Tri Cities Real Estate Market Statistics – October 2017

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

Coquitlam

In the Coquitlam market, there were 89 sales and 447 active listings for detached homes at the end of the month. The benchmark sale price was $1,277,400, and the average days on market were 29. Central Coquitlam with 19 sales experienced the most sales activity.

The condo market had 116 sales and 152 active listings. The benchmark sale price was $486,700 with 17 average days on market. The hottest market for sales was North Coquitlam, 44 sales.

Townhome featured 37 sales and 65 active listings. The benchmark sales price was $650,600 with an average days on market of 23. Burke Mountain and Millardville, with 10 sales each, had the most sales activities.

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

MarketHotSheet_October2017_Coquitlam

Port Coquitlam

The Port Coquitlam had 31 sales and 100 active listings for detached homes. The benchmark sale price was $994,600 with an average days on market of 25. Oxford Heights with 9 sales experienced the most sales activity of the month.

Condo featured 66 sales, 39 active listings, a $418,200 benchmark sales price, and 14 average days on market. Central Pt Coquitlam had the most sales activity at 52.

In comparison, townhome had 21 sales and 31 active listings. The benchmark sales price was $643,300 with an average days on market of 19. Riverwood was the hottest market with 11 sales.

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

MarketHotSheet_October2017_PortCoquitlam

Port Moody

There were 22 sales and 93 active listings for detached homes in the Port Moody market. The benchmark sale price was $1,509,100, and the average days on market were 39. Heritage Woods PM with 6 sales each had the most sales activity.

The condo market featured 36 sales, 49 active listings, $613,300 benchmark sale price, and 14 average days on market. Port Moody Centre, 33 sales, had most sales activity.

In comparison, townhome sales were 15, active listings were 22 and the benchmark sale price was $606,300. The average days on market were 20. College Park PM, Heritage Mountain, Heritage Woods PM, North Shore Pt Moody, and Port Moody Centre, with 3 sales each, were the hottest markets for sales.

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

MarketHotSheet_October2017_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.

—–

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