Vancouver Price Drop

Documenting Vancouver real estate price movements

Weekly Drop Metro Vancouver Detached – March 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.

Vancouver West is home to 4 of the listings including 2 of the top 3 drops being in Dunbar


#10 ) Address:38 CLIFF AV, Westridge, Burnaby

August 05, 2013 V1020921 $1,450,000 $0 0%
August 15, 2013 V1020921 $1,580,000 $0 0%
October 30, 2013 V1020921 removed after 86 days
November 15, 2013 V1035846 $1,490,000 $-90,000 -6%
January 16, 2014 V1035846 $1,390,000 $-190,000 -12%
March 07, 2014 V1035846 removed after 112 days
March 10, 2014 V1051416 $1,290,000 $-290,000 -18%

v1051416_1

Current Days on Market: 219 (0.60years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $1,191,000
Desperation Score: 31.5

Fantastic Inlet View. Well price, A Hugh Corner Lot with lots of potential. Located at the foot hill of Burnaby Mountain and Simon Fraser University. A modern updated house will Asian taste. Enjoy the great scenary with a cup of tea at Your own balcony

Catherine Cheung has turned this entire description into a train wreck.  Spell check maybe?  Grammar check?  Anything?  


#9 ) Address:2483 W 19TH AV, Arbutus, Vancouver West

June 13, 2010 V836056 $3,189,000 $0 0%
December 31, 2010 V836056 removed after 201 days
January 16, 2011 V863755 $3,368,000 $0 0%
February 17, 2011 V863755 removed after 32 days
December 07, 2011 V921719 $4,388,000 $0 0%
January 14, 2012 V921719 $4,180,000 $-208,000 -5%
March 15, 2012 V921719 removed after 99 days
March 19, 2012 V937858 $3,950,000 $-438,000 -10%
May 02, 2012 V937858 removed after 44 days
May 05, 2012 V947746 $3,798,000 $-590,000 -13%
May 29, 2012 V947746 $3,690,000 $-698,000 -16%
November 26, 2012 V947746 removed after 205 days
January 06, 2013 V983855 $3,690,000 $-698,000 -16%
March 13, 2013 V983855 $3,500,000 $-888,000 -20%
May 28, 2013 V983855 removed after 142 days
June 06, 2013 V1010762 $3,500,000 $-888,000 -20%
December 28, 2013 V1010762 removed after 205 days
January 16, 2014 V1040421 $3,580,000 $-808,000 -18%
February 28, 2014 V1040421 removed after 43 days
March 05, 2014 V1050177 $3,580,000 $-808,000 -18%

v1050177_1

Current Days on Market: 826 (2.26years)
Current ‘Official’ Days on Market: 7

2013 Assessment: $3,446,000

2012 Assessment: $3,351,000
2011 Assessment: $3,655,000
2011 Last Sale: $3,017,857 on 15/Feb/2011
Total Profit IF sold for list price: 169,197 transaction costs and 562,143 profit on sale = Profit of 392,946
Desperation Score: 18.8

This SOUTH facing 3-story custom built house with NEW home warranty in QUIET street with a handful of natural sunlight shining into the HIGH ceiling foyer through BIG windows and skylights. Located in famous Arbutus of Van West. Occupied &well-maintained by the pride of owner. High End Appliance with Double Chinese Kitchen.Just steps away from Trafalgar Elementary, Prince of Wales Secondary, 5 min drive to Lord Byng Secondary, shopping mall & Trafalgar Park. The 4058 SF living space with 6 bedrooms, 4 full & 2 half bathrooms, & 4 door garage + 1 lane way (5 PARKINGs) are designed with more spacious,comfortable & functional layout.The half-basement features home theatre,recreation room, and a BRIGHT suite.Show well & Easy to show.

They purchased this new build for $3,017,857 + GST so their actual profit at current list price is about $240,000 but considering the fact that they’ve been trying to flip this since the same year they bought it, it has been listed for over 2 years and is still higher than the price from a year ago you have to expect that they’ll be in the red before this is done.  At keast is has “5 PARKINGs”.  Benson Wang, if you’re going to capitalize a word then make sure it makes sense.


