Here’s an updated list of condo price drops in Vancouver. The previous price drop list was for October 2006, all but one of those listings has been sold or expired and was removed from the market. This list is being updated on December 27th 2006.
Criteria for being included on the list: There must be a greater than $10,000 dollar reduction in asking price, extra points for listings over 90 days. If there is more than one unit with a price reduction above $10k in the same building I’ll list only the one that has been on the market for the longest. For instance: I see a minimum of 25 units listed with price drops ranging from $10,000 up to $70,000 located at 1082 Seymour st, but I’m only listing the one that has been for sale the longest.
There is only one listing from the original list that hasn’t sold or expired from active listing and thats the first one on this updated list.
1099 E BROADWAY – Original price: $349,900 | Asking: $308,000
“Faces Broadway but quiet inside”
4868 Fraser St. – Original price: $269,900 | Asking: $249,000
“Close to everything.”
2238 Kingsway – Original price: $305,000 | Asking: $289,000
“Hurry! All meas approx, buyer to verify”
1082 Seymour St. – Original price: $322,800 | Asking: $299,900
“Brand new 1 bedroom unit”
1328 W 73rd – Original price: $293,000 | Asking: $278,000
“unit on ground level with small patio”
1420 E 7th Ave – Original price: $368,000 | Asking: $310,000
“Short walk to popular commercial drive & skytrain”
5380 Oben St. – Original price: $349,900 | Asking: $319,888
“Oversize 1 bdrm & den, 722 sq ft.”
1155 Homer St. – Original price: $344,900 | Asking: $324,900
“Feels larger than 644 sq ft.”
711 E 6th– Original price: $349,000 | Asking: $319,800
“Recently renovated with new paint & laminate”
2388 Kingsway– Original price: $259,900 | Asking: $215,000
“Recently renovated with laminate floors”
Depending on who you talk to this could be your last chance to get a good deal, or it could be the beginning of further price drops in Vancouver real estate. I’ll leave the predictions up to you.