{"id":1114,"date":"2023-03-17T07:00:00","date_gmt":"2023-03-17T14:00:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/pricing-increase-2023-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-poco-port-coquitlam-buyers-market-sales-demand-supply-royal-lepage-mortgage-rental-income-townhouse\/"},"modified":"2026-04-08T09:23:30","modified_gmt":"2026-04-08T16:23:30","slug":"pricing-increase-2023-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-poco-port-coquitlam-buyers-market-sales-demand-supply-royal-lepage-mortgage-rental-income-townhouse","status":"publish","type":"post","link":"https:\/\/www.rodrhearyan.com\/blog\/pricing-increase-2023-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-poco-port-coquitlam-buyers-market-sales-demand-supply-royal-lepage-mortgage-rental-income-townhouse\/","title":{"rendered":"Port Coquitlam Sales February 2023 vs 2022 &#8211; Positive Signs Of Growth"},"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\">February 2023 marks the first month that all three areas of the markher have a lower benchmark price than the previous year.&nbsp; <br \/><strong><span style=\"text-decoration: underline;\"> However, all three segments of the market have also shown a month over month pricing increase when compared to January 2023.<\/span> <\/strong><\/p>\n<p align=\"center\">Condos are now 1.4% below February 2022 prices, and townhomes are 7.5% below the previous year.<span style=\"text-decoration: underline;\"><br \/> <\/span>Detached homes are now a substantial 16.2% below February 2022 which equates to a $247,800 pricing decrease in the last 12 months.<\/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 risen across the board:<br \/> Detached: +%31.3<br \/> Condo: +33.3% <br \/> Townhomes: +7.7%<\/p>\n<p align=\"center\">When you compare supply to January 2023 there has been a much smaller shift in the markets supply:<\/p>\n<p> When compared to January 2023:<br \/> Detached: 9 more listing than in January<br \/> Condo: 3 more listings than in January<br \/> Townhouse: 11 less listings than in January<\/p>\n<p align=\"center\"><span style=\"text-decoration: underline;\">&nbsp;<\/span><\/p>\n<p align=\"center\"><strong>Overall Sales Update:<\/strong><\/p>\n<p align=\"center\"> Compared to the same time last year sales have taken a steep tumble across the board:<br \/> Detached: -73.8%<br \/> Condo: -68.8% <br \/> Townhomes: -31.6%<\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\">Compared to January 2023 sales maintained. They have fluctuated, but with no dramatic changes:<br \/> Detached: 2 less sales than January<br \/> Condo: 2 more sales than January<br \/> Townhouse: 4 more sales than January<\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\"><strong>Detached Market Update:<\/strong><\/p>\n<p align=\"center\"><strong>February marks the second&nbsp;consecutive time in 10 months that prices for detached homes have increased month-over-month.<\/strong><\/p>\n<p align=\"center\"><span style=\"text-decoration: underline;\">The question is now&#8230;is a new pattern of market increase emerging as we move towards spring?<br \/><\/span><\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\">Between December 2022 and January 2023 the benchmark increased $2200. <br \/>In the last 30 days the benchmark price has increased $2800.<br \/> In the last 60 days the benchmark price for detached homes has increased $5000. <strong><span style=\"text-decoration: underline;\"><br \/> <\/span><\/strong>While this improvement is marginal it is a positive for the market to begin 2023.<\/p>\n<p align=\"center\">While January marked the first time that the gap in price, when compared to the previous year, broke $100,000. Febuary marked the first time the same price gap broke $200,000<span style=\"text-decoration: underline;\"><br \/> <\/span><\/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>February: $1,282,000<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 $72,100 lower than the same time last year, but $5600 higher than January 2022.<strong><\/p>\n<p> <\/strong><\/span><\/p>\n<p align=\"center\">Febuary marks the third consecutive month that townhomes have seen a pricing increase; potentially indicating that the townhouse market has reached its low point and is ready to balance out and stabilize.<\/p>\n<p align=\"center\"><strong><span style=\"text-decoration: underline;\">Townhouse Benchmark Pricing:<\/span><\/strong><\/p>\n<p align=\"center\"> September: $910,400<br \/> October: $892,300 <br \/> November: $869,000 <br \/> December: $870,000<br \/> January: $879,100 <br \/> February: $884,700<\/p>\n<p align=\"center\"><strong><span style=\"text-decoration: underline;\">SNAPSHOT:<\/span><\/strong><\/p>\n<p align=\"center\"><strong>Month over month the market continues to improve in 2023, while still being down year-over-year<br \/><\/strong><\/p>\n<p align=\"center\"><strong>Days on market are steadly dropping as the market picks up speed.<\/strong><\/p>\n<p align=\"center\"><strong> Supply &amp; sales remains steady. <br \/><\/strong><\/p>\n<p align=\"center\"><strong>&nbsp;<img decoding=\"async\" src=\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/poco_31.jpg\" alt=\"poco 31\" \/> <\/strong><\/p>\n<p align=\"center\"><strong><br \/> <\/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":2327,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-1114","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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