Flippers in Metro Vancouver flopped through summer 2019, with many selling for double digit percentage losses.
All detached property flips over the last 90 days in Vancouver, Richmond, Burnaby ended up with the seller getting less than what they originally paid for the property.
OpenHousing defines a flip as a property bought and sold within three years without rebuilding or renovating substantially.
Flippers of a property in Cedardale, West Vancouver, lost $880,000 in just eight months after buying a property in October 2018 for $2.8 million and selling in June this year for $1.9 million.
In City of Vancouver, a property in Dunbar which was bought for $2.8 million in May 2017 sold for $2.1 million at the end of June 2019.
In Richmond, a broadmoor property sold last month for $2.3 million after being bought for $3.44 million in April 2017.
But flippers were still making profits in the outer suburbs of Surrey, Langley and Maple Ridge, especially the ones selling lower end properties.
Vancouver
Address
Year Built
Sold Price
Sold Date
Bought Price
Bought Date
Profit/Loss %
2211 GRANT STREET
1922
$1,540,000
5/25/2019
$1,590,000
11/6/2016
-3.14
5806 QUEBEC STREET
1946
$1,600,000
6/19/2019
$1,675,000
11/10/2017
-4.48
3964 W 21ST AVENUE
1931
$2,100,000
6/28/2019
$2,812,000
5/8/2017
-25.32
8571 WILTSHIRE STREET
1956
$2,100,000
7/10/2019
$2,628,000
7/15/2016
-20.09
5023 SHERBROOKE STREET
1946
$1,190,000
7/14/2019
$1,200,000
8/15/2018
-0.83
3281 E 7TH AVENUE
1942
$1,080,000
7/16/2019
$1,100,000
7/19/2018
-1.82
Richmond
Address
Year Built
Sold Price
Sold Date
Bought Price
Bought Date
Profit/Loss %
4719 DUNFELL ROAD
2005
$1,525,000
6/11/2019
$1,640,000
4/17/2017
-7.01
9851 GILHURST CRESCENT
2012
$2,300,000
7/8/2019
$3,440,000
4/18/2017
-33.14
10611 SKAGIT DRIVE
2015
$2,288,000
7/13/2019
$2,350,000
12/7/2017
-2.64
11680 MELLIS DRIVE
1968
$1,100,000
7/24/2019
$1,135,000
11/9/2016
-3.08
5351 MCCOLL CRESCENT
1991
$1,075,000
7/27/2019
$1,208,000
9/13/2017
-11.01
10860 ROSECROFT CRESCENT
2017
$2,188,000
8/1/2019
$2,500,000
4/23/2018
-12.48
Burnaby
Address
Year Built
Sold Price
Sold Date
Bought Price
Bought Date
Profit/Loss %
7030 BUCHANAN STREET
1991
$1,980,000
6/4/2019
$2,550,000
4/4/2017
-22.35
3125 NOEL DRIVE
1957
$1,150,000
6/6/2019
$1,230,000
7/31/2017
-6.50
West Vancouver
Address
Year Built
Sold Price
Sold Date
Bought Price
Bought Date
Profit/Loss %
336 MOYNE DRIVE
2014
$3,288,000
5/28/2019
$3,025,000
10/24/2018
8.69
950 3RD STREET
1953
$1,920,000
6/26/2019
$2,800,000
10/6/2018
-31.43
1293 JEFFERSON AVENUE
2015
$3,570,000
8/9/2019
$4,170,000
11/18/2016
-14.39
New Westminster
Address
Year Built
Sold Price
Sold Date
Bought Price
Bought Date
Profit/Loss %
811A DUBLIN STREET
1906
$1,020,000
6/10/2019
$760,000
1/11/2017
34.21
1402 EIGHTH AVENUE
1927
$1,160,000
6/24/2019
$1,360,000
4/9/2018
-14.71
1358 TENTH AVENUE
2017
$875,000
6/26/2019
$883,809
2/10/2018
-1.00
109 FAIRWEATHER LANE
1998
$1,330,000
7/29/2019
$1,280,000
6/4/2017
3.91
North Vancouver
Address
Year Built
Sold Price
Sold Date
Bought Price
Bought Date
Profit/Loss %
956 HARTFORD PLACE
1959
$1,305,000
6/1/2019
$1,280,000
7/13/2017
1.95
1326 COTTONWOOD CRESCENT
1951
$1,092,000
7/16/2019
$1,250,000
10/31/2017
-12.64
516 VIENNA CRESCENT
1959
$1,845,000
7/16/2019
$1,850,000
6/27/2018
-0.27
Delta
Address
Year Built
Sold Price
Sold Date
Bought Price
Bought Date
Profit/Loss %
5127 1A AVENUE
2012
$2,062,000
7/6/2019
$2,250,000
5/2/2018
-8.36
Surrey
Address
Year Built
Sold Price
Sold Date
Bought Price
Bought Date
Profit/Loss %
9498 127A STREET
1973
$786,000
5/25/2019
$821,000
2/7/2018
-4.26
2796 160 STREET
2016
$970,000
5/26/2019
$909,500
1/23/2017
6.65
8 6195 168 STREET
2005
$782,500
5/27/2019
$729,900
4/11/2017
7.21
5667 148A STREET
2004
$865,000
5/29/2019
$750,000
8/16/2016
15.33
2495 150 STREET
1990
$1,100,000
5/29/2019
$1,280,000
6/21/2016
-14.06
46 15288 36 AVENUE
2003
$907,600
5/29/2019
$1,020,000
5/11/2017
-11.02
5976 189A STREET
1991
$1,125,000
5/31/2019
$1,088,000
10/1/2016
3.40
5873 131A STREET
2012
$985,000
6/1/2019
$885,000
8/6/2016
11.30
5952 128 STREET
2010
$1,017,000
6/3/2019
$855,000
12/6/2016
18.95
12905 14A AVENUE
2009
$2,070,000
6/3/2019
$2,778,000
