Vancouver Price Drop

Documenting Vancouver real estate price movements

Weekly Drop Metro Vancouver Detached – May 5, 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 makes the list 5 times and Richmond adds 4


#10 ) Address:3341 W 34TH AV, Dunbar, Vancouver West

June 13, 2008 V715772 $1,695,000 $0 0%
August 19, 2008 V715772 $1,595,000 $-100,000 -6%
October 30, 2008 V715772 removed after 139 days
January 20, 2011 V864350 $2,388,000 $0 0%
February 07, 2011 V864350 removed after 18 days
May 12, 2011 V887763 $2,688,000 $0 0%
May 31, 2011 V887763 $2,588,000 $-100,000 -4%
June 02, 2011 V887763 removed after 21 days
June 08, 2011 V892918 $2,498,000 $-190,000 -7%
June 14, 2011 V892918 removed after 6 days
September 17, 2011 V910659 $2,880,000 $0 0%
December 16, 2011 V910659 removed after 90 days
April 14, 2012 V943102 $2,799,000 $-81,000 -3%
May 23, 2012 V943102 $2,680,000 $-200,000 -7%
December 18, 2012 V943102 removed after 248 days
May 04, 2014 V1061838 $2,280,000 $-600,000 -21%

No Picture

Current Days on Market: 2 (0.01years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $2,049,300
2011 Assessment: $2,113,000
2011 Last Sale: $2,550,000 on 07/Jun/2011
Total Loss IF sold for list price: 123,440 transaction costs and 270,000 loss on sale = LOSS of 393,440
Desperation Score: 13.1

Charming & bright character home on a large 60’x140.25′ (8,415SqFt) lot landscaped property. Nice street appeal. Main floor features cross-hall living & dining rooms, den & updated kitchen overlooks the park-like backyard. 3 spacious bedrooms up with good ceiling height. Basement has 2-bedroom suite. 4-year old shingle roof & updated electrical. Oak & fir floors. Existing house has total of 3,470 SqFt of living space. RS-5 zoning. Hold, renovate or build your dream home up to approximately 5,800 SqFt. Kerrisdale Elementary & Point Grey School Catchment area. OPEN HOUSE MAY 10TH AND MAY 11TH, 2PM-4PM.

Close to a $400K loss if sold for asking – not quite what they had in mind when they tried to flip it for a profit a few months after closing


#9 ) Address:8280 ROBINSON RD, Garden City, Richmond

September 04, 2008 V731020 $1,588,000 $0 0%
January 01, 2009 V731020 removed after 119 days
January 16, 2009 V748448 $1,399,800 $-188,200 -12%
May 15, 2009 V748448 removed after 119 days
June 04, 2009 V769767 $1,358,000 $-230,000 -14%
August 10, 2009 V769767 removed after 67 days
August 13, 2009 V781376 $1,298,000 $-290,000 -18%
September 18, 2009 V781376 removed after 36 days
April 20, 2012 V944443 $1,968,000 $0 0%
May 18, 2012 V944443 removed after 28 days
June 08, 2012 V955275 $2,388,000 $0 0%
July 06, 2012 V955275 $2,228,800 $-159,200 -7%
August 10, 2012 V955275 $2,088,000 $-300,000 -13%
October 04, 2012 V955275 removed after 118 days
December 30, 2012 V983179 $2,077,000 $-311,000 -13%
February 05, 2013 V983179 $2,037,000 $-351,000 -15%
April 03, 2013 V983179 $1,988,000 $-400,000 -17%
June 30, 2013 V983179 removed after 182 days
February 21, 2014 V1048194 $1,890,000 $-498,000 -21%
April 23, 2014 V1048194 removed after 61 days
April 30, 2014 V1060847 $1,880,000 $-508,000 -21%

 

v1060847_1

Current Days on Market: 74 (0.20years)
Current ‘Official’ Days on Market: 6
2013 Assessment: $1,758,000
2011 Assessment: $1,769,000
Desperation Score: 15.8

Central location! Close to city center, transit and schools. Well maintained house with 4508 sqft finished area and 9319 sqft lot size. 5 bedrooms and 6.5 bathrooms, plus large media room and games room. Air conditioning,security system, electric gate, sprinkler system, sunny south facing patio and private hedged backyard. Crystal chandeliers, large entrance hall with high ceilings, imported stone fireplaces, two staircases & beautiful moldings through out.


