Vancouver Price Drop

Documenting Vancouver real estate price movements

Weekly Drop Metro Vancouver Detached – February 10, 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.

West Vancouver has 4 listings and Vancouver West has 3 in this weeks top 10

Like last week, the top 3 biggest drops all actually increased their asking price either this past week or very recently!


#10 ) Address:865 WILDWOOD LN, British Properties, West Vancouver

November 10, 2006 V620428 $2,500,000 $0 0%
April 02, 2007 V620428 removed after 143 days
May 02, 2007 V644572 $2,098,000 $-402,000 -16%
July 21, 2007 V644572 $1,799,000 $-701,000 -28%
February 04, 2008 V644572 removed after 278 days
June 04, 2012 V954385 $4,480,000 $0 0%
June 26, 2012 V954385 removed after 22 days
June 28, 2012 V959072 $4,480,000 $0 0%
September 27, 2012 V959072 $3,980,000 $-500,000 -11%
December 26, 2012 V959072 removed after 181 days
January 09, 2013 V983990 $4,480,000 $0 0%
April 04, 2013 V983990 removed after 85 days
August 05, 2013 V1020555 $3,880,000 $-600,000 -13%
August 10, 2013 V1020555 $3,480,000 $-1,000,000 -22%
October 25, 2013 V1020555 removed after 81 days
December 05, 2013 V1037881 $3,480,000 $-1,000,000 -22%
February 03, 2014 V1037881 removed after 60 days
February 08, 2014 V1045999 $3,480,000 $-1,000,000 -22%

v1045999_1

Current Days on Market: 618 (1.69years)
Current ‘Official’ Days on Market: 4
2013 Assessment: $1,499,900
Desperation Score: 34.3

AMAZING 1.18 ACRE (51,400 SQ FT) FLAT “ESTATE” LOT IN QUIET PRIVATE NATURAL SETTING! Drive through the gates of this incredible property and you are immediately struck by the shear size and natural beauty that this “private oasis” has to offer. Live in the cozy 1,945 sq ft home, with a detached glass solarium, while you design your “dream home”. This amazing property is only blocks to schools, Hollyburn Country Club, Capilano Golf Course, and with immediate access to the Highway & Taylor Way, is only minutes to Park Royal Shopping Center and Lions Gate Bridge! This magnificent property is truly “one of a kind”!

This realtor really “loves” quotes.  This property is still “2 and a half times assessment” and is priced “ridiculously”


#9 ) Address:8865 LAWRENCE WY, Howe Sound, West Vancouver

June 30, 2012 V959580 $3,895,000 $0 0%
November 01, 2012 V959580 removed after 124 days
March 16, 2013 V995915 $3,600,000 $-295,000 -8%
June 24, 2013 V995915 removed after 100 days
July 18, 2013 V1018044 $3,498,000 $-397,000 -10%
August 17, 2013 V1018044 $2,999,000 $-896,000 -23%
January 31, 2014 V1018044 removed after 197 days
February 06, 2014 V1045627 $2,999,000 $-896,000 -23%

v1045627_1

Current Days on Market: 592 (1.62years)
Current ‘Official’ Days on Market: 6
2013 Assessment: $2,817,000
Desperation Score: 26.5

Spectacular newly built Contemp waterfront residence. Exquisitely finished offering approx 6570 sqft on 3 levels w/smashing ocean views! Bright, open flrpln w/spacious entertainment-sized rms incl magnificent living & dining areas w/soaring ceilings, commercial-grade windows, Cherry H/W & tiled flrs, elegant foyer, stunning gourmet island kit, brkfst bar, E/A & fabulous FR w/media centre – all opening out to a sunfilled terrace overlooking breathtaking ocean & island vws. Down has 4 lg bedrooms incl a sensational master w/sitting area, F/P, lg W/I closet & ensuite, priv den, fantastic rec/media rm – all leading out to a priv backyard w/sundrenched patios surrounding a sparkling pool & Jacuzzi. Truly a magical home!


