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Coquitlam RE/MAX Market Reports

How will the BC Election change future home prices and your income? How many cities have had price increases in the last month?

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Price Reductions Work! In April, in the Vancouver area, 49% of the single family home sales over 30 Days On Market REDUCED their list price by $49,000 (median)
At the same time 48% of the April single family sales in FV/Chilliwack that were over 30 DOM REDUCED their list price by $20,000 (median)
Note: 66% of the listings now expiring have no price reduction at all! Last year 63.5% of the listing expired! All that time, money and future client lifetime value is GONE!

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Index Abbotsford Burnaby North Burnaby Chilliwack Coquitlam North Delta Delta Ladner Langley N. Langley Maple Ridge Mission New West Port Coquitlam Port Moody Richmond Surrey West Surrey East South Surrey White Rock Vancouver Westside Downtown-West End East Vancouver West Van North Van

Coquitlam May 1, 2013

Current: Coquitlam's 16 %SOLD rate indicates a Stable Market. (This means 16 homes out of 100 sold in Apr with an average $12,900 sales discount from the original list price) but do check the many micro-markets %SOLD rates for each neighbourhood.

Most Active Range: Homes between $600,000-$700,000 have a 22 %SOLD rate.
Least Active Range: Homes above $1.25 million are in a slow market with a low 8 %SOLD rate.

History: Coquitlam RMR Home Price Index* shows that prices decreased $14,986 in 2012.
*The RMR HPI (Home Price Index) is an approximate reflection of the Average Home Price Changes.

Future: Coquitlam has high Listing supply; 525 homes are for sale and with the low 16 %SOLD monthly rate gives us a ~6 months of inventory. At this sell through rate approximately 339 of these listings will not sell. Currently 26% of the active listings have reduced their price by $41,599 on average or 30,000 median. The Spring Fever and the Election Resolve should inspire a new buyers confidence. Buyers are expected to be out in full force taking advantage of our great market incentives with these lower costs of ownership.

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These Re/MAX Market Share Reports are sponsored by the Canada's Most Referred Referral Network! we thank them for their support and please refer to them in your appreciation.

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NOTE: This representation is based in whole or in part on data generated by the Real Estate Boards of Greater Vancouver, Fraser Valley, Chilliwack which assume no responsibility for its accuracy.

We thank Team Phil Haig for their support of these Coquitlam Real Estate Market Updates which include sub-areas such as Coquitlam West, Maillardville, Westwood Plateau, Burke Mountain, Central Coquitlam etc. Contact Phil and the Team as the Local Experts.... more details.

Download the full Coquitlam.Marketupdatereport.PDF

This Coquitlam Real Estate Market update includes the sub areas Westwood Plateau, Coquitlam West, Burke Mountain, Central Coquitlam, Maillardville etc.

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