Largest Price Declines for Homes For Sale in Vancouver


Blog by Arnold Shuchat | September 16th, 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. This is
This is a report of the largest price delcines in the Vancouver East and Vancouver West housing markets over the last 9 days as well as a conscise Real Estate Market Report.

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 151 (213) (197) (106) (135) (135) price changes of which 140 (200) (187) (103) (131)(124) (129) were price declines.  The average price decline from among the price declines was $56,793 ($57,099) ($44,281)($42,085) ($34,729)($41,918) ($37.380) or  4% (3%) (4%) (3%).  The ratio of price increases to price declines inched to within the highest in the last few months which would seem to indicate a bullish sentiment on the part of property listers.

66 (107) (89) (59) (75) (68) (73)  of the properties or 39.7% (50.2%) (47.5%) (57%) (55%) (60.8%) were apartments, the average price decline for which was $19,735 ($21,992) ($25,785) ($25,401) ($13,780) ($17,053) ($23,535) or  3% (2.99%)(4.08%) (3%). 

There were 10 duplex price declines this period averaging $25,010 ($42,625) ($26,667) ($19,763) or 3% (4%) (2.71%) (2%). 

50 (69) (66) (23) (40) (43) (31)(30) or 33% (32.3%) (35.3%) (22%) (30.5%) (35%) (24%)  of the declines were attributable to houses averaging a price decline of $120,126 ($119,469) ($78,650) ($83,621) ($80,020) ($85,958) ($78,773)  or 5% (4%) (3.88%) (4.19%) (3%) (4%).  

14 (15) (23) (12) (12) (18)  or 9,3% (7%) (12.2%) (12%) (6%) (10%)(13.9%) of the price declines were attributable to townhouses averaging a price decline of $28,007 ($27,433) ($24,117) ($23,082) ($19,638) ($25,008) ($24,533) or 4% (3%)(3%) (3%).  

Well this last period saw 459 (682) (574) (302) (298) (280) (312) (384) new listings and 189 (324) (392) (150) (207) (201) (215) (201) sales for a total absorption rate of 41.2% (47.5%) (68.8%) (50%) (69.4%) (72%) (68.9%) (52%) (42.2%).  This is the lowest rate of absorption for a similar period in the last few months.  Could it be the "Back to School... too busy" phenomenon?


Apartments registered  87 (193) (204) (84) (115) (118) (114) (114) sales against new listings of 261 (356) (319) (183) (148) (152)(154) (191) for an Absorption ratio of: 33.3% (54.2%) (63.9%) (48%) (77.7%) (78%) (75%) (59%) (47.5%)

Townhouses registered 18 (28) (27) (12) (24) (14) (22) (18) sales against new listings of 34 (78) (34) (20) (21) (34) (20) (35) for an Absorption ratio of: 52.9%(35.8%) (79.4%) (60%) (114%)(41%) (110%) (51%)(37.1%)

Houses registered 78 (87) (146) (44) (48) (63)(75) (63) sales against new listings of 143 (227) (203) (85) (116) (83) (122) (142) for an Absorption ratio of:54.5% (38.3%) (71.9%) (52%) (41.3%)(76%) (61.4%) (44%)(36%).

Duplexes registered  6 (13) (14) (6) (8) (10) (4)(5) sales out of 16 (20) (14) (12) (9) (11) (13) (16) new listings for an absorption ratio of 37.5% (65%) (100%) (50%)(112.5%) (91%) (30.7%) (31%)

Houses and townhouses lead the way in the absorption ratio stats with a large drop in apartment sales relative to new listings.  

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 Yr Built
4642 MCHARDY ST 999,000 1,298,000 299,000 23 6 HOUSE 9999
6485 CEDARHURST ST 1,995,000 2,298,000 303,000 13 4 HOUSE 9999
1937 KITCHENER ST 1,400,000 1,600,000 200,000 13 0 HOUSE 1912
# 101 2935 SPRUCE ST 299,000 339,000 40,000 12 1 APTU 1976
3750 CARTIER ST 11,800,000 13,280,000 1,480,000 11 6 HOUSE 1912
188 - 186 W 48TH AV 1,999,000 2,233,000 234,000 10 5 HOUSE 2013
7638 HUDSON ST 2,298,000 2,560,000 262,000 10 6 HOUSE 2013
# 402 6080 IONA DR 1,488,000 1,649,000 161,000 10 3 APTU 2008
# 217 330 E 7TH AV 299,000 329,000 30,000 9 1 APTU 1977
2170 TRUTCH ST 999,000 1,099,000 100,000 9 4 HOUSE 1925
# 908 328 E 11TH AV 439,900 478,000 38,100 8 1 APTU 2006
2426 W 15TH AV 3,580,000 3,880,000 300,000 8 6 HOUSE 2012
2903 W 29TH AV 2,580,000 2,788,000 208,000 7 4 HOUSE 2011
# 31 870 W 7TH AV 249,900 269,900 20,000 7 1 TWNHS 1978
6628 ARBUTUS ST 1,008,000 1,088,000 80,000 7 3 TWNHS 2007
# 404 2105 W 42ND AV 399,000 429,900 30,900 7 1 APTU 1994
6565 SALISH DR 738,000 795,000 57,000 7 3 HOUSE 1982
3228 E 54TH AV 499,900 538,000 38,100 7 2 TWNHS 2004
# 202 4479 W 10TH AV 398,000 428,000 30,000 7 1 APTU 2007
# 214 1066 E 8TH AV 324,900 348,900 24,000 7 1 APTU 1976
# 1010 833 SEYMOUR ST 375,000 398,800 23,800 6 1 APTU 2011
2488 HARRISON DR 1,588,000 1,688,000 100,000 6 7 HOUSE 1988
6489 BRUCE ST 1,598,000 1,698,000 100,000 6 8 HOUSE 2013
575 E 45TH AV 1,599,000 1,699,000 100,000 6 8 HOUSE 2012
# 1305 1455 HOWE ST 1,149,000 1,219,900 70,900 6 2 APTU 2007
536 E 47TH AV 1,498,000 1,590,000 92,000 6 6 HOUSE 2012
1121 KEEFER ST 799,000 848,000 49,000 6 5 HOUSE 9999
1463 E KING EDWARD AV 499,000 528,000 29,000 5 3 TWNHS 2008
3531 ETON ST 1,039,900 1,098,000 58,100 5 3 HOUSE 2010
1345 E 18TH AV 748,000 789,000 41,000 5 3 DUPXH 2013
# 510 2528 MAPLE ST 659,000 695,000 36,000 5 2 APTU 2010
# 103 29 NANAIMO ST 184,900 195,000 10,100 5 1 APTU 1983
6726 MARGUERITE ST 5,680,000 5,990,000 310,000 5 6 HOUSE 1994
1727 ALBERNI ST 899,900 949,000 49,100 5 3 TWNHS 1999
7136 FRASER ST 729,000 768,000 39,000 5 6 DUPXH 1996
555 W 64TH AV 1,980,000 2,080,000 100,000 5 5 HOUSE 1995
# 703 2411 HEATHER ST 798,000 838,000 40,000 5 2 APTU 2012
1517 E 8TH AV 1,030,000 1,080,000 50,000 5 4 HOUSE 1958
 

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.