Vancouver Price Drop

Documenting Vancouver real estate price movements

Weekly Drop Metro Vancouver Attached – March 11, 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.


#10 ) Address:# 202 1133 HOMER ST, Yaletown, Vancouver West

November 23, 2007 V678938 $595,000 $0 0%
May 01, 2008 V678938 removed after 160 days
May 24, 2012 V951865 $465,000 $-130,000 -22%
June 22, 2012 V951865 $449,900 $-145,100 -24%
July 12, 2012 V951865 removed after 49 days
March 07, 2014 V1050777 $449,000 $-146,000 -25%

v1050777_1

Current Days on Market: 5 (0.01years)
Current ‘Official’ Days on Market: 5
2013 Assessment: $436,000
Desperation Score: 3.7

Fantastic layout in this large one bedroom + den at Yaletown’s H&H building. A chef’s dream with professional Viking gas stove, deluxe stainless appliance package, granite counters w/ large kitchen island and plenty of pantry space. 5-piece bathroom features marble counters, separate shower/tub, double sinks, and walkthrough closet into large master bedroom. Quiet west-facing outlook, plus only 3 units on this floor. Pet and rental friendly. Great gym and 2 rooftop gardens in the building. Call listing agent for private showing.


#9 ) Address:# 3005 2289 YUKON CR, Brentwood Park, Burnaby

September 15, 2007 V668483 $849,900 $0 0%
September 26, 2007 V668483 removed after 11 days
January 09, 2008 V682376 $849,900 $0 0%
February 19, 2008 V682376 removed after 41 days
April 20, 2008 V702479 $799,900 $-50,000 -6%
July 24, 2008 V702479 removed after 95 days
September 19, 2008 V734077 $699,900 $-150,000 -18%
October 17, 2008 V734077 removed after 28 days
March 06, 2014 V1050520 $639,000 $-210,900 -25%

v1050520_1

Current Days on Market: 6 (0.02years)
Current ‘Official’ Days on Market: 6
2013 Assessment: $609,000
Desperation Score: 10.1

Watercolors by Polygon! Stunning Penthouse located in SW Corner overlooking to Metrotown, North Shore & Mt Baker. 2 Bedrooms + Den, 2 private balcony (Almost 355 sqft). Open floor plan, electric f/p in living room, dark laminated floors throughout, granite counters in kitchen and baths, tiled floors. Kitchen with separate eating area, and breakgast bar. Master bedroom with his and her closets, luxury ensuite with double sinks, soaker tub and separate shower. Low E windows, high ceiling, stainless appliances. Insuite laundry. 2 secured parking, 1 storage locker. Mins to Brentwood Skytrain Station, bus, transit, Brentwood Mall, future Whole Foods, 10 mins to Metrotown Shopping. Easy access to Highways, 20 mins to Downtown Van.

“breakgast bar”


#8 ) Address:# 21 120 POWELL ST, Downtown, Vancouver East

October 11, 2007 V673052 $1,499,000 $0 0%
February 07, 2008 V673052 $1,649,000 $0 0%
March 19, 2008 V673052 $1,499,000 $-150,000 -9%
April 03, 2008 V673052 removed after 175 days
April 10, 2008 V699975 $1,495,000 $-154,000 -9%
May 22, 2008 V699975 removed after 42 days
May 28, 2008 V711694 $1,375,000 $-274,000 -17%
July 22, 2008 V711694 $1,299,000 $-350,000 -21%
November 05, 2008 V711694 removed after 161 days
November 14, 2008 V743667 $1,198,850 $-450,150 -27%
December 05, 2008 V743667 $999,950 $-649,050 -39%
February 28, 2009 V743667 $850,000 $-799,000 -48%
April 15, 2009 V743667 removed after 152 days
April 20, 2009 V761858 $849,900 $-799,100 -48%
May 15, 2009 V761858 removed after 25 days
May 31, 2012 V953481 $1,988,000 $0 0%
July 11, 2012 V953481 $1,890,000 $-98,000 -5%
July 24, 2012 V953481 $1,940,000 $-48,000 -2%
August 30, 2012 V953481 removed after 91 days
September 07, 2012 V969684 $1,940,000 $-48,000 -2%
October 12, 2012 V969684 removed after 35 days
January 18, 2013 V985852 $1,880,000 $-108,000 -5%
March 08, 2013 V985852 removed after 49 days
April 26, 2013 V1003365 $1,699,000 $-289,000 -15%
June 15, 2013 V1003365 $1,599,000 $-389,000 -20%
September 23, 2013 V1003365 $1,499,000 $-489,000 -25%
November 27, 2013 V1003365 removed after 215 days
March 10, 2014 V1051139 $1,459,000 $-529,000 -27%

v1051139_1

Current Days on Market: 650 (1.78years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $1,023,000
2011 Assessment: $954,000
Desperation Score: 30.4

