Vancouver Price Drop

Documenting Vancouver real estate price movements

Weekly Drop Metro Vancouver Attached – March 18, 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.

What becomes more and more clear when you look at long term listing prices of attached homes is that your “investment” has been taking a beating over the last 7 years or so


#10 ) Address:665 W 15TH ST, Hamilton, North Vancouver

April 09, 2012 V941587 $889,000 $0 0%
May 03, 2012 V941587 $879,900 $-9,100 -1%
May 29, 2012 V941587 $859,000 $-30,000 -3%
October 16, 2012 V941587 removed after 190 days
June 24, 2013 V1014306 $778,900 $-110,100 -12%
September 02, 2013 V1014306 removed after 70 days
October 14, 2013 V1031800 $748,000 $-141,000 -16%
November 11, 2013 V1031800 $728,000 $-161,000 -18%
January 04, 2014 V1031800 removed after 82 days
January 16, 2014 V1040758 $709,000 $-180,000 -20%
February 08, 2014 V1040758 $699,000 $-190,000 -21%
February 22, 2014 V1040758 $689,000 $-200,000 -22%
March 18, 2014 V1040758 $679,000 $-210,000 -24%

v1040758_1

Current Days on Market: 268 (0.73years)
Current ‘Official’ Days on Market: 62
2013 Assessment: $763,000
Desperation Score: 30.3

New 1/2 duplex in a central location close to all amenities. Offering an open plan main floor including bright living room/dining room with picture windows, family room, and a kitchen with lots of storage space and granite counters. Upstairs features 3 bedrooms, 2 bathrooms including a spacious master with floor to ceiling windows, full ensuite, and a balcony. Downstairs offers three additional bedrooms or dens, and laundry room. Central location close to transit, schools, shopping, and more. Court ordered sale. Sold As Is, Where Is.

Both ends of this duplex make the list this week.  “Court ordered sale. Sold As Is, Where Is.”


#9 ) Address:# 213 6015 IONA DR, University, Vancouver West

January 19, 2008 V683964 $1,036,000 $0 0%
March 27, 2008 V683964 removed after 68 days
March 29, 2008 V697497 $989,000 $-47,000 -5%
September 09, 2008 V697497 removed after 164 days
September 12, 2008 V732730 $899,000 $-137,000 -13%
January 01, 2009 V732730 removed after 111 days
October 03, 2009 V791066 $1,048,000 $0 0%
December 24, 2009 V791066 $978,000 $-70,000 -7%
April 01, 2010 V791066 removed after 180 days
April 09, 2010 V820548 $978,000 $-70,000 -7%
May 17, 2010 V820548 removed after 38 days
April 29, 2013 V1003825 $1,298,000 $0 0%
May 22, 2013 V1003825 removed after 23 days
May 28, 2013 V1009111 $1,230,000 $-68,000 -5%
June 26, 2013 V1009111 removed after 29 days
June 29, 2013 V1015107 $1,150,000 $-148,000 -11%
November 29, 2013 V1015107 removed after 153 days
December 28, 2013 V1039383 $1,068,000 $-230,000 -18%
March 12, 2014 V1039383 removed after 74 days
March 14, 2014 V1052273 $988,000 $-310,000 -24%

v1052273_1

Current Days on Market: 324 (0.89years)
Current ‘Official’ Days on Market: 5
2013 Assessment: $832,000
2011 Assessment: $986,000
Desperation Score: 35.0

Shows beautifully and better than new is this 2 bedrooms + den, 2.5 bathrooms, plus rec/media room in the luxurious concrete Chancellor House by Intracorp. A tree-lined street with mountain views, this high ceiling 1,680 SqFt condo has the best layout with a huge 480 SqFt rec/media room (with separate street entrance!) and an extra large 190 SqFt covered balcony. Custom works include built-in cabinetry in living room, closets, and media room. Upgraded kitchen features granite countertops and backsplashes, marble flooring, and top of the line appliances by Bosch and Jenn Air. A wine fridge and bar fridge downstairs, central vacuum system, and environmentally sustainable hardwood floors throughout – $100,000 spent!

