{"id":1171,"date":"2022-11-18T07:00:00","date_gmt":"2022-11-18T15:00:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-poco-port-coquitlam-buyer-sales-demand-supply-decrease-prices-offer-royal-lepage-interest-rates-bank-mortgage-townhouse-ensuite-bedroom-yard\/"},"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-sales-demand-supply-decrease-prices-offer-royal-lepage-interest-rates-bank-mortgage-townhouse-ensuite-bedroom-yard","status":"publish","type":"post","link":"https:\/\/www.rodrhearyan.com\/blog\/mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-poco-port-coquitlam-buyer-sales-demand-supply-decrease-prices-offer-royal-lepage-interest-rates-bank-mortgage-townhouse-ensuite-bedroom-yard\/","title":{"rendered":"Port Coquitlam Sales October 2022 vs 2021&#8211;A Slow Market Closes in on 2021 Pricing"},"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 Market Update Overview:<\/strong><\/h2>\n<p style=\"text-align: center;\">Benchmark prices are up across the board in Port Coquitlam between 2.9-10.9% over thier 2021 counterparts.<br \/><span style=\"text-decoration: underline;\">Despite the market downturn the market remains at a higher pricepoint than the same time last year.<\/span><\/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: +19%<br \/>Condo: +7.1% <br \/>Townhomes: +164.3%<\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">As a new market pattern begins to emerge supply will increase as sellers who held off during the summer become active before the holiday season. <\/span><\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<pre style=\"text-align: center;\">However, when you compare supply to September 2022 there has been more of a shakeup in available <br \/>properties.<br \/><br \/>When compared to September 2022:<br \/>Detached: 15 less listings than in September<br \/>Condo: 9 less listings than in September<br \/>Townhouse: 2 more listings than in September<\/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 decreased across the board:<br \/>Detached: -40.5%<br \/>Condo: -44% <br \/>Townhomes: -60%<\/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;\">The townhouse market was hit especially hard in October with a massve influx of listings compared to October 2021 and a considerable drop in sales.<span style=\"text-decoration: underline;\"><br \/><\/span><\/p>\n<p style=\"text-align: center;\">Sales increased month-over-month when compared to September 2022: <br \/>Detached: 6 more sales than September<br \/>Condo: 6 more sales than September<br \/>Townhouse: 2 more sales than September<\/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;\">October marks the seventh consecutive month that detached home&#8217;s benchmark pricing has fallen.<strong><br \/><\/strong><\/span><br \/>The rate of pricing decline continues to slow each month.<br \/> The benchmark price for detached homes fell only $1,100 in the last 30 days:<\/p>\n<p style=\"text-align: center;\">Over $12,000 less than the previous monthly decline &amp; over $66,000 less than the month before.<\/p>\n<p> The October benchmark for detached homes was $36,700 higher than its 2021 counterpart. <strong><br \/><\/strong>The question now is&#8230;will the benchmark price dip below 2021?<\/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;\"><br \/><\/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 $51,500 higher than the same time last year.<strong><br \/><\/strong><\/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 \/><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;\">Sales slowly increasing. Supply remains high. Buyers Market<br \/><\/span><\/h2>\n<p><span style=\"font-size: 12px;\"><img decoding=\"async\" src=\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/poco_27.jpg\" alt=\"poco 27\" \/> <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":2346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1171","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\/1171","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=1171"}],"version-history":[{"count":1,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1171\/revisions"}],"predecessor-version":[{"id":2987,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1171\/revisions\/2987"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media\/2346"}],"wp:attachment":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media?parent=1171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/categories?post=1171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/tags?post=1171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}