7/10/2016
-25.49
6475 131A STREET
1979
$823,000
6/11/2019
$725,000
6/13/2016
13.52
14437 58 AVENUE
2004
$1,190,000
6/13/2019
$1,090,000
8/5/2018
9.17
5928 129B STREET
2017
$1,190,000
6/14/2019
$1,250,000
3/25/2018
-4.80
10552 WOODGLEN CLOSE
1988
$1,010,000
6/15/2019
$950,000
3/2/2017
6.32
7320 194 STREET
2009
$935,000
6/18/2019
$835,000
9/18/2016
11.98
6888 177 STREET
2011
$1,093,000
6/19/2019
$999,000
11/1/2018
9.41
8411 144 STREET
2010
$1,175,000
6/19/2019
$1,134,000
2/22/2018
3.62
6751 142 STREET
1987
$805,000
6/24/2019
$815,000
6/24/2017
-1.23
6570 CLAYTONHILL PLACE
1988
$950,000
7/5/2019
$930,000
5/8/2017
2.15
5946 188 STREET
1996
$920,000
7/6/2019
$898,000
7/24/2017
2.45
7635 152 STREET
2012
$965,000
7/10/2019
$815,000
7/18/2016
18.40
18965 68 AVENUE
2005
$849,000
7/13/2019
$705,000
10/21/2016
20.43
111 169A STREET
2015
$1,300,000
7/14/2019
$1,360,000
5/10/2017
-4.41
6621 185A STREET
1998
$827,000
7/18/2019
$785,500
3/26/2017
5.28
19361 73 AVENUE
2010
$1,080,000
7/20/2019
$990,000
7/16/2017
9.09
6315 195B STREET
1979
$835,000
8/8/2019
$750,000
8/13/2018
11.33
Port Moody
Address
Year Built
Sold Price
Sold Date
Bought Price
Bought Date
Profit/Loss %
1250 IOCO ROAD
1968
$1,596,000
7/9/2019
$1,898,000
5/12/2017
-15.91
Port Coquitlam
Address
Year Built
Sold Price
Sold Date
Bought Price
Bought Date
Profit/Loss %
1315 PITT RIVER ROAD
1914
$670,000
6/19/2019
$710,000
3/15/2017
-5.63
Langley
Address
Year Built
Sold Price
Sold Date
Bought Price
Bought Date
Profit/Loss %
8230 204 STREET
2017
$1,030,000
6/6/2019
$1,046,500
2/1/2018
-1.58
23746 55A AVENUE
1984
$1,520,000
6/25/2019
$1,525,000
6/17/2017
-0.33
27089 34A AVENUE
1981
$755,000
7/6/2019
$661,500
10/12/2017
14.13
7127 208A STREET
2016
$1,075,000
7/8/2019
$1,079,000
11/21/2017
-0.37
4870 200 STREET
1982
$820,000
7/15/2019
$770,000
9/18/2018
6.49
6878 198B STREET
2005
$1,060,000
7/18/2019
$1,050,000
7/22/2017
0.95
Maple Ridge
Address
Year Built
Sold Price
Sold Date
Bought Price
Bought Date
Profit/Loss %
24111 102A AVENUE
2002
$673,500
6/1/2019
$545,000
6/13/2016
23.58
23640 KANAKA WAY
2001
$749,000
6/16/2019
$770,000
7/17/2017
-2.73
11980 GLENHURST STREET
1971
$700,000
6/18/2019
$625,000
10/25/2016
12.00
21903 ISAAC CRESCENT
1985
$742,000
6/21/2019
$685,000
11/6/2016
8.32
24680 100A AVENUE
2016
$1,000,000
6/27/2019
$1,040,000
7/19/2017
-3.85
21716 117 AVENUE
1977
$913,000
7/22/2019
$735,000
9/24/2016
24.22
12293 228 STREET
1941
$765,000
7/23/2019
$750,000
9/20/2016
2.00
24345 103A AVENUE
2003
$780,000
7/24/2019
$753,000
9/28/2017
3.59
2 thoughts on “Metro Vancouver flippers flopped over summer”
Add in transaction costs and practically nobody made money. Add in carry costs and NOBODY made money. Flippers need to either live in the houses they buy(which means moving constantly and incurs costs of its own)or flip the home in 6 months or less if they want to actually make money.
Also, many flippers do indeed renovate homes before re-selling, which is why the renovation industry became so hit and is now dead.
Great info!
Love to see data on new SFH’s and what’s happening with builders/developers in this climate. They must be taking big hits but we don’t hear anything about it.
The Broadmoor property in Richmond that sold for a loss (9851 Gilhurst) was also listed as a “hotel” on hotels.ca with what appeared the most recent stay/review in June 2019
Add in transaction costs and practically nobody made money. Add in carry costs and NOBODY made money. Flippers need to either live in the houses they buy(which means moving constantly and incurs costs of its own)or flip the home in 6 months or less if they want to actually make money.
Also, many flippers do indeed renovate homes before re-selling, which is why the renovation industry became so hit and is now dead.
Great info!
Love to see data on new SFH’s and what’s happening with builders/developers in this climate. They must be taking big hits but we don’t hear anything about it.
The Broadmoor property in Richmond that sold for a loss (9851 Gilhurst) was also listed as a “hotel” on hotels.ca with what appeared the most recent stay/review in June 2019
https://ca.hotels.com/ho674514880/happiness-house-richmond-canada/