#8 ) Address:3153 PARKER ST, Renfrew, Vancouver East

August 11, 2012 V965971 $1,288,000 $0 0%
October 02, 2012 V965971 $1,130,000 $-158,000 -12%
July 29, 2013 V965971 removed after 352 days
August 05, 2013 V1020723 $988,000 $-300,000 -23%
December 28, 2013 V1020723 removed after 145 days
February 10, 2014 V1046514 $988,000 $-300,000 -23%

No Picture

Current Days on Market: 550 (1.51years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $901,000
2011 Assessment: $884,000
Desperation Score: 20.2

Completely renovated Vancouver Special with top quality granite entry and staircase. Main floor features all quality wood flooring throughout, ornate crown mouldings & painted ceiling. Gourmet Kitchen with big eating area and French door leading to big covered sundeck. Completely redone ground floor legal one bedroom suite(could be 2 bedrooms). Big recreation room & 2 bathrooms. Granite counter tops & oak kitchen cabinets. Walking distance to transit, school & T&T market. Easy access to skytrain. Possible lane way house above garage. Deep lot 33×146 Ft.

Vancouver Special, enough said


#7 ) Address:4069 W 37TH AV, Dunbar, Vancouver West

May 03, 2012 V947060 $3,790,000 $0 0%
May 12, 2012 V947060 $3,490,000 $-300,000 -8%
June 25, 2012 V947060 removed after 53 days
February 05, 2014 V1045507 $2,900,000 $-890,000 -23%

v1045507_1

Current Days on Market: 7 (0.02years)
Current ‘Official’ Days on Market: 7
2013 Assessment: $3,085,000
2011 Assessment: $3,095,000
Desperation Score: 16.6

This custom built home of over 4,000 square feet sits on a 53′ x 130′ property in lovely Dunbar. Terrific quality and layout with a spacious main floor that includes a gourmet kitchen with attached family room and an office. The upper floor features 4 spacious bedrooms with 3 full baths, including a luxurious master suite. The lower level offers great space for kids with a recreation room, bedroom, plus a 1 bedroom in-law suite. Three car garage as well! Fantastic location on a beautiful street close to Pacific Spirit Park. School Catchment: Southlands Elementary & Point Grey Secondary


#6 ) Address:6388 ROYAL OAK AV, Forglen, Burnaby

February 11, 2007 V629930 $1,598,000 $0 0%
May 31, 2007 V629930 removed after 109 days
June 08, 2007 V651882 $1,698,000 $0 0%
September 01, 2007 V651882 removed after 85 days
March 01, 2008 V691937 $1,798,000 $0 0%
May 11, 2008 V691937 $1,498,000 $-300,000 -17%
June 01, 2008 V691937 removed after 92 days
June 08, 2008 V714756 $1,497,800 $-300,200 -17%
June 27, 2008 V714756 $1,398,880 $-399,120 -22%
September 03, 2008 V714756 removed after 87 days
August 31, 2011 V907398 $1,790,000 $-8,000 0%
October 20, 2011 V907398 removed after 50 days
January 27, 2012 V928032 $1,790,000 $-8,000 0%
July 05, 2012 V928032 removed after 160 days
September 23, 2012 V973045 $1,690,000 $-108,000 -6%
March 19, 2013 V973045 removed after 177 days
March 22, 2013 V997001 $1,558,000 $-240,000 -13%
May 22, 2013 V997001 removed after 61 days
June 17, 2013 V1013092 $1,558,000 $-240,000 -13%
September 30, 2013 V1013092 removed after 105 days
February 06, 2014 V1045824 $1,368,000 $-430,000 -24%

v1045824_1

Current Days on Market: 896 (2.45years)
Current ‘Official’ Days on Market: 6
2013 Assessment: $1,208,000
Desperation Score: 26.7

Rare opportunity to purchase this unique home that offers convenience for the large family or for any entrepreneur who would like to pursue the homestay or student accommodation business for this so well situated home in one of Burnaby’s finest location. This home features 10 bedrooms & 6 bathrooms, plus ample on site parking. Just a few steps to transit & walking distance to shopping, recreation & movie theaters. There certainly is a lot of potential for a great mortgage helper or get the whole extended family to buy your very own home & say good-bye to renting for ever! open sat 12-2pm

“for any entrepreneur who would like to pursue the homestay or student accommodation business”.  Sorry but buying a crappy house with 10 tiny bedrooms and filling it with foreign students does not make you an entrepreneur


