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Current: Coquitlam's 15 %SOLD Rate indicates a Stable Market.
(This means 16 homes out of 100 sold last month with an Average $46,000 Discount from the Original List Price)
Most Active Range: Homes below $1.45 mill. have a 30.4 %SOLD rate.
Least Active Range: Homes between $2.5 mill. have 8.3 %SOLD rate.
History: The Coquitlam Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $142,332.
The Coquitlam Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $129,891.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Coquitlam has a normal Listing supply; 246 homes are for sale. With the 15 %SOLD Monthly Rate (STR) gives us ~7 months of inventory. 9% of the Active Listings have reduced their price by $80,139 on Average or $51,000 Median. We project Coquitlam Detached now in a Stable Market.
Greater Vancouver November 2023:
In the realm of Greater Vancouver's Single-Family Detached Homes, the seasonal descent persists, with November witnessing an average drop of $17,453. This contrasts with the previous month's average decline of $15,669, making it the lowest November price dip in a decade.
This seasonal market slowdown is compounded by ongoing uncertainties, such as additional carbon tax hikes, inflationary pressures, and these 20-year high mortgage rates. With an anticipated slight reduction in interest rates in early spring, we foresee the market's downturn continuing until February 2024.
Recent data reveals noteworthy declines in both the condominium and townhouse markets. Condo prices have decreased by an average of $6,430, while townhouse values have seen a decline of $4,415.
Join us every Saturday at noon as we identify the winners and losers in all the cities in the Lower Mainland, thus offering you the most accurate market trends at VancouverMarketReports.com. For your market value update encompassing comprehensive analysis and a forecast for your neighborhood and local market area, please don't hesitate to reach out to Bill Coughlin and the Coughlin Team @ 778-374-3744.
Fraser Valley November 2023:
The cost of Single-Family Detached Homes in Fraser Valley persisted in its decline, registering an average of $14,779 in November. This signifies a significant drop from the preceding month's average of $10,502, marking the most substantial decrease witnessed this year and the lowest November price drop in the past decade.
In the realm of Greater Vancouver's Single-Family Detached Homes, the seasonal descent persists, with November witnessing an average drop of $17,453. This starkly contrasts with the previous month's average decline of $15,669, making it the lowest November price dip in a decade.
This seasonal market slowdown is compounded by ongoing uncertainties, such as additional carbon tax hikes, inflationary pressures, and these 20-year high mortgage rates. With an anticipated slight reduction in interest rates in early spring, we foresee the market's downturn continuing until February 2024.
Recent data reveals noteworthy declines in both the condominium and townhouse markets. Condo prices have decreased by an average of $6,430, while townhouse values have seen a decline of $4,415.
Join us every Saturday at noon as we identify the winners and losers in all the cities in the Lower Mainland, thus offering you the most accurate market trends at VancouverMarketReports.com. For your market value update encompassing comprehensive analysis and a forecast for your neighborhood and local market area, please don't hesitate to reach out to Bill Coughlin and the Coughlin Team @ 778-374-3744.
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