Vancouver Price Drop

Documenting Vancouver real estate price movements

West Vancouver Spotlight – June 14, 2013

Here are the top 10 most desperate properties in West Vancouver

The formula attempts to determine the level of desperation for a particular home by looking at price drops and relistings and weighting them based on the size of the drop and how recently it happened.


#10 ) Address:365 KEITH PL, Cedardale, West Vancouver

January 22, 2012 V927204 $2,488,000 $0 0%
February 07, 2012 V927204 removed after 16 days
February 15, 2012 V931427 $2,399,000 $-89,000 -4%
April 03, 2012 V931427 removed after 48 days
May 17, 2012 V950670 $2,398,000 $-90,000 -4%
June 06, 2012 V950670 $2,349,000 $-139,000 -6%
June 16, 2012 V950670 $2,298,000 $-190,000 -8%
August 24, 2012 V950670 removed after 99 days
April 17, 2013 V1001603 $2,398,000 $-90,000 -4%
May 07, 2013 V1001603 $2,348,000 $-140,000 -6%
May 21, 2013 V1001603 $2,298,000 $-190,000 -8%
June 07, 2013 V1001603 $2,198,000 $-290,000 -12%

v1001603_1

Current Days on Market: 59 (0.16years)
Current ‘Official’ Days on Market: 59
2012 Assessment: $1,998,000
Desperation Score: 33.6

AKING PRICE IS LESS THAN PREVIOUSLY ACCEPTED OFFER PRICE!” – a typo and some ALL CAPS NEWS.  “yard is partly beautifully landscaped” – and partly horribly landscaped I suppose?  They pulled the listing last June and then relisted for $100K more in April

Spectacular 13yr young custom home with LEGAL SUITE in a quiet CDS with newer homes, NO WIRES. Enter in the double volume foyer and be impressed. This fantastic 4,408 sq ft home has 5 bedrooms/5 bathrooms, high ceilings, great finishes, wide plank hardwood floors, radiant heat throughout, flat driveway and alarm system and is wired for sound. The low maintenance 18,818 sq ft yard is partly beautifully landscaped (with irrigation system) and the remainder is in a greenbelt sloping down to Brothers Creek; ultimate privacy, less yard work! Sit on your spacious patio overlooking the beautiful yard and lush greenbelt and enjoy the sounds of the babbling creek. Ideal central location near Park Royal/Lions Gate bridge, schools, transit, Capilano Regional Park, trail to the seawall and not too close to the highway. AKING PRICE IS LESS THAN PREVIOUSLY ACCEPTED OFFER PRICE! Great value-great home. OPEN SUNDAY 16 JUNE 2-4. Signs from Taylor Way into Keith Road (first traffic light up Taylor Way from Marine Drive)


#9 ) Address:4717 WOODGREEN DR, Cypress Park, West Vancouver

June 20, 2007 V654185 $1,849,000 $0 0%
June 26, 2007 V654185 removed after 6 days
July 28, 2007 V661274 $1,749,000 $-100,000 -5%
August 30, 2007 V661274 removed after 33 days
July 22, 2012 V963354 $2,338,000 $0 0%
September 11, 2012 V963354 $2,260,000 $-78,000 -3%
September 20, 2012 V963354 $2,175,000 $-163,000 -7%
October 03, 2012 V963354 $1,998,000 $-340,000 -15%
January 01, 2013 V963354 removed after 163 days
January 05, 2013 V983579 $1,998,000 $-340,000 -15%
March 08, 2013 V983579 removed after 62 days
April 04, 2013 V998933 $1,998,000 $-340,000 -15%
June 06, 2013 V998933 removed after 63 days
June 07, 2013 V1011540 $1,898,000 $-440,000 -19%

v1011540_1

Current Days on Market: 328 (0.90years)
Current ‘Official’ Days on Market: 8
2012 Assessment: $2,030,000
Desperation Score: 34.2

This home has been within $100K of it’s current price for over 8 months after $340K of drops last year.  Currently listed for 6% below assessment

This home is stunning from the Cherry floors to the granite and stainless kitchen. Features include 4,190 sq. ft. of living space, 4 bedrooms up including a stunning master ensuite, huge decks, a potential nanny suite down and a 3 car garage. The family room is huge opening off the kitchen and out to a south-facing covered patio. The layout is fantastic and designed for families. Just steps to parks and trails and minutes to Caulfeild and Rockridge schools. A quality home that is only 10 years old.