#8 ) Address:8271 NO 5 RD, McLennan, Richmond

March 06, 2010 V813132 $4,280,000 $0 0%
October 01, 2010 V813132 removed after 209 days
October 16, 2010 V854833 $3,980,000 $-300,000 -7%
April 15, 2011 V854833 removed after 181 days
May 04, 2014 V1062165 $3,280,000 $-1,000,000 -23%

No Picture

Current Days on Market: 2 (0.01years)
Current ‘Official’ Days on Market: 2
2013 Assessment: Assessment: Farm Land
Desperation Score: 14.1


#7 ) 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%
April 01, 2014 V1045999 removed after 52 days
April 30, 2014 V1060944 $3,388,000 $-1,092,000 -24%

 

v1060944_1

Current Days on Market: 701 (1.92years)
Current ‘Official’ Days on Market: 6
2013 Assessment: $1,499,900
Desperation Score: 29.2

VIRANI REAL ESTATE ADVISORS proudly present this 1.18 Acre (51,400 sq. ft.) lot with a 2,500 sq. ft. home in the lower British Properties! A seldom available gated estate offers ultimate privacy surrounded by a park-like setting in a central location. With a 2 bedroom 1.5 bath main house, and a detached solarium and guest house, this home has space for everyone! Features include: Sub Zero & Wolf Appliances, exposed beams, engineered hardwood floors, and a luxurious master ensuite. A great location, close to schools, shopping and all the amenities West Vancouver has to offer!

“VIRANI REAL ESTATE ADVISORS” got to love realtors who try to make the listing about them.  Assessment is way too low, barely above current lot value but the price is still crazy


#6 ) Address:3300 SPRINGFORD AV, Steveston North, Richmond

May 30, 2010 V833878 $758,900 $0 0%
June 15, 2010 V833878 removed after 16 days
March 03, 2011 V872948 $899,000 $0 0%
March 10, 2011 V872948 removed after 7 days
March 19, 2011 V876622 $1,098,000 $0 0%
July 01, 2011 V876622 removed after 104 days
June 28, 2013 V1014843 $2,380,000 $0 0%
September 20, 2013 V1014843 removed after 84 days
September 28, 2013 V1029188 $2,380,000 $0 0%
October 23, 2013 V1029188 $1,880,000 $-500,000 -21%
February 16, 2014 V1029188 $1,798,000 $-582,000 -24%
May 01, 2014 V1029188 removed after 215 days
May 04, 2014 V1062108 $1,798,000 $-582,000 -24%

 

v1062108_1

Current Days on Market: 312 (0.85years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $1,439,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 23.5

Absolutely beautiful & gorgeous new luxurious high end finishing home on prestigious Steveston North area. 3,406 sq ft luxurious living on 60 x 119.85 (7,192sf) lot with a south exposed backyard. Open floor plan with high ceilings foyer, living & family room. Gourmet kitchen & wok kitchen with luxury cabinets, granite countertops & Bosch high end stainless steel appliances. Grand ensuited master bedroom with jetted bathtub, excellent layout with 3 large bedrooms up and an ensuite guest bdrm downstairs. Modern media theater room, crystal chandeliers, security system, radiant heat, central A/C, balance of 2-5-10 new home warranty. Close to schools, shopping & transits. Hugh Boyd high School outstanding IB program & Steves Elementary


#5 ) Address:2491 W KING EDWARD AV, Arbutus, Vancouver West

March 11, 2010 V814072 $1,368,000 $0 0%
March 23, 2010 V814072 $1,338,000 $-30,000 -2%
March 29, 2010 V814072 removed after 18 days
October 15, 2011 V915722 $3,860,000 $0 0%
November 19, 2011 V915722 $3,488,000 $-372,000 -10%
January 12, 2012 V915722 removed after 89 days
January 19, 2012 V926419 $3,486,000 $-374,000 -10%
February 04, 2012 V926419 $3,389,000 $-471,000 -12%
August 01, 2012 V926419 removed after 195 days
January 27, 2014 V1043257 $3,160,000 $-700,000 -18%
February 19, 2014 V1043257 $3,060,000 $-800,000 -21%
March 24, 2014 V1043257 $2,980,000 $-880,000 -23%
April 14, 2014 V1043257 $2,880,000 $-980,000 -25%
May 01, 2014 V1043257 removed after 94 days
May 04, 2014 V1061972 $2,880,000 $-980,000 -25%

 

v1061972_1

Current Days on Market: 99 (0.27years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $2,876,000
2011 Assessment: $2,982,000
Desperation Score: 25.7

Open house at 2-4pm on Sunday May 04, 2014

Hey Sarina Han, the $3 million house is down a million dollars – maybe try writing up a description that says something besides the date and time of the open house?  Maybe?