#8 ) Address:1922 E 64TH AV, Fraserview, Vancouver East

April 22, 2010 V824241 $799,900 $0 0%
May 13, 2010 V824241 removed after 21 days
August 05, 2013 V1020896 $2,180,000 $0 0%
October 04, 2013 V1020896 $1,998,000 $-182,000 -8%
November 23, 2013 V1020896 removed after 110 days
December 02, 2013 V1037663 $1,890,000 $-290,000 -13%
January 22, 2014 V1037663 $1,838,000 $-342,000 -16%
February 05, 2014 V1037663 $1,798,000 $-382,000 -18%
March 05, 2014 V1037663 $1,738,000 $-442,000 -20%

v1037663_1

Current Days on Market: 219 (0.60years)
Current ‘Official’ Days on Market: 100
2013 Assessment: $1,575,000
2011 Last Sale: $760,000 on 24/Feb/2011  (lot sale)
Desperation Score: 35.3

Brand new custom built property by experienced builder in Fraserview area! High ceiling, wok kitchen, hardwood flooring, windows with aluminum frames outside, HRV/air conditioning. Potential 2 2-bedrooms suites in basement. Unobstructed view of Richmond + 2 bedrooms laneway house as bonus!! Easy to show – call today and book your private showing!

New build is down $442K


#7 ) Address:1280 OTTAWA AV, Ambleside, West Vancouver

May 28, 2013 V1009273 $2,499,000 $0 0%
June 04, 2013 V1009273 $2,498,000 $-1,000 0%
August 22, 2013 V1009273 $2,298,000 $-201,000 -8%
November 29, 2013 V1009273 $2,198,000 $-301,000 -12%
February 13, 2014 V1009273 $2,098,000 $-401,000 -16%
March 05, 2014 V1009273 $1,980,000 $-519,000 -21%

v1009273_1

Current Days on Market: 288 (0.79years)
Current ‘Official’ Days on Market: 288
2013 Assessment: $2,282,000
Desperation Score: 33.4

Sunny S.W. exposure with some city and ocean VIEWS, huge decks. This house is unique in design and is fabulous for entertaining. Gourmet kitchen open to spacious family room with floor to ceiling windows & heated floors. Features include hot water radiant heat under Mexican tile floor, separate entertainment counter with bar fridge and sink and additional dishwasher. California shutters, skylights, vaulted ceiling. Formal dining room and living room with hardwood floors. What makes this home unique is that it has two suites with entraces from Netley Place. One is never-lived 3 bedrm/2 bth rm in-law suite with 10 ft ceiling and another is 2 bedroom nanny suite. This is a must see place.

“entraces”  $300K below assessment in Ambleside


#6 ) Address:7251 SIDAWAY RD, East Richmond, Richmond

January 28, 2012 V928139 $5,980,000 $0 0%
July 06, 2012 V928139 $4,880,000 $-1,100,000 -18%
January 01, 2013 V928139 removed after 339 days
March 10, 2014 V1051457 $4,680,000 $-1,300,000 -22%

v1051457_1

Current Days on Market: 2 (0.01years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $3,363,000
Desperation Score: 9.1

13.83 acres of cranberry farmland on the prestigious Sidaway with 1,107 ft frontage. Sits on the corner of future Granville Avenue. Bulid your dream mansion, develop for agriculture related business or hold as a trouble-free investment.


#5 ) Address:7801 WOODHURST DR, Forest Hills, Burnaby

July 01, 2007 V654409 $878,000 $0 0%
July 25, 2007 V654409 removed after 24 days
August 10, 2011 V904089 $1,498,000 $0 0%
September 13, 2011 V904089 $1,398,000 $-100,000 -7%
March 17, 2012 V904089 $1,369,000 $-129,000 -9%
April 03, 2012 V904089 removed after 237 days
June 14, 2012 V956461 $1,393,000 $-105,000 -7%
July 21, 2012 V956461 $1,249,000 $-249,000 -17%
December 01, 2012 V956461 removed after 170 days
March 10, 2014 V1051465 $1,148,800 $-349,200 -23%

v1051465_1

Current Days on Market: 2 (0.01years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $1,084,000
Desperation Score: 14.3

Exclusive 5 bedroom / 4.5 bathroom home in the upscale Forest Hills neighbourhood. Property sits on a large corner lot on the north side of the street and has three sides of exposure from the East, South and North! Well maintained house with a 3 year old roof, 1 year old hot water tank and the furnace was maintained 2 years ago. Inside, this home has been renovated with walnut hardwood flooring and stainless steel appliances. It is ready for you to move in. Call today!

” furnace was maintained 2 years ago” Thanks M in the comments, I missed this awesome quote.  They forgot to mention that the grass was recently mowed.


#4 ) Address:35 W 41ST AV, Cambie, Vancouver West

October 25, 2007 V675121 $698,000 $0 0%
November 23, 2007 V675121 removed after 29 days
January 12, 2008 V683095 $698,000 $0 0%
March 15, 2008 V683095 $668,000 $-30,000 -4%
May 07, 2008 V683095 removed after 116 days
March 28, 2012 V939689 $1,250,000 $0 0%
March 25, 2013 V939689 removed after 362 days
March 10, 2014 V1051400 $888,000 $-362,000 -29%

v1051400_1

Current Days on Market: 2 (0.01years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $830,700
2011 Assessment: $922,500
Desperation Score: 20.8

A cozy solid bungalow w/ bsmt home located in the heart of Cambie area. Many updates w/ rough-in kitchen in bsmt for potential mortgage helper. Walking distance to QE Park, Oakridge Mall and Canada Line. Great investment w/ lots of potential. Be quick. Open House: Sunday, March 16th, 2-4 PM.

Nice attempt at $1.25 million…  A sub $900K home in Vancouver West – will $888 be a lucky number?


#3 ) Address:4626 DUNBAR ST, Dunbar, Vancouver West

April 03, 2011 V879744 $1,500,000 $0 0%
April 20, 2011 V879744 removed after 17 days
October 19, 2011 V916262 $2,388,000 $0 0%
November 22, 2011 V916262 $2,200,000 $-188,000 -8%
February 10, 2012 V916262 removed after 114 days
April 18, 2013 V1001797 $1,880,000 $-508,000 -21%
February 25, 2014 V1001797 removed after 313 days
March 05, 2014 V1050154 $1,690,000 $-698,000 -29%

v1050154_1

Current Days on Market: 328 (0.90years)
Current ‘Official’ Days on Market: 7
2013 Assessment: $1,443,900
2011 Assessment: $1,355,000
Desperation Score: 21.1

Fabulous value in this beautiful early century 5 bedroom, 3 bathroom character home sitting on a large 46×120 lot. Your new home has three levels, recently and tastefully updated, providing over 2000 sf of living area. Excellent east facing back yard for breakfasts, barbecues and your veggie garden. Great location with high walkability score: Dunbar Community Centre, restaurants, Dunbar Theatre, shopping. And best yet, blocks to Pacific Spirit park, St. Georges, and UBC. View photos online and call for showings schedule.


#2 ) Address:5251 CALDERWOOD CR, Lackner, Richmond

March 16, 2011 V875590 $1,499,000 $0 0%
October 01, 2011 V875590 removed after 199 days
July 22, 2012 V963263 $1,068,000 $-431,000 -29%
September 07, 2012 V963263 removed after 47 days
June 20, 2013 V1013308 $1,298,000 $-201,000 -13%
July 25, 2013 V1013308 $1,250,000 $-249,000 -17%
January 16, 2014 V1013308 $1,120,000 $-379,000 -25%
March 04, 2014 V1013308 removed after 257 days
March 10, 2014 V1051123 $998,000 $-501,000 -33%

v1051123_1

Current Days on Market: 265 (0.73years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $1,014,000
2011 Assessment: $1,132,800
Desperation Score: 35.1

Well maintained Rancher on huge 8,716 sq ft lot with north backyard at excellent Lackner area in very popular West Richmond Subdivision! This home features 3 bedrooms and 2 bathrooms and many new homes on the quiet street. No ditches. Close to shopping mall, schools and public transit. Buyer to move in or build a dream home! Drive by first!


#1 ) Address:3590 W 30TH AV, Dunbar, Vancouver West

October 19, 2011 V916250 $2,750,000 $0 0%
November 22, 2011 V916250 $2,500,000 $-250,000 -9%
April 04, 2012 V916250 removed after 168 days
April 18, 2013 V1001798 $2,088,000 $-662,000 -24%
May 25, 2013 V1001798 $1,980,000 $-770,000 -28%
February 25, 2014 V1001798 removed after 313 days
March 05, 2014 V1050148 $1,790,000 $-960,000 -35%

v1050148_1

Current Days on Market: 328 (0.90years)
Current ‘Official’ Days on Market: 7

2013 Assessment: $1,608,000
2012 Assessment: $1,454,000
Desperation Score: 25.7

Large Vancouver Special with 5 bedroom, 3 bathrooms and over 2900 sf of finished area on two floors. Perfect southwest 48×120 corner lot in prime Dunbar neighbourhood. Renovate this large home and enjoy one of Vancouver’s finest neighbourhoods. Walk to Dunbar strip caf?s, restaurants, boutique stores. Blocks to Pacific Spirit Park, UBC, and St. Georges School. It’s the perfect location in a prime neighbourhood. View photos online and call for a private showing.

$2.75 million for a vancouver special on a corner lot beside Dunbar?  Almost a million dollars down and counting

9 responses to “Weekly Drop Metro Vancouver Detached – March 10, 2014

  1. M- March 11, 2014 at 9:49 am

    5 – “furnace was maintained 2 years ago.” Wow, that seals the deal! You did your basic maintenance to keep the house heated.

    My landlord recently had a plumber, electrician, and handyman in to fix a variety of problems, an appliance tech in to fix a leaky washer, and a gutter cleaner to clear blocked gutters. Oh, and a gas guy to fix the water heater. Does that make the rental house worth more?

  2. Frank March 11, 2014 at 10:45 am

    #4 Don’t think that $888,0000 will work they will be lucky to get the assessed at $830,000 if even that. It’s on a busy noisy street, rooms are small and there’s no sidewalk.

  3. dunbarfarmer March 11, 2014 at 4:09 pm

    #1 is on the north corner of the block that was the subject of a rezoning request that was turned down (Pacific Arbour, high end retirement residence, wanted at least another level than current zoning). All the properties in that block had inflated prices in anticipation of the rezoning. Looks like it spilled over into the next block south as well (see #3)

  4. youtoldus.so March 11, 2014 at 5:39 pm

    Ahh- the renowned picturesque foothills of Burnaby Mountain. Enjoying a cup of tea on My own balcony. But, have I got Asian taste?
    Thanks so much for these. Makes my day!

  5. LS in Arbutus March 11, 2014 at 8:12 pm

    I love your work thanks! I know it’s likely a lot to ask, but it would be interesting to see the price drops for the top 10 houses in a particular neighbourhood like Dunbar, Arbutus or Point Grey, etc. Anyhow, with all your free time! LOL! Thanks again!

  6. Seeking Knowledge... March 12, 2014 at 1:04 pm

    I so much look forward to this every week, but I do feel a little guilty enjoying other people’s desperation. Condo’s are falling fast, so houses will be dragged along. Spring is supposed to be the hot RE season and I really don’t see buyer’s willing to shell out their life savings and going into mortal debt just to say they own property (well, actually the bank owns it).

    I wonder if house prices will drop faster than the Canucks?

  7. Exurban March 12, 2014 at 6:42 pm

    #7 is less than a football field away from the Upper Levels highway. Bit of a stretch calling that Ambleside.

  8. watergrl March 15, 2014 at 7:01 pm

    I love that you have come back to track the real estate bubble in Van and Lower Mainland. I appreciate your work and your terrific humour. Carry on!

  9. an observer April 6, 2014 at 11:08 am

    Whipmaster the neighbourhood idiot who manages to cherry pick the stupidest sales said:

    “Hey Fawkers! 35 West 41st sold in 9 days for full price…. so were the 888’s lucky?
    Will you mention this sale to the rest of your following? Or maybe you don’t want to spoil the party.”

    What our amusing friend failed to mention is that it was listed for $888K – this is Vancouver West… Under $900K SFH in Vancouver West and he is pointing this out as bullish? What he also failed to mention is that one year ago it was listed for $1.25 million!!! It’s number 4 in the price drop list you dummy!

    Once again Whipmaster rubs a few brain cells together to do the opposite of what he had planned. Thanks pal!

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