Largest Price Declines for Homes For Sale in Vancouver


Blog by Arnold Shuchat | September 8th, 2013


The information contained herein has been derived from reported listings in the Vancouver West and East selling areas.
The bracketed numbers represent previous weeks' stats from this same report.
Below is this week's chart of the largest price declines (those over 5%) for Vancouver homes for sale from August 6-August 12 (Morning). In the last business week ending Sunday evening, there were 106 (135) (135) price changes of which 103 (131)(124) (129) were price declines.  The average price decline from among the 103 declines was $42,085 ($34,729)($41,918) ($37.380) or 4% (3%). 
59 (75) (68) (73)  of the 103 properties or 57% (55%) (60.8%) were apartments, the average price decline for which was $25,401 ($13,780) ($17,053) ($23,535) or 4.08% (3%). 
There were 8 duplex price declines this week averaging ($19,763) or (2%). 
23 (40) (43) (31)(30) or 22% (30.5%) (35%) (24%)  of the declines were attributable to houses averaging a price decline of $83,621 ($80,020) ($85,958) ($78,773)  or 4.19% (3%) (4%). 
12 (12) (18)  or 12% (6%) (10%)(13.9%) of the price declines were attributable to townhouses averaging a price decline of $23,082 ($19,638) ($25,008) ($24,533) or (3%) (3%).  
Well this last week saw 302 (298) (280) (312) (384) new listings and 150 (207) (201) (215) (201) sales for a total absorption rate of 50% (69.4%) (72%) (68.9%) (52%) (42.2%).
Apartments registered  84 (115) (118) (114) (114) sales against new listings of 183 (148) (152)(154) (191) for an Absorption ratio of:48% (77.7%) (78%) (75%) (59%) (47.5%)
Townhouses registered  12 (24) (14) (22) (18) sales against new listings of 20 (21) (34) (20) (35) for an Absorption ratio of: 60% (114%)(41%) (110%) (51%)(37.1%)
Houses registered 44 (48) (63)(75) (63) sales against new listings of 85 (116) (83) (122) (142) for an Absorption ratio of: 52% (41.3%)(76%) (61.4%) (44%)(36%).
Duplexes registered  6 (8) (10) (4)(5) sales out of 12 (9) (11) (13) (16) new listings for an absorption ratio of 50% (112.5%) (91%) (30.7%) (31%)
Looks like a good balance all around.
Address LP Prev LP Change % Change Tot BR Dwell Year Blt
# 4107 128 W CORDOVA ST 480,000 580,000 100,000 17.24 1 APTU 2008
# 521 666 LEG IN BOOT SQ 475,000 560,000 85,000 15.18 2 APTU 1978
# 210 5735 HAMPTON PL 590,000 675,000 85,000 12.59 2 APTU 1995
1998 QUILCHENA CR 2,198,000 2,490,000 292,000 11.73 6 HOUSE 1929
# 115 36 E 14TH AV 159,000 179,000 20,000 11.17 1 APTU 1971
# 321 666 LEG IN BOOT SQ 549,000 615,000 66,000 10.73 2 APTU 1978
3570 W 30TH AV 2,980,000 3,288,000 308,000 9.37 5 HOUSE 2011
# 612 1485 W 6TH AV 999,900 1,100,000 100,100 9.10 2 APTU 2000
2463 KITCHENER ST 998,000 1,079,000 81,000 7.51 5 HOUSE 1978
# 2906 131 REGIMENT SQ 360,000 389,000 29,000 7.46 1 APTU 2007
# 1102 1720 BARCLAY ST 259,000 279,000 20,000 7.17 1 APTU 1970
# 2401 5380 OBEN ST 288,000 309,800 21,800 7.04 1 APTU 2006
38 E 19TH AV 1,478,000 1,588,000 110,000 6.93 6 HOUSE 1987
# 803 1661 ONTARIO ST 699,000 748,000 49,000 6.55 2 APTU 2010
5688 ALMA ST 4,388,000 4,688,000 300,000 6.40 10 HOUSE 2013
8391 FRENCH ST 749,800 799,000 49,200 6.16 3 DUPXH 1990
# 303 1205 HOWE ST 439,000 466,000 27,000 5.79 1 APTU 2010
# 302 1205 HOWE ST 439,000 466,000 27,000 5.79 1 OTHER 2010
7687 SELKIRK ST 1,699,000 1,799,000 100,000 5.56 5 HOUSE 1949
# 304 1255 SEYMOUR ST 345,000 365,000 20,000 5.48 1 APTU 2008
# 501 2668 ASH ST 534,800 565,000 30,200 5.35 2 APTU 1989
1193 E 11TH AV 888,000 938,000 50,000 5.33 4 HOUSE 1959
2997 W 39TH AV 1,780,000 1,880,000 100,000 5.32 3 HOUSE 1925
8468 FREMLIN ST 699,000 738,000 39,000 5.28 3 DUPXH 1990
3116 W 24TH AV 1,798,000 1,898,000 100,000 5.27 3 HOUSE 1939
2277 W 35TH AV 3,790,000 3,999,999 209,999 5.25 5 HOUSE 1996
# 3601 833 SEYMOUR ST 798,000 842,000 44,000 5.23 2 APTU 2011
# 38 2375 W BROADWAY ST 509,000 536,000 27,000 5.04 2 TWNHS 1999
A word of caution is necessary.  I don't always publish these numbers at the same time such that a tally 7 days back taken in the morning as opposed to late in the day may indicate a reduced count of something that might otherwise be reported later in the day.  In addition, while there is a bias in favour of "getting a listing up and running", the compliance with the reporting of sales may be a little more lax such that a report 3 weeks later would likely show more accurate numbers.  It follows then that "Sales to Active listing" numbers can be reasonably taken to be understated in these type of real time up to the minute reports as the sales are likely lagging as opposed to the listing numbers.
Happy Hunting! 
If you or any of your friends are thinking of buying or selling a property, please
email me at: ashuchat@shuchatgroup.com or call me at: 778-227-7325 to discuss
a detailed purchasing or marketing plan which could help save thousands of dollars. 
The information contained herein has been derived from reported listings in the Vancouver West and East selling areas.