#8 ) Address:5968 MARINE DR, Eagleridge, West Vancouver

October 26, 2011 V917255 $9,800,000 $0 0%
November 15, 2011 V917255 $8,900,000 $-900,000 -9%
February 01, 2012 V917255 $8,550,000 $-1,250,000 -13%
March 31, 2012 V917255 removed after 157 days
April 05, 2012 V941399 $7,900,000 $-1,900,000 -19%
July 09, 2012 V941399 removed after 95 days
July 13, 2012 V961757 $7,200,000 $-2,600,000 -27%
August 22, 2012 V961757 $6,900,000 $-2,900,000 -30%
January 10, 2013 V961757 removed after 181 days
January 17, 2013 V985358 $6,900,000 $-2,900,000 -30%
February 20, 2013 V985358 removed after 34 days
February 28, 2013 V992869 $5,980,000 $-3,820,000 -39%

v992869_1

Current Days on Market: 598 (1.64years)
Current ‘Official’ Days on Market: 107
2012 Assessment: $4,686,000
Desperation Score: 35.4

Down 39% and close to $4 million in a little over a year and a half

Magnificent Waterfront Luxury Home with spectacular Ocean and Island views and private oceanside terraces…Exceptional quality and design with many luxury appointments including gourmet kitchen, large Master Suite, three additionalbedroom suites, media room, wine room, elevator and covered outdoor heated sitting area with fireplace and hot tub…


#7 ) Address:3810 MARINE DR, West Bay, West Vancouver

October 29, 2006 V619157 $15,950,000 $0 0%
April 24, 2007 V619157 removed after 177 days
March 11, 2009 V756184 $30,000,000 $0 0%
April 01, 2010 V756184 removed after 386 days
September 17, 2010 V850547 $30,000,000 $0 0%
June 03, 2011 V850547 removed after 259 days
June 08, 2011 V892922 $30,000,000 $0 0%
January 01, 2012 V892922 removed after 207 days
January 19, 2012 V926362 $37,900,000 $0 0%
February 01, 2013 V926362 removed after 379 days
February 03, 2013 V988782 $37,900,000 $0 0%
March 07, 2013 V988782 $28,888,000 $-9,012,000 -24%
April 09, 2013 V988782 removed after 65 days
April 13, 2013 V1000930 $19,888,000 $-18,012,000 -48%

v1000930_1

Current Days on Market: 1557 (4.27years)
Current ‘Official’ Days on Market: 63
2012 Assessment: $6,768,500
Desperation Score: 36.3

Don’t recognize this property?  This is the infamous fake house that was making the rounds in the media a couple of months ago as the most expensive home in Canada complete with fake gold pictures that were passed off as being the current property which happens to be an old home.  They were exposed in the blogosphere and ridiculed and the realtor denied any wrong doing, quickly tried to edit and remove pictures and the media conveniently forgot about it.  The Whispers Blog had the full story, here is a link to catch you up:

http://whispersfromtheedgeoftherainforest.blogspot.ca/2013/02/fake-condo-line-ups-fake-press-photo.html

I wonder if there will be a followup story in the media about the biggest asking price drop in Canadian history for a residential sale?  $18 million and counting.  What has also been dropped are the fake house pictures and realtor Laura McLaren who was the master mind of this debacle.  

This one could be a 75%+ dropper quite easily and has already listed for well over 4 years

Exclusive, private, 34,000 +/- sqft offering approximately 400 +/- feet of waterfront. Surrounded by mature landscaping, an ideal loacation for a beautiful residence with unobstructed exposure to the picturesque waterfront, harbour and cityscapes…Please call for more information..Once in a lifetime opportunity!


