Largest Price Declines for Homes For Sale in Vancouver


Blog by Arnold Shuchat | July 6th, 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 from July 1-7. In the last 7 days ending sat urday morning, there were 141 (122) price changes of which 138 (118) were price declines. The average price decline from among the 138 (118) declines was $45,963 ($43,946) or 4% (3%).

76 (70) of the 138 properties or 55% (59%)were apartments the average price decline for which was $21,359 ($19,366) or 3%(3%). 

9 (2) out of the 138 or 1.6% 6.5% (3%) of the declines were duplexes averaging a decline of $25,733($11,500) or 3%(2%).

40 (37) or 28.9% (31.3%) of the declines were attributable to houses averaging a price decline of $96,255 ($95,030) or 5% (4%).

9 (8) or 9.4% (11.9%) of the price declines were attributable to townhouses averaging a price decline of $21,617,($30,875) or 3% (3%).  

Well this last week saw 353 (340) new listings and 149 (189) sales for a total absorption rate of 42.2% (55.5%) a decline from 70% 3 weeks ago on all property. 

Apartments registered 87 sales against new listings of 183 for an Absoprtion ratio of: 47.5%
Townhouses registered 13 sales against new listings of 35 for an Absorption ratio of: 37.1%
Houses 44 sales against new listings of 122 for an Absorption ratio of: 36%.

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
# 190 288 E GEORGIA ST 365,000 485,000 120,000 25 1 OTHER 1998
3691 W 28TH AV 2,400,000 2,680,000 280,000 10 4 HOUSE 1928
# 906 1075 COMOX ST 259,900 289,900 30,000 10 2 APTU 1970
1572 E 41ST AV 529,900 588,800 58,900 10 2 HOUSE 1949
1837 W 19TH AV 4,888,000 5,388,000 500,000 9 4 HOUSE 1918
209 E 58TH AV 595,000 654,000 59,000 9 5 DUPXH 2013
211 E 58TH AV 615,000 674,000 59,000 9 5 DUPXH 2013
# 1703 1281 W CORDOVA ST 1,488,000 1,629,000 141,000 9 2 APTU 2005
3629 YALE ST 1,999,999 2,188,000 188,001 9 5 HOUSE 2013
# 1104 1720 BARCLAY ST 265,000 289,900 24,900 9 1 APTU 1970
# 211 4885 VALLEY DR 998,800 1,088,000 89,200 8 3 APTU 2005
3930 W 37TH AV 2,298,000 2,498,000 200,000 8 5 HOUSE 1925
746 W 68TH AV 878,000 940,000 62,000 7 4 DUPXH 2013
6463 GLADSTONE ST 1,099,800 1,175,000 75,200 6 5 HOUSE 1985
# 202 5625 SENLAC ST 515,000 549,000 34,000 6 3 TWNHS 1999
# 2502 438 SEYMOUR ST 349,000 372,000 23,000 6 1 APTU 1996
2208 W 15TH AV 1,868,000 1,988,000 120,000 6 3 DUPXH 2013
2326 W 5TH AV 1,098,000 1,168,000 70,000 6 3 DUPXH 2009
3749 W 11TH AV 3,570,000 3,797,000 227,000 6 5 HOUSE 2012
# 1501 2668 ASH ST 535,000 569,000 34,000 6 2 APTU 1990
3436 SEAFORTH DR 1,099,000 1,168,000 69,000 6 7 HOUSE 1993
# 103 1088 W 14TH AV 838,000 888,000 50,000 6 2 TWNHS 2008
# 101 2935 SPRUCE ST 339,000 359,000 20,000 6 1 APTU 1976
# 304 1176 W 6TH AV 425,000 449,800 24,800 6 2 APTU 1990
# 1010 1268 W BROADWAY BB 689,000 729,000 40,000 5 2 APTU 1993
742 W 68TH AV 898,000 950,000 52,000 5 4 DUPXH 2013
6842 CYPRESS ST 4,998,000 5,280,000 282,000 5 5 HOUSE 2009
# 313 6279 EAGLES DR 539,000 569,000 30,000 5 2 APTU 2005
# 303 215 E 33RD AV 359,000 378,900 19,900 5 1 APTU 2011
# 3703 1011 W CORDOVA ST 2,738,880 2,890,000 151,120 5 2 APTU 2010
1883 W 45TH AV 5,480,000 5,780,000 300,000 5 6 HOUSE 1997
2840 MCGILL ST 569,000 599,900 30,900 5 3 HOUSE 1931
# 603 3228 TUPPER ST 549,900 579,000 29,100 5 2 APTU 2006
# 304 2100 W 3RD AV 379,000 399,000 20,000 5 1 APTU 1975
2288 W 18TH AV 2,849,000 2,999,000 150,000 5 6 HOUSE 1995
# 2203 277 THURLOW ST 3,686,000 3,880,000 194,000 5 2 APTU 2012
4881 WALDEN ST 1,429,900 1,499,900 70,000 5 4 HOUSE 2012
# 704 1575 W 10TH AV 800,000 839,000 39,000 5 2 APTU 1999

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.