The focal point of this loft is the amount of space. Dramatic character loft with over 2700 sq.ft. of living space. “Pilkington House” is a private boutique 7-unit development 1st constructed in 1910. Main features: 2 open plan living rooms, 3 bedrms, 2 full bathrms, 9.5″ high ceilings, plenty of storage & access to a manicured common rooftop patio & garden. Architectural details: stone gas fireplace, polished concrete flooring, reclaimed windows, & exposed brick walls. Large Modernized Chefs kitchen with clean lines & stone surfaces finished with: soft-close cabinetry, 2 wall-mounted ovens, wine fridge, built-in coffee machine – appliances sourced from Jenn-Air & Miele. 2 underground parking stalls. Home for a loft connoisseur.

Listed as high as $1.65 million and as low as $850K about 6 years ago and now the current owners playing the same game relisting at almost $2 million and wondering why 2 years later and a half million dollar drop there still isn’t any interest.


#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%
February 19, 2014 V1044269 $719,000 $-259,000 -26%
March 05, 2014 V1044269 $699,000 $-279,000 -29%

v1044269_1

Current Days on Market: 508 (1.39years)
Current ‘Official’ Days on Market: 40
2013 Assessment: $745,000
Desperation Score: 39.8

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. OPEN HOUSE Sun Feb 16th 2-4pm. Don’t miss this one. No pets, No rentals, 19+, No worries. *click multimedia button for video*

13 MLS numbers in 4 years


#6 ) Address:# 502 535 SMITHE ST, Downtown, Vancouver West

November 04, 2011 V918481 $1,195,000 $0 0%
December 21, 2011 V918481 removed after 47 days
January 27, 2012 V927976 $1,095,000 $-100,000 -8%
May 07, 2012 V927976 removed after 101 days
October 17, 2013 V1032147 $969,900 $-225,100 -19%
December 17, 2013 V1032147 $899,900 $-295,100 -25%
January 04, 2014 V1032147 removed after 79 days
January 22, 2014 V1042880 $899,900 $-295,100 -25%
March 05, 2014 V1042880 $849,000 $-346,000 -29%

v1042880_1

Current Days on Market: 146 (0.40years)
Current ‘Official’ Days on Market: 49
2013 Assessment: $726,000
2011 Assessment: $740,000
Desperation Score: 29.4

THE DOLCE PRIVATE COLLECTION amazing customized suite. The beauty of this suite is enhanced with over $80,000 of upgrades for the ultimate ambiance. For the sophisticated buyer featuring: gourmet European kitchen, custom Caesar stonecountertops, high end S/S appliances, H/W flooring throughout except bedrooms with wool carpeting, all custom mill work closet organizers with Italian hrdwre, glass & wood veneer panels, Duravit vessel counter sink with water fall faucet, floating Quartz countertop, pre-wired sound throughout, remote lighting. Both bthrms are designed for a spa-like feel. Master ensuite furnished with additional custom shelving & heated tower bar. Rare massive 500 sq ft + outdoor patio/deck perfect for entertaining

“DOLCE PRIVATE COLLECTION”, does anyone fall for this crap?


