Vancouver Price Drop

Documenting Vancouver real estate price movements

Weekly Drop Metro Vancouver Attached – February 4, 2014

Here are the 10 attached 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.

3 of the listings are out of Kitsilano this week


#10 ) Address:# 205 2187 BELLEVUE AV, Dundarave, West Vancouver

November 18, 2009 V797794 $359,000 $0 0%
February 01, 2010 V797794 removed after 75 days
June 30, 2011 V897068 $369,000 $0 0%
September 20, 2011 V897068 $329,000 $-40,000 -11%
February 28, 2012 V897068 removed after 243 days
March 03, 2012 V934991 $315,000 $-54,000 -15%
March 29, 2012 V934991 removed after 26 days
July 23, 2013 V1018896 $298,000 $-71,000 -19%
December 05, 2013 V1018896 $289,000 $-80,000 -22%
December 28, 2013 V1018896 removed after 158 days
January 31, 2014 V1044357 $288,900 $-80,100 -22%

v1044357_1

Current Days on Market: 197 (0.54years)
Current ‘Official’ Days on Market: 5
2013 Assessment: $273,000
Desperation Score: 9.1

Listing for more than 20% below the 2009 list price

Cozy one bedroom corner unit with parking and storage with nice view of N. shore mountain. Large balcony through out. Located at Surfside tower in Prime Dundarave location just one block to seawall, Aquatic Centre, Rec and Senior Centre.Easy to show.


#9 ) Address:# 304 990 BEACH AV, Yaletown, Vancouver West

July 23, 2008 V724204 $1,371,240 $0 0%
December 31, 2008 V724204 removed after 161 days
May 08, 2010 V828363 $1,054,800 $-316,440 -23%
September 01, 2010 V828363 removed after 116 days
October 20, 2010 V855239 $966,900 $-404,340 -29%
January 31, 2011 V855239 removed after 103 days
April 18, 2012 V943853 $2,198,000 $0 0%
May 30, 2012 V943853 removed after 42 days
June 08, 2012 V955194 $1,999,000 $-199,000 -9%
July 04, 2012 V955194 removed after 26 days
September 22, 2012 V972901 $1,899,000 $-299,000 -14%
October 31, 2012 V972901 removed after 39 days
April 27, 2013 V1003497 $1,798,000 $-400,000 -18%
July 13, 2013 V1003497 removed after 77 days
October 11, 2013 V1031261 $1,725,000 $-473,000 -22%
January 16, 2014 V1031261 $1,698,000 $-500,000 -23%
January 28, 2014 V1031261 removed after 109 days
January 31, 2014 V1044430 $1,675,000 $-523,000 -24%

v1044430_1

Current Days on Market: 658 (1.80years)
Current ‘Official’ Days on Market: 5
2013 Assessment: $1,415,000
2011 Assessment: $896,000
2011 Last Sale: $914,000 on 19/Jan/2011
Total Profit IF sold for list price: 73,780 transaction costs and 761,000 profit on sale = Profit of 687,220
Desperation Score: 25.8

Based on sale / price history I am pretty sure that this owner combined two units, renovated and then listed for $2.2 million

The ultimate in luxurious living! This uber contemporary 2 bedrm & den (currently a superb dressing rm) is the epitome of quality, taste & fabulous design. Entertaining Gamadecor kitchen w/3 Subzeros, Wolf appliances & fabulous dining island, intimate balcony for 2, & spacious living area w/gorgeous False Creek view. The master bedrm is your private haven designed for extreme pampering & for ample wardrobes + outstanding ensuite boasts spoon tub, complementary sink, & walk-in Kohler multi-head shower system. Renowned designer has orchestrated the custom millwork, hand-picked finishing & fixtures thru-out this ultra-high end suite. Ideal for the urban professional – a Downtown lifestyle & a private, chic place to entertain & relax.


#8 ) Address:# 24 1480 ARBUTUS ST, Kitsilano, Vancouver West

January 30, 2010 V806812 $499,000 $0 0%
March 02, 2010 V806812 $459,000 $-40,000 -8%
March 31, 2010 V806812 removed after 60 days
April 03, 2010 V819637 $419,000 $-80,000 -16%
May 30, 2010 V819637 removed after 57 days
June 16, 2010 V837304 $369,000 $-130,000 -26%
August 12, 2010 V837304 $349,000 $-150,000 -30%
August 24, 2010 V837304 removed after 69 days
September 23, 2013 V1028359 $383,000 $-116,000 -23%
October 06, 2013 V1028359 $379,000 $-120,000 -24%
January 29, 2014 V1028359 removed after 128 days
February 03, 2014 V1044772 $378,000 $-121,000 -24%

v1044772_1

Current Days on Market: 135 (0.37years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $396,300
2011 Assessment: $337,900
Desperation Score: 7.4

Awesome location, this could be your new home! Steps from the beach, great restaurants, the beach, public transportation and almost everything else nearby. Situated in a classic building, this unique apartment has been converted to a 2 bedroom recently. Situated in a great neighborhood in Kitsilano, this building is self-managed by a pro-active strata. This apartment features a great floor plan, and is just looking for a buyer like you to enjoy. Please see REATLOR’S website for further information.