#6 ) Address:555 INGLEWOOD AV, Cedardale, West Vancouver

July 25, 2007 V660621 $1,135,000 $0 0%
September 26, 2007 V660621 $1,085,000 $-50,000 -4%
November 20, 2007 V660621 removed after 118 days
November 23, 2007 V678838 $1,049,000 $-86,000 -8%
January 29, 2008 V678838 removed after 67 days
January 18, 2012 V925985 $3,188,000 $0 0%
April 04, 2012 V925985 $3,088,000 $-100,000 -3%
May 08, 2012 V925985 removed after 111 days
May 11, 2012 V949526 $3,288,000 $0 0%
June 02, 2012 V949526 $2,880,000 $-408,000 -12%
September 24, 2012 V949526 removed after 136 days
September 27, 2012 V973687 $2,799,000 $-489,000 -15%
October 19, 2012 V973687 $2,488,000 $-800,000 -24%
March 05, 2013 V973687 removed after 159 days
March 14, 2013 V995438 $2,398,000 $-890,000 -27%
June 07, 2013 V995438 $2,298,000 $-990,000 -30%

v995438_1

Current Days on Market: 514 (1.41years)
Current ‘Official’ Days on Market: 93
2012 Assessment: $1,585,000
2011 Assessment: Unfinished at time of assessment
Desperation Score: 37.7

“Open house March 17, 2-4” – oh wait… Down close to a million and 30% on this new build.  Lot was worth over a million way back in 2007 and I bet this home came close to another million all-in to demolish, plan and build.  Already they would have been much better off selling the lot

Magnificent brand new 4 bedroom 5 bath architecturally designed custom built home completed in 2012 by a builder for himself (no HST) No expense spared, the quality of this home is amazing. Wonderful open plan for entertaining features include polished granite, hardwood floors, gorgeous European contemporary style kitchen with Miele appliances and Caesar stone counters, beautifully designed bathrooms, high quality mill work throughout with solid core fir doors and window frames, radiant floor heat powered by a high efficiency Viessman boiler and recessed lighting. This home located centrally in West Vancouver is very close to some of West Vancouver’s best schools, Park Royal Shopping and with easy access to downtown. Don’t wait to view this wonderful home. Open house March 17, 2-4


#5 ) Address:5935 MARINE DR, Eagleridge, West Vancouver

April 07, 2011 V880585 $5,288,000 $0 0%
April 21, 2011 V880585 $4,998,000 $-290,000 -5%
June 14, 2011 V880585 $4,498,000 $-790,000 -15%
June 20, 2011 V880585 removed after 74 days
June 23, 2011 V895870 $4,498,000 $-790,000 -15%
September 02, 2011 V895870 removed after 71 days
October 21, 2011 V916656 $4,898,000 $-390,000 -7%
January 23, 2012 V916656 removed after 94 days
February 08, 2012 V930233 $4,298,000 $-990,000 -19%
April 12, 2012 V930233 $3,998,000 $-1,290,000 -24%
August 01, 2012 V930233 removed after 175 days
August 10, 2012 V965867 $3,888,000 $-1,400,000 -26%
November 16, 2012 V965867 removed after 98 days
February 28, 2013 V992691 $3,998,000 $-1,290,000 -24%
April 25, 2013 V992691 removed after 56 days
April 29, 2013 V1003794 $2,999,900 $-2,288,100 -43%
May 06, 2013 V1003794 removed after 7 days
May 21, 2013 V1006856 $3,150,000 $-2,138,000 -40%

v1006856_1

Current Days on Market: 800 (2.19years)
Current ‘Official’ Days on Market: 25
2012 Assessment: $2,532,000
Desperation Score: 39.5

Even after a recent $150K price increase this place still makes #5 on the list after over 2 years on the market

This luxury, 3 level estate home of approximately 5,000 sq. ft. is situated in a very private setting with outstanding south/southwest ocean views from this approximately 14,000 sq.ft, gated property. Enter into a grand foyer. Main level features include gourmet chef’s kitchen, large, open eating area, pantry and adjoining family/media room. Large, open dining and living room are perfect for entertaining. Upper level features a spacious master bedroom with cut granite fire place, 6 pc ensuite, walk-in closet, study and private balconies. 3 additional bedrooms with en-suites. Lower level has a theatre room, custom wine cellar, guest suite and mud room off the large 2 car garage. Incredible ocean views and sunsets from the private terraces for a perfect entertainment setting complete with a lovely negative edge outdoor pool and hot tub. Too many features to list. Minutes to Caulfield Village, Thunderbird Marina and Gleneagles Golf Course and Horseshoe Bay. Don’t miss out!


