{"id":1049,"date":"2023-06-16T07:00:00","date_gmt":"2023-06-16T14:00:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/pricing-increase-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-poco-port-coquitlam-sellers-market-sales-demand-supply-royal-lepage-rental-income-1\/"},"modified":"2026-04-08T09:23:27","modified_gmt":"2026-04-08T16:23:27","slug":"pricing-increase-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-poco-port-coquitlam-sellers-market-sales-demand-supply-royal-lepage-rental-income-1","status":"publish","type":"post","link":"https:\/\/www.rodrhearyan.com\/blog\/pricing-increase-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-poco-port-coquitlam-sellers-market-sales-demand-supply-royal-lepage-rental-income-1\/","title":{"rendered":"Port Coquitlam Sales May 2023 vs 2022 &#8211; Detached Homes Push Forward"},"content":{"rendered":"<p><strong>Looking for an accurate picture of where the real estate market is headed?<\/strong><\/p>\n<p>&nbsp; Today we dive in and take a deeper look at the Coquitlam market as a whole:<\/p>\n<ul>\n<li>A full overview &amp; an in depth look at detached homes and townhouses. Both focusing on:<\/li>\n<\/ul>\n<ol start=\"1\">\n<ol start=\"1\">\n<li>How statistics stack up to the previous month&#8217;s activity.<\/li>\n<li>Where we are standing compared to the same time period in 2022.<\/li>\n<li>Larger market trends.<\/li>\n<\/ol>\n<\/ol>\n<p>&nbsp;<\/p>\n<p align=\"center\"><strong>Port Coquitlam Benchmark Price Overview:<\/strong><\/p>\n<p align=\"center\">May 2023 marked the fourth consecutive month that all three areas of the market have a lower benchmark price than the previous year.&nbsp; <br \/><strong><span style=\"text-decoration: underline;\"> However, May also marked the fourth consecutive month that all three segments of the market have shown month over month pricing increases.<\/span> <\/strong><\/p>\n<p align=\"center\">Condos are now only 3.9% below May 2022 prices, and townhomes are 8.7% below the previous year.<span style=\"text-decoration: underline;\"><br \/> <\/span>Detached homes are 8.3% below May 2022 prices which is a 3.7% improvement over the gap between April 2023 &amp; 2022.<\/p>\n<p align=\"center\">The year-over-year gap for detached homes is now under $130,000. In March 2023 the gap betwen March 2022&#8217;s benchmark price was over $250,000. l <span style=\"text-decoration: underline;\"><br \/> <\/span>That is an improvement of well over $170,000 in just over two months. <span style=\"text-decoration: underline;\"><br \/> <\/span><\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\"><strong>Overall Supply Update:<\/strong><\/p>\n<p align=\"center\">&nbsp;<br \/> Compared to the same time last year supply has decreased across the board:<br \/> Detached: -40.3%<br \/> Condo: -29.5% <br \/> Townhomes: -53.3%<\/p>\n<p> When May 2023 supply is compared to April 2023:<br \/> Detached: 14 more listing than in April<br \/> Condo: 11 less listings than in April<br \/> Townhouse: 6 more listings than in April<\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\"><strong>Overall Sales Update:<\/strong><\/p>\n<p align=\"center\"> Compared to the same time last year sales are varied:<br \/> Detached: +14.8%<br \/> Condo: -9.1% <br \/> Townhomes: +11.8%<\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\">Compared to April 2023 sales maintained. With only detached homes seeing a dramatic change:<br \/> Detached:11 more sales than April (an increase of nearly 60%)<br \/> Condo: 1 less sales than April<br \/> Townhouse: 4 more sales than April<\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\"><strong>Detached Market Update:<\/strong><\/p>\n<p align=\"center\"><strong>May marks the fifth consecutive time that prices for detached homes have increased month-over-month. <br \/><\/strong><\/p>\n<p align=\"center\"><span style=\"text-decoration: underline;\">Prices increases have now persisted for over 1\/3 of 2023; a new market pattern of detached home pricing increases has arrived.<br \/><\/span><\/p>\n<p align=\"center\">The main question is now&#8230;what will the summer month&#8217;s bring? Traditionally the market slows dramatically&#8230;but will 2023&#8217;s market stick to a traditional cycle?