Vancouver Price Drop

Documenting Vancouver real estate price movements

Weekly Drop Metro Vancouver Detached – February 3, 2014

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.  There are some gaps in assessment data – I have some old data and can pull up 2013 but if you see years missed it is because I just don’t have the information available.

Vancouver West and Richmond with 3 each and North Vancouver with 2

3 of the properties just increased their asking prices and another 1 of the properties is still listed higher than it was a few months ago after increasing the price recently


#10 ) Address:10511 AINSWORTH CR, McNair, Richmond

February 09, 2011 V868021 $709,000 $0 0%
February 16, 2011 V868021 removed after 7 days
March 29, 2012 V939738 $1,888,800 $0 0%
June 04, 2012 V939738 removed after 67 days
June 07, 2012 V955058 $1,888,800 $0 0%
August 29, 2012 V955058 $1,788,800 $-100,000 -5%
September 14, 2012 V955058 $1,698,000 $-190,800 -10%
November 19, 2012 V955058 removed after 165 days
October 09, 2013 V1031040 $1,688,000 $-200,800 -11%
November 15, 2013 V1031040 $1,598,000 $-290,800 -15%
December 05, 2013 V1031040 $1,538,000 $-350,800 -19%
January 29, 2014 V1031040 removed after 112 days
February 03, 2014 V1044944 $1,438,000 $-450,800 -24%

v1044944_1

Current Days on Market: 118 (0.32years)
Current ‘Official’ Days on Market: 1
2013 Assessment: $1,318,000
Desperation Score: 31.8

Modern, Architect designed gorgeous home with Warranty. Fantastic View of Mountains from the ROOF DECK! This is not your regular cookie cutter plan. Superbly finished, this house has it all – All 5 bedrooms with ensuite including a mortgage helper, wok kitchen, 6 zone radiant heat, A/C & fantastic outdoor space. Walk to schools, shopping & easy access to all amenities. Seeing is believing.


#9 ) Address:1455 DEVONSHIRE CR, Shaughnessy, Vancouver West

August 02, 2012 V964756 $3,380,000 $0 0%
October 19, 2012 V964756 removed after 78 days
January 11, 2013 V984573 $3,380,000 $0 0%
January 30, 2013 V984573 $2,980,000 $-400,000 -12%
March 31, 2013 V984573 removed after 79 days
January 29, 2014 V1044258 $2,498,000 $-882,000 -26%

v1044258_1

Current Days on Market: 6 (0.02years)
Current ‘Official’ Days on Market: 6
2013 Assessment: $2,695,000
2011 Assessment: $2,751,000
Desperation Score: 25.7

Charming classic character home, lovingly maintained & updated on a 69 X 115′ level lot on a quiet street in the heart of Shaughnessy. Cross hall plan, spacious principal rooms, newer chef’s kitchen w/ eating area overlooking the lovely garden and deck. 3 good sized bedrooms /2 full baths upstairs, bdrm/office & charming panelled den on main floor + partially finished bsmt. Perfect family home or hold as a solid investment – great location nr excellent schools & transit.


#8 ) Address:3772 NITHSDALE ST, Burnaby Hospital, Burnaby

May 01, 2013 V1004235 $1,100,000 $0 0%
June 07, 2013 V1004235 $999,900 $-100,100 -9%
September 02, 2013 V1004235 removed after 124 days
September 20, 2013 V1028231 $949,000 $-151,000 -14%
October 21, 2013 V1028231 removed after 31 days
January 31, 2014 V1044369 $798,000 $-302,000 -27%

No Picture

Current Days on Market: 279 (0.76years)
Current ‘Official’ Days on Market: 4
2013 Assessment: $792,400
Desperation Score: 30.2

Location Location & priced to sell! R5 zoning- with huge 70 x 120 duplex Potential! Large lot in the much sought after Burnaby Hospital neighborhood, East Vancouver, close to BCIT, Moscrop High School, Metrotown, Brentwood Town Centre and Skytrain. Live, rent or develop now, three bedrooms up and basement. Stream along the East property line includes an Easement & Statutory Right of Way. One covered garage with back lane access. Sale As-Is. Seller is not accepting any offer before Thursday Jan 30th 5:00pm.

