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West Vancouver houses shed half their peak prices

West Vancouver median detached houses prices have dropped by half compared to the peak prices recorded at the height of Lower Mainland’s real estate frenzy. In the 30 days leading up to December 13, 2017, the median detached house price stood at $4.5 million. In the 30 days leading up to October 7, 2019, the […]

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Metro Vancouver townhouse prices continue to fall

Metro Vancouver townhouse prices continued their slide in September, with some homes selling for as low as 32% below assessed. The OpenHousing Home Price Index for Metro Vancouver townhouses – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – fell 6% year-over-year, the September final update shows. OpenHousing Home Price Index covers […]

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Metro Vancouver detached prices edge lower

Metro Vancouver single family detached house prices continued their downward trend in September following the large drop recorded in August. The Open Housing Home Price Index (OH-HPI) for Metro Vancouver detached houses – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – fell 3% year-over-year, the September preliminary update shows. Open House […]

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Vancouver house sells for 41% below assessed

A detached house in Vancouver’s Renfrew Heights neighbourhood has just sold for 41% below assessed, marking a new low in the city’s home prices. 4435 Rupert Street, assessed at $2,083,300 and initially listed for $1,998,000 in June of this year, sold last week for just $1,220,000. Meanwhile, North Vancouver reported a sale 45% below assessed […]

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“Never lived in” – More Westbank empty homes hit the market

A pair of empty homes advertised as “never lived in” have gone on the market at two different condo projects belonging to controversial Vancouver developer Westbank. Unit 1809 at the 2016-completed Telus Garden located at 777 Richard Street building is listed for $1,488,000. Records show that seller originally paid $773,900 for the property in June […]

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33% off! Desperate developer dishes out deep discounts to clear unsold inventory

A controversial Vancouver developer has had to slash prices of his unsold inventory by as much as by a third after failing to attract buyers to his infill project which had been languishing on the market for nearly three years. Three out of the four units at architect and developer Michael Geller’s ‘Vinson House Cottages’ […]

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Metro Vancouver detached homes selling for as low as 45% below assessed

Metro Vancouver detached house price decline continues into September, with some homes selling for as low as 45% below assessed. The Open House Home Price Index for Metro Vancouver condos – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – fell 5% year-over-year, the September mid-month update shows. Looking at the sales […]

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Metro Vancouver condo market decline spreads to the lower end

Metro Vancouver condo prices continued their downward trajectory in the first half of September 2019 as the housing market decline spreads to the lower end of the market, with condos in Surrey selling for up to 35% below assessed. The Open House House Price Index for condos – calculated using the generally-accepted and transparent repeat […]

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Vancouver mortgage lenders having trouble locating borrowers to serve foreclosure papers

Metro Vancouver mortgage lenders are finding it difficult to locate their borrowers to serve foreclosure papers as default rates skyrocket. In one instance, the courts granted CIBC permission to email foreclosure papers to Xing Xiu Hua alias Xingxiu Hua after the lender alleged that the borrower “cannot be found after a diligent search and/or is […]

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Metro Vancouver detached home sale volume plummets 83% from peak

In the 30 days leading up to March 15, 2016, Metro Vancouver detached home sales volume averaged a staggering $159 million dollars a day. In the 30 days leading up to August 30, 2019, the figure had dropped to just $26 million –– an 83% plunge. This represents a year-over-year drop of 21% across the […]

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