The bracketed numbers represent previous weeks' stats from this same report.

Below is a table of the largest price declines (those over 5%) for Vancouver homes for sale from August 25-September 8th (Morning).  Please note that the reporting periods may differ from time to time. 

During this period, there were 213 (197) (106) (135) (135) price changes of which 200 (187) (103) (131)(124) (129) were price declines.  The average price decline from among the price declines was $57,099 ($44,281)($42,085) ($34,729)($41,918) ($37.380) or  4% (3%) (4%) (3%). 

107 (89) (59) (75) (68) (73)  of the properties or 50.2% (47.5%) (57%) (55%) (60.8%) were apartments, the average price decline for which was $21,992 ($25,785) ($25,401) ($13,780) ($17,053) ($23,535) or  3% (2.99%)(4.08%) (3%). 

There were 8 duplex price declines this period averaging $42,625 ($26,667) ($19,763) or 4% (2.71%) (2%). 

69 (66) (23) (40) (43) (31)(30) or 32.3% (35.3%) (22%) (30.5%) (35%) (24%)  of the declines were attributable to houses averaging a price decline of $119,469 ($78,650) ($83,621) ($80,020) ($85,958) ($78,773)  or 4% (3.88%) (4.19%) (3%) (4%). 

15 (23) (12) (12) (18)  or 7% (12.2%) (12%) (6%) (10%)(13.9%) of the price declines were attributable to townhouses averaging a price decline of $27,433 ($24,117) ($23,082) ($19,638) ($25,008) ($24,533) or 3%(3%) (3%).  

Well this last peeriod saw 682 (574) (302) (298) (280) (312) (384) new listings and 324 (392) (150) (207) (201) (215) (201) sales for a total absorption rate of 47.5% (68.8%) (50%) (69.4%) (72%) (68.9%) (52%) (42.2%).

