Current: Port Coquitlam's 28 %SOLD rate indicates a Seller Market.
(This means 28 homes out of 100 sold with an average $1 surplus from the original list price).
Most Active Range: Homes below $1.15 mill. have 50.0 %SOLD rate.
Least Active Range: Homes above $1.4 mill. have 18.0 %SOLD rate.
History: Port Coquitlam Year-To-Date RMR Home Price Index* shows that prices increased $358,000.
*The RMR HPI (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Port Coquitlam has Average Listing supply; 76 homes are for sale and with the 28 %SOLD Monthly rate gives us a ~4 months of inventory. 4% of the active listings have reduced their price by $49,999 on average and $49,999 on median. We project Port Coquitlam to be a continued Seller Market.
The Real Estate bubble burst is over! The Vancouver Market just rebounded from the $17,304 drop in July to a $9,115 INCREASE in August. That is a 77% of Single-Family Home Markets just went up! Why did this turn around? Although the number of sales is normal, we now have the lowest listing inventory since 2011. This lack of listings is partially due to the covid infections/lockdowns resulting in many sellers putting plans on hold. Here in the Fraser Valley 89% of the home market increasing by an average of $29,258. This is the largest August price increase we've seen in the last 11years. This Strong Sellers’ market is a combination of high buyer demand and one of the lowest listing inventories since 2011. We are forecasting that the majority of the Metro Vancouver and Fraser Valley Markets will continue to be a Seller's Market in the coming months.
Currently, Condos are now in a Seller's Market with 63% of the Greater Vancouver (Lower Mainland) Condo Prices increasing $3,264 on average. On the other hand, 68% Townhouse Markets (16 out of 28) prices increased $5,149 on average. We analyze and provide 97 individual City's Home Price Indexes to supply you with the MOST ACCURATE Market Trends every Saturday. 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.