<span style=\"text-decoration: underline;\"> <br \/><\/span><\/p>\n<p align=\"center\">In the last 30 days the benchmark price has increased $37,800.<br \/> In the last 60 days the benchmark price for detached homes has increased $81,800. <strong><span style=\"text-decoration: underline;\"><br \/><\/span><\/strong>May marks the third month of large prices increases. Prior to March changes in price were more incremental.<\/p>\n<p align=\"center\"><strong><span style=\"text-decoration: underline;\">Detached Home Benchmark Pricing:<\/span><\/strong><\/p>\n<p align=\"center\"> September: $1,314,200<strong><span style=\"text-decoration: underline;\"><br \/> <\/span><\/strong>October: $1,313,100<strong><span style=\"text-decoration: underline;\"> <br \/> <\/span><\/strong>November: $1,282,600<span style=\"text-decoration: underline;\"> <br \/> <\/span>December: $1,277,000<span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"> <br \/><\/span><\/span>January: $1,279,200<span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"> <br \/><\/span><\/span><\/span><\/span><strong>February: $1,282,000 <span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><br \/><\/span><\/span><\/strong>March: $1,310,300<span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"> <br \/><\/span><\/span><\/span><\/span>April: $1,339,000&nbsp; <strong><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><br \/><\/span><\/span><\/span><\/span><strong>May: $1,392,100<\/strong><\/strong><br \/> <span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><br \/> <\/span><\/span><strong><span style=\"text-decoration: underline;\"><br \/> <\/span><\/strong><\/p>\n<p align=\"center\"><strong>Townhouse Market Update:<\/strong><\/p>\n<p align=\"center\"><span style=\"text-decoration: underline;\">The benchmark price for a townhome is $88,300 lower than the same time last year.<\/span><br \/> In the last 30 days the benchmark price has increased $19,700.<br \/> In the last 60 days the benchmark price for townhouses has increased $27,300. <strong><span style=\"text-decoration: underline;\"><br \/><\/span><\/strong>.<span style=\"text-decoration: underline;\"> <strong><span style=\"text-decoration: underline;\"><br \/><\/span><\/strong><strong><br \/> <\/strong><\/span><\/p>\n<p align=\"center\">While May marks the sixth consecutive month that townhomes have seen a pricing increase; May is the first month that has seen townhouse&#8217;s experience a sizable pricing increase. Prior to may increases had been marginal. Now that the benchmark price has once again broken $900,000 the main question is will it once again reach $1,000,000 as it did at the market&#8217;s peak.<\/p>\n<p align=\"center\"><strong><span style=\"text-decoration: underline;\">Townhouse Benchmark Pricing:<\/span><\/strong><\/p>\n<p align=\"center\">&nbsp;<br \/> December: $870,000<br \/> January: $879,100 <br \/> February: $884,700<br \/> March: $898,400 <br \/> April: $901,600<br \/> May : $928,900<\/p>\n<p align=\"center\"><strong><span style=\"text-decoration: underline;\">SNAPSHOT:<\/span><\/strong><\/p>\n<p align=\"center\"><strong>May was a strong month for the market.<\/strong><\/p>\n<p align=\"center\"><strong>Month over month the market continues to improve in 2023,&nbsp; &amp; detached homes lead the way in terms of pricing increases.<\/strong><\/p>\n<p align=\"center\"><strong>Market pricing remains down year-over-year.<br \/><\/strong><\/p>\n<p><strong><img decoding=\"async\" title=\"Port Coquitlam May Market Update\" src=\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/poco_market.jpg\" alt=\"Port Coquitlam May Market Update\" \/> <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Looking for an accurate picture of where the real estate market is headed? &nbsp; Today we dive in and take a deeper look at the Coquitlam &hellip;<\/p>\n","protected":false},"author":2,"featured_media":2300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-1049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"Looking for an accurate picture of where the real estate market is headed? 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