#7 ) Address:# 301 1480 DUCHESS AV, Ambleside, West Vancouver

January 23, 2010 V805583 $679,000 $0 0%
February 15, 2010 V805583 removed after 23 days
May 30, 2010 V833743 $978,000 $0 0%
July 08, 2010 V833743 $939,000 $-39,000 -4%
September 08, 2010 V833743 removed after 101 days
September 10, 2010 V849302 $959,000 $-19,000 -2%
November 16, 2010 V849302 removed after 67 days
November 20, 2010 V858996 $899,000 $-79,000 -8%
January 27, 2011 V858996 removed after 68 days
January 30, 2011 V866214 $888,000 $-90,000 -9%
February 25, 2011 V866214 removed after 26 days
March 05, 2011 V873570 $898,000 $-80,000 -8%
March 29, 2011 V873570 removed after 24 days
October 20, 2012 V977410 $819,000 $-159,000 -16%
February 13, 2013 V977410 removed after 116 days
February 17, 2013 V991177 $789,000 $-189,000 -19%
March 10, 2013 V991177 removed after 21 days
March 14, 2013 V995569 $699,000 $-279,000 -29%
March 25, 2013 V995569 removed after 11 days
April 10, 2013 V999834 $798,000 $-180,000 -18%
June 07, 2013 V999834 removed after 58 days
June 15, 2013 V1012363 $779,000 $-199,000 -20%
August 24, 2013 V1012363 removed after 70 days
September 05, 2013 V1025064 $779,000 $-199,000 -20%
November 15, 2013 V1025064 removed after 71 days
January 31, 2014 V1044269 $740,000 $-238,000 -24%

v1044269_1

Current Days on Market: 473 (1.30years)
Current ‘Official’ Days on Market: 5
2013 Assessment: $745,000
Desperation Score: 31.6

7 MLS numbers in one year…  Still $40K above an earlier price it didn’t sell at

Top 5 reasons this unit is a gem. #1 LOCATION – Situated only a few blocks from Ambleside park, Marine Dr restaurants, and Park Royal shopping center. #2 VIEW – Amazing south western exposure with views of Lions Gate to UBC from every room. #3 RENOVATIONS – Beautifully updated custom kitchen including stainless appliances, Caeser stone countertops, solid wood cabinets. New hardwood flooring through-out and fully modernized bathrooms. It’s gorgeous. #4 LAY-OUT – Open concept kitchen with dining area, huge pantry, over sized master with walk-thru closet and ensuite. #5 PRICE – Priced sharp for quick sell and below assessed value. First showings Saturday Feb 1st 2-4pm. Don’t miss this one. No pets, No rentals, 19+, No worries. *click multimedia button for video*


#6 ) Address:2144 W 3RD AV, Kitsilano, Vancouver West

February 06, 2008 V687168 $489,000 $0 0%
February 15, 2008 V687168 removed after 9 days
April 23, 2012 V945046 $799,000 $0 0%
June 08, 2012 V945046 removed after 46 days
June 15, 2012 V956459 $694,500 $-104,500 -13%
October 12, 2012 V956459 removed after 119 days
April 07, 2013 V999779 $648,000 $-151,000 -19%
April 10, 2013 V999779 removed after 3 days
April 12, 2013 V1000730 $648,000 $-151,000 -19%
July 25, 2013 V1000730 removed after 104 days
August 01, 2013 V1020086 $599,000 $-200,000 -25%
October 30, 2013 V1020086 removed after 90 days
January 29, 2014 V1044010 $599,000 $-200,000 -25%

v1044010_1

Current Days on Market: 653 (1.79years)
Current ‘Official’ Days on Market: 7
2012 Assessment: $545,200
2011 Assessment: $516,200
Desperation Score: 19.5

” Building has been rainscreened, roof (2002), all new windows (2008), complete exterior paint (2011), newly landscape grounds (2012)” and listing price has dropped 25% – great investment!

