Tri Cities Real Estate Market Statistics – August 2017

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

Coquitlam

In the Coquitlam market, there were 85 sales and 412 active listings for detached homes at the end of the month. The benchmark sale price was $1,279,200, and the average days on market were 34. Central Coquitlam with 19 sales experienced the most sales activity.

The condo market had 126 sales and 149 active listings. The benchmark sale price was $476,900 with 15 average days on market. The hottest market for sales was North Coquitlam, 46 sales.

Townhome featured 34 sales and 62 active listings. The benchmark sales price was $640,300 with an average days on market of 15. Burke Mountain with 11 sales had the most sales activity.

It’s a seller’s market for condos and townhomes.

MarketHotSheet_August2017_Coquitlam

Port Coquitlam

The Port Coquitlam had 48 sales and 117 active listings for detached homes. The benchmark sale price was $1,002,900 with an average days on market of 21. Glenwood PQ and Oxford Heights, with 7 sales each, experienced the most sales activities of the month.

Condo featured 45 sales, 50 active listings, a $412,200 benchmark sales price, and 12 average days on market. Central Pt Coquitlam had the most sales activity at 32.

In comparison, townhome had 18 sales and 38 active listings. The benchmark sales price was $642,800 with an average days on market of 23. Riverwood was the hottest market with 6 sales.

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

MarketHotSheet_August2017_PortCoquitlam

Port Moody

There were 13 sales and 92 active listings for detached homes in the Port Moody market. The benchmark sale price was $1,491,300, and the average days on market were 50. College Park PM and Heritage Woods PM with 3 sales each had the most sales activities.

The condo market featured 33 sales, 30 active listings, $580,700 benchmark sale price, and 17 average days on market. Port Moody Centre, 22 sales, had most sales activity.

In comparison, townhome sales were 19, active listings were 16 and the benchmark sale price was $608,700. The average days on market were 15. North Shore Pt Moody and Port Moody Centre, with 5 sales each, were the hottest markets for sales.

It’s a seller’s market for condos and townhomes.

MarketHotSheet_August2017_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