#4 ) Address:1519 W 33RD AV, Shaughnessy, Vancouver West

June 13, 2010 V828068 $1,100,000 $0 0%
July 13, 2010 V828068 $1,050,000 $-50,000 -5%
September 01, 2010 V828068 removed after 80 days
June 19, 2011 V891167 $1,428,000 $0 0%
June 22, 2011 V891167 removed after 3 days
February 28, 2013 V992987 $4,388,000 $0 0%
May 30, 2013 V992987 removed after 91 days
December 13, 2013 V1038826 $3,680,000 $-708,000 -16%
May 04, 2014 V1038826 $3,190,000 $-1,198,000 -27%

 

v1038826_1

Current Days on Market: 144 (0.39years)
Current ‘Official’ Days on Market: 144
2013 Assessment: $2,580,000
2012 Assessment: Building Unfinished at time of assessment
2011 Assessment: $1,423,000
Desperation Score: 22.3

Inspired by The Crosby House, one of only two remaining examples of the early Modern Period in Vancouver, Peter Cardew Architects created the acclaimed this GARDEN WALL HOUSE, the design that won the Canadian Architects Award of Excellence.his truly one-of-a kind residence will offer cutting-edge chic containing 3 bedrooms with en-suite, 1 power room, 1 den and 1 recreation room(den and recreation could be extra bedrooms). This total 3702 sqft of contemporary living space is located on 4305 sqft of land just at the corner of W 33rd Ave and Granville St. Master bedroom on the main floor with an access of a private elegant yard. This contemporary modern designed home will represent the new era in Vancouver architectural heritage.

Weird looking new build down $1.2 million – looks like I could lie down and touch one fence with my toes and the other with my outstretched arms.  $3.2 million?  


#3 ) 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%
February 26, 2014 V1045643 removed after 20 days
March 03, 2014 V1050112 $2,488,000 $-502,000 -17%
April 29, 2014 V1050112 removed after 57 days
May 01, 2014 V1061169 $2,170,000 $-820,000 -27%

 

v1061169_1

Current Days on Market: 990 (2.71years)
Current ‘Official’ Days on Market: 5
2013 Assessment: $2,149,000
2011 Assessment: $2,436,000
Desperation Score: 42.6

EXCELLENT PRICE FOR FIRST TIME BUYER OR INVESTOR. Prestigious Shaughnessy Location. Charming character home. Over 3,300 sqft.Tastefully updates spacious 6 bedroom family home 4.5 baths. Newer hardwood floor thru out. Gourmet Kitchen. Close to well-known school. Potential 2 bedroom suite in lower level. Park-like garden with secured fenced back yard with southern exposure. A MUST SEE!

Assessment down $300K in 2 years.  “EXCELLENT PRICE FOR FIRST TIME BUYER OR INVESTOR” for all you first time buyers looking for $2.2 million homes


#2 ) Address:6025 WILLOW ST, Oakridge, Vancouver West

July 23, 2011 V901327 $2,860,000 $0 0%
July 29, 2011 V901327 removed after 6 days
January 20, 2012 V926673 $2,290,000 $-570,000 -20%
April 16, 2012 V926673 removed after 87 days
June 06, 2012 V954577 $1,999,888 $-860,112 -30%
June 12, 2012 V954577 removed after 6 days
April 30, 2014 V1060980 $1,999,888 $-860,112 -30%

 

v1060980_1

Current Days on Market: 6 (0.02years)
Current ‘Official’ Days on Market: 6
2013 Assessment: $1,822,200
2011 Assessment: $1,802,100
Desperation Score: 4.5

Split 3 level home on 54.80 x 125 = 6,850sf lot in PRIME Oakridge area. 3 beds & 2 full baths upstairs. 3 fireplaces. Sauna & spacious recreation room downstairs. Main kitchen with a newer sink and granite countertops. Newer walkway in front. Fully landscaped fenced back garden with lots of fruit trees and vegetables. Semi-basement with separate entrance & kitchen perfect for mother-in-law suite. Walk to the Mall, Canada Line transite, Schools (Jamieson, Eric Hamber, King David, Churchill and Langara College), close to UBC and QE park. The list is endless. MUST SEE!! Meas approx/Buyer to verify if important. 1st showing on Sunday May 4th at 2-4pm.


#1 ) Address:9111 PINEWELL CR, Saunders, Richmond

May 02, 2008 V705363 $699,000 $0 0%
May 17, 2008 V705363 $669,000 $-30,000 -4%
July 21, 2008 V705363 removed after 80 days
April 26, 2009 V763330 $558,000 $-141,000 -20%
May 07, 2009 V763330 removed after 11 days
August 15, 2009 V781873 $738,000 $0 0%
November 16, 2009 V781873 removed after 93 days
February 24, 2010 V811248 $783,000 $0 0%
March 17, 2010 V811248 removed after 21 days
January 25, 2012 V927519 $2,388,000 $0 0%
October 26, 2012 V927519 $2,198,000 $-190,000 -8%
January 01, 2013 V927519 removed after 342 days
January 23, 2013 V986450 $1,798,000 $-590,000 -25%
February 28, 2013 V986450 $1,838,000 $-550,000 -23%
December 17, 2013 V986450 removed after 328 days
January 23, 2014 V1043004 $1,799,000 $-589,000 -25%
March 18, 2014 V1043004 $1,699,000 $-689,000 -29%
May 04, 2014 V1043004 $1,598,000 $-790,000 -33%

 

v1043004_1

Current Days on Market: 832 (2.28years)
Current ‘Official’ Days on Market: 103
2013 Assessment: $1,538,000
2011 Assessment: $1,428,000
Desperation Score: 25.6

Immaculate & elegant in Saunders area . 8251 s.ft lot . West faceing back yard . 5 Bed room , main floor with high ceilings, baseboards granite and tile work. Huge living room, dining room, kitchen, wok kitchen, rec room , complete home th eatre, 1 bedroom with ensuite and a prayer room with central air conditioning, HRV, built in vacuum, alarm, security camera, 3 car garage . Balance of 2-5-10 New Home Warranty. Walking distance to popular French Immersion Whiteside Elementary and Mcroberts secondary. Open House on APRIL 13 (SUN ) , 2:00-4:00pm .

“West faceing”, “5 Bed room”, “th eatre”, “a prayer room with central air conditioning”, “Open House on APRIL 13 (SUN )” – It’s May now…  Yet another horrible listing by “Wonderful life starts in the Morning” Morning Yu – yes that is her slogan..


 

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14 responses to “Weekly Drop Metro Vancouver Detached – May 5, 2014

  1. Real Estate Tsunami May 6, 2014 at 7:24 am

    # 1
    Prayer room!
    I think all these monster houses could be converted into churches.

  2. tidus May 6, 2014 at 9:53 am

    Anyone know what’s wrong with #3? This seems to be relatively cheap for a Shaughnessy home not on a big street (the lot is not as deep I see but still it looks like a decent price).

  3. youtoldus.so May 6, 2014 at 10:28 am

    #10-Dunbar. “A flip too far”. Looks like previous seller took all the profit on this one.
    #4- Corner of 33rd. and Granville. No need for cable TV here. All the action is just outside your windows. 24hrs of traffic, collisions and emergency vehicles. Reality TV.
    #2-Oakridge. Same asking price as in 2012- $1,999,888. But now you can look forward to a view from the front window of 14 new towers up to 44 stories high. Bonus.

    Thanks observer for these.

    • Reality Talk May 8, 2014 at 2:09 pm

      So number #4 would be great for a John Grisham novelist if you’ve read “the litigators “

  4. Steven May 6, 2014 at 11:01 am

    So many lol’s…

  5. Joe May 7, 2014 at 7:28 am

    Scamcouver R/E crazy as ever. Semi-literate agents selling multimillion dollar properties; priceless.

    • Seeking Knowledge... May 7, 2014 at 12:32 pm

      That’s why there’s only 2 degrees of separation between you and an RE agent. You don’t need much education to make 5 figure commissions. It still baffles me why it cost so much to sell a house.

      • Natalie May 8, 2014 at 3:44 pm

        How much, realisticly, do you think a realtor should be paid to sell a house? As to the education comment…in 17 yrs of real estate, no client has ever asked me how much education I have. Why not? What is it that the average consumer bases good realtor/bad realtor on? Self serving questions, I know 🙂 I often think about starting my own brokerage…I am not a believer of the big brands.

      • Natalie May 8, 2014 at 3:48 pm

        *realistically….please excuse my illiteracy.

      • an observer May 8, 2014 at 4:03 pm

        🙂

        I think one percent realty is a fairly reasonable level but of course most realtors don’t like dealing with them due to the lower commissions:

        “One Percent Realty charges a flat fee of $6,900 on properties under $600,000, and 1% plus $900 for properties over $600,000.”

        Paying $30K commission on the average $1 million home seems criminal. $11K for that home is reasonable to me. I know there are other fixed costs and often realtors don’t get paid at all since they only make money when a home sells but realtors seemed to be able to make a living 15 years ago when the average commission was half what it is now

      • Seeking Knowledge... May 9, 2014 at 12:05 am

        Point well taken, Natalie. Did not mean to lump all RE agents into one group. I’m sure there are those who are knowledgeable and work hard to make a sale. But getting a commission for selling a Vancouver house equal to or more than an average person’s 6 month’s salary seems excessive.

  6. Real Estate Tsunami May 7, 2014 at 1:28 pm

    11586 Railway in Richmond has sold again.
    Looks like a flipper.
    Does anyone have the history.
    Thx

  7. Reality Talk May 8, 2014 at 2:03 pm

    Love your comments, you are on great form here. Especially number 4

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