Inventory climbs as buyers regain leverage across the Tri-Cities
The Tri Cities are an informal grouping of the three adjacent cities of Coquitlam, Port Coquitlam, and Port Moody. The Tri Cities also includes the two villages of Anmore and Belcarra. The entire area is located in the northeast sector of Metro Vancouver, and combined, these five communities have a population of roughly 234,000 residents. With vibrant culture, abundant natural beauty, a central location, and a drive to continually evolve and elevate…it is a fantastic place to look for a home.
All statistics below were gathered on July 23rd and compared with May 6th meaning the findings represent the markets overall shift in the last 78 days.
Click Here for May 6th compared with February 24th
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Number of detached listings;
- Port Coquitlam: 177 (up 18)
- Coquitlam: 457 (up 19)
- Port Moody: 142(up 14)
Summary:
- At this point it is an expected story, but oversupply remains as new homes continue to come to market.
- Although the rate of increase has slowed down new listing continue to mount and during summer with fewer active buyers it is extremely easy for supply to balloon.
- The hope would be that buyers return as we head into September while the rate of new listings remains lower. However, that is an ideal scenario that is unlikely to perfectly play out.
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List Price:
Port Coquitlam:
- High – $4,100,000 (10 acres)
- Low – $800,000
- Average -$1,493,342 (down $29,197)
- Median – $1,388,000 (down $60,000)
Coquitlam:
- High – $7,600,000 (development potential by Coq Centre)
- Low – $949,000
- Average -$2,107,868 (down $86,143)
- Median – $1,799,900 (down $198,100) –only the second time one of our updates has recorded a sub 2M median. And this is a new low.
Port Moody:
- High – $12,750,000 (over 10,000 sqft home on an acre)
- Low – $1,149,900
- Average -$2,689,235 (up $73,348) — 22 (up 9) luxury properties over 4 million
- Median – $2,093,500 (down $100,900)
Summary:
- As of now, it appears that the 2026 market peak was in February/March. Since then, prices have largely trended downwards as competition to sell remains heightened.
- Port Coquitlam was the only city not to see a six figure median price decline, but it is also the city with the lowest median price to begin with so it has less room to drop.
- Across all three cities the median price adjusted downwards between 4.3% and 11%.
- Coquitlam took the biggest hit as it also recorded a new low over the multi year period of our updates. This is likely because its supply is over 2.5 times higher than anywhere else in the Tri City area giving buyers an extreme number of options.
- Port Moody saw a massive influx in luxury listings over four million including a nearly $13,000,000 property. Even with that surge the median still dropped $100,000. If you remove the higher end of the market this likely indicates that the more traditional sub $2,000,000 side of the market took an even larger hit that is currently statistically showing as the luxury listings are acting as an inflated cushion.
- Slower activity in the summer months and inflated supply are forcing those who want to sell in a timely manner to lower their prices which in turn sets a new standard for everyone else.
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Days on Market:
Port Coquitlam:
- High – 1367 (the acreage)
- Low -1
- Average – 72
- Median – 51 (up 16)
Coquitlam:
- High – 1939
- Low – 1
- Average – 113
- Median – 59 (up 10)
Port Moody:
- High – 525
- Low – 1
- Average – 73
- Median – 53 (up 3)
Summary:
- Summer has flipped the script after 8 months of days on market slowly declining. Across the Tri Cities median days on market are up. But that isn’t surprising for July.
- The average detached listing in the Tri Cities has now been sitting on the market for over 12 weeks. This primes the market for further price reductions.
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Overview:
From spring momentum to a summer slowdown — the Tri-City detached market has shifted again over the past 78 days. Inventory continues to grow, buyer activity has softened seasonally, and sellers are facing increasingly competitive conditions.
Inventory keeps climbing
Oversupply remains the defining trend, with detached inventory increasing across Port Coquitlam, Coquitlam, and Port Moody. While the pace of growth has slowed, new listings continue to outpace buyer demand. The hope is that buyers return this fall before inventory builds even further.
Prices continue adjusting
If February and March marked the market peak for 2026, prices have largely trended downward since. Median detached prices fell across all three cities, with Coquitlam recording a new multi-year low as its abundant inventory gives buyers exceptional choice. Port Moody’s median also dropped despite a surge in luxury listings, suggesting the broader market is under even greater pressure. Port Coquitlam remained the most resilient but still saw prices soften.
Selling takes longer
After eight months of improving conditions, summer has reversed the trend. Days on market have increased across the Tri-Cities, with the average detached listing now sitting unsold for more than 12 weeks. Longer selling times are creating additional pressure for sellers to price competitively.
Waiting for fall
Higher inventory, softer prices, and slower sales continue to favour buyers. The next phase of the market will depend on whether buyer activity returns after summer or inventory continues to build into the fall.
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