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

April 25, 2012 V945353 $2,480,000 $0 0%
June 12, 2012 V945353 $2,090,000 $-390,000 -16%
July 11, 2012 V945353 removed after 77 days
July 14, 2012 V961936 $2,090,000 $-390,000 -16%
July 31, 2012 V961936 $1,990,000 $-490,000 -20%
September 12, 2012 V961936 removed after 60 days
September 15, 2012 V971460 $1,990,000 $-490,000 -20%
September 24, 2012 V971460 removed after 9 days
September 30, 2012 V974315 $1,799,000 $-681,000 -27%
January 01, 2013 V974315 removed after 93 days
January 06, 2013 V983742 $1,880,000 $-600,000 -24%
May 30, 2013 V983742 removed after 144 days
June 06, 2013 V1010657 $1,785,000 $-695,000 -28%

v1010657_1

Current Days on Market: 416 (1.14years)
Current ‘Official’ Days on Market: 9
2012 Assessment: $1,740,000
2011 Assessment: $1,602,000
Desperation Score: 39.6

They tried bumping up their price recently but apparently didn’t get the news flash that this doesn’t work.  “mbdm”, “familyrm”, “ktchn”, “bthrms” – they aren’t at their description length limit so why do stupid stuff like this?

Dundarave Ambleside Living at its Best! Impressive 4500 sq.ft. 23 yr. old 6 bdrm home has one of the most panoramic westerly water views in West Vancouver. Completely renovated with style this family floor plan features 4 bedrooms up with spacious mbdm and stunning 5 piece ensuite. Main floor: open plan ktchn w/ connecting eating area and familyrm, separate living and dining room and home office w/ attached 2 car garage. Down: teenagers dream w/media and rec room, hot tub sauna room, and 2 additional bedrooms (could also be for extended family). Renovations include: gourmet kitchen w/ caesarstone counters, new cabinetry and stainless steel appliances, walnut HW floors, 4 new bthrms and much more. Close to schools, Rec Centre.


#3 ) Address:2410 OTTAWA AV, Dundarave, West Vancouver

June 21, 2012 V957586 $2,498,000 $0 0%
September 18, 2012 V957586 removed after 89 days
September 20, 2012 V972297 $2,298,000 $-200,000 -8%
February 01, 2013 V972297 removed after 134 days
February 03, 2013 V988802 $2,298,000 $-200,000 -8%
March 06, 2013 V988802 $2,198,000 $-300,000 -12%
April 02, 2013 V988802 removed after 58 days
May 25, 2013 V1008569 $2,099,000 $-399,000 -16%
June 02, 2013 V1008569 $1,998,000 $-500,000 -20%
June 02, 2013 V1008569 removed after 8 days
June 07, 2013 V1011192 $1,998,000 $-500,000 -20%

v1011192_1

Current Days on Market: 359 (0.98years)
Current ‘Official’ Days on Market: 8
2012 Assessment: $1,897,000
Desperation Score: 41.7

Based on their pricing strategy I’d expect another $100K drop in the next couple of weeks

An absolutely gorgeous Dundarave view property situated on a sun drenched totally private view lot with surrounded by gorgeous gardens, lawns and private decks,and just a short stroll to Dundarave Village, Irwin park School and the Seawall Offering over 4200 sq/ft on 3 levels this wonderful family home designed by Thompson Berwick Pratt offers the complete package. Lower level has been completely redone, main and upper offer fantastic large open spaces and a super floor plan. Sensational Close in Water and City views from several of the primary rooms. Offering 5 beds, 4 baths, and a fantastic fully matured property perfect for the whole family to enjoy and a location that is absolutely pefect!!


