Current: Coquitlam's 10 %SOLD Rate indicates a Buyer Market. (This means 10 homes out of 100 sold last month with an Average $55,000 Discount from the Original List Price) but do check the many micro-markets 10 %SOLD rates for each neighbourhood.
Most Active Range: Homes between $1 mil. - $1.2 mill. have a 20.0 %SOLD rate.
Least Active Range: Homes above $2 mill. have 3.5 %SOLD rate.
History: The Coquitlam Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $86,999.
The Coquitlam Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $36,411.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Coquitlam has a normal Listing supply; 483 homes are for sale. With the 10 %SOLD Monthly Rate (STR) gives us ~10 months of inventory. 12% of the Active Listings have reduced their price by $66,246 on Average or $50,000 Median. We project Coquitlam Detached to be a Buyer Market.
June's Real Estate Statistics shows 64% of Vancouver's Detached Markets decreased values this last month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $11,020 which shows an improvement from the significant drop of $16,674 that we saw in the month prior. On Average the Fraser Valley continues to show a further Market decline with their $8,889 monthly decrease from $4,469. With the latest trade tariffs, foreign buyer taxes, higher personal taxes, tough mortgage lending rules and the pending interest rate increase, we are forecasting a Buyer's Market across most Detached Markets.
Currently, the Condo Market is turning from a Hot to a Cooler Market, with 57% of the Greater Vancouver (Lower Mainland) still increasing. At the same time, just 50% of the Townhouse Markets are increasing (17 out of 28 Markets). The "I-Will-Wait" Attitude now outweighs the buyer's emotions of the "Fear-Of-Missing-Out" that we saw in early spring. We are forecasting a Buyers Market in the lower end Condo/Townhouse Markets for the following months. 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 Neighbourhood.