Unique character townhome in 4 unit complex! This 888 sq.ft. 2 bedroom, 2 bathroom home is a rare find in Kits. Enjoy lots of natural light in this south-facing end unit. Features include south-facing private yard with large private patio area, newly renovated kitchen (cabinets, appliances, granite), and new bathrooms, crown moulding, in-suite laundry, wood burning fireplace with new surround, 2 floor plan with bedrooms upstairs, walk-through in-suite storage space, new carpet, etc.etc. Open parking stall off lane, and lots of storage in this unit. As for location you are in the heart of the Kitsilano only 3 blocks to Kits beach and pool, 1 block to famous 4th Ave shopping (restaurants/lulu lemon!/cafes/boutiques), minutes to downtown. Guess where the gang is meeting this year for fireworks! Building has been rainscreened, roof (2002), all new windows (2008), complete exterior paint (2011), newly landscape grounds (2012), and is pet and rental friendly! Bonus is low maintenance fees only $225/mo.


#5 ) Address:2789 W 5TH AV, Kitsilano, Vancouver West

July 22, 2010 V842935 $1,698,000 $0 0%
November 25, 2010 V842935 removed after 126 days
April 15, 2013 V1001096 $1,410,000 $-288,000 -17%
June 21, 2013 V1001096 removed after 67 days
June 28, 2013 V1014655 $1,399,000 $-299,000 -18%
July 27, 2013 V1014655 $1,338,000 $-360,000 -21%
September 25, 2013 V1014655 $1,279,880 $-418,120 -25%
November 29, 2013 V1014655 removed after 154 days
February 03, 2014 V1044917 $1,248,000 $-450,000 -27%

v1044917_1

Current Days on Market: 296 (0.81years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $1,173,000
Desperation Score: 30.1

Prepare to be wowed! 3 – Stunning 3 bedroom & den townhomes in Prime Kitsilano neighbourhood. All homes are traditional layouts with principle living on main & 3 bedrooms up. Each have ample inste storage including crawlspaces, two w/single car garages & one w/2 open parking. Outdoor space includes terrific private yards for family & pets plus balconies or covered porches for relaxing and entertaining. Rich engineered walnut h/w floors, sleek contemporary fireplaces & gourmet kitchens with outstanding Miele appliances including gas ranges plus Samsung Steam washer/dryer. Ultra pampering bathrooms offer jetted soaker tubs & master ensuites with fabulous steam showers. 2-5-10 yr warranty. Prime Kits location, walk to all amenities!


#4 ) Address:# 327 9101 HORNE ST, Government Road, Burnaby

July 20, 2007 V659939 $368,800 $0 0%
August 03, 2007 V659939 $349,900 $-18,900 -5%
September 01, 2007 V659939 $330,000 $-38,800 -11%
September 21, 2007 V659939 removed after 63 days
January 31, 2014 V1044334 $258,900 $-109,900 -30%

v1044334_1

Current Days on Market: 5 (0.01years)
Current ‘Official’ Days on Market: 5
2013 Assessment: $219,300
Desperation Score: 9.9

Listed 30% below 2007 listing prices…  Still almost 20% above assessment

WOODSTONE PLACE. this bright top-floor, 2 bedroom & 2 bath unit has vaulted post & beam ceiling, Plank laminate flooring throughout, as well as newer designer floor tiles. Newer custom maple kitchen cabinets, newer tile backsplash, undermount lighting, updated lighting throughout w/dimmers, newer modern appliances just to name a few! Other features include a Breakfast nook, attic storage, private patio, pantry, 2 generous sized bedrooms w/ large windows, 2 full bathrooms sporting marble tile floors & wainscoting, soaker tub w/accenting ceramic basin on a granite finish and the other has pedestal sink & shower. Kids & Pets welcome. Walk to transit, shopping, banks & churches. Close to hwys, come see this one before it’s gone!


#3 ) Address:# 900 3131 DEER RIDGE DR, Deer Ridge, West Vancouver

April 15, 2007 V641003 $3,488,000 $0 0%
September 27, 2007 V641003 removed after 165 days
September 06, 2009 V782337 $6,980,000 $0 0%
January 19, 2010 V782337 removed after 135 days
June 13, 2010 V818994 $5,950,000 $-1,030,000 -15%
August 06, 2010 V818994 $5,100,000 $-1,880,000 -27%
January 31, 2011 V818994 removed after 232 days
July 24, 2011 V901643 $5,080,000 $-1,900,000 -27%
July 06, 2012 V901643 $4,960,000 $-2,020,000 -29%
January 01, 2013 V901643 removed after 527 days
January 29, 2014 V1044259 $4,798,000 $-2,182,000 -31%

v1044259_1

Current Days on Market: 7 (0.02years)
Current ‘Official’ Days on Market: 7
2013 Assessment: $3,651,000
Desperation Score: 9.5

It’s a 20 year old condo and after dropping $2.2 million you are still dreaming.  I can almost guarantee that this one will be down over 50% before it sells

World Class PH feat panoramic mtn, city & ocean vws! Breathtaking res reno’d extensively by Archipegalo w/approx 4700 sqft, 16′ vaulted ceilings, exquisite finishes & walls of glass. Natural stone, laser cut inlaid marble, walnut flrs & mill-paneled walls. 1200 sqft priv terrace. 3 bedrooms incl a sensational master, dressing rm w/custom-fitted millwrk & luxurious ensuite w/jet tub & steam shower, separate lounge & beverage centre, state-of-the-art FR, cozy gas F/P, magnificent dining area, custom kit, brkfst bar, sunfilled E/A & wine rm. Formal LR, office, priv elevator, elegant foyer, powder rm, power blinds, priv pkg for 4, A/C & radiant in-floor htg. Enjoy spectacular vws & luxurious amenities. Stunning!