$100,000 spent and still below 2008 listing prices.  Assessment in 2011 was almost 20% higher than it is today


#8 ) Address:# 3104 938 NELSON ST, Downtown, Vancouver West

March 21, 2007 V636537 $1,248,000 $0 0%
April 17, 2007 V636537 $1,199,900 $-48,100 -4%
May 23, 2007 V636537 removed after 63 days
June 02, 2007 V650819 $1,199,000 $-49,000 -4%
June 15, 2007 V650819 $1,098,000 $-150,000 -12%
July 03, 2007 V650819 removed after 31 days
January 02, 2009 V744094 $1,188,000 $-60,000 -5%
April 19, 2009 V744094 removed after 107 days
April 23, 2009 V762804 $1,188,000 $-60,000 -5%
May 07, 2009 V762804 $1,098,900 $-149,100 -12%
September 16, 2009 V762804 removed after 146 days
September 19, 2009 V788157 $1,069,000 $-179,000 -14%
March 06, 2010 V788157 removed after 168 days
January 07, 2012 V923822 $1,118,000 $-130,000 -10%
February 29, 2012 V923822 $1,095,800 $-152,200 -12%
May 12, 2012 V923822 $1,038,000 $-210,000 -17%
August 01, 2012 V923822 removed after 207 days
September 08, 2012 V970067 $1,000,000 $-248,000 -20%
December 01, 2012 V970067 removed after 84 days
February 23, 2013 V992281 $1,000,000 $-248,000 -20%
July 06, 2013 V992281 removed after 133 days
August 28, 2013 V1023987 $998,000 $-250,000 -20%
January 16, 2014 V1023987 removed after 141 days
January 31, 2014 V1044552 $998,000 $-250,000 -20%
March 14, 2014 V1044552 $949,000 $-299,000 -24%

v1044552_1

Current Days on Market: 802 (2.20years)
Current ‘Official’ Days on Market: 47
2013 Assessment: $814,000
2011 Assessment: $835,000

sold in November 2010 for $1,005,000.  If sold for asking it will be a $111K loss adjusted for transactional costs and realtor fees

sold in August 2007 for $1,035,000.  Previous owners lost $87K when reselling for $1,005,000

sold in June 2005 for $690,000.  These owners who bought in 2005 made a bundle coming out with a $290K tax free profit (assuming they lived there) in 2 years
Desperation Score: 20.4

Enjoy the 180′ panoramic view of Mountain, water & city! This is one of the only few units with over 11′ ceiling in Wall Centre. Nicely renovated with top quality marble on heated floors, this luxury condo comes with excellent 24 hours concierge, free hotel health club membership for pool and fitness centre and 24 hr room services. There are Vida Day Spa,A TM machine and even airport check-in service in the building! The complex is so centrally located and so convenient. with IGA and cinema right around the comer and only steps away from Robson Street shopping. This is a MUST SEE if you are looking for the best quality living in downtown Vancouver!

Listed for over 2 years.  Here is some free advice, that usually means your price is way too high.  This condo has already been sold 3 times in the last 9 years and the only ones making any money since 2007 are the province and the realtors


#7 ) Address:2229 W 13TH AV, Kitsilano, Vancouver West

February 22, 2007 V631731 $655,000 $0 0%
February 25, 2007 V631731 removed after 3 days
September 03, 2011 V907865 $788,000 $0 0%
October 11, 2011 V907865 removed after 38 days
October 14, 2011 V915487 $727,000 $-61,000 -8%
December 16, 2011 V915487 removed after 63 days
April 19, 2012 V944147 $699,000 $-89,000 -11%
May 18, 2012 V944147 $659,000 $-129,000 -16%
June 30, 2012 V944147 $649,000 $-139,000 -18%
September 11, 2012 V944147 removed after 145 days
March 29, 2013 V998013 $629,900 $-158,100 -20%
May 04, 2013 V998013 $619,900 $-168,100 -21%
June 26, 2013 V998013 $609,900 $-178,100 -23%
July 29, 2013 V998013 removed after 122 days
March 13, 2014 V1052051 $599,000 $-189,000 -24%

v1052051_1

Current Days on Market: 6 (0.02years)
Current ‘Official’ Days on Market: 6
2013 Assessment: $681,000
2012 Assessment: $687,000
2011 Assessment: $673,800
Desperation Score: 12.0