Apartments registered  193 (204) (84) (115) (118) (114) (114) sales against new listings of 356 (319) (183) (148) (152)(154) (191) for an Absorption ratio of:54.2% (63.9%) (48%) (77.7%) (78%) (75%) (59%) (47.5%)

Townhouses registered  28 (27) (12) (24) (14) (22) (18) sales against new listings of 78 (34) (20) (21) (34) (20) (35) for an Absorption ratio of: 35.8% (79.4%) (60%) (114%)(41%) (110%) (51%)(37.1%)

Houses registered 87 (146) (44) (48) (63)(75) (63) sales against new listings of 227 (203) (85) (116) (83) (122) (142) for an Absorption ratio of:38.3% (71.9%) (52%) (41.3%)(76%) (61.4%) (44%)(36%).

Duplexes registered  13(14) (6) (8) (10) (4)(5) sales out of 20 (14) (12) (9) (11) (13) (16) new listings for an absorption ratio of 65% (100%) (50%)(112.5%) (91%) (30.7%) (31%)

Apartments and Duplexes lead the way in the absorption ratio stats with a large drop in townhouses and house sales relative to new listings.  This could simply be a case of investors making moves while homeowners vacation in the weeks leading to Labour Day.  We'll see next week.

A word of caution is necessary.  I don't always publish these numbers at the same time such that a tallytaken in the morning as opposed to late in the day may indicate a reduced count of something that might otherwise be reported later in the day.  In addition, while there is a bias in favour of "getting a listing up and running", the compliance with the reporting of sales may be a little more lax such that a report 3 weeks later would likely show more accurate numbers.  It follows then that "Sales to Active listing" numbers can be reasonably taken to be understated in these type of real time up to the minute reports as the sales are likely lagging as opposed to the listing numbers.

Happy Hunting!
 
