Tri Cities Real Estate Market Statistics – May 2017

Here are the latest real estate market statistics from Macdonald Realty on the tri-cities listings and sales in May 2017.

Coquitlam

In the Coquitlam market, there were 144 sales and 351 active listings for detached homes at the end of May. The benchmark sale price was $1,231,200, and the average days on market were 21. Central Coquitlam with 27 sales experienced the most sales activity.

The condo market had 140 sales and 127 active listings. The benchmark sale price was $397,100 with 13 average days on market. The hottest market for sales was North Coquitlam, 52 sales.

Townhome featured 58 sales and 46 active listings. The benchmark sales price was $565,100 with an average days on market of 13. Burke Mountain with 18 sales had the most sales activity in May.

It’s a seller’s market for all produce types.

MarketHotSheet_May2017_Coquitlam

Port Coquitlam

The Port Coquitlam had 68 sales and 106 active listings for detached homes. The benchmark sale price was $967,600 with an average days on market of 14. Oxford Heights with 19 sales experienced the most sales activity of the month.

Condo featured 60 sales, 48 active listings, a $349,900 benchmark sales price, and 13 average days on market. Central Pt Coquitlam had the most sales activity at 41.

In comparison, townhome had 40 sales and 38 active listings. The benchmark sales price was $574,100 with an average days on market of 18. Riverwood was the hottest market with 12 sales.

It’s a seller’s market for all product types.

MarketHotSheet_May2017_PortCoquitlam

Port Moody

There were 30 sales and 82 active listings for detached homes in the Port Moody market. The benchmark sale price was $1,430,100, and the average days on market were 23. Anmore with 7 sales had the most sales activity.

The condo market featured 42 sales, 46 active listings, $545,900 benchmark sale price, and 13 average days on market. Port Moody Centre, 29 sales, had most sales activity.

In comparison, townhome sales were 33, active listings were 19 and the benchmark sale price was $561,000. The average days on market were 13. North Shore Port Moody with 9 sales was the hottest market for sales.

It’s a seller’s market for all product types.

MarketHotSheet_May2017_PortMoody

Looking for more information about the real estate market in specific neighbourhoods in the Coquitlam, Port Coquitlam, and Port Moody

Macdonald Realty has offices in Coquitlam and across the Greater Vancouver.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

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MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgvkv.org