Aug 1, 2018
Current: Coquitlam's 8 %SOLD Rate indicates a Buyer Market. (This means 8 homes out of 100 sold last month with an Average $44,900 Discount from the Original List Price) but do check the many micro-markets 8 %SOLD rates for each neighbourhood.
Most Active Range: Homes below $1 mil. have a 13.0 %SOLD rate.
Least Active Range: Homes between $1.7 mill. - $2 mill. have 2.8 %SOLD rate.
History: The Coquitlam Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $88,543.
The Coquitlam Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $24,928.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Coquitlam has a normal Listing supply; 506 homes are for sale. With the 8 %SOLD Monthly Rate (STR) gives us ~13 months of inventory. 13% of the Active Listings have reduced their price by $53,261 on Average or $50,000 Median. We project Coquitlam Detached to be a Buyer Market.
July's Real Estate Statistics shows 76% of Vancouver's Detached Markets decreased values in this last month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $23,555 which displays a continuous decline from $11,020 price drop we saw in the month prior. On Average, the Fraser Valley Market shows $6,842 monthly price decrease which is a minimal improvement compared with $8,889 decrease that we saw in the month prior. With the latest trade tariffs, foreign buyer taxes, higher personal taxes, tough mortgage lending rules and the pending interest rate increase, we are still forecasting a Buyer's Market across the Detached Markets.
Currently, the Condo Market continues to present a Cooler Market with 57% of the Greater Vancouver (Lower Mainland) now decreasing. At the same time, just 39% of the Townhouse Markets are increasing (11 out of 28 Markets). Both Markets remain to signify Buyer's "Watching and Waiting" behavior which is also seen at the end of the previous quarter. We are still forecasting a Buyers Market in the lower end Condo/Townhouse Markets for the foreseeable future. We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. Please contact us for your own Market Value Update with an in-depth Analysis and Forecast in your Local Market Area and more specifically - Your Neighbourhood.
We thank Bill Coughlin for their support of these Coquitlam Real Estate Market Updates which include sub-areas such as Coquitlam West, Maillardville, Westwood Plateau, Burke Mountain, Central Coquitlam etc. Contact Bill and the Team as the Local Experts.... more details.
Download the full Coquitlam.Marketupdatereport.PDF
This Coquitlam Real Estate Market update includes the sub areas Westwood Plateau, Coquitlam West, Burke Mountain, Central Coquitlam, Maillardville etc.
Click Image to compare previous STR/ MTI graphs
Trying to do the math? Lessons: STR MTI
Coquitlam Market Reports and Forecasts
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This is the most accurate %SOLD-Monthly Sell Through Rates (STR Graph) using a 4 week time period to analysis the housing prices and Market trends. This Market Report is derived from the exact Sat to Friday 4 week time periods and this is dramatically more accurate than the month to month comparisons that vary based on actual working days eg month, weekends. These trends enable Real Estate Market predictions and forecast outlooks.
Disclaimer: Market predictions are exactly that: predictions. Market conditions are changing daily and you should consult with your local expert to confirm facts before making any decisions.
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