{"id":1263,"date":"2022-05-16T12:45:00","date_gmt":"2022-05-16T19:45:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-poco-port-coquitlam-buyer-sales-demand-supply-increase-prices-offer-royal-lepage-townhouse-million-ensuite-bedroom-yard-suite\/"},"modified":"2026-04-08T09:24:03","modified_gmt":"2026-04-08T16:24:03","slug":"mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-poco-port-coquitlam-buyer-sales-demand-supply-increase-prices-offer-royal-lepage-townhouse-million-ensuite-bedroom-yard-suite","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-increase-prices-offer-royal-lepage-townhouse-million-ensuite-bedroom-yard-suite\/","title":{"rendered":"Port Coquitlam Sales April 2022 vs 2021- A Market In Transition"},"content":{"rendered":"

Benchmark prices are up across the board in Port Coquitlam between 23.9-30.5% over thier 2021 counterparts.
 The April benchmark for detached homes was $365,900  higher than its 2021 counterpart. 

Detached Market:<\/strong><\/span>

April marks the first time that detached home's benchmark pricing has decreased in 11 months.<\/span> 

While it only went down $400 in a 30 day period it may indicate that the market is finally transitioning towards favoring buyers.<\/strong>
<\/strong><\/span> 
Detached home benchmark pricing:

July 2021: $1,241,000
August:$1,249,300
September: $1,265,400
<\/strong>October: $1,289,000
<\/strong>November: $1,323,500
December: $1,365,200
January2022: $1,448,100
February: $1,542,600
March: $1,615,000
April: $1,614,600

Part of the reason that detached homes pricing has finally started to level out is an increase in supply. 
Detached homes supply has increase by 24% in the past 30 days; resulting in 18 more listing in April compared to February.

<\/pre>\n
Despite detached home's jump in supply the market is still facing a supply shortage compared to the same time in 2021.<\/span><\/pre>\n

Supply:
<\/span><\/span><\/strong>
Compared to the same time last year supply was down between 25.6-47.2%<\/pre>\n
Supply has now risen for detached homes and townhouses for four consecutive months.
We continue to edge towards a balanced market.<\/strong><\/p>\n
 <\/p>\n
Sales:<\/span><\/strong><\/span><\/p>\n
Sales fluctuate as the market holds in anticipation of a transition.
Detached home sales are down 52% compared to the same time last year. Condos are down 30.4%. And townhouses are up 57.1%.<\/p>\n
 <\/p>\n
Townhouse Market:<\/strong><\/span><\/p>\n
 The benchmark price for a townhouse increased $30,900 in the last 30 days and the average Port Coquitlam townhouse now costs over a million for the first time.<\/strong><\/p>\n
The benchmark price for a townhome is $235,900 higher than the same time last year.
<\/strong><\/span><\/p>\n

November: $826,500
December: $850,300
January: $870,100
February: $939,300
March: $979,900
April: $1,010,600

SNAPSHOT:<\/strong> 

<\/span><\/span>Generally increasing supply. Fluctuating demand. Townhomes Thrive. A market in transition.

\"poco 
<\/span><\/pre>\n","protected":false},"excerpt":{"rendered":"
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