#2 ) Address:340 SOUTHBOROUGH DR, British Properties, West Vancouver

October 11, 2009 V792540 $3,860,000 $0 0%
June 30, 2010 V792540 removed after 262 days
July 15, 2010 V842055 $3,450,000 $-410,000 -11%
March 29, 2011 V842055 removed after 257 days
November 12, 2011 V919542 $4,088,000 $0 0%
April 03, 2012 V919542 $3,698,000 $-390,000 -10%
May 10, 2012 V919542 removed after 180 days
May 19, 2012 V951089 $3,695,000 $-393,000 -10%
June 13, 2012 V951089 $3,495,000 $-593,000 -15%
July 05, 2012 V951089 $3,295,000 $-793,000 -19%
July 17, 2012 V951089 removed after 59 days
July 20, 2012 V962823 $3,295,000 $-793,000 -19%
September 11, 2012 V962823 removed after 53 days
September 13, 2012 V971083 $3,198,000 $-890,000 -22%
December 17, 2012 V971083 removed after 95 days
January 20, 2013 V986212 $3,250,000 $-838,000 -20%
April 29, 2013 V986212 removed after 99 days
May 01, 2013 V1004257 $3,098,000 $-990,000 -24%
May 22, 2013 V1004257 removed after 21 days
May 30, 2013 V1009593 $2,980,000 $-1,108,000 -27%

v1009593_1

Current Days on Market: 581 (1.59years)
Current ‘Official’ Days on Market: 16
2012 Assessment: $2,348,000
2011 Assessment: $2,292,000
Desperation Score: 44.3

This British Properties home has been listed for a year and a half and dropped $1.1 million and 27% yet is still 25% over assessment

Opulent “Russel Hollingsworth” home situated on the edge of the 17th Green at Capilano Golf Course. Over 3,000 sq ft of exquisitely finished floor space spread over 3 levels. The main floor is very open with 7 sets of sliding glass doors opening to the manicured gardens, pond & view of the golf course. High end finishing’s throughout including Brazilian Cherry floors, granite counters & a stainless steel kitchen island. The kitchen is opened to, & placed in between the dining room & family room making it a terrific Great Room. Upstairs rests the master bedroom with golf course views & a second bedroom, while the third bedroom is below the main. Walking distance to Collingwood school, short drive to Hollyburn. Open Saturday 1-4


#1 ) Address:2383 FOLKESTONE WY, Panorama Village, West Vancouver

July 22, 2012 V963335 $1,888,000 $0 0%
August 15, 2012 V963335 $1,798,000 $-90,000 -5%
September 13, 2012 V963335 removed after 53 days
September 20, 2012 V972321 $1,788,000 $-100,000 -5%
October 05, 2012 V972321 $1,688,000 $-200,000 -11%
November 21, 2012 V972321 removed after 62 days
November 23, 2012 V980957 $1,598,000 $-290,000 -15%
February 18, 2013 V980957 removed after 87 days
February 20, 2013 V991387 $1,498,000 $-390,000 -21%
March 07, 2013 V991387 removed after 15 days
April 04, 2013 V998939 $1,488,000 $-400,000 -21%
May 22, 2013 V998939 $1,378,000 $-510,000 -27%
May 28, 2013 V998939 removed after 54 days
May 30, 2013 V1009540 $1,375,000 $-513,000 -27%

v1009540_1

Current Days on Market: 328 (0.90years)
Current ‘Official’ Days on Market: 16
2012 Assessment: $1,136,000
Desperation Score: 48.9

And the most desperate property in West Vancouver is in Panorama Village – funny that they were trying to sell a townhouse for $1.888 million!  “West Vancouver’s largest view carriage home” is kind of like saying “the worlds tallest midget” – doesn’t really work very well.  Perfect as a “pied-a-terre” – well you don’t actually own the land but don’t let things like that bother you from writing your fantastic description.  To be fair, it’s a nice looking place if it wasn’t for the insane prices they have been trying to get and the maintenance fee is $600/month!!!

