Feb 1, 2020
Current: Coquitlam's 18 %SOLD Rate indicates a Seller Market.
(This means 18 homes out of 100 sold last month with an Average $38,500 Discount from the Original List Price)
but do check the many micro-markets 18 %SOLD rates for each neighbourhood.
Most Active Range: Homes below $1.mill. have a 34.2 %SOLD rate.
Least Active Range: Homes above $2 mill. have 5.0 %SOLD rate.
History: The Coquitlam Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $74,000.
The Coquitlam Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $22,284.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Coquitlam has a normal Listing supply; 270 homes are for sale. With the 18 %SOLD Monthly Rate (STR) gives us ~6 months of inventory. 9% of the Active Listings have reduced their price by $65,738 on Average or $51,500 Median. We project Coquitlam Detached to be a Seller Market.
February's Real Estate Statistics shows a Normal Spring Market! Single Family Homes in Metro Vancouver experienced an Average Monthly Price increase of $2,749 a real improvement from the $3,176 price decrease the month prior. Finally, we have ended 32 consecutive months of dropping home prices. On the other hand, Single Family Homes in the Fraser Valley Market had a $4,302 monthly price increase, this is our most substantive recovery since the Peak in April 2018 with 94% of Detached Markets increased values. The Coronavirus issue now moves us into uncharted territory. The pent-up buyer demand is still there! Over the next few months, we are forecasting modest seasonal price increases in most Vancouver Detached Home Markets.
Currently, the Condo Market presents Seller Market conditions with 83% of the Greater Vancouver (Lower Mainland) Condo Prices increasing $1,428 on average. At the same time, 68% of the Townhouse Markets increased $831 on average (19 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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