Largest Price Declines for Homes For Sale in Vancouver


Blog by Arnold Shuchat | September 29th, 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 23-September 29.  Please note that the reporting periods may differ from time to time. 

During this period, there were 112 (139) (151) (213) (197) (106) (135) (135) price changes of which 107 (132) (140) (200) (187) (103) (131)(124) (129) were price declines.  The average price decline from among the price declines was $54,768 ($47,223) ($56,793) or 4%.

Apartments accounted for 58 (72) (66) (107) (89) (59) (75) (68) (73)  of the properties or 54.2% (54.5%) (39.7%) (50.2%) (47.5%) (57%) (55%)(60.8%) the average price decline for which was $27,804 ($24,282) ($19,735) ($21,992) ($25,785) ($25,401) ($13,780) ($17,053) ($23,535) or  4% (3%) (2.99%)(4.08%) (3%). 

There were 2 (3) (10) duplex price declines this period averaging $15,000 ($26,667) ($25,010) ($42,625) ($26,667) ($19,763) or 2% (2%) (3%) (4%) (2.71%) (2%). 

Houses accounted for 34 (48) (50) (69) (66) (23) (40) (43) (31)(30) or 30.3% (36.3% )(33%) (32.3%) (35.3%) (22%) (30.5%) (35%) (24%)  of the declines, averaging a price decline of $112,700 ($87,21) ($120,126) ($119,469) ($78,650) ($83,621) ($80,020) ($85,958) ($78,773)  or 5% (4%) (5%) (4%) (3.88%) (4.19%) (3%) (4%).  

Townhouses accounted for 13 (8) (14) (15) (23) (12) (12) (18)  or 11.6% (6%) (9,3%) (7%) (12.2%) (12%) (6%) (10%)(13.9%) of the price declines averaging a price decline of $29,671 ($21,875) ($28,007) ($27,433) ($24,117) ($23,082) ($19,638) ($25,008) ($24,533) or 4% (3%) (4%) (3%)(3%) (3%).  

Well this last period saw 353 (411) (459) (682) (574) (302) (298) (280) (312) (384) new listings and 228 (201) (189) (324) (392) (150) (207) (201) (215) (201) sales for a total absorption rate of 64.5% (48.9%) (41.2%) (47.5%) (68.8%) (50%) (69.4%) (72%) (68.9%) (52%) (42.2%). 

Apartments registered 114 (107) (87) (193) (204) (84) (115) (118) (114) (114) sales against new listings of 198 (222) (261) (356) (319) (183) (148) (152)(154) (191) for an Absorption ratio of:57.5%  (48.1%) (33.3%) (54.2%) (63.9%) (48%) (77.7%) (78%) (75%) (59%) (47.5%)

Townhouses registered 20 (14) (18) (28) (27) (12) (24) (14) (22) (18) sales against new listings of 29 (33) (34) (78) (34) (20) (21) (34) (20) (35) for an Absorption ratio of:  68.9% (42.4%) (52.9%)(35.8%) (79.4%) (60%) (114%)(41%) (110%) (51%)(37.1%)

Houses registered 83 (73) (78) (87) (146) (44) (48) (63)(75) (63) sales against new listings of 117 (136) (143) (227) (203) (85) (116) (83) (122) (142) for an Absorption ratio of: 70.9% (53.6%) (54.5%) (38.3%) (71.9%) (52%) (41.3%)(76%) (61.4%) (44%)(36%).

Duplexes registered 8 (7) (6) (13) (14) (6) (8) (10) (4)(5) sales out of 6 (18) (16) (20) (14) (12) (9) (11) (13) (16) new listings for an absorption ratio of 133% (38.8%) (37.5%) (65%) (100%) (50%)(112.5%) (91%) (30.7%) (31%)

Below is a table of the top price reductions for the week greater than or equal to 5%. This week this group represents the top 27% of all price reductions.
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
887 W 20TH AV 1,999,888 2,388,000 388,112 16 4 HOUSE 1992
# 1103 1139 W CORDOVA ST 2,980,000 3,380,000 400,000 12 2 APTU 2008
# 2605 1189 HOWE ST 395,000 438,000 43,000 10 1 APTU 1999
# 103 1266 W 13TH AV 277,000 307,000 30,000 10 1 APTU 1975
# 102 874 W 6TH AV 249,900 274,800 24,900 9 1 APTU 1993
# 606 1100 HARWOOD ST 208,800 228,800 20,000 9 1 APTU 1966
1553 W 61ST AV 2,998,000 3,268,000 270,000 8 7 HOUSE 2012
1263 W 41ST AV 1,830,000 1,990,000 160,000 8 6 HOUSE 1945
# 4107 128 W CORDOVA ST 480,000 520,000 40,000 8 1 APTU 2008
775 W 60TH AV 2,388,000 2,580,000 192,000 7 5 HOUSE 2006
1930 W 42ND AV 2,680,000 2,880,000 200,000 7 4 HOUSE 2013
2438 W 45TH AV 2,680,000 2,880,000 200,000 7 4 HOUSE 2013
# 205 2159 WALL ST 268,800 288,800 20,000 7 2 APTU 1985
972 W 57TH AV 2,788,000 2,988,000 200,000 7 7 HOUSE 2011
# 443 445 E 49TH AV 1,958,000 2,098,000 140,000 7 11 HOUSE 2011
# 3805 1011 W CORDOVA ST 2,988,000 3,190,000 202,000 6 2 APTU 2010
# 119 1777 W 7TH AV 499,000 529,900 30,900 6 1 APTU 2013
# 2 1263 W 8TH AV 499,000 529,000 30,000 6 2 APTU 1982
# 504 4685 VALLEY DR 1,198,000 1,268,000 70,000 6 2 APTU 2004
4720 MANOR ST 889,000 938,000 49,000 5 6 HOUSE 1973
1185 W 49TH AV 1,690,000 1,780,900 90,900 5 3 HOUSE 1947
# 201 2755 MAPLE ST 378,000 398,000 20,000 5 1 APTU 1996
# 405 2211 WALL ST 379,000 399,000 20,000 5 1 APTU 1995
# 602 1888 ALBERNI ST 1,539,000 1,620,000 81,000 5 2 APTU 1991
# 211 2020 W 8TH AV 274,900 289,000 14,100 5 1 APTU 1988
3084 CLARK DR 1,299,000 1,365,000 66,000 5 4 HOUSE 1930
# 202 2240 WALL ST 380,000 399,000 19,000 5 2 APTU 1975
4143 W 10TH AV 1,428,000 1,498,000 70,000 5 4 HOUSE 1927
# 2103 4625 VALLEY DR 438,000 459,000 21,000 5 1 APTU 2002
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.