Largest Price Declines for Homes For Sale in Vancouver


Blog by Arnold Shuchat | July 2nd, 2013


The information contained herein has been derived from reported listings in the Vancouver West and East selling areas.

The bracketed numbers represent last week's stats from this same report.

Below is this week's chart of the largest price declines (those over 5%) for Vancouver homes for sale. In the last 10 days ending Monday evening, there were 122 (177) price changes of which 118(168) were price declines. The average price decline from among the 118 (168) declines was $43,946 or 3% (3%).

70(94) of the 118 properties or 59% (56%)were apartments the average price decline for which was $19,366 ($17,704) or 3%(3%). 

2 (5) out of the 118(144) or 1.6% (3%) of the declines were duplexes averaging a decline of $11,500($54,000) or 2 %(3%).

37 (48) (34) or 31.3% (28.6%) of the declines were attributable to houses averaging a price decline of $95,030 ($118,819) or 4% (4%).

8 (20) or 6.7% (11.9%) of the price declines were attributable to townhouses averaging a price decline of $30,875 ($23,575) or 3% (3%). This is the third straight week where the average price declines of twonhouses has risen. 

Well this 10 day period saw 340 (437) new listings and 189 (307) sales for a total absorption rate of 55.5% (70%) on all property. Check the next blogpost for the weekly quick stats on Vancouver's activity.  The drop in numbers from the period last week is likely due more to school being out than any significant macro economic factor.

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!

Address LP Prev LP Change % Change Tot BR Dwell Yr Blt
# 302 1869 SPYGLASS PL 735,000 818,000 83,000 10 2 APTU 1990
8168 SELKIRK ST 1,680,000 1,860,000 180,000 10 5 HOUSE 1993
2117 W 47TH AV 2,250,000 2,488,000 238,000 10 4 HOUSE 2013
3811 QUESNEL DR 2,188,000 2,388,000 200,000 8 0 HOUSE 1928
# 1404 5775 HAMPTON PL 1,100,000 1,200,000 100,000 8 2 APTU 1995
# 708 518 MOBERLY RD 1,599,000 1,725,000 126,000 7 3 APTU 1989
2645 WATERLOO ST 2,680,000 2,880,000 200,000 7 4 HOUSE 2012
# 3206 610 GRANVILLE ST 999,000 1,070,000 71,000 7 1 APTU 2006
4965 COLLEGE HIGHROAD BB 2,798,000 2,993,000 195,000 7 5 HOUSE 1986
2370 PINE ST 1,028,000 1,098,000 70,000 6 2 TWNHS 2008
1838 W 58TH AV 2,988,000 3,180,000 192,000 6 4 HOUSE 2012
731 E 22ND AV 1,035,000 1,100,000 65,000 6 2 HOUSE 1924
4752 CULLODEN ST 989,000 1,049,000 60,000 6 6 HOUSE 2007
2050 W 62ND AV 3,298,000 3,498,000 200,000 6 5 HOUSE 2013
2920 CELTIC AV 3,300,000 3,500,000 200,000 6 House
# 107 2255 W 5TH AV 279,000 295,900 16,900 6 1 APTU 1974
2812 W 19TH AV 1,738,000 1,838,000 100,000 5 5 HOUSE 1995
3273 W 38TH AV 2,260,000 2,390,000 130,000 5 6 HOUSE 1995
# 603 2288 PINE ST 699,000 739,000 40,000 5 2 APTU 1993
# 220 3250 W BROADWAY AV 425,000 449,000 24,000 5 2 APTU 1990
3330 W KING EDWARD AV 3,598,000 3,800,000 202,000 5 6 HOUSE 1922
5626 ELIZABETH ST 1,788,000 1,888,000 100,000 5 4 HOUSE 1946
# 111 2288 PINE ST 899,000 948,000 49,000 5 3 TWNHS 1992
# 101 5989 IONA DR 816,000 860,000 44,000 5 2 APTU 2007
3007 W 38TH AV 3,280,000 3,448,000 168,000 5 4 HOUSE 2013
1911 W 37TH AV 2,226,000 2,338,000 112,000 5 6 HOUSE 1915
5530 COLUMBIA ST 2,288,000 2,399,000 111,000 5 4 HOUSE 2012
2789 W 14TH AV 1,898,000 1,988,000 90,000 5 5 HOUSE 2013

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.