Largest Price Declines for Homes For Sale in Vancouver


Blog by Arnold Shuchat | September 22nd, 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 7days 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 September 16-September 22nd.  Please note that the reporting periods may differ from time to time. 

During this period, there were 139(151) (213) (197) (106) (135) (135) price changes of which 132 (140) (200) (187) (103) (131)(124) (129) were price declines.  The average price decline from among the price declines was $47,223 ($56,793).

72 (66) (107) (89) (59) (75) (68) (73)  of the properties or 54.5% (39.7%) (50.2%) (47.5%) (57%) (55%)(60.8%) were apartments, the average price decline for which was $24,282 ($19,735) ($21,992) ($25,785) ($25,401) ($13,780) ($17,053) ($23,535) or  3% (2.99%)(4.08%) (3%). 

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

48 (50) (69) (66) (23) (40) (43) (31)(30) or 36.3% (33%) (32.3%) (35.3%) (22%) (30.5%) (35%) (24%)  of the declines were attributable to houses averaging a price decline of $87,21 ($120,126) ($119,469) ($78,650) ($83,621) ($80,020) ($85,958) ($78,773)  or 4% (5%) (4%) (3.88%) (4.19%) (3%) (4%).  

8 (14) (15) (23) (12) (12) (18)  or 6% (9,3%) (7%) (12.2%) (12%) (6%) (10%)(13.9%) of the price declines were attributable to townhouses averaging a price decline of $21,875 ($28,007) ($27,433) ($24,117) ($23,082) ($19,638) ($25,008) ($24,533) or 3% (4%) (3%)(3%) (3%).  

Well this last period saw 411 (459) (682) (574) (302) (298) (280) (312) (384) new listings and 201 (189) (324) (392) (150) (207) (201) (215) (201) sales for a total absorption rate of 48.9% (41.2%) (47.5%) (68.8%) (50%) (69.4%) (72%) (68.9%) (52%) (42.2%).  This is on the lower end of the absorption rates for a similar period in the last few months, but is a healthy rate nonetheless.

Apartments registered 107 (87) (193) (204) (84) (115) (118) (114) (114) sales against new listings of 222 (261) (356) (319) (183) (148) (152)(154) (191) for an Absorption ratio of: 48.1% (33.3%) (54.2%) (63.9%) (48%) (77.7%) (78%) (75%) (59%) (47.5%)

Townhouses registered 14 (18) (28) (27) (12) (24) (14) (22) (18) sales against new listings of 33 (34) (78) (34) (20) (21) (34) (20) (35) for an Absorption ratio of:  42.4% (52.9%)(35.8%) (79.4%) (60%) (114%)(41%) (110%) (51%)(37.1%)

Houses registered 73 (78) (87) (146) (44) (48) (63)(75) (63) sales against new listings of 136 (143) (227) (203) (85) (116) (83) (122) (142) for an Absorption ratio of: 53.6% (54.5%) (38.3%) (71.9%) (52%) (41.3%)(76%) (61.4%) (44%)(36%).

Duplexes registered 7 (6) (13) (14) (6) (8) (10) (4)(5) sales out of 18 (16) (20) (14) (12) (9) (11) (13) (16) new listings for an absorption ratio of 38.8% (37.5%) (65%) (100%) (50%)(112.5%) (91%) (30.7%) (31%)

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
3228 LARCH ST 2,399,000 2,680,000 281,000 10 5 HOUSE 1996
# 4107 128 W CORDOVA ST 520,000 580,000 60,000 10 1 APTU 2008
# 201 2965 HORLEY ST 348,800 388,888 40,088 10 2 APTU 1994
3818 CYPRESS ST 6,390,000 6,980,000 590,000 8 4 HOUSE 2003
# 1102 5615 HAMPTON PL 1,099,000 1,199,000 100,000 8 2 APTU 1998
# 1001 1863 ALBERNI ST 1,150,000 1,250,000 100,000 8 2 APTU 2002
6790 KERR ST 1,750,000 1,888,000 138,000 7 8 HOUSE 2006
4921 MANOR ST 669,000 719,000 50,000 7 5 HOUSE 1966
2080 W 35TH AV 2,498,000 2,680,000 182,000 7 5 HOUSE 1931
# 101 1516 E 1ST AV 429,000 459,000 30,000 7 3 APTU 1989
7706 FRENCH ST 2,698,000 2,880,000 182,000 6 7 HOUSE 2013
# 201 1225 BARCLAY ST 449,000 479,000 30,000 6 2 APTU 1990
# 21 120 POWELL ST 1,499,000 1,599,000 100,000 6 3 APTU 1993
# 253 35 KEEFER PL 468,800 498,800 30,000 6 1 TWNHS 2005
# 308 3089 OAK ST 299,900 319,000 19,100 6 1 APTU 2004
7784 MUIRFIELD DR 1,259,000 1,338,900 79,900 6 4 HOUSE 1916
6488 MARGUERITE ST 2,999,000 3,188,000 189,000 6 7 HOUSE 1970
1488 CONNAUGHT DR 4,128,000 4,388,000 260,000 6 5 HOUSE 1999
2307 W 45TH AV 3,750,000 3,980,000 230,000 6 6 HOUSE 2013
1092 W 58TH AV 2,150,000 2,280,000 130,000 6 4 HOUSE 1947
# 1903 1483 HOMER ST 1,688,000 1,788,000 100,000 6 2 APTU 2003
123 W 47TH AV 1,870,000 1,980,000 110,000 6 5 HOUSE 2004
3219 W KING EDWARD AV 3,438,000 3,638,000 200,000 5 6 HOUSE 2013
# 903 456 MOBERLY RD 499,900 528,900 29,000 5 1 APTU 1991
38 E 19TH AV 1,399,000 1,478,000 79,000 5 6 HOUSE 1987
# 1501 1111 MARINASIDE CR 2,273,000 2,398,000 125,000 5 3 APTU 1999
1825 W 13TH AV 569,000 599,000 30,000 5 2 TWNHS 1986
1222 E 61ST AV 949,000 998,000 49,000 5 6 HOUSE 2003
# 3B 3540 CAMBIE ST 475,000 499,000 24,000 5 2 APTU 1949
6770 ARLINGTON ST 399,000 418,000 19,000 5 4 TWNHS 1972

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.