I am proud to present West Vancouver’s largest view carriage home at prestigious Westpointe. This one-of-a-kind gated home has been extensively updated with taste, ingenuity, and the creation of a home office, fourth bedroom/bathroom, and a recreation/theater room. BBQ and relax on 450 sq ft of covered outdoor living space to take in sweeping ocean and city views from Mount Baker to Vancouver Island. Enjoy spacious living, 12.5′ vaulted ceilings, gas/wood burning fireplaces, HVAC, elevator access, grocery lift, swimming pool/tennis court, & a private over height garage. Developed by reputable Polygon Homes with a 10 year warranty on the rain-screened envelope plus new windows, decks, & glass railings. Great value, spectacular views, & security in a tranquil, prestigious, & convenient location close to Mulgrave and Collingwood private schools. Perfect for families, downsizers, and as a pied-a-terre. OPEN SUN 2-4.

19 responses to “West Vancouver Spotlight – June 14, 2013

  1. Saj June 15, 2013 at 10:38 am

    Great job with this, thanks!

  2. Skook June 15, 2013 at 1:21 pm

    #5 – 5935 Marine Dr.

    Hey, Observer – I noticed this home on a Foreclosure site over a month ago and just checked – it is still there but with the previous listing number (1003794) and that older price of $2,999,900 – maybe Natalie could check.

    • Natalie June 15, 2013 at 6:14 pm

      Hi Skook 🙂 The info Observer posted is accurate. The site you are referring to sounds like it isn’t linked directly to the real estate board’s site or it would be automatically updated with the listing information. The person who owns the site is likely adding the info manually and perhaps didn’t catch the termination and relist with the increase.

  3. RFM June 15, 2013 at 1:44 pm

    And people wonder how I conceived the Ping Pong Pricing Protocol…….
    Most of these listings: lets start with an irrational price, reduce it by $2,000 after 4 months, then increase it by $20,000, then…………on and on and on…………..

    http://vancouverpeak.com/Thread-PPPP

    • skook June 15, 2013 at 6:49 pm

      No one can top the PPPP – it’s a classic, RFM…laugh my head off every time I read it.

      • Natalie June 15, 2013 at 8:51 pm

        🙂 but RFM, the sellers are the boss, they set the price…oh wait, nope, the Realtors do, and we are the cause of the price increases. Its all our selfish greed. When prices come down, its only because we’ve run out of room in our bank accounts. Oh, except Realtors don’t really care, they are in it solely to make money…so we under price for a quick sale. All depends on what side of the coin you want to look at!! 😉 Doesn’t matter what we do, its wrong 🙂 The joys of being in one of the most hated professions.

      • Skook June 15, 2013 at 9:13 pm

        Natalie, it is the temper of the times, but you offer a glimmer of hope…:).
        That being said, the PPPP is still a very funny piece…:D

      • Natalie June 16, 2013 at 6:49 am

        I must agree, it is a very well written, funny piece 🙂

  4. Spiltbongwater June 15, 2013 at 3:05 pm

    Looking through the pictures of listing #1, reminded me of when I used to have a 19″ flat screen.

  5. LJ June 15, 2013 at 6:46 pm

    Great work!!!

    Just wondering what happened to “wet at the bottom, then rises steeply up.” Haven’t seen the listing in a while. It was one of my favourites. Consistent drops on what looked like an “unsaleable” property.

    Or, did it they finally find a bottom that someone found irresistible?

      • Natalie June 15, 2013 at 8:36 pm

        Sometimes we shake our heads in wonder…like a recent sale of basically swamp land with no known actual allowable use, except maybe to fence it off for insurance purposes. The buyer knew what he was buying…and still bought it. Go figure. There is a buyer out there for everything. Incidentally, the current buyer paid 30% more than the previous buyer who bought it 2 years ago.

  6. northyvr June 17, 2013 at 11:11 am

    What did 4611 Woodburn sell for? This one was earmarked to be a hall of famer. Someone finally bought it!

  7. Natalie June 17, 2013 at 9:30 pm

    4611 Woodburn sold May 8, 2013 $1,710,000

  8. MaxPower June 19, 2013 at 6:49 pm

    The worst thing about #4 isn’t the abbreviations – it’s that the same words are used without abbreviation elsewhere in the description.

  9. me August 4, 2013 at 9:12 pm

    Keep dreaming you no idiots, you will never be able to purchase real estate. Get a job!!!!

  10. West Vancouver Homes November 8, 2013 at 5:16 am

    nice and fully detailed article now no one can ask what is the true price of th good looking home

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