“Location Location” – aren’t they missing the third location?  “Seller is not accepting any offer before Thursday Jan 30th 5:00pm.” – This isn’t 2010 buddy, you don’t make the rules!  Should be updated to say that seller will not be receiving any offers after Thursday Jan 30th either


#7 ) Address:8251 FAIRDELL CR, Seafair, Richmond

March 08, 2013 V994557 $2,398,000 $0 0%
March 27, 2013 V994557 $1,988,800 $-409,200 -17%
May 10, 2013 V994557 removed after 63 days
June 07, 2013 V1010976 $1,820,000 $-578,000 -24%
November 27, 2013 V1010976 $1,698,000 $-700,000 -29%
January 04, 2014 V1010976 removed after 211 days
January 31, 2014 V1044299 $1,738,000 $-660,000 -28%

v1044299_1

Current Days on Market: 333 (0.91years)
Current ‘Official’ Days on Market: 4
2013 Assessment: $1,614,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 30.5

Best street in Seafair area. Walking distance to the dyke, school and public transit. Contemporary designed home with stunning views of the water and mountains. Italian wood flooring, tiles and solid wood door; unique lighting throughout the house; high efficiency furnace. Dream kitchen with quartz counter top. Patio with ocean view. Don’t miss the opportunity to own a fabulous house!


#6 ) Address:5280 CHETWYND AV, Lackner, Richmond

July 09, 2011 V898707 $1,099,000 $0 0%
August 17, 2011 V898707 $999,000 $-100,000 -9%
November 16, 2011 V898707 removed after 130 days
June 08, 2012 V955314 $2,888,000 $0 0%
September 25, 2012 V955314 removed after 109 days
October 04, 2012 V974902 $2,488,000 $-400,000 -14%
March 21, 2013 V974902 $2,280,000 $-608,000 -21%
May 22, 2013 V974902 removed after 230 days
June 02, 2013 V1009869 $1,978,000 $-910,000 -32%
July 20, 2013 V1009869 $1,850,000 $-1,038,000 -36%
July 23, 2013 V1009869 removed after 51 days
July 27, 2013 V1019382 $1,750,000 $-1,138,000 -39%
August 01, 2013 V1019382 $1,830,000 $-1,058,000 -37%
September 05, 2013 V1019382 removed after 40 days
February 03, 2014 V1045012 $2,070,000 $-818,000 -28%

v1045012_1

Current Days on Market: 606 (1.66years)
Current ‘Official’ Days on Market: 1
2013 Assessment: $1,791,000

2013 Last Sale: $1,770,000 on 27/Aug/2013 
Total Profit IF sold for list price: 101,960 transaction costs and 300,000 profit on sale = Profit of 198,040

2011 Assessment: Building Unfinished at time of assessment
2011 Last Sale: $1,050,000 on 11/Feb/2011
Desperation Score: 38.3

Stunning architecturally designed, superior quality new home with 75 wide frontage on a 7000 sqft lot in the prestigious neighbourhood. Quiet & beautiful 5 bedrooms with a sunny southern private backyard. Solid entrance w/19′ recessed ceiling foyer. Extensive use of crystal lighting fixtures, wainscoting, marble and quality hardwood flooring, high-end cabinetry, caesar-stone and granite countertops, top-of-the-line plumbing and stainless appliances, solid oak railings with iron spindles, glass tiles, 8-head jetted tub, rain-shower and so much more. Limestone exterior facings, 3-car garage, gated and fully L/S grounds. A/C, HRV, surveillance system, wok kit, pantry and 1-bdrm legal suite. Excellent school district! Act fast!

Wow, so you know how the price increase trick never works, in this case last year a price increase worked!  The suckers bought it thinking they got a good deal but what was actually above a previous asking price.  Now they are trying to flip it for a $300K price increase!  This should end well!


#5 ) Address:3589 W 19TH AV, Dunbar, Vancouver West

June 13, 2010 V836870 $2,280,000 $0 0%
July 15, 2010 V836870 removed after 32 days
February 24, 2012 V933301 $3,380,000 $0 0%
May 18, 2012 V933301 $2,980,000 $-400,000 -12%
August 20, 2012 V933301 removed after 178 days
August 22, 2012 V967485 $2,780,000 $-600,000 -18%
June 26, 2013 V967485 removed after 308 days
June 29, 2013 V1015233 $2,480,000 $-900,000 -27%
September 04, 2013 V1015233 removed after 67 days
September 07, 2013 V1025454 $2,480,000 $-900,000 -27%
January 27, 2014 V1025454 removed after 142 days
January 31, 2014 V1044533 $2,380,000 $-1,000,000 -30%