#5 ) Address:7680 BLUNDELL RD, Broadmoor, Richmond

October 27, 2012 V978337 $2,688,000 $0 0%
March 01, 2013 V978337 $2,438,000 $-250,000 -9%
April 09, 2013 V978337 removed after 164 days
April 15, 2013 V1001216 $2,438,000 $-250,000 -9%
September 14, 2013 V1001216 $2,368,000 $-320,000 -12%
December 09, 2013 V1001216 $2,198,000 $-490,000 -18%
February 05, 2014 V1001216 removed after 296 days
February 08, 2014 V1045901 $1,998,000 $-690,000 -26%

v1045901_1

Current Days on Market: 473 (1.30years)
Current ‘Official’ Days on Market: 4
2013 Assessment: $1,869,000
Desperation Score: 34.6

Beautiful 4,463sqft Family Home in Prestigious Broadmoor. Built to the highest standards, this Noort Built home sits on a 12,000 sqftlot w/South facing backyrd. Designed with the family in mind, 7 bedrooms total each benefit from ensuite bath.2 Master Suites, up and main(great for Extnd Family or Nanny) High-line Wolf 6 burner range, xtra capacity Jenn-air Fridge, built-in cappuccino machine highlight the Chef’s Kitchen w/separate Wok Kitchen. This home boasts grand double height ceilings, extensive cabinetry in the kitchen and masterful millwork. Enjoy the comforts of radiant heat, HRV and air conditioning inside. Outside, gorgeous landscaping and large private backyrd. 2/5/10Warranty. OPEN Sat & Sun Feb 8 & 9, 2-4pm.


#4 ) Address:1136 DEVONSHIRE CR, Shaughnessy, Vancouver West

October 10, 2009 V792358 $2,150,000 $0 0%
January 03, 2010 V792358 removed after 85 days
March 07, 2010 V813507 $1,980,000 $-170,000 -8%
April 20, 2010 V813507 removed after 44 days
April 24, 2010 V824775 $1,798,000 $-352,000 -16%
May 26, 2010 V824775 removed after 32 days
August 20, 2011 V905968 $2,980,000 $0 0%
August 31, 2011 V905968 $2,850,000 $-130,000 -4%
October 17, 2011 V905968 removed after 58 days
October 20, 2011 V916490 $2,690,000 $-290,000 -10%
November 04, 2011 V916490 $2,980,000 $0 0%
February 22, 2012 V916490 $2,690,000 $-290,000 -10%
March 02, 2012 V916490 removed after 134 days
March 08, 2012 V935909 $2,480,000 $-500,000 -17%
April 18, 2012 V935909 removed after 41 days
September 22, 2012 V972802 $2,990,000 $0 0%
October 17, 2012 V972802 $2,880,000 $-110,000 -4%
January 28, 2013 V972802 removed after 128 days
February 01, 2013 V988156 $2,780,000 $-210,000 -7%
March 13, 2013 V988156 removed after 40 days
March 21, 2013 V996792 $2,680,000 $-310,000 -10%
May 12, 2013 V996792 removed after 52 days
May 21, 2013 V1007991 $2,690,000 $-300,000 -10%
September 20, 2013 V1007991 removed after 122 days
September 28, 2013 V1029334 $2,680,000 $-310,000 -10%
October 30, 2013 V1029334 $2,580,000 $-410,000 -14%
January 29, 2014 V1029334 removed after 123 days
February 06, 2014 V1045643 $2,180,000 $-810,000 -27%

v1045643_1

Current Days on Market: 907 (2.48years)
Current ‘Official’ Days on Market: 6
2013 Assessment: $2,149,000
2011 Assessment: $2,436,000
Desperation Score: 40.2

back yard. Excellent holding property for INVESTOR OR BUILDER. MUST SEE !

“back yard. “.  What the hell is wrong with you Victor Kwan????  One of the worst property descriptions ever.  The owners deserve to get foreclosed on.  Check craigslist and you’ll find better descriptions from people trying to sell a used DVD player and this is a > $2 million home.


#3 ) Address:5907 – 5929 MARINE DR, Eagleridge, West Vancouver

May 17, 2008 V707019 $3,995,000 $0 0%
August 12, 2008 V707019 removed after 87 days
November 09, 2008 V742308 $2,900,000 $-1,095,000 -27%
May 07, 2009 V742308 removed after 179 days
March 09, 2012 V923186 $2,650,000 $-1,345,000 -34%
February 06, 2014 V923186 removed after 699 days
February 10, 2014 V1046212 $2,850,000 $-1,145,000 -29%

v1046212_1

Current Days on Market: 705 (1.93years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $2,440,000
Desperation Score: 5.4

Stunning Eagle Harbour parcel totaling 81,515 sq ft of land. The ocean views from this site are spectacular and look past the marina and Eagle Island. A rock outcropping offering 4 lots to be sold as one package with the sea view walk bordering the rear of the property. The lots vary in size from 17,000 sq ft to over 23,000 sq ft. This is a rare opportunity to build your private view estate or develop this site with new homes!

Price increase lol


#2 ) Address:5358 KEW CLIFF RD, Caulfeild, West Vancouver

October 06, 2006 V588935 $2,995,000 $0 0%
October 30, 2006 V588935 removed after 24 days
September 23, 2007 V669957 $4,200,000 $0 0%
October 24, 2007 V669957 $3,950,000 $-250,000 -6%
May 06, 2008 V669957 $3,495,000 $-705,000 -17%
December 09, 2008 V669957 removed after 443 days
January 17, 2009 V748716 $3,495,000 $-705,000 -17%
July 16, 2009 V748716 removed after 180 days
April 04, 2010 V819725 $2,995,000 $-1,205,000 -29%
July 06, 2010 V819725 $2,499,000 $-1,701,000 -41%
July 24, 2010 V819725 $3,200,000 $-1,000,000 -24%
August 31, 2010 V819725 $2,698,000 $-1,502,000 -36%
October 01, 2010 V819725 removed after 180 days
October 08, 2010 V853790 $2,698,000 $-1,502,000 -36%
October 29, 2010 V853790 removed after 21 days
August 25, 2011 V906744 $4,088,000 $-112,000 -3%
August 31, 2011 V906744 $4,290,000 $0 0%
September 20, 2011 V906744 $4,158,000 $-132,000 -3%
October 25, 2011 V906744 $4,870,000 $0 0%
November 24, 2011 V906744 removed after 91 days
December 22, 2011 V922782 $4,870,000 $0 0%
March 13, 2012 V922782 $4,380,000 $-490,000 -10%
April 03, 2012 V922782 $3,990,000 $-880,000 -18%
June 16, 2012 V922782 $3,750,000 $-1,120,000 -23%
July 14, 2012 V922782 removed after 205 days
August 25, 2012 V968044 $3,468,000 $-1,402,000 -29%
February 07, 2013 V968044 $3,198,000 $-1,672,000 -34%
March 25, 2013 V968044 removed after 212 days
April 05, 2013 V999154 $3,198,000 $-1,672,000 -34%
August 17, 2013 V999154 $3,350,000 $-1,520,000 -31%
November 19, 2013 V999154 removed after 228 days
February 06, 2014 V1045829 $3,350,000 $-1,520,000 -31%

v1045829_1

Current Days on Market: 902 (2.47years)
Current ‘Official’ Days on Market: 6
2013 Assessment: $2,196,000
Desperation Score: 17.2

Shaun Wang doesn’t even bother putting in a description and yet it is still better than the description from #4.  This house has been on the market for the better part of 8 years and is still 50% over assessment


#1 ) Address:6531 YEW ST, S.W. Marine, Vancouver West

October 01, 2010 V852813 $1,099,000 $0 0%
October 27, 2010 V852813 removed after 26 days
July 18, 2012 V962515 $2,798,000 $0 0%
September 20, 2012 V962515 removed after 64 days
September 27, 2012 V973601 $2,788,000 $-10,000 0%
October 02, 2012 V973601 $2,680,000 $-118,000 -4%
November 07, 2012 V973601 $2,468,000 $-330,000 -12%
January 31, 2013 V973601 removed after 126 days
February 06, 2013 V988990 $2,388,000 $-410,000 -15%
April 07, 2013 V988990 $2,288,000 $-510,000 -18%
July 12, 2013 V988990 removed after 156 days
July 18, 2013 V1017793 $1,790,000 $-1,008,000 -36%
July 25, 2013 V1017793 $2,180,000 $-618,000 -22%
August 01, 2013 V1017793 removed after 14 days
August 22, 2013 V1023213 $2,249,000 $-549,000 -20%
November 23, 2013 V1023213 $2,099,888 $-698,112 -25%
January 29, 2014 V1023213 removed after 160 days
February 08, 2014 V1045898 $1,850,000 $-948,000 -34%

