Jan 1, 2020
Current: Coquitlam's 13 %SOLD Rate indicates a Stable Market.
(This means 13 homes out of 100 sold last month with an Average $49,000 Discount from the Original List Price)
but do check the many micro-markets 13 %SOLD rates for each neighbourhood.
Most Active Range: Homes below $1.mill. have a 18.4 %SOLD rate.
Least Active Range: Homes above $2 mill. have 6.8 %SOLD rate.
History: The Coquitlam Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $92,694.
The Coquitlam Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $28,462.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Coquitlam has a normal Listing supply; 239 homes are for sale. With the 13 %SOLD Monthly Rate (STR) gives us ~8 months of inventory. 2% of the Active Listings have reduced their price by $42,480 on Average or $37,500 Median. We project Coquitlam Detached to be a Stable Market.
December's Real Estate Statistics shows that we have hit BOTTOM! Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of just $1,777. This is a vast improvement from the $5-25,000 monthly drops that we have seen for the last 30 consecutive months. This long dropping market means that we have built up a lot of pent-up buyers just waiting for the market to bottom out. Now some of these buyers are finally stepping back into the market. Today we have a stark difference between the Low-End and High-End Markets. Overall, Single Family Homes in the Fraser Valley Market had a $1,355 monthly price increase, which is a positive trend from last month's price increase of $792. Over the next few months, we are forecasting price increases in the Low-End (lower-50%) and stabilization for the High-End (Top-50%) Vancouver Detached Home Markets.
Currently, the Condo Market presents stable Market conditions with 57% of the Greater Vancouver (Lower Mainland) Condo Prices increasing $424 on average. On the other hand, 61% of the Townhouse Markets decreased $242 on average (11 out of 28 Markets). We are forecasting increasing Condo and Townhouse Markets in the coming 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 Neighborhood.
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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