From hitting a historic peak for sales and prices in March to falling below the 10-year sales average by December, Vancouver real estate was hot and cold in 2016.
The city ended the year with the benchmark price for detached homes at $1,483,500, but there were some homes that sold for almost half that.
Global News accessed MLS sales data for the top five cheapest homes sold in the City of Vancouver in 2016. Our criteria was that they be detached homes with a freehold/non strata title.
Several of the homes sold for under their asking price, with the biggest discount being given to 1796 Island Avenue, whose buyer nabbed the property for 50 per cent off the listing price.
Virtually all the properties were marketed for lot value and most featured homes that appeared to have been abandoned or severely neglected.
It’s a different picture than 10 years ago when the top five cheapest homes all sold for under $330,000. Today, you’d be hard pressed to find a condo in Vancouver for that price.
Scroll below to look at 2016’s cheapest homes compared to the ones that went for the least in 2006.
1. 4248 Slocan Street, Renfrew-Collingwood
- Sold price: $800,000
- Listing price: $1,199,000
- Square footage: 1,800 sq. ft.
- Lot size: 112 sq. ft.
- Date sold: Nov. 12, 2016
2. 526 East Cordova Street, Downtown Eastside
- Sold price: $825,000
- Listing price: $850,000
- Square footage: 2,100 sq. ft.
- Lot size: 3,050 sq. ft.
- Date sold: Oct. 12, 2016
3. 1796 Island Avenue, Victoria-Fraserview
- Sold price: $850,000
- Listing price: $1,688,000
- Square footage: 2,000 sq. ft.
- Lot size: 6,049 sq. ft.
- Date sold: June 4, 2016
4. 605 East Cordova Street, Downtown Eastside
- Sold price: $850,000
- Listing price: $950,000
- Square footage: 1,956 sq. ft.
- Lot size: 3,050 sq. ft.
- Date sold: July 23,2016
5. 1746 SE Marine Drive, Victoria-Fraserview
- Sold price: $898,000
- Listing price: $1,030,000
- Square footage: 770 sq. ft.
- Lot size: 5,466 sq. ft.
- Date sold: Sept. 4, 2016
Now onto 2006, with the top five cheapest homes sold that year. While a lot has changed in Vancouver real estate in the last 10 years, the least expensive homes in 2006 were also all on the east side of the city and were either outdated or considerably rundown.
Despite the large number of tear-downs in recent years, all these homes are still standing and some have been beautifully updated.
2006
1. 4447 James Street, Riley Park
- Sold price: $300,000
- Listing price: $300,000
- Square footage: 2,014 sq. ft.
- Lot size: 366 sq. ft.
- 2017 status: Still standing and assessed at $1.9 million
2. 428 Salsbury Drive
- Sold price: $310,000
- Listing price: $345,000
- Square footage: 1,550 sq. ft.
- Lot size: 1,752 sq. ft.
- 2017 status: Still standing, considerably updated and assessed at $1.1 million
3. 436 Salsbury Drive
- Sold price: $320,000
- Listing price: $355,000
- Square footage: 1,750 sq. ft.
- Lot size: 2,384 sq. ft.
- 2017 status: Still standing, considerably updated and assessed at $1.2 million
4. 2089 Stainsbury Avenue, Kensington-Cedar Cottage
- Sold price: $320,000
- Listing price: $318,800
- Square footage: 981 sq. ft.
- Lot size: 1,336 sq. ft.
- 2017 status: Still standing, updated and assessed at $838,900
5. 431 Heatley Avenue
- Sold price: $325,000
- Listing price: $299,000
- Square footage: 1,450 sq. ft.
- Lot size: 1,035 sq. ft.
- 2017 status: Still standing and assessed at $722,500
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