{"id":1127,"date":"2023-02-20T07:00:00","date_gmt":"2023-02-20T15:00:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/pricing-increase-2023-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-poco-port-coquitlam-buyer-market-sales-demand-supply-decrease-royal-lepage-interest-rates-bank-mortgage-rental-townhou\/"},"modified":"2026-04-08T09:23:31","modified_gmt":"2026-04-08T16:23:31","slug":"pricing-increase-2023-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-poco-port-coquitlam-buyer-market-sales-demand-supply-decrease-royal-lepage-interest-rates-bank-mortgage-rental-townhou","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-buyer-market-sales-demand-supply-decrease-royal-lepage-interest-rates-bank-mortgage-rental-townhou\/","title":{"rendered":"Port Coquitlam Sales January 2023 vs 2022 &#8212; Prices Increase Across the Board"},"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\">Condo&#8217;s are now the only bracket of the market to have a benchmark price higher than the same time the previous year.&nbsp; <br \/> The benchmark for condo&#8217;s is 3.3% above January 2022.<\/p>\n<p align=\"center\">Townhomes are now 2.8% below&nbsp;January 2022 prices.<span style=\"text-decoration: underline;\"> <br \/> <\/span>Detached homes are now 11.5% below January 2022 which equates to a $166,8000 pricing decrease in the last 12 months.<\/p>\n<p align=\"center\"><span style=\"text-decoration: underline;\"><strong>Month over month prices are up accross the board in Port Coquitlam.<\/strong><\/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 risen across the board:<br \/> Detached: +%26.3<br \/> Condo: +80.8% <br \/> Townhomes: +214.3%<\/p>\n<p align=\"center\">However, when you compare supply to December 2022 there has been a slight decrease in options for buyers; which is typical for the time of year.<\/p>\n<p> When compared to December 2022:<br \/> Detached: 12 less isting than in December<br \/> Condo: 16 less listings than in December<br \/> Townhouse: 7 less listings than in December<\/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: -56.7%<br \/> Condo: -61.8% <br \/> Townhomes: -35.7%<\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\">Compared to December 2022 sales maintained. They have fluctuated, but with no dramatic changes:<br \/> Detached: 3 more&nbsp; sales than December<br \/> Condo: 7 less sales than December<br \/> Townhouse: the same number of sales as December<\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\"><strong>Detached Market Update:<\/strong><\/p>\n<p align=\"center\"><span style=\"text-decoration: underline;\">From December to January there was a marginal price increase for detached homes. This markes the first time in 10 months that prices for detached homes have increased<\/span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<span style=\"text-decoration: underline;\"> month-over-month.<\/span><\/p>\n<p align=\"center\"> In the last 30 days between statistics collection the benchmark increased $2200.<br \/>Although the increase is small it is a positive way to for the market to begin 2023.<span style=\"text-decoration: underline;\"><strong><\/p>\n<p> <\/strong><\/span><\/p>\n<p align=\"center\">January marks the first time in the current market decline that the gap in price, when compared to the previous year, has broken past&nbsp; $100,000.<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\"> April: $1,538,600<br \/> May: $1,517,700 <br \/> June: $1,427,900<br \/> July: $1,395,500<br \/> August: $1,328,100<br \/> 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;\"><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 $25,600 lower than the same time last year, but $9100 higher than December 2022.<strong><\/p>\n<p> <\/strong><\/span><\/p>\n<p align=\"center\">This is the second 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\"> May: $1,019,000 <br \/> June: $980,300<br \/> July: $915,000<br \/> August: $905,500 <br \/> September: $910,400<br \/> October: $892,300 <br \/> November: $869,000 <br \/> December: $870,000<br \/> January: $879,100<\/p>\n<p align=\"center\"><strong><span style=\"text-decoration: underline;\">SNAPSHOT:<\/span><\/strong><\/p>\n<p align=\"center\"><strong>The market has shown a strong start to 2023.<\/strong><\/p>\n<p align=\"center\"><strong>Prices increase month over month. Sales remains steady. Slight Supply Decrease. <br \/><\/strong><\/p>\n<p align=\"center\"><strong>&nbsp;<\/strong><\/p>\n<p align=\"center\"><strong><img decoding=\"async\" src=\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/poco_2023.jpg\" alt=\"poco 2023\" \/> <\/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":2332,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-area-statistics"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/comments?post=1127"}],"version-history":[{"count":1,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1127\/revisions"}],"predecessor-version":[{"id":2958,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1127\/revisions\/2958"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media\/2332"}],"wp:attachment":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media?parent=1127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/categories?post=1127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/tags?post=1127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}