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Current: Pt Coquitlam's 12 %SOLD rate indicates a Stable Market. (This means 12 homes out of 100 sold with an average $39,988 surplus from the original list price).
Most Active Range: Homes between $850,000 - $900,000 have 21.4 %SOLD rate.
Least Active Range: Homes above $1.2 mill. have 5.3 %SOLD rate.
History: Port Coquitlam Year-To-Date RMR Home Price Index* shows that prices decreased $16,714.
*The RMR HPI (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Port Coquitlam has Average Listing supply; 134 homes are for sale and with the 12 %SOLD Monthly rate gives us a ~8 months of inventory. 17% of the active listings have reduced their price by $34,573 on average and $30,000 on median. We project Port Coquitlam to be a continued Stable Market.
January's Real Estate Statistics shows 69% of Vancouver's Detached Markets values experienced an Average Monthly Price decrease of $13,255 which more than last December's price drop of $11,497. On Average, the Fraser Valley Market shows a $3,389 monthly price decrease. Consumer confidence has been damped with the Volatile Stock Markets, tougher mortgage lending rules, and pending interest rate increases. We are forecasting a Buyer's Market across most Detached Markets for the following months.
Currently, the Condo Market presents a Cool Market with 77% of the Greater Vancouver (Lower Mainland) now decreasing. At the same time, 71% of Townhouse Markets are decreasing. (20 out of 28 Markets). Both Markets still indicate a Buyer's "Wait-To-Drop-More" behavior for the last 3 quarters. We are forecasting a Buyer’s Market in all 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 Neighborhood.
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