{"id":1249,"date":"2022-06-13T13:15:00","date_gmt":"2022-06-13T20:15:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/realtor-rod-rhea-ryan-hayes-neighbourhood-coquitlam-sales-stock-supply-decrease-interest-rates-bank-slow-transistion-royal-lepage-2022-family-sellers-asking-price-market-ensuite-bedrooms-kitchen-yard\/"},"modified":"2026-04-08T09:23:33","modified_gmt":"2026-04-08T16:23:33","slug":"realtor-rod-rhea-ryan-hayes-neighbourhood-coquitlam-sales-stock-supply-decrease-interest-rates-bank-slow-transistion-royal-lepage-2022-family-sellers-asking-price-market-ensuite-bedrooms-kitchen-yard","status":"publish","type":"post","link":"https:\/\/www.rodrhearyan.com\/blog\/realtor-rod-rhea-ryan-hayes-neighbourhood-coquitlam-sales-stock-supply-decrease-interest-rates-bank-slow-transistion-royal-lepage-2022-family-sellers-asking-price-market-ensuite-bedrooms-kitchen-yard\/","title":{"rendered":"Coquitlam Sales May 2022 vs 2021- Decreasing Prices & Sales"},"content":{"rendered":"
Benchmark prices are up across the board, between 19%-25.5% over thier 2021 counterparts. 
The May benchmark for detached homes was $365,700 higher than its 2021 counterpart.

<\/pre>\n
Detached Market:

<\/strong><\/span><\/pre>\n
This month there was a major change to how the Home Pricing Index (HPI) is calculated<\/a><\/span>
 in an attempt to make it a more accurate reflection of the market for the average buyer\/seller.

<\/strong><\/span>The new HPI has had a substantial affect on the benchmark pricing of detached homes. 
According to the old model April's benchmark price was $1,847,800.
The new HPI formula has recalculated April's benchmark at $1,961,800
That is an increase of $114,000 to April 2022's benchmark price.<\/pre>\n

May marks the first time in just over two years that detached home's benchmark pricing has dropped.
It decreased $11,000 in the last 30-days. 


April: $1,847,800 (old HPI)
April: $1,961,800 (new HPI)
May: $1,950,800

Supply:<\/span><\/span><\/strong>
<\/span><\/span><\/strong><\/pre>\n
Compared to the same time last year supply was down across the board between 5.8%-32.6%
However, compared to April 2022 supply has generally increased.

Sales:<\/span><\/strong><\/span>

<\/strong>Sales decrease across the board, compared to both April 2022 and May 2021
The market is showing signs that it has entered a holding pattern in anticipation of a transition.
<\/strong>Compared to the same time last year sales are down between 3.8-55.6%<\/pre>\n
Townhouse Market:<\/strong><\/span><\/p>\n
Just like detached home's the new HPI has had a substantial affect on the benchmark pricing of townhouses. 
According to the old model April's benchmark price was $1,064,000.
The new HPI formula has recalculated April's benchmark at $1,149,300
That is an increase of $85,300 to April 2022's benchmark price.<\/pre>\n


April: $1,064,000 (old HPI)
April: $1,149,300 (new HPI)
May: $1,121,400

<\/pre>\n
May saw the first decrease in benchmark pricing for townhouse's in 21 month. 
Townhouse benchmark pricing is $227,900 higher than the same time in 2021.<\/strong>


<\/pre>\n
SNAPSHOT:<\/strong> 

<\/span><\/span>Decreasing sales. Decreasing Prices. Steady Supply. A market in transition.
\"coq 
<\/span><\/pre>\n","protected":false},"excerpt":{"rendered":"
Benchmark prices are up across the board, between 19%-25.5% over thier 2021 counterparts. The May benchmark for detached homes was $365,700 higher than its 2021 counterpart. …<\/p>\n","protected":false},"author":2,"featured_media":2360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1249","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\/1249","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=1249"}],"version-history":[{"count":1,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1249\/revisions"}],"predecessor-version":[{"id":3052,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1249\/revisions\/3052"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media\/2360"}],"wp:attachment":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media?parent=1249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/categories?post=1249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/tags?post=1249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}