Largest Price Declines for Homes For Sale in Vancouver


Blog by Arnold Shuchat | July 13th, 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 7-13. In the last 7 days ending saturday evening, there were 130 (141) price changes of which 120 (138) were price declines. So there were actually 10 price increases this week! The average price decline from among the 120 declines was $41,915 ($45,963)  or 4%(4%).

72 (76) of the 120 properties or 60%(55%) were apartments the average price decline for which was $18,241($21,359) or 3%(3%). 

4 (9) out of the 120 or 3%(1.6%) of the declines were duplexes averaging a decline of $29,228 ($25,733) or 3%(3%).

30(40) or 25% (28.9%) of the declines were attributable to houses averaging a price decline of $104,827 ($96,255) or 5% (5%).

11 (9) or 9% (9.4%) of the price declines were attributable to townhouses averaging a price decline of $29,909 ($21,617) or 4% (3%).  

Well this last week saw 384 (353) new listings and 201 (149) sales for a total absorption rate of 52% (42.2%).

Apartments registered 113 (87) sales against new listings of 191 for an Absoprtion ratio of: 59% (47.5%)
Townhouses registered 18 (13) sales against new listings of 35 for an Absorption ratio of: 51%(37.1%)
Houses registered 63 (44) sales against new listings of 142(122) for an Absorption ratio of: 44%(36%).
Duplexes registered 5 sales out of 16 new listings for an absorption ratio of 31%

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
5772 RHODES ST 1,180,000 1,880,000 700,000 37 5 HOUSE 1949
1238 W 47TH AV 2,970,000 3,280,000 310,000 9 6 HOUSE 1990
# 109 2101 MCMULLEN AV 399,000 439,500 40,500 9 1 APTU 1973
930 LILLOOET ST 998,000 1,099,000 101,000 9 5 HOUSE 1925
2699 BURRARD ST 498,800 549,000 50,200 9 1 TWNHS 2012
# 3208 1111 ALBERNI ST 1,268,000 1,388,000 120,000 9 2 APTU 2008
# 5 973 W 7TH AV 389,900 424,900 35,000 8 1 TWNHS 1987
# PH1 1516 E 1ST AV 329,900 355,900 26,000 7 2 APTU 1989
# 210 228 E 18TH AV 359,000 387,000 28,000 7 1 APTU 1993
796 E 52ND AV 1,388,000 1,488,000 100,000 7 5 HOUSE 2012
# 901 1099 MARINASIDE CR 1,458,000 1,558,000 100,000 6 3 APTU 2001
1216 E 17TH AV 1,039,000 1,109,999 70,999 6 4 HOUSE 9999
# 401 998 W 19TH AV 409,000 434,800 25,800 6 2 APTU 1986
# 4 1870 YEW ST 319,900 339,900 20,000 6 1 APTU 1982
# 302 1023 WOLFE AV 374,900 398,000 23,100 6 1 APTU 1991
849 W 63RD AV 1,790,000 1,899,000 109,000 6 6 HOUSE 1990
3960 W 11TH AV 4,660,000 4,930,000 270,000 5 8 HOUSE 2013
# 83 4900 CARTIER ST 1,728,000 1,828,000 100,000 5 2 TWNHS 1984
# 209 1516 CHARLES ST 263,800 279,000 15,200 5 1 APTU 1978
# 2306 550 PACIFIC ST 462,000 488,250 26,250 5 1 APTU 2005
# 213 6328 LARKIN DR 679,900 718,000 38,100 5 3 APTU 2004
# 1102 1280 RICHARDS ST 1,788,000 1,888,000 100,000 5 2 APTU 2008
7972 SOPHIA ST 899,900 948,900 49,000 5 6 HOUSE 9999
4623 CLARENDON ST 968,000 1,020,000 52,000 5 7 HOUSE 1993
# 205 1823 W 7TH AV 299,000 315,000 16,000 5 1 APTU 1998
# 205 1088 QUEBEC ST 569,900 599,900 30,000 5 2 APTU 1999
# 1104 1833 FRANCES ST 408,000 429,000 21,000 5 2 APTU 1991
3045 KINGS AV 950,000 998,000 48,000 5 5 HOUSE 9999
3111 W 8TH AV 799,000 838,000 39,000 5 2 DUPXH 1988
2103 UPLAND DR 2,088,000 2,188,000 100,000 5 10 HOUSE 2013
# 1407 1188 HOWE ST 399,000 418,000 19,000 5 2 APTU 1994

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.