v1044533_1

Current Days on Market: 711 (1.95years)
Current ‘Official’ Days on Market: 4

2013 Assessment: $2,414,000

2012 Assessment: $2,428,000

2011 Assessment: $2,597,000
Desperation Score: 24.4

POPULAR DUNBAR LOCATION. Home built by European builder views of city, water and mtn from roof deck. Over 3600 sq ft home. Well maintained. 6 bedrooms and 5 baths. One bedroom suite as bonus. Walking distance to LORD BYNE HIGH SCHOOL, KITCHENER ELE. SCHOOL, ST. GEORGES’S PRIVATE SCHOOL, UBC SHOPPING, TRANSIT. MUST SEE !

“LORD BYNE HIGH SCHOOL”…  Dunbar down a million, assessment dropping at least 2 years in a row and now listed below current assessment


#4 ) Address:90 TIDEWATER WY, Lions Bay, West Vancouver

May 24, 2008 V710758 $1,198,000 $0 0%
May 27, 2008 V710758 $1,998,000 $0 0%
August 18, 2008 V710758 removed after 86 days
August 21, 2011 V906227 $1,888,000 $-110,000 -6%
November 04, 2011 V906227 $1,788,000 $-210,000 -11%
April 11, 2012 V906227 $1,625,000 $-373,000 -19%
July 27, 2012 V906227 $1,498,000 $-500,000 -25%
December 01, 2012 V906227 $1,398,000 $-600,000 -30%
May 30, 2013 V906227 removed after 648 days
June 28, 2013 V1014989 $1,398,000 $-600,000 -30%
November 23, 2013 V1014989 removed after 148 days
January 31, 2014 V1044323 $1,398,000 $-600,000 -30%

v1044323_1

Current Days on Market: 898 (2.46years)
Current ‘Official’ Days on Market: 4
2013 Assessment: $1,138,000
Desperation Score: 14.9

This home & the entire package is simply magnificent. The finest quality home I have seen in Lions Bay. outstanding finishes throughout. Top of the line appliances, Sub Zero fridge, Sub Zero wine fridge, granite countertops, solid oakhardwood floors, skylights, leaded glass, lots of natural light, loads built-ins, and breath taking ocean views. Just step away from the beach. The exterior landscaping is absolutely stunning, with a very gentle creek winding through the magnificent rock gardens. Energy efficient heat pump, wood burning fireplace, and one of the most amazing ocean views you will see. Only 25min to downtown Vancouver on the spectacular new Sea-to-Sky Hwy.


#3 ) Address:1809 MARINE DR, S.W. Marine, Vancouver West

August 04, 2011 V903044 $4,988,000 $0 0%
January 01, 2012 V903044 removed after 150 days
January 14, 2012 V925263 $4,690,000 $-298,000 -6%
March 16, 2012 V925263 $3,998,000 $-990,000 -20%
July 06, 2012 V925263 removed after 174 days
October 14, 2012 V976707 $3,880,000 $-1,108,000 -22%
October 22, 2012 V976707 removed after 8 days
June 06, 2013 V1010473 $3,580,000 $-1,408,000 -28%
October 02, 2013 V1010473 $3,388,000 $-1,600,000 -32%
December 28, 2013 V1010473 removed after 205 days
February 03, 2014 V1044776 $3,338,000 $-1,650,000 -33%

No Picture

Current Days on Market: 243 (0.67years)
Current ‘Official’ Days on Market: 1
2013 Assessment: $2,065,000
Desperation Score: 22.0

Combination of eastern art and western design create this mansion, it looks like paradise. Boasted almost 7500 sf over 1200 sf of a flat and sunny lot. This unique sophisticated European design and craftsmanship create & designed by architect Wilfred Geppart, which you never seen before & wont see again. Charming & warm family home with luxury granite & marble throughout with 7 bedrooms & 8 bathrooms. Situated a few houses away from famous casa Mia. 15 min drive to downtown, 10 min to Vancouver airport, lots of golf courses, & parks. This luxury home is unique and been taken care of, when you enter inside you will feel it. Kolher fixtures, maple cabinets, Thermadoro appliances, wok kitchen. This is a must see investors only