#5 ) Address:# 203 120 E 4TH ST, Lower Lonsdale, North Vancouver

February 07, 2010 V808535 $269,900 $0 0%
March 06, 2010 V808535 $259,900 $-10,000 -4%
April 06, 2010 V808535 removed after 58 days
May 13, 2010 V829658 $259,900 $-10,000 -4%
May 25, 2010 V829658 removed after 12 days
June 30, 2011 V897004 $259,900 $-10,000 -4%
September 09, 2011 V897004 $254,900 $-15,000 -6%
September 20, 2011 V897004 $250,000 $-19,900 -7%
December 15, 2011 V897004 removed after 168 days
January 08, 2012 V924027 $249,900 $-20,000 -7%
January 31, 2012 V924027 $244,900 $-25,000 -9%
March 02, 2012 V924027 $239,900 $-30,000 -11%
April 08, 2012 V924027 removed after 91 days
April 18, 2012 V943727 $244,900 $-25,000 -9%
June 13, 2012 V943727 removed after 56 days
July 23, 2012 V963443 $239,900 $-30,000 -11%
September 05, 2012 V963443 $233,900 $-36,000 -13%
September 11, 2012 V963443 $229,900 $-40,000 -15%
September 18, 2012 V963443 $219,900 $-50,000 -19%
February 01, 2013 V963443 removed after 193 days
February 13, 2013 V989772 $219,900 $-50,000 -19%
March 07, 2013 V989772 $216,900 $-53,000 -20%
April 04, 2013 V989772 $209,900 $-60,000 -22%
June 30, 2013 V989772 removed after 137 days
July 10, 2013 V1016744 $210,000 $-59,900 -22%
October 30, 2013 V1016744 removed after 112 days
November 23, 2013 V1036663 $209,000 $-60,900 -23%
January 17, 2014 V1036663 $205,000 $-64,900 -24%
January 28, 2014 V1036663 $200,000 $-69,900 -26%
February 19, 2014 V1036663 $193,900 $-76,000 -28%
February 28, 2014 V1036663 removed after 97 days
March 06, 2014 V1050566 $189,900 $-80,000 -30%

v1050566_1

Current Days on Market: 986 (2.70years)
Current ‘Official’ Days on Market: 6
2013 Assessment: $189,500
Desperation Score: 21.7

UNBELIEVABLE VALUE! Best priced strata unit in Lower Lonsdale!! Spacious 664 sqft one bedroom suite in this mostly owner-occupied building steps to Lonsdale Avenue and easy walking distance to Lonsdale Quay and the Seabus.This suite is the perfect blank-canvas to keep as is or update and decorate to your heart’s content while the enclosed balcony is the perfect spot to enjoy your morning coffee or create a den whilst taking in the private treed outlook including dogwood, cherry and firs. Parking, locker and one dog or cat allowed (no size restrictions). The roof was replaced in the last few years. Call today for your private showing or come to our OPEN HOUSE SUNDAY MARCH 9th 3pm – 4pm.

Listed for close to 3 years


#4 ) Address:# 401 29 TEMPLETON DR, Hastings, Vancouver East

October 09, 2010 V854182 $1,185,000 $0 0%
November 17, 2010 V854182 $1,039,000 $-146,000 -12%
December 13, 2010 V854182 removed after 65 days
February 05, 2011 V867482 $998,000 $-187,000 -16%
April 21, 2011 V867482 $959,900 $-225,100 -19%
July 07, 2011 V867482 $899,000 $-286,000 -24%
August 01, 2011 V867482 removed after 177 days
September 10, 2011 V909229 $899,000 $-286,000 -24%
March 08, 2012 V909229 $885,000 $-300,000 -25%
June 26, 2012 V909229 removed after 290 days
June 29, 2012 V959276 $875,000 $-310,000 -26%
October 27, 2012 V959276 $849,900 $-335,100 -28%
December 11, 2012 V959276 removed after 165 days
October 17, 2013 V1032152 $834,900 $-350,100 -30%
December 13, 2013 V1032152 $819,900 $-365,100 -31%
February 28, 2014 V1032152 removed after 134 days
March 05, 2014 V1050230 $819,900 $-365,100 -31%

v1050230_1

Current Days on Market: 146 (0.40years)
Current ‘Official’ Days on Market: 7
2013 Assessment: $731,000
2011 Assessment: $767,000
Desperation Score: 15.0

To SEE is to LOVE. A truly exceptional executive PENTHOUSE featuring 1,260+ Sq Ft of indoor living space & an incredible 800+ Sq Ft PRIVATE ROOF DECK offering sweeping mountain, water, city & sunset views. A locked elevator brings you to your foyer and opens up into this stunning home which has been extensively renovated t/o with dark H/W flooring, custom gourmet kitchen & heated travertine bathroom floors. Bring your house sized furniture yet enjoy the security & conveniences of condo living. urThis boutique 9 unit freehold strata located in the heart of Hastings Sunrise is an easy 9 min drive to Downtown or the North Shore. 2 Pkg + Strge included, pets & rental friendly. View Video/Photos on Agent’s Website.