 

#2 ) Address:# 3 6400 PRINCESS LN, Steveston South, Richmond

March 29, 2008 V697167 $1,398,800 $0 0%
May 07, 2008 V697167 removed after 39 days
May 24, 2008 V711034 $1,249,800 $-149,000 -11%
July 21, 2008 V711034 removed after 58 days
April 03, 2009 V759537 $989,900 $-408,900 -29%
October 01, 2009 V759537 removed after 181 days
December 17, 2013 V1038893 $879,900 $-518,900 -37%
January 28, 2014 V1038893 removed after 42 days
January 31, 2014 V1044424 $865,000 $-533,800 -38%

v1044424_1

Current Days on Market: 50 (0.14years)
Current ‘Official’ Days on Market: 5
2013 Assessment: $851,000
2011 Assessment: $881,000
Desperation Score: 18.5

Heritage style, detached town-home in desirable McKinney Walk. The largest floor plan in the development, with a beautiful wrap-around veranda, this waterfront property has a southern exposure with full on view of the river. The main floor of this home is an entertainer’s delight with efficient, spacious kitchen, formal living and dining room, and cozy family room off the kitchen. This home has the potential to be the jewel in the crown at McKinney Walk. Live the good life in a peaceful, tranquil setting close to Steveston Village.


#1 ) Address:# 1403 1003 PACIFIC ST, West End, Vancouver West

March 13, 2007 V633751 $879,000 $0 0%
April 19, 2007 V633751 removed after 37 days
September 25, 2008 V735536 $1,090,000 $0 0%
December 03, 2008 V735536 removed after 69 days
December 05, 2008 V745772 $968,000 $-122,000 -11%
March 05, 2009 V745772 removed after 90 days
February 06, 2011 V867819 $880,000 $-210,000 -19%
June 10, 2011 V867819 removed after 124 days
June 15, 2011 V894258 $799,900 $-290,100 -27%
January 01, 2012 V894258 removed after 200 days
September 10, 2012 V970380 $799,900 $-290,100 -27%
April 01, 2013 V970380 removed after 203 days
October 29, 2013 V1033733 $749,900 $-340,100 -31%
December 05, 2013 V1033733 $720,000 $-370,000 -34%
January 23, 2014 V1033733 removed after 86 days
February 04, 2014 V1045246 $652,500 $-437,500 -40%

v1045246_1

Current Days on Market: 99 (0.27years)
Current ‘Official’ Days on Market: 1
2012 Assessment: $757,000
Desperation Score: 26.0

40% drop in 6 years…  Now over $100K below assessment

SEASTAR. Bright 2 bedroom, 2 bathroom unit with solarium (included in square footage). 180 degree view of Granville Island, Burrard Bridge, and English Bay. Living area is quite spacious and has maple floors and a funky fireplace with a steel surround. Kitchen has lots of cupboards, slate floors and granite countertops. Master bedroom has 3 closets, corner window and a 4 piece ensuite. The 2nd bedroom has door to the solarium area. The building has a games room, meeting room, pool table and gym. Rental max is 6 and 2 pets max. Parking stall #68. No locker.

 

Advertisements

4 responses to “Weekly Drop Metro Vancouver Attached – February 4, 2014

  1. Real Estate Tsunami February 4, 2014 at 3:27 pm

    #2 sellers in Steveston are delusional.
    Good to see that prices are finally coming down to earth.

  2. RFM February 4, 2014 at 4:32 pm

    The VANCOUVER REALTOR HUNGER INDEX for January 2014 was 73%.

    Details and comparison data for 16 years at: http://vancouverpeak.com/Thread-Vancouver-Realtor-Hunger-Index

  3. Ray February 4, 2014 at 6:14 pm

    I love #2. In December 2013 they thought they were pricing under assessment until their jingle mail came in January with a shocking surprise. The following week they drop their price $15,000 but now they are $15,000 above assessment. Easy come easy go.

  4. Gary February 7, 2014 at 9:41 am

    I know nobody reads back entries comments but saw #2 Steveston townhouse when looking at foreclosures:

    http://www.homeforeclosuresbc.com/RichmondForeclosures.ubr/Details/5518/3-6400-princess-lane-richmond-british-columbia#viewdetail

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: