Current: Coquitlam's 7 %SOLD Rate indicates a Buyer Market.
(This means 7 homes out of 100 sold last month with an Average $48,200 Discount from the Original List Price) but do check the many micro-markets
7 %SOLD rates for each neighbourhood.
Most Active Range: Homes below $1 mil. have a 19.4 %SOLD rate.
Least Active Range: Homes above $2 mill. have 1.5 %SOLD rate.
History: The Coquitlam Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $76,000.
The Coquitlam Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $3,842.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Coquitlam has a normal Listing supply; 475 homes are for sale. With the 8 %SOLD Monthly Rate (STR) gives us ~14 months of inventory. 15% of the Active Listings have reduced their price by $73,451 on Average or $54,350 Median. We project Coquitlam Detached to be a Buyer Market.
October's Real Estate Statistics show our Markets have started to Stablize with 48% of Vancouver's Detached Markets increasing values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $7,184, which is less than the $9,914 decrease that we saw in the month prior. On Average, Out in the Fraser Valley, the Markets decreased $4,586 this month. Consumer confidence has been boosted with our new NAFTA-USMCA trade agreement but offset with the continued tougher mortgage lending rules and interest rate increases. We are still forecasting a Stable Market across most Detached Markets for the following month.
Currently, the Condo Market continues to present a Cool Market with 63% of the Greater Vancouver (Lower Mainland) now decreasing. At the same time, 61% of the Townhouse Markets are decreasing (11 out of 28 Markets). We are still forecasting a Buyer’s Market in all Condo/Townhouse Markets for the foreseeable future. We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. 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.