Fabulous 2 level townhouse in amazing location! Walk to everything from this lovely, private, well laid out 2 level suite. Lovely finishings including gourmet kitchen with high end appliances, 2 fireplaces, vaulted ceilings, skylights, in-floor heating and hardwood floors. Nice plan with master up and guest room/office on main. Nice outdoor space and both front and back entrances for a detached home feel. Hard to beat in this location at this price! Open House: Sunday, March 16th 2:30-4pm

Kits townhome 12% below assessment


#6 ) Address:# 258 8131 RYAN RD, South Arm, Richmond

July 04, 2008 V702956 $169,900 $0 0%
August 07, 2008 V702956 removed after 34 days
April 22, 2011 V883942 $150,000 $-19,900 -12%
August 15, 2011 V883942 removed after 115 days
March 17, 2014 V1052786 $129,000 $-40,900 -24%

v1052786_1

Current Days on Market: 2 (0.01years)
Current ‘Official’ Days on Market: 2
2013 Assessment: Unknown
Desperation Score: 7.6

Better than rent. Bright & quiet 2 bedrooms w/spacious living room. Walk to Safeway, elementary schools, McRoberts Secondary, bus stop, South Arm Park & community centre. Maintenance fee include hot water, heat, property TAXES & management. All meas approx buyer to verify.

“Better than rent.”.  Cool story bro!


#5 ) Address:# 402 2088 BARCLAY ST, West End, Vancouver West

February 09, 2008 V688064 $1,550,000 $0 0%
March 17, 2008 V688064 removed after 37 days
August 21, 2009 V782803 $1,175,800 $-374,200 -24%
April 10, 2010 V782803 $1,085,000 $-465,000 -30%
April 16, 2010 V782803 removed after 238 days
January 15, 2012 V925640 $1,200,000 $-350,000 -23%
January 17, 2012 V925640 removed after 2 days
March 12, 2014 V1051535 $1,168,000 $-382,000 -25%

v1051535_1

Current Days on Market: 7 (0.02years)
Current ‘Official’ Days on Market: 7
2013 Assessment: $1,087,000
2011 Assessment: $1,199,000
Desperation Score: 7.7

Live life on the edge of world-famous Stanley Park! Welcome to the iconic and prestigious Presidio designed by renowned architect Richard Henriquez. This ‘west of Denman’ luxury boutique building is home to only 28 residences and this one could be yours! Overlooking the lush greenery of the Park, this very special and spacious home boasts an abundance of natural light, overheight ceilings, beautiful oak floors, space for all your treasures and walls for your art! The bright kitchen features stainless appliances and granite countertops. Live next to outstanding natural beauty minutes from restaurants, shops and amenities. Two side-by-side parking, a locker and only two suites on this floor. Tranquility in the city!


#4 ) Address:# 405 650 EVERGREEN PL, Delbrook, North Vancouver

January 13, 2010 V803136 $1,320,000 $0 0%
July 01, 2010 V803136 removed after 169 days
September 19, 2012 V972189 $984,000 $-336,000 -25%
November 20, 2012 V972189 $919,900 $-400,100 -30%
November 23, 2012 V972189 removed after 65 days
October 14, 2013 V1031605 $989,000 $-331,000 -25%
February 28, 2014 V1031605 removed after 137 days
March 17, 2014 V1052797 $989,000 $-331,000 -25%

v1052797_1

Current Days on Market: 156 (0.43years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $915,000
Desperation Score: 17.4

A definite urban living in a sub-urban setting at the Brook, the green bldg in Delbrook area-the base of Grouse Mt in North Van. Enjoy the benefits of healthy & green living w/high efficiency geothermal radiant heating & cooling sys. energy efficiency insulation, solar panel heating, HRV – constantly circulate the fresh mountain air, rain water recycling for irrigation, low flow plumbing fixtures. Luxurious living space with notable features such as; 12′ vaulted ceiling, floor to ceiling windows, sun drenched 802 sq ft deck w/garden setting, a gourmet influenced kitchen (48″ Liebherr fridge-freezer, AEG, DW, AEG induction cook top, convection oven), spa inspired bathroom, loads of storage & large locker adjacent to 2 parkings.


#3 ) Address:# 407 9298 UNIVERSITY CR, Simon Fraser Univ., Burnaby

June 09, 2007 V652367 $478,000 $0 0%
August 11, 2007 V652367 $465,000 $-13,000 -3%
August 24, 2007 V652367 $455,000 $-23,000 -5%
September 05, 2007 V652367 removed after 88 days
January 14, 2008 V683231 $439,000 $-39,000 -8%
August 01, 2008 V683231 removed after 200 days
July 21, 2011 V900778 $649,900 $0 0%
December 16, 2011 V900778 removed after 148 days
April 04, 2012 V940809 $499,500 $-150,400 -23%
June 22, 2012 V940809 removed after 79 days
July 27, 2012 V964046 $499,500 $-150,400 -23%
January 17, 2013 V964046 $474,000 $-175,900 -27%
February 13, 2013 V964046 removed after 201 days
April 21, 2013 V1002565 $474,000 $-175,900 -27%
August 01, 2013 V1002565 removed after 102 days
August 17, 2013 V1022509 $439,800 $-210,100 -32%
October 07, 2013 V1022509 removed after 51 days
November 23, 2013 V1036394 $419,000 $-230,900 -36%
January 16, 2014 V1036394 $409,000 $-240,900 -37%
February 08, 2014 V1036394 $399,900 $-250,000 -38%
February 24, 2014 V1036394 removed after 93 days
March 17, 2014 V1052487 $419,900 $-230,000 -35%

v1052487_1

Current Days on Market: 972 (2.66years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $414,000
Desperation Score: 25.7

Feel close to nature in this spacious corner unit with mountains, water and leafy trees as your setting. Beautiful 2 bedroom plus den suite with engineered hardwood flooring in all rooms but bedrooms and an open concept kitchen with a breakfast bar, granite counter tops and stainless steel appliances. Walking distance to campus, transit, elementary school, childcare centre, grocery store, pharmacy, restaurants & more.

A price increase of 5% and they still take 3rd spot on the weekly drop.  It’s been listed for almost 3 years – price increases are not what I’d suggest


#2 ) Address:1456 BEWICKE AV, Hamilton, North Vancouver

November 01, 2008 V742016 $1,099,500 $0 0%
November 15, 2008 V742016 $1,049,500 $-50,000 -5%
March 31, 2009 V742016 $999,500 $-100,000 -9%
July 01, 2009 V742016 removed after 242 days
September 04, 2011 V908166 $998,000 $-101,500 -9%
September 28, 2011 V908166 removed after 24 days
October 30, 2011 V917848 $859,900 $-239,600 -22%
December 02, 2011 V917848 removed after 33 days
April 09, 2012 V941577 $889,000 $-210,500 -19%
May 03, 2012 V941577 $879,900 $-219,600 -20%
May 29, 2012 V941577 $859,000 $-240,500 -22%
September 12, 2012 V941577 removed after 156 days
June 24, 2013 V1014310 $788,900 $-310,600 -28%
September 02, 2013 V1014310 removed after 70 days
September 20, 2013 V1027986 $748,000 $-351,500 -32%
October 25, 2013 V1027986 removed after 35 days
November 03, 2013 V1034137 $718,000 $-381,500 -35%
January 04, 2014 V1034137 removed after 62 days
January 16, 2014 V1040963 $699,900 $-399,600 -36%
February 08, 2014 V1040963 $689,900 $-409,600 -37%
February 22, 2014 V1040963 $679,000 $-420,500 -38%
March 13, 2014 V1040963 $669,000 $-430,500 -39%

v1040963_1

Current Days on Market: 268 (0.73years)
Current ‘Official’ Days on Market: 62
2013 Assessment: $732,000
Desperation Score: 35.9

New 1/2 duplex in a convenient location close to all amenities. Offering a bright main floor with large picture windows, open plan living room and dining room, and galley kitchen adjacent to a family room and eating area. Upstairs features 3 bedrooms, 2 bathrooms including a spacious master with floor to ceiling windows, full ensuite, and a balcony. Downstairs offers a recreation room, fourth bedroom, and laundry room. Central location close to transit, schools, shopping, and more. Court ordered sale. Sold As Is, Where Is.

“Court ordered sale. Sold As Is, Where Is.”  The other half of the duplex


#1 ) Address:# 1801 5911 ALDERBRIDGE WY, Brighouse, Richmond

May 17, 2008 V708362 $1,150,000 $0 0%
June 10, 2008 V708362 $899,000 $-251,000 -22%
July 18, 2008 V708362 $869,000 $-281,000 -24%
July 22, 2008 V708362 removed after 66 days
May 04, 2013 V1004954 $898,000 $-252,000 -22%
May 30, 2013 V1004954 $825,000 $-325,000 -28%
July 08, 2013 V1004954 removed after 65 days
July 12, 2013 V1016977 $750,000 $-400,000 -35%
November 29, 2013 V1016977 removed after 140 days
December 05, 2013 V1037849 $718,000 $-432,000 -38%
March 12, 2014 V1037849 removed after 97 days
March 14, 2014 V1052282 $688,000 $-462,000 -40%

v1052282_1

Current Days on Market: 319 (0.87years)
Current ‘Official’ Days on Market: 5
2013 Assessment: $775,000
2011 Assessment: $881,000
Desperation Score: 30.1

The best penthouse deal in Central Richmond at just $323/SqFt. Breathtaking 270 degree views to the North, South and, West. This 2 floor penthouse features 2,130 SqFt as per the Strata Plan with 2 bedrooms, 2.5 bathrooms (including a whirlpool tub in the master ensuite with views to the North and West), granite countertops throughout, and a 4 car private garage. Also comes with in suite laundry and storage locker. Enjoy all the amenities which are included in the maintenance fees, such as air conditioning, indoor pool, hot tub, exercise center, and concierge service. Convenient location, close to Richmond Center, transportation, hospital, parks, and schools.

40% off this penthouse

Advertisements

8 responses to “Weekly Drop Metro Vancouver Attached – March 18, 2014

  1. Aman Gupta March 19, 2014 at 5:45 pm

    This information is extremely helpful, i pay one half times EST as rent next door.

  2. Ricky March 19, 2014 at 6:13 pm

    Thank you observer.

  3. Greg March 20, 2014 at 4:50 am

    This is really surprising all I see in the Toronto papers is how the Vancouver market is still booming with a little lag in the condo market. Thanks for the eye-opener with some real data.

  4. Alexcanuck March 20, 2014 at 7:04 am

    10: Empty since new.
    9: Occupied, in the sparse just-passing-through Vancouver RE flipper style.
    8: Occupied, like 9.
    7: Properly occupied by real people.
    6: No inside pics. It might even be better than rent if you know for certain you want to live there for the next 20 years.
    5: Occupied like 9.
    4: Occupied like 9.
    3: Properly occupied by real people.
    2: Empty since new.
    1: Occupied, not staged. Nobody would move a piano in for staging! (I hope…)

    9, 8, 5, 4 all could be staged and empty, they have that too-tidy, too-sparse, nothing hung on the walls, no signs of actual living human beings who eat, sprawl on the couch and poop.

  5. watergrl March 24, 2014 at 6:24 am

    No. 7 taken off the market. Wonder if it sold, or they just want to lay low for awhile? It looked halfway interesting.

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: