Most Vancouver houses sold for below assessed value in February

By ThinkPol Staff

More than half of all Vancouver detached houses sold for below assessment in February, with some going as low as 24% below, MLS sales data show.

The MLS sales data, jealously guarded by the real estate industry, was provided to ThinkPol by an industry source.

The data show that a house on the 2100 block of 18TH Avenue West, assessed at $4,495,900[1], sold for $3,398,000, or 24% below assessed, after being listed at $3,788,000[2]

Another property on the same avenue, on the 3500 block, assessed at $2,717,700[3], sold for $2,356,000, or 13% below assessed, after being listed at $2,298,000[4]

A third West Side property, on the 900 block of 57 Avenue West, assessed at $3,343,700[5], sold for $2,930,000, or 12% below assessed, after being listed at $2,998,000[6]

Interestingly, the house that sold for most above asking was also in the West Side.

The property, on the 700 block of 22 Avenue West, assessed at $2,876,000[7], sold for $3,600,000, or 25% above assessed, after being listed at $3,598,000[8]

MLS#AddressDate SoldSold PriceAssessedGain/Loss %
R22411413XXX WINDSOR ST VANCOUVER2/27/2018$1,220,000$1,418,000-13.96
R22409852XXX 2ND AVE E VANCOUVER2/26/2018$1,750,000$1,588,10010.19
R22408153XXX 16TH AVE E VANCOUVER2/27/2018$1,480,000$1,516,200-2.39
R22408002XXX 26TH AVE E VANCOUVER2/26/2018$1,250,000$1,327,600-5.85
R22403101XXX 13TH AVE E VANCOUVER2/22/2018$1,550,000$1,748,900-11.37
R22401052XXX DUNBAR ST VANCOUVER2/25/2018$2,350,000$2,150,0009.3
R22400163XXX 27TH AVE E VANCOUVER2/18/2018$1,400,888$1,400,0000.06
R22398601XXX KITCHENER ST VANCOUVER2/28/2018$1,750,000$1,327,00031.88
R22393782XXX GRAVELEY ST VANCOUVER2/20/2018$1,600,000$1,470,0008.84
R22393301XXX 13TH AVE E VANCOUVER2/22/2018$1,608,000$1,445,00011.28
R22393043XXX FRANKLIN ST VANCOUVER2/20/2018$1,330,000$1,420,300-6.36
R22392388XXX LAUREL ST VANCOUVER2/18/2018$1,830,000$1,845,300-0.83
R2239115XXX 22ND AVE W VANCOUVER2/19/2018$3,600,000$2,876,00025.17
R22391101XXX 62ND AVE W VANCOUVER2/21/2018$3,220,000$3,330,400-3.31
R22390862XXX GEORGIA ST E VANCOUVER2/22/2018$1,093,000$1,259,200-13.2
R22387202XXX WINDSOR ST VANCOUVER2/20/2018$1,752,000$1,554,00012.74
R22386872XXX 31ST AVE W VANCOUVER2/20/2018$4,988,000$4,495,10010.97
R22386306XXX RALEIGH ST VANCOUVER2/20/2018$1,818,000$1,897,800-4.2
R22384801XXX KAMLOOPS ST VANCOUVER2/10/2018$1,350,000$1,443,000-6.44
R22382311XXX 58TH AVE E VANCOUVER2/18/2018$2,300,000$1,715,00034.11
R22380613XXX 22ND AVE E VANCOUVER2/13/2018$1,555,000$1,594,500-2.48
R22380214XXX DUMFRIES ST VANCOUVER2/11/2018$1,795,000$1,625,00010.46
R22378124XXX DRUMMOND DR VANCOUVER2/6/2018$17,388,000$16,512,0005.31
R22377693XXX GEORGIA ST E VANCOUVER2/13/2018$1,500,000$1,372,0009.33
R2237726XXX 33RD AVE E VANCOUVER2/8/2018$1,075,000$1,173,900-8.42
R223752185 26TH AVE W VANCOUVER2/12/2018$2,350,000$2,422,300-2.98
R22373945XXX CULLODEN ST VANCOUVER2/7/2018$1,036,800$1,163,700-10.9
R22373054XXX BRANT ST VANCOUVER2/12/2018$1,351,733$1,277,0005.85
R22372448XXX DUFF ST VANCOUVER2/5/2018$1,400,000$1,463,700-4.35
R22370343XXX CLARK DR VANCOUVER2/8/2018$1,700,000$1,520,40011.81
R22369387XXX CARTIER ST VANCOUVER2/10/2018$2,700,000$2,331,00015.83
R22369258XXX OSLER ST VANCOUVER2/22/2018$1,880,000$1,886,300-0.33
R22365482XXX PARKER ST VANCOUVER2/21/2018$2,288,888$1,689,00035.52
R2236355XXX AUBREY PL VANCOUVER2/15/2018$1,750,000$1,895,000-7.65
R22363205XXX WALLACE ST VANCOUVER2/3/2018$2,600,000$2,927,000-11.17
R22363122XXX 3RD AVE W VANCOUVER2/18/2018$3,488,888$3,487,0000.05
R22362888XXX MONTCALM ST VANCOUVER2/26/2018$3,250,000$3,249,0000.03
R223613655 49TH AVE E VANCOUVER2/2/2018$1,750,000$1,659,7005.44
R22360052XXX ONTARIO ST VANCOUVER2/2/2018$1,312,000$1,390,000-5.61
R2235406XXX 12TH AVE E VANCOUVER2/8/2018$1,599,000$1,456,0009.82
R22353423XXX 21ST AVE W VANCOUVER2/4/2018$2,820,000$2,870,400-1.76
R22352672XXX CHARLES ST VANCOUVER2/10/2018$1,535,000$1,619,000-5.19
R22352463XXX 18TH AVE W VANCOUVER2/5/2018$2,356,000$2,717,700-13.31
R22349963XXX 18TH AVE E VANCOUVER2/1/2018$1,285,000$1,213,3005.91
R22348843XXX 33RD AVE W VANCOUVER2/24/2018$2,850,000$2,940,500-3.08
R223484864 28TH AVE W VANCOUVER2/7/2018$2,379,000$2,270,3004.79
R2234806XXX 37TH AVE E VANCOUVER2/8/2018$2,929,000$2,395,00022.3
R2234726XXX 59TH AVE E VANCOUVER2/5/2018$1,800,000$1,858,000-3.12
R22347041XXX 52ND AVE W VANCOUVER2/20/2018$3,100,000$3,425,000-9.49
R22346041XXX 13TH AVE E VANCOUVER2/5/2018$1,808,800$1,798,0000.6
R22345572XXX 29TH AVE W VANCOUVER2/13/2018$3,388,000$3,262,0003.86
R22342362XXX PARKER ST VANCOUVER2/1/2018$1,480,000$1,430,8003.44
R22341582XXX ALMA ST VANCOUVER2/21/2018$3,500,000$3,602,000-2.83
R22340581XXX 53RD AVE W VANCOUVER2/16/2018$3,200,000$3,332,800-3.98
R22339603XXX NORMANDY DR VANCOUVER2/16/2018$1,790,337$1,779,0000.64
R22339181XXX 15TH AVE W VANCOUVER2/2/2018$2,850,000$3,086,000-7.65
R22338943XXX 59TH AVE E VANCOUVER2/8/2018$1,795,000$1,826,100-1.7
R22338374XXX 18TH AVE W VANCOUVER2/2/2018$3,000,000$3,123,000-3.94
R2233368XXX 57TH AVE W VANCOUVER2/1/2018$2,930,000$3,343,700-12.37
R22326212XXX 16TH AVE E VANCOUVER2/2/2018$1,420,000$1,452,400-2.23
R22326132XXX 5TH AVE E VANCOUVER2/27/2018$2,174,400$1,916,00013.49
R22315825XXX BLENHEIM ST VANCOUVER2/8/2018$3,030,000$2,932,0003.34
R2231578XXX 38TH AVE E VANCOUVER2/19/2018$1,285,000$1,466,600-12.38
R2231218XXX 17TH AVE W VANCOUVER2/21/2018$2,220,000$2,434,900-8.83
