Vancouver Price Drop : Mondo Condo Listings – July 17, 2012

Mondo Condo Listings – July 17, 2012

23 Comments Posted by on July 17, 2012

This is a new report concept I came up with after seeing a post on VancouverCondo.Info referencing an old Condo Index for various units downtown.  This table shows the 20 buildings (technically building addresses) that have the most units currently for sale along with the number of units that have dropped in price (since early March).  I’ll update this one periodically

*   Denotes a building that is within 1 year old
** Denotes a building that is not currently complete

7 of the top 11 are less than a year old… Looks like a lot of flippers are in for a rude awakening

Address Region Units $ Drops %
161 W GEORGIA ST * Downtown, Vancouver West 37 8 22%
833 SEYMOUR ST * Downtown, Vancouver West 33 14 42%
7121 192ND ST * Clayton, Cloverdale 27 9 33%
5782 BERTON AV * University, Vancouver West 24 12 50%
1028 BARCLAY ST * West End, Vancouver West 22 11 50%
5682 WHARF AV ** Sechelt, Sunshine Coast 22 0 0%
9888 CAMERON ST Sullivan Heights, Burnaby 20 11 55%
565 SMITHE ST Downtown, Vancouver West 20 9 45%
6688 ARCOLA ST * Highgate, Burnaby 19 10 53%
660 NOOTKA WY Port Moody Centre, Port Moody 19 9 47%
838 W HASTINGS ST * Downtown, Vancouver West 19 8 42%
1011 W CORDOVA ST Coal Harbour, Vancouver West 19 3 16%
4050 WHISTLER WY Whistler, Whistler Pemberton 19 3 16%
4888 BRENTWOOD DR Brentwood Park, Burnaby 18 11 61%
128 W CORDOVA ST Downtown, Vancouver West 18 8 44%
6888 ROYAL OAK AV ** Metrotown, Burnaby 17 0 0%
17171 2B AV ** Pacific Douglas, White Rock 16 16 100%
15152 RUSSELL AV White Rock, White Rock 16 8 50%
280 ROSS DR Fraserview, New Westminster 16 5 31%
2036 LONDON LN Whistler, Whistler Pemberton 16 5 31%
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COMMENT:
I like the authors parameters……ie up to ONE year old…..or not YET completed.
Anything older could be owner occupied, etc. which could confuse the interpretation,  hence those with asterisks have  a high probability of speculative flips.
I hope that Pre Sales will be stopped, they are a bane to the Real Estate Industry. They contribute NOTHING POSITIVE to the economy. All they do is price people out and inflate the market, till the inevitable collapse occurs.
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