v1045898_1

Current Days on Market: 574 (1.57years)
Current ‘Official’ Days on Market: 4
2013 Assessment: $2,227,000
Desperation Score: 54.4

Prime Kerrisdale/Marine Area. Architectural design w/ detailed finishings throughout. 5 bedrooms. Well thought out floor plan w/ Feng Shui in mind. Open floor plan, seldom available, wok kitchen. Mostly available in larger lot size. Huge rec room in basement for your entertainment w/ large bright windows. Magee/Maple Grove School District. Minutes to UBC, Downtown, Golf Courses. 2-5-10 Home Warranty. Must See! 1st Open House: Sun, Feb 9th, 2-4 PM.

Even with a price increase compared to last summer this new build is almost $400K below assessment

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15 responses to “Weekly Drop Metro Vancouver Detached – February 10, 2014

  1. Skook February 11, 2014 at 1:54 pm

    Excellent snark on #4, Observer, with extra dig at #2. You’re cooking…LOL.

  2. Brian February 11, 2014 at 2:17 pm

    Interesting article here on the Budget. So are they closing this program and will it impact pricing of houses? Any thoughts?

    http://www.theglobeandmail.com/news/politics/tories-new-budget-to-close-program-giving-investors-path-to-citizenship/article16792106/

    • an observer February 11, 2014 at 5:19 pm

      It has to have an impact on higher end homes with a trickle down impact that will affect all properties to some degree. Tough to guess how much of an impact it will have but it’s definitely another negative factor to add to the list

  3. Real Estate Tsunami February 11, 2014 at 2:28 pm

    Can’t blame the realtors for getting lazy.
    These properties have been on the market for such a long time that the realtors probably have forgotten about them.

  4. Aman Gupta February 11, 2014 at 5:00 pm

    Love the comments as they make so much sense. Around 6 months back, i was at a friend’s house in fleetwood…a small get-together. Later towards the evening i got to know that most of the other guests were property dealers. Being a new migrant I was probably the bait…having studied property closely..nothing worked. I politely advised my friend to sell his house and he jumped from his seat with anger…WHY SHOULD I? Here are the answers……….

  5. Wibble February 11, 2014 at 5:40 pm

    Are the 2014 tax assessments not out for these new posts? New Westminster is and it’s a great read 🙂

  6. Vulture Fun February 11, 2014 at 6:17 pm

    Snark on, dude. WHAT THE HELL IS WRONG WITH YOU, VICTOR KWAN?!? Still laughing.

  7. Shawna February 11, 2014 at 9:17 pm

    For anyone who might be interested (seems the first 5 lines got chopped) Eco Realty posted this full description:
    $2,180,000 Est. $7,533 /month
    1136 Devonshire Crescent, Vancouver MLS® V1045643

    PRESTIGIOUS SHAUGHNESSY LOCATION. CHARMING CHARACTER HOME. Over 3,330 sq. ft.. Tastefully updated spacious 5 bedroom family home, 4.5 baths, newer hardwood floor thru out, newer carpets, gourmet kitchen with newer kitchen cabinetry stainless steel appliances, new bathroom, skylight, sunroom. Potential 2 bedroom suite in lower level as mortgage helper. PARK-LIKE GARDEN with secured fenced back yard with SOUTHERN EXPOSURE Backyard.
    Excellent holding property for INVESTOR OR BUILDER. MUST SEE!

  8. Gerry Gormley March 6, 2014 at 5:51 pm

    Wonder if I might pick your brain?
    V1025193…35 year-old apartment building. How close to asessed value is appropriate for asking price?
    Is “recently refurbished” code for bitched contingency fund?
    Thank you,
    Gerry Gormley

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