Largest Price Declines for Homes For Sale in Vancouver


Blog by Arnold Shuchat | June 9th, 2013


Below is this week's chart of the largest price declines  (those over 5%) for Vancouver homes for sale. In the last week, there were 201 price changes of which 188 (94%) were price declines.

The average price decline from among the 188 declines was $51,429 or 4%, little change from last week.
109 of the 188 properties (58%) were apartments the average price decline for which was $17,373, still 3%, down from the $20k average of last week. This is the third week in a row indicating a deceleration of price declines for Vancouver apartments.

8 out of the 188 or 4% (up from 1% last week) of the declines were duplexes averaging a decline of $68,305 or 4% up from around $32,500 or 3% last week.

48 or 26% of the declines were attributable to houses averaging a price decline of $71,273 r 4% when a large $2 Mill price reduction on one house was removed from the mix as an outlier.

19 or 10% of the price declines were attributable to townhouses averaging a price decline of $21,190 or 3% down from last week's price decline average of around $17k. (Undescribed properties account for some of the rounding error)

43 properties experienced price reductions in excess of 5%. But where I look at the total price reductions on properties since the time of listing, I will use only those reductions in excess of 6% to make the task manageable as it is quite time consuming.  The jist of the chart below is that when one looks at the total price reduction since listing, the average price reduction works out to be 33% higher than just this week's price reduction, on the properties which produced reductions equal to or greater than 6% just this week.

1st Listed Total Price
Address LP Prev LP Change % Change Price % Change Tot BR Dwell
3838 W 50TH AV 4,250,000 5,000,000 750,000 15 6,000,000 29 other
3862 W 50TH AV 4,250,000 5,000,000 750,000 15 6,000,000 29 other
# 205 5868 AGRONOMY RD 699,000 799,000 100,000 13 799,000 13 1 APTU
6191 BOUNDARY RD 888,000 998,000 110,000 11 998,000 11 5 HOUSE
# 3503 667 HOWE ST 888,000 988,000 100,000 10 988,000 10 1 APTU
4033 W 40TH AV 1,978,000 2,198,000 220,000 10 2,198,000 10 4 HOUSE
2575 W 34TH AV 2,699,000 2,998,000 299,000 10 2,998,000 10 11 HOUSE
45 E CORDOVA ST 1,250,000 1,377,000 127,000 9 1,488,000 16 3 APTU
# 112 555 W 14TH AV 389,000 428,000 39,000 9 428,000 9 1 APTU
303 E 39TH AV 798,000 878,000 80,000 9 878,000 9 2 HOUSE
# 1107 8555 GRANVILLE ST 562,000 618,000 56,000 9 618,000 9 1 APTU
529 W 65TH AV 1,148,000 1,250,000 102,000 8 1,250,000 8 4 HOUSE
# 404 1975 PENDRELL ST 182,000 198,000 16,000 8 214,000 15 0 APTU
5365 OSLER ST 4,100,000 4,438,000 338,000 8 4,980,000 18 4 HOUSE
# 404 1075 COMOX ST 184,900 199,900 15,000 8 199,900 8 1 APTU
# 2007 8555 GRANVILLE ST 618,000 668,000 50,000 7 668,000 7 1 APTU
5592 TRAFALGAR ST 2,680,000 2,880,000 200,000 7 2,880,000 7 4 HOUSE
133 W 46TH AV 2,498,000 2,680,000 182,000 7 2,860,000 13 6 HOUSE
3057 W 13TH AV 2,138,000 2,288,000 150,000 7 2,368,000 10 4 HOUSE
# 603 1200 ALBERNI ST 497,000 530,000 33,000 6 523,000 5 2 APTU
# 806 928 RICHARDS ST 485,000 515,000 30,000 6 515,000 6 2 APTU
1832 W 11TH AV 824,000 874,000 50,000 6 998,000 17 3 TWNHS
2547 MACKENZIE ST 1,680,000 1,780,000 100,000 6 1,780,000 6 3 HOUSE
Average: 9 12
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.