Address LP Prev LP Change %Change Tot BR Dwell Year Built
# 309 774 GREAT NORTHERN WY 189,900 229,900 40,000 17 1 APTU 1975
1767 W 61ST AV 2,596,000 2,988,000 392,000 13 6 HOUSE 1992
5633 NEWTON WD 26,800,000 29,880,000 3,080,000 10 6 HOUSE 2010
# 310 711 E 6TH AV 348,800 388,000 39,200 10 2 APTU 1965
# PH1 418 E BROADWAY BB 359,000 399,000 40,000 10 2 APTU 1998
4850 OSLER ST 3,990,000 4,380,000 390,000 9 5 HOUSE 2011
# 207 6904 FRASER ST 299,900 329,000 29,100 9 2 APTU 1976
# 208 2528 COLLINGWOOD ST 319,900 349,900 30,000 9 1 APTU 2014
2611 - 2615 FRASER ST 800,000 875,000 75,000 9 6 HOUSE 1925
# 2801 1028 BARCLAY ST 1,080,000 1,180,000 100,000 8 2 APTU 2011
# 308 2528 COLLINGWOOD ST 329,900 359,900 30,000 8 1 APTU 2014
163 W 48TH AV 2,290,000 2,490,000 200,000 8 6 HOUSE 1994
74 E 23RD AV 1,150,000 1,250,000 100,000 8 5 HOUSE 9999
# 313 4685 VALLEY DR 1,090,000 1,180,000 90,000 8 2 APTU 2003
6835 VIVIAN ST 2,088,000 2,258,000 170,000 8 8 HOUSE 2008
376 W 10TH AV 629,000 679,000 50,000 7 3 TWNHS 1998
1255 ALBERNI ST 1,275,000 1,375,000 100,000 7 2 TWNHS 1998
3672 TANNER ST 845,000 909,000 64,000 7 4 HOUSE 1991
# 206 3382 WESBROOK MA 928,000 998,000 70,000 7 2 APTU 2010
1235 E 13 AV 1,098,000 1,179,000 81,000 7 5 DUPXH 2013
1233 E 13 AV 1,098,000 1,179,000 81,000 7 5 DUPXH 2013
# 1501 1159 MAIN ST 978,000 1,050,000 72,000 7 3 APTU 1992
# 1 5505 OAK ST 399,900 429,000 29,100 7 2 APTU 1969
1437 E 64TH AV 1,049,000 1,125,000 76,000 7 5 HOUSE 1959
# 1804 1251 CARDERO ST 289,000 309,900 20,900 7 1 APTU 1968
# 410 1630 W 1ST AV 279,000 299,000 20,000 7 0 APTU 1996
3894 W 3RD AV 1,980,000 2,120,000 140,000 7 4 HOUSE 1945
3629 YALE ST 1,868,000 1,999,999 131,999 7 5 HOUSE 2013
# 306 5779 BIRNEY AV 839,000 898,000 59,000 7 2 APTU 2008
# 206 2988 ALDER ST 449,000 479,000 30,000 6 1 APTU 1994
# 1103 1099 MARINASIDE CR 749,000 799,000 50,000 6 2 APTU 2000
8141 LAUREL ST 1,520,000 1,620,000 100,000 6 7 HOUSE 1951
# 2203 1616 BAYSHORE DR 1,688,000 1,799,000 111,000 6 2 APTU 2006
3427 E 4TH AV 1,068,000 1,138,000 70,000 6 4 HOUSE 1955
104 E 42ND AV 938,000 998,800 60,800 6 4 HOUSE 9999
2996 W 10TH AV 2,988,000 3,180,000 192,000 6 6 HOUSE 2012
8550 HUDSON ST 1,098,000 1,168,000 70,000 6 4 DUPXH 2003
# 605 1328 MARINASIDE CR 1,880,000 1,998,000 118,000 6 2 APTU 2003
# 202 2628 YEW ST 648,000 688,000 40,000 6 2 APTU 2000
# 237 1777 W 7TH AV 459,900 488,000 28,100 6 1 APTU 2013
# 2201 1616 BAYSHORE DR 1,978,000 2,098,000 120,000 6 2 APTU 2006
328 E 46TH AV 1,499,000 1,588,000 89,000 6 4 HOUSE 2010
2128 E 20TH AV 849,000 899,000 50,000 6 6 HOUSE 1912
# 203 1066 W 13TH AV 519,000 549,000 30,000 5 2 APTU 1975
# 705 131 REGIMENT SQ 425,000 449,500 24,500 5 2 APTU 2007
6049 KNIGHT ST 850,000 898,000 48,000 5 8 HOUSE 1967
1716 E 41ST AV 614,999 649,000 34,001 5 3 HOUSE 1951
4719 REID ST 739,000 779,000 40,000 5 3 HOUSE 9999
4449 MARGUERITE ST 7,490,000 7,888,000 398,000 5 6 HOUSE 2013
6790 KERR ST 1,888,000 1,988,000 100,000 5 8 HOUSE 2006
6069 GRANVILLE ST 3,780,000 3,980,000 200,000 5 11 HOUSE 1994
3228 E 48TH AV 988,000 1,038,000 50,000 5 3 HOUSE 1992
2819 W 43RD AV 1,999,000 2,100,000 101,000 5 4 HOUSE 1976
6773 TYNE ST 858,000 900,000 42,000 5 4 HOUSE 1952
2295 E 1ST AV 799,000 838,000 39,000 5 3 HOUSE 1948
1975 UPLAND DR 1,238,000 1,298,000 60,000 5 5 HOUSE 1989
3523 W 18TH AV 2,850,000 2,988,000 138,000 5 6 HOUSE 1996
3460 E 2ND AV 1,049,000 1,099,000 50,000 5 5 HOUSE 1972
5337 LARCH ST 3,999,000 4,188,000 189,000 5 6 HOUSE 2012
If you or any of your friends are thinking of buying or selling a property, please
email me at: ashuchat@shuchatgroup.com or call me at: 778-227-7325 to discuss
a detailed purchasing or marketing plan which could help save thousands of dollars.