“investors only” – enough said


#2 ) Address:5690 INDIAN RIVER DR, Woodlands-Sunshine-Cascade, North Vancouver

June 02, 2011 V891732 $3,188,000 $0 0%
November 21, 2011 V891732 removed after 172 days
November 26, 2011 V920948 $2,988,000 $-200,000 -6%
December 16, 2011 V920948 removed after 20 days
March 09, 2012 V930985 $2,840,000 $-348,000 -11%
April 08, 2012 V930985 removed after 30 days
May 30, 2012 V953244 $2,648,000 $-540,000 -17%
August 23, 2012 V953244 removed after 85 days
September 13, 2012 V971033 $2,648,000 $-540,000 -17%
February 01, 2013 V971033 removed after 141 days
August 17, 2013 V1022578 $1,999,000 $-1,189,000 -37%
October 30, 2013 V1022578 removed after 74 days
February 03, 2014 V1045151 $1,999,990 $-1,188,010 -37%

v1045151_1

Current Days on Market: 171 (0.47years)
Current ‘Official’ Days on Market: 1
2013 Assessment: $1,772,000
Desperation Score: 20.3

Magnificent Grand Heritage style home that was completely restored in 2003 and situated right on the water. Approximately 300′ of waterfront living with a deep water dock. Features include gleaming hardwood floors throughout, high ceilings, wainscoting, a granite fireplace, 2 ensuite bedrooms and open plan living on the main floor. Huge covered decks accessible through french doors allow for year round use. The garden is landscaped and also features a separate artists studio. This is magnificient.

They drop their price by $700K in August after $500K of previous drops and it doesn’t sell.  Now they raise the price by $990 and cross their fingers


#1 ) Address:967 ROSLYN BV, Dollarton, North Vancouver

February 26, 2012 V933878 $3,750,000 $0 0%
March 27, 2012 V933878 $3,690,000 $-60,000 -2%
April 18, 2012 V933878 $3,288,000 $-462,000 -12%
May 16, 2012 V933878 $2,980,000 $-770,000 -21%
June 15, 2012 V933878 $2,750,000 $-1,000,000 -27%
July 25, 2012 V933878 removed after 150 days
August 10, 2012 V965789 $2,690,000 $-1,060,000 -28%
January 03, 2013 V965789 removed after 146 days
February 15, 2013 V990537 $2,388,000 $-1,362,000 -36%
June 06, 2013 V990537 $2,329,000 $-1,421,000 -38%
August 27, 2013 V990537 removed after 193 days
October 04, 2013 V1030299 $2,378,000 $-1,372,000 -37%
January 31, 2014 V1030299 $2,349,000 $-1,401,000 -37%

v1030299_1

Current Days on Market: 709 (1.94years)
Current ‘Official’ Days on Market: 123
2013 Assessment: $2,039,000
Desperation Score: 21.8

DO THE MATH! HUGE family home designed for extended family or a large growing family! FIVE bedrooms on main, 2 down plus a den! Home theatre, inground pool, Koi pond, waterfall feature….HUGE gourmet kitchen on main too! Gorgeous family oriented neighborhood just steps to schools, beaches, shops, trails, restaurants, golf and skiing! Lot is worth $1.5. You can’t replace this home at this price !North 1/2 of home built in 2001 and south 1/2 in 2006. Small portion of original foundation is all that is left of the 1959 home!

They have also been trying to rent the place through craigslist for a long time with seemingly no takers.  Still priced higher than it was a short while ago but they’ll most likely be dropping down further with it still being over $300K above assessment

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12 responses to “Weekly Drop Metro Vancouver Detached – February 3, 2014

  1. Harry Balls February 3, 2014 at 12:36 pm

    Looking at the Queens Park area of new Westminster the 2014 tax assessment look to have dropped on average 9%.

  2. Seeking Knowledge... February 3, 2014 at 2:03 pm

    I noticed the RE industry hasn’t pumped the Chinese New Year buying frenzy like they did last year. I wonder what marketing strategy they are brewing to cover up what will appear to be lots of bad RE stats this year…other than the usual manipulated HPI data.

    Love the weekly updates and the red comments. Thanks Observer.

    • Gary February 4, 2014 at 9:57 am

      Was at the mall yesterday and picked up a copy of Ming Pao (one of the Chinese newspapers). Of the 24 pages in the first section A, there were 9 full-page RE ads, 2 quarter-page RE ads, 1 half-page luxury car ad, 1 full-page luxury timepiece ad – all with the theme of “buy now! Chinese New Year special!” filled with the colour red and lots of 8’s in the numbers.

      Looks like developers and other sellers still believe there’s lots of hot Asian money looking for things to buy… It really is getting more entertaining to watch the developers try different tactics to push sales nowadays.

  3. Vulture Fun February 3, 2014 at 5:18 pm

    Yay! Observer is back with full-on, red font, snarky goodness.

  4. Alexcanuck February 3, 2014 at 6:00 pm

    Snarky red! I looooove snarky red!
    I don’t even feel the urge to add my own snarkiness now. (But I may later…)

  5. East Village February 3, 2014 at 8:12 pm

    Great to have you back. Love the red comments.

  6. Joe Average February 3, 2014 at 8:55 pm

    Hey !!! Nice to have you back on-line.

  7. Anne February 3, 2014 at 10:53 pm

    Welcome back ! Missed you

  8. Ray February 4, 2014 at 12:44 am

    Please filter out all listings without red snark. 🙂 Welcome back.

  9. Cate February 4, 2014 at 11:19 am

    Some day soon I am hoping to see 1406 West 40th Avenue Vancouver back on this list. You profiled it in 2012 and it was sold for $2,488,888. I see it is back on the market for $3,680,000 and the pool looks like swamp. The greed of this city! Do you think all realtors give the selling history to prospective buyers or do offshore buyers simply have so much money that paying $1,000,000 more for a house within two years is nothing to them? And why is it that I can’t find any previous listing history on this house from 2 years ago? I always thought that anything posted online is permanent – except in the case of lower mainland real estate listings. By the way, I love the red snark.

    • Willie February 6, 2014 at 1:57 pm

      1406 West 40th Ave is being sold as a development property. The owners have put in an application for rezoning and have blue prints for a HUGE house. I guess the extra million is for the work done so far. Don’t know if it is worth it. Upkeeping the house is not on their priority list since it was always meant to be a tear down!!

  10. bullwhip29 February 4, 2014 at 4:09 pm

    A belated welcome back.

    I agree with many other posters here that this spring will be interesting. In the last few days, I have seen half a dozen for sale signs pop up in a 1-2 block radius of my home, which confirms my previous theories that (1) there are, in fact, a lot of sellers sitting on the fence waiting to pounce if this market catches a bid and (2) many buyers of properties over the last 12-18 months may have been fooled by the low volume, skinny RE market believing it had bottomed. Perhaps some of them should ask anyone holding those comatose TSXV listed penny stocks if the hot money speculators have come back.

    Some other observations/predictions…

    – buyers are clearly starting to come to their senses despite the low rates being offered by the banks (which they will likely continue on doing so for longer than most expect). a couple of buyers i talked to recently changed plans on their new builds and have allocated more sq ft for an income generating suite (and/or are building in a 2nd suite when the original plan called for just one). the careful consideration of such safeguards in years past just didn’t occur as the property could always be unloaded at the drop of a hat (for a handsome profit) if need be. Suddenly, 3 and 4 car garages, man caves and “storage” for junk we never use (or need) is far less important now.

    – imho, the Wall St wiseguys handed off the baton to the moms and pops in q4 2013. In all likelihood, they are positioned to the short side now. it is no surprise whatsoever that the moment the calendar was flipped to 2014 the S&P 500 couldn’t seem catch a bid to save it’s life. how laughable (and irritating at the same) considering the unabated 5 year robotic march higher that we just witnessed. fwiw, i do not believe the markets “bottomed” yesterday. given how things unfolded (or shall i say unravelled) in Jan, it is pretty clear that some different buttons are being pressed now. caution is warranted. to the poster who pitched me on HCG-TO sometime last Oct/Nov, well, let’s say I took a pass on that idea.

    – now that CAD is tanking, the half a million or so Gr Vanc cross border shoppers that usually clog up Meridian Rd in Bellingham, now have to ratchet back their bi-weekly grocery and gas runs and cancel their trips to the Prem Outlets and destinations like Portland altogether. This last weekend, there were 10 (as in ONE, ZERO) cars in the lineup at the Peace Arch. The fabulous folks that run this country seem to think this (along with the prospect of LOWER rates) will be good news for the Cdn economy. If things in the US and globally were really humming along (as the MSM likes to suggest), perhaps this would have an impact. In actuality, the whole lot of us just took a significant pay cut in recent weeks just as things are beginning to slow down and the cost of pretty much every good and service we need is spiking higher.

    – in an unrelated matter (but curious to say the least), i asked a couple of people when the Sochi opening ceremony was and no one had a clue.

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