Listed 5 years in a row


#3 ) Address:# 303 2203 BELLEVUE AV, Dundarave, West Vancouver

February 21, 2008 V690106 $1,370,000 $0 0%
June 30, 2008 V690106 removed after 130 days
June 15, 2013 V1012839 $1,098,000 $-272,000 -20%
September 05, 2013 V1012839 $1,067,000 $-303,000 -22%
September 12, 2013 V1012839 removed after 89 days
September 28, 2013 V1029014 $1,047,000 $-323,000 -24%
November 03, 2013 V1029014 $997,000 $-373,000 -27%
February 25, 2014 V1029014 removed after 150 days
March 10, 2014 V1051323 $947,000 $-423,000 -31%

No Picture

Current Days on Market: 270 (0.74years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $826,000
Desperation Score: 34.3

Stroll everywhere from this spacious suite featuring 2 bedrooms, 2 balconies, 2 parking stalls, enclosed solarium & in-suite laundry. All rooms are generously proportioned with views of ocean or mountains. Watch the ships go gliding by and enjoy gorgeous sunsets from the tiled solarium and dining room leading to your large southwest corner balcony. The kitchen has an eating area with peaceful mountain views. The master bedroom has an intimate northwest deck area and a walk-in closet leading to a 4-piece ensuite with soaker tub and separate shower. Building plumbing and rain-screening have been upgraded. Underground parking #54, Lane #19, Locker 35, Room 3.


#2 ) 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%
March 06, 2014 V1044334 $247,900 $-120,900 -33%

v1044334_1

Current Days on Market: 40 (0.11years)
Current ‘Official’ Days on Market: 40
2013 Assessment: $219,300
Desperation Score: 13.2

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!


#1 ) Address:2577 W 8TH AV, Kitsilano, Vancouver West

September 23, 2012 V973226 $2,288,000 $0 0%
October 17, 2012 V973226 $1,988,000 $-300,000 -13%
November 29, 2012 V973226 removed after 67 days
June 15, 2013 V1012604 $1,695,000 $-593,000 -26%
August 30, 2013 V1012604 $1,635,000 $-653,000 -29%
September 18, 2013 V1012604 $1,599,000 $-689,000 -30%
November 07, 2013 V1012604 removed after 145 days
February 05, 2014 V1045346 $1,499,900 $-788,100 -34%
March 05, 2014 V1045346 $1,474,900 $-813,100 -36%

v1045346_1

Current Days on Market: 270 (0.74years)
Current ‘Official’ Days on Market: 35
2013 Assessment: $1,298,000
2011 Assessment: $1,378,000
Desperation Score: 37.4

BUILDER’S OWN CUSTOM-BUILT LUXURY HALF-DUPLEX WITH SOUTH EXPOSURE! Front unit of rare front & back design. 2264 square foot open-plan provides a refreshing feeling of space in this 4-bdrm, 3.5 bath. Includes separate self-contained 1bdrm suite, $1400/month mortgage relief. 9-foot ceilings, two gas fireplaces & floor-plan ideal for entertaining. Very bright with lots of glass, motorized skylights, bay windows. Contemporary interior featuring white cabinets, SubZero fridge, Miele dishwasher, ceramic cooktop & light oak H/W floors on main & upstairs levels. Radiant hot water in-floor heating, California shutters, jacuzzi bath, steam shower, alarm system, central vac. Attached underground garage plus parking in front driveway.

This Kitsilano duplex makes the list again with another drop


 

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3 responses to “Weekly Drop Metro Vancouver Attached – March 11, 2014

  1. Funky monkey March 12, 2014 at 9:15 am

    My friend used to live the the building of #4 I asked him how much they were selling that unit for I thought they were out to lunch.
    Not a great location I used to live near there.
    699k maybe but I would not pay that.

  2. Finally March 12, 2014 at 11:15 am

    I’m still so surprised most listing above 2013 assessment value. In realty, I think 20% less assessment is the right amount to pay if you had to buy a place. Had to buy a place = had a gun to your head with a 2 year old holding the trigger-safety off.

    • an observer March 12, 2014 at 11:36 am

      You have to remember that assessments change every year so for example, the assessments of most of the condo’s on the list are probably less or equal to what they were 5 years ago.

      Also, don’t forget that assessments are a rough estimate. 2 homes that are beside each other on equal sized lots with equal square footage built in the same year will normally have the same assessment but one could be a poorly laid out and badly maintained dump while the other could be a wonderful home and a relative steal at the same price.

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