 $1,275,000 $-75,000 -6%
July 26, 2011 V890796 removed after 59 days
January 25, 2012 V927394 $2,050,000 $0 0%
March 03, 2012 V927394 $1,890,000 $-160,000 -8%
October 18, 2012 V927394 $1,595,888 $-454,112 -22%
January 01, 2013 V927394 removed after 342 days
January 27, 2013 V987465 $1,580,000 $-470,000 -23%
February 20, 2013 V987465 $1,480,000 $-570,000 -28%

v987465_11

Current Days on Market: 401 (1.10years)
Current ‘Official’ Days on Market: 33
2012 Assessment: $1,321,000
2011 Assessment: $1,294,000
Desperation Score: 26.3

“BRING ALL OFFERS! This home must and will sell.”  

WESTWIND – “Think” TUSCANY – Italian Villa, Morocco mystic, east Asian influence. Knock out unique and a FABULOUS property. Quick & easy access to viewing. MUST SEE – Interior delights. Your eyes will pop with excitement & appreciation. Change colors or change arches to square … you can LIVE in your DREAM residence. Excellent floor plan for private home based business or even a side suite on main with separate entrance. 5 Ensuited Bedrooms including one on main. Outstanding Entertainment deck with lovely view of the mountains across the green fields. Come visit & be prepared to be WOWED! BRING ALL OFFERS! This home must and will sell.


#1 ) Address:7210 ARBUTUS PL, Whytecliff, West Vancouver

June 15, 2007 V653181 $7,950,000 $0 0%
February 21, 2008 V653181 $7,500,000 $-450,000 -6%
September 01, 2008 V653181 removed after 444 days
September 09, 2008 V731394 $7,500,000 $-450,000 -6%
November 01, 2008 V731394 removed after 53 days
January 30, 2010 V806903 $6,195,000 $-1,755,000 -22%
August 07, 2010 V806903 removed after 189 days
March 09, 2011 V874018 $5,588,000 $-2,362,000 -30%
June 16, 2011 V874018 removed after 99 days
June 24, 2011 V895936 $5,588,000 $-2,362,000 -30%
September 13, 2011 V895936 removed after 81 days
February 15, 2012 V931521 $5,888,000 $-2,062,000 -26%
June 01, 2012 V931521 removed after 107 days
June 13, 2012 V955985 $5,500,000 $-2,450,000 -31%
October 08, 2012 V955985 removed after 117 days
October 11, 2012 V975787 $5,500,000 $-2,450,000 -31%
February 16, 2013 V975787 removed after 128 days
February 20, 2013 V991522 $5,500,000 $-2,450,000 -31%

v991522_11

Current Days on Market: 723 (1.98years)
Current ‘Official’ Days on Market: 9
2012 Assessment: $4,250,000
Desperation Score: 12.3

They have come down $88K in 2 years…  Realistically they could probably drop $1.5 million from the price and still have the realtor double checking to see if their phone is turned on

This absolutely gorgeous waterfront home is situated on an over 24,000 sq.ft. property. Offering 6 bedrooms, 7 bathrooms, 5969 sq.ft. of luxurious living space, and spectacular views from every room. This stunning home has complete privacy with 156 feet of waterfront and a large patio at the water’s edge. Just steps from Whytcliffe Park with a feeling of tranquility and peace like no other part of West Vancouver and only minutes from shopping, schools, recreation and much more. This is truly an incredible opportunity to own a waterfront estate in an incredible neighbourhood.

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14 responses to “Weekly Drop Metro Vancouver Detached – February 26, 2013

  1. Many Franks February 28, 2013 at 9:16 am

    “Think TUSCANY – Italian Villa, Morocco mystic, east Asian influence.” Then open your eyes, put down the hookah, and experience pacific northwest february drizzle at the suburban soul-death that is Steveston and Railway in Richmond. Seriously, Greater Vancouver, I love you — but you aren’t doing yourself many favours with these nutty comparisons.

    I think this one has to be a record, mashing three continents together in the same sentence.

    • Real Estate Tsunami February 28, 2013 at 12:38 pm

      Yeah, #2 is odd.
      The building is an ugly red box, which has been empty for the last 2 years.
      I think the price will have to drop at least another 200k.

  2. ex-kitsie February 28, 2013 at 9:31 am

    I appreciate your comments and wonder, as you do, about the level of care these realtors put into their attempts at selling. My personal pet peeve is “guest bedrooms” as in the #5 descriptor … are they just not bedrooms in a house?

    • an observer February 28, 2013 at 9:42 am

      That’s a good point! “Look honey, this place has a guest bedroom! We can have guests come and stay over!!!”

      • Many Franks February 28, 2013 at 10:02 am

        Perhaps not applicable to this listing, but “guest bedroom” often means “someone could probably sleep there, but they wouldn’t want to repeat the experience.” Just like “den could be converted into 2nd bedroom” means “small, windowless room suitable for hosting a kidnapping” and “mortgage helper garden suite rents for $1200” means “we’ve drywalled the crawlspace and face insolvency if we can’t find a foreign student to rip off.”

  3. bailinginbc February 28, 2013 at 10:51 am

    Is it just me or would living in number #7 kind of like be living in an airport?

  4. Real Estate Tsunami February 28, 2013 at 12:34 pm

    Snarky is back.
    Thanks for my morning entertainment.

  5. Natalie February 28, 2013 at 12:45 pm

    1225 Eastlawn is sold 🙂

  6. Seeking knowledge... February 28, 2013 at 1:58 pm

    #6
    “It’s once in a lifetime…” because that’s how long the regret of buying it will linger and just as long to pay it off.

  7. Ray February 28, 2013 at 5:20 pm

    #1 has 6 MLS numbers at $5.5 million over years and years. I guess I just don’t get it. What are the odds of it selling for $5.5 million on the 7th MLS number?

  8. Matt February 28, 2013 at 5:53 pm

    It’s unbelievable the shit that they try to sell for millions of dollars in this province. You need to have your head read if you buy real estate in the lower mainland.

  9. Advoc8 February 28, 2013 at 8:20 pm

    “Sounds good but again no interior pics – it’s been listed for a year and a half… take some pictures!!!”

    At least bring a rendering of what the rooms could look like…

    I’m also amused at the thought of marketing $2 million West Vancouver homes as empty-nesters. What kind of multi-zillionaire hasn’t put away enough to fund retirement in the lifestyle they’re accustomed to and thus would have to downsize?

    (Wait, this is Vancouver at the top of a screwy real estate bubble and iffy-future Canadian economy. Maybe the realtor is actually using some foresight.)

  10. JG March 1, 2013 at 10:27 am

    Check out the listing below, I’m so ready to pull out my cheque book and drop $2M
    http://www.realtor.ca/propertyDetails.aspx?propertyId=12878245&PidKey=-636712014

    • Exurban March 2, 2013 at 4:22 pm

      Checked it. Ingoddamncredible. There aren’t even any laneways in that block, so access of any kind is strictly from 41st. 65 x 140. I suppose it’s only actually cashable as land for a condo development, but how much assembly and city hall lobbying would that take?

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