{"id":1158,"date":"2022-12-16T07:00:00","date_gmt":"2022-12-16T15:00:00","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-ensu-2\/"},"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-ensu-2","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-ensu-2\/","title":{"rendered":"Port Coquitlam Sales November 2022 vs 2021&#8211; Detached Homes Pricing Down Year-Over-Year"},"content":{"rendered":"<h2 style=\"text-align: left;\"><strong>Looking for an accurate picture of where the real estate market is headed?<\/strong><\/h2>\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>\n<ol>\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 style=\"text-align: left;\">&nbsp;<\/p>\n<h2 style=\"text-align: center;\"><strong>Port Coquitlam Benchmark Price Overview:<\/strong><\/h2>\n<p style=\"text-align: center;\">Benchmark prices are up for townhomes and condos 8.5% &amp; 2.4%&nbsp; over thier 2021 counterparts.<\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">Detached homes are now 2.6% below November 2021 prices.<\/span> <br \/>You have to go back to September 2021 for Novembers benchmark price to be comparatively ahead which means detached homes are at their lowest benchmark in 14 months. <br \/>November 2019 was the last time that detached homes benchmark price was lower than the previous years<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<h2 style=\"text-align: center;\"><strong>Overall Supply Update:<\/strong><\/h2>\n<p style=\"text-align: center;\">&nbsp;<br \/>Compared to the same time last year supply has risen across the board:<br \/>Detached: +45.5%<br \/>Condo: +33.3% <br \/>Townhomes: +128.6%<\/p>\n<p style=\"text-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 style=\"text-align: center;\">&nbsp;Although supply will likely decrease throughout December.<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<pre style=\"text-align: center;\">However, when you compare supply to October 2022 there has been more of a shakeup in available <br \/>properties.<br \/><br \/>When compared to October 2022:<br \/>Detached: 1 more listing than in October<br \/>Condo: 9 less listings than in October<br \/>Townhouse: 7 less listings than in October<\/pre>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">&nbsp;<\/span><\/p>\n<h3 style=\"text-align: center;\"><strong>Overall Sales Update:<\/strong><\/h3>\n<p style=\"text-align: center;\">Compared to the same time last year sales have takem a steep tumble across the board:<br \/>Detached: -67.6%<br \/>Condo: -67.2% <br \/>Townhomes: -68.2%<\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">Despite a much higher supply than 2021 the market remains slow in terms of sales as buyers continue to look for a &#8216;deal&#8217;.<\/span><\/p>\n<p style=\"text-align: center;\">For the second month in a row the townhouse market was hit especially hard with a massve influx in listings compared to November 2021 and a considerable drop in sales.<span style=\"text-decoration: underline;\"><br \/><\/span><\/p>\n<p style=\"text-align: center;\">Compared to October 2022 sales varied, but were largley trending downwards: <br \/>Detached: 1 more sale than October<br \/>Condo: 7 less sales than October<br \/>Townhouse: 7 less sales than October<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<h3 style=\"text-align: center;\"><strong>Detached Market Update:<\/strong><\/h3>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">November marks the 8th consecutive month that detached home&#8217;s benchmark pricing has fallen.<strong><br \/><\/strong><\/span><br \/>As sales slow moving towards the holiday season the rate of pricing decline has once again increased after slowing for two consecutive months.<br \/> September-October the benchmark price fell only $1,100. <br \/>In the last 30-days the benchmark price fell $30,500.<\/p>\n<p><span style=\"text-decoration: underline;\"> The November benchmark for detached homes was $33,600 lower than its 2021 counterpart. <strong><br \/><\/strong><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>Detached Home Benchmark Pricing:<\/strong><\/span><\/p>\n<p style=\"text-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;\"><strong><span style=\"text-decoration: underline;\"> <strong><span style=\"text-decoration: underline;\"><br \/><\/span><\/strong><\/span><\/strong><\/span><\/strong>November: $1,282,600<strong><span style=\"text-decoration: underline;\"><strong><span style=\"text-decoration: underline;\"><strong><span style=\"text-decoration: underline;\"><strong><span style=\"text-decoration: underline;\"><br \/><\/span><\/strong><\/span><\/strong><\/span><\/strong><\/span><\/strong><span style=\"font-size: 12px;\"><strong><span style=\"text-decoration: underline;\"><br \/><\/span><\/strong><\/span><\/p>\n<h3 style=\"text-align: center;\"><strong>Townhouse Market Update:<\/strong><\/h3>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">The benchmark price for a townhome is $20,100 higher than the same time last year.<strong><br \/><\/strong><\/span><\/p>\n<p style=\"text-align: center;\">The question now is, will the benchmark price for townhomes drop below their 2021 counterparts like detached homes?<span style=\"text-decoration: underline;\"><br \/><\/span><\/p>\n<pre style=\"text-align: center;\">After last months increase the benchmark price is once again on its way down dipping in to the $800,000s for <br \/>the first time since January.<br \/><br \/>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 \/><br \/><br \/><br \/><\/pre>\n<h2 style=\"text-align: center;\"><span style=\"text-decoration: underline;\">SNAPSHOT:<\/span><\/h2>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 12px;\">Detached homes hit 14 month low. Sales &amp; supply down month over month. Buyers Market<\/span><\/h2>\n<p><span style=\"font-size: 12px;\"><img decoding=\"async\" src=\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/poco_28.jpg\" alt=\"poco 28\" \/> <\/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":2343,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1158","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\/1158","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=1158"}],"version-history":[{"count":1,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1158\/revisions"}],"predecessor-version":[{"id":2977,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1158\/revisions\/2977"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media\/2343"}],"wp:attachment":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media?parent=1158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/categories?post=1158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/tags?post=1158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}