Current: Pt Coquitlam's 19 %SOLD rate indicates a Sellers Market. (This means 19 homes out of 100 sold with an average $11,100 surplus from the original list price).
Most Active Range: Homes between $850,000 - $900,000 have 33.3 %SOLD rate.
Least Active Range: Homes above $1.1 mill. have 12.5 %SOLD rate.
History: Port Coquitlam Year-To-Date RMR Home Price Index* shows that prices increased $25,584.
*The RMR HPI (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Port Coquitlam has Average Listing supply; 143 homes are for sale and with the 19 %SOLD Monthly rate gives us a ~5 months of inventory. 20% of the active listings have reduced their price by $39,065 on average and $40,000 on median. We project Port Coquitlam to be a continued Sellers Market.
June's Real Estate Statistics shows 64% of Vancouver's Detached Markets decreased values this last month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $11,020 which shows an improvement from the significant drop of $16,674 that we saw in the month prior. On Average the Fraser Valley continues to show a further Market decline with their $8,889 monthly decrease from $4,469. With the latest trade tariffs, foreign buyer taxes, higher personal taxes, tough mortgage lending rules and the pending interest rate increase, we are forecasting a Buyer's Market across most Detached Markets.
Currently, the Condo Market is turning from a Hot to a Cooler Market, with 57% of the Greater Vancouver (Lower Mainland) still increasing. At the same time, just 50% of the Townhouse Markets are increasing (17 out of 28 Markets). The "I-Will-Wait" Attitude now outweighs the buyer's emotions of the "Fear-Of-Missing-Out" that we saw in early spring. We are forecasting a Buyers Market in the lower end Condo/Townhouse Markets for the following months. 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.