R22311782XXX BURQUITLAM DR VANCOUVER2/16/2018$1,728,800$1,934,600-10.64
R22303883XXX LILLOOET ST VANCOUVER2/11/2018$1,360,000$1,282,5006.04
R22302335XXX CYPRESS ST VANCOUVER2/19/2018$3,780,000$3,135,00020.57
R2229870XXX KING EDWARD AVE W VANCOUVER2/7/2018$3,280,000$2,685,90022.12
R22289405XXX SHERBROOKE ST VANCOUVER2/23/2018$1,739,888$1,707,0001.93
R22288512XXX 48TH AVE E VANCOUVER2/15/2018$1,665,000$1,599,3004.11
R22282902XXX VENABLES ST VANCOUVER2/11/2018$1,690,000$1,783,000-5.22
R22280122XXX 18TH AVE W VANCOUVER2/13/2018$3,398,000$4,495,900-24.42
R2227948XXX SKEENA ST VANCOUVER2/2/2018$1,430,000$1,267,40012.83
R2226493XXX 48TH AVE E VANCOUVER2/21/2018$1,940,000$1,821,0006.53
R22263341XXX RENFREW ST VANCOUVER2/23/2018$1,639,000$1,333,00022.96
R22255983XXX 22ND AVE E VANCOUVER2/5/2018$2,100,000$2,009,0004.53
R22245264XXX 13TH AVE W VANCOUVER2/15/2018$4,120,000$3,951,0004.28
R22238434XXX FLEMING ST VANCOUVER2/2/2018$1,029,000$1,081,000-4.81
R22225601XXX CONNAUGHT DR VANCOUVER2/2/2018$12,990,000$14,641,000-11.28
R22213282XXX 49TH AVE E VANCOUVER2/5/2018$1,578,888$1,577,0000.12
R22205896XXX DOMAN ST VANCOUVER2/18/2018$2,950,000$3,014,000-2.12
R22188803XXX 16TH AVE W VANCOUVER2/9/2018$3,030,000$3,349,000-9.53
R2217601XXX 63RD AVE E VANCOUVER2/12/2018$1,090,000$1,208,400-9.8
R22088682XXX TURNER ST VANCOUVER2/2/2018$1,245,000$1,353,400-8.01
R22070687XXX HEATHER ST VANCOUVER2/27/2018$1,800,000$2,029,900-11.33
R22009682XXX 23RD AVE W VANCOUVER2/1/2018$3,680,000$3,516,0004.66

While the Real Estate Board of Greater Vancouver February 2018 stats show that 130 detached houses were sold in Vancouver last month[9], our data shows that only 86 houses were sold.

44 out of the 86 appear to have been sold for below assessed value.

We have repeatedly asked REBGV to provide us anonymized sales data so that we can independently verify the data we have received, but our requests have so far fallen on deaf ears.

Jill Oudil, REBGV president, has acknowledged the slowdown in the single family homes market.

“Rising interest rates and stricter mortgage requirements have reduced home buyers’ purchasing power, particularly for those at the entry level of our market,” Jill Oudil, REBGV president said. “Even still, the supply of apartment and townhome properties for sale today is unable to meet demand. On the other hand, our detached home market is beginning to enter buyers’ market territory.”

Update 2:15PM: We have received a more complete dataset from a different source. We have updated the information accordingly. We also wish to thank Chuck Hallett AKA Barley_Mowat[10] for his constructive criticism.

References   [ + ]

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