{"id":1147,"date":"2023-01-13T07:00:00","date_gmt":"2023-01-13T15:00:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-poco-port-coquitlam-buyer-market-sales-demand-supply-decrease-prices-deal-bargain-royal-lepage-interest-rates-bank-mortgage-townhouse-ensuit\/"},"modified":"2026-04-08T09:23:31","modified_gmt":"2026-04-08T16:23:31","slug":"mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-poco-port-coquitlam-buyer-market-sales-demand-supply-decrease-prices-deal-bargain-royal-lepage-interest-rates-bank-mortgage-townhouse-ensuit","status":"publish","type":"post","link":"https:\/\/www.rodrhearyan.com\/blog\/mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-poco-port-coquitlam-buyer-market-sales-demand-supply-decrease-prices-deal-bargain-royal-lepage-interest-rates-bank-mortgage-townhouse-ensuit\/","title":{"rendered":"Port Coquitlam Sales December 2022 vs 2021 &#8211;A slow end to a downward trending year."},"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 2021.<\/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 5.2% above December 2021.<\/p>\n<p align=\"center\">Townhomes are now 1.2% below December 2021 prices.<span style=\"text-decoration: underline;\"> <br \/> <\/span>Last month detached homes lagged behind November 2021 prices by 2.6%. This month prices have dropped to 5.8% below December 2021 increasing the pricing gap.<\/p>\n<p align=\"center\"> Townhouse prices are nearly identical to the January 2021 benchmark. December&#8217;s benchmark was only $100 higher.<br \/> January 2020 was the last time that townhomes&#8217; benchmark price was lower than the previous years.<\/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: +80.6%<br \/> Condo: +150% <br \/> Townhomes: +400%<\/p>\n<p align=\"center\"><span style=\"text-decoration: underline;\">This style of supply increase is not standard for the time of year, &amp; some sellers may be trying to sell before price drop further.<\/span><\/p>\n<p align=\"center\">However, when you compare supply to November 2022 there has been a sizable decrease in options for buyers.<\/p>\n<p> When compared to October 2022:<br \/> Detached: 29 less isting than in November<br \/> Condo: 21 less listings than in November<br \/> Townhouse: 11 less listings than in November<\/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 takem a steep tumble across the board:<br \/> Detached: -61.5%<br \/> Condo: -58.5% <br \/> Townhomes: -59.1%<\/p>\n<p align=\"center\"><span style=\"text-decoration: underline;\">Despite skyrocketing supply the market remains slow in terms of sales as buyers continue to look for a &#8216;deal&#8217;.<\/span><\/p>\n<p align=\"center\">Compared to November 2022 sales stayed fairly even: <br \/> Detached: 1 less sale than November<br \/> Condo: 1 more sale than November<br \/> Townhouse: 2 more sales than November<\/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;\">November marks the 9th consecutive month that detached home&#8217;s benchmark pricing has fallen.<strong><br \/> <\/strong><\/span><br \/> In the last 30 days between statistics collection the benchmark price only fell $5600.<br \/> In the previous 30-days (November-October) the benchmark price fell $30,500.<\/p>\n<p> <span style=\"text-decoration: underline;\">The December benchmark for detached homes was $78,700 lower than its 2021 counterpart. <strong><\/p>\n<p> <\/strong><\/span><\/p>\n<p align=\"center\">The questions is now if the gap will continue to increase and reach $100,000 below the previous year&#8217;s price.<span style=\"text-decoration: underline;\"><\/p>\n<p> <\/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;\"><br \/> <\/span><strong><span style=\"text-decoration: underline;\"><\/p>\n<p> <\/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 $10,700 lower than the same time last year, but $1000 higher than November 2022.<strong><\/p>\n<p> <\/strong><\/span><\/p>\n<p align=\"center\">After seeing a decrease in November the benchmark price has once again increased month-over-month just has it has in September.<\/p>\n<p> 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<\/p>\n<p align=\"center\"><strong><span style=\"text-decoration: underline;\">SNAPSHOT:<\/span><\/strong><\/p>\n<p align=\"center\"><strong>A Slow end to a downward trending year. <\/strong><\/p>\n<p align=\"center\"><strong>Supply surge compared 2021. Prices below same time in 2021. Buyers Market<\/strong><\/p>\n<p align=\"center\"><strong><img decoding=\"async\" src=\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/poco_29.jpg\" alt=\"poco 29\" \/> <\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12px;\"><br \/> <\/span><\/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":2339,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-1147","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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