{"id":688,"date":"2024-10-23T07:00:00","date_gmt":"2024-10-23T14:00:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/market-update-pricing-decrease-condo-townhouse-supply-surplus-subject-to-sale-trends-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-expert-poco-port-coquitlam-rental-income-family-home\/"},"modified":"2026-04-08T09:23:03","modified_gmt":"2026-04-08T16:23:03","slug":"market-update-pricing-decrease-condo-townhouse-supply-surplus-subject-to-sale-trends-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-expert-poco-port-coquitlam-rental-income-family-home","status":"publish","type":"post","link":"https:\/\/www.rodrhearyan.com\/blog\/market-update-pricing-decrease-condo-townhouse-supply-surplus-subject-to-sale-trends-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-expert-poco-port-coquitlam-rental-income-family-home\/","title":{"rendered":"Port Coquitlam Market Update"},"content":{"rendered":"<h2 style=\"text-align: center;\"><strong>Port Coquitlam Market: <\/strong><\/h2>\n<h2 style=\"text-align: center;\"><strong>September 2024 vs 2023&nbsp; <\/strong><\/h2>\n<p style=\"text-align: center;\"><strong><img decoding=\"async\" title=\"Maple Street Port Coquitlam\" src=\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/poco_drone_a.jpeg\" alt=\"Maple Street Port Coquitlam\" width=\"700\" \/> <\/strong><\/p>\n<h2 style=\"text-align: center;\"><strong>Fall begins with a summer hangover. High supply &amp; softening prices dominate the market.<br \/><\/strong><\/h2>\n<p><strong>Looking for an accurate picture of where the real estate market is headed?<\/strong><\/p>\n<h3>&nbsp; Today we dive in and take a deeper look at the Port Coquitlam market as a whole:<\/h3>\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><strong>How statistics stack up to the previous month&#8217;s activity.<\/strong><\/li>\n<li><strong>Where we are standing compared to the same time period in 2023.<\/strong><\/li>\n<li><strong>Larger market trends.<\/strong><\/li>\n<\/ol>\n<\/ol>\n<p>&nbsp;<img decoding=\"async\" style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Citadel Heights\" src=\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/citadel_b.jpeg\" alt=\"Citadel Heights\" width=\"450\" \/><\/p>\n<h3 style=\"text-align: center;\">&bull;&bull;&bull;<\/h3>\n<h3 style=\"text-align: left;\" align=\"center\"><strong>Port Coquitlam Benchmark Price Overview:<\/strong><\/h3>\n<ol>\n<li>After May signified the one year mark of all three areas of the market having a higher benchmark price than the previous year&#8230;the gap is now narrowing.<\/li>\n<ol>\n<li>In June townhouses dipped below their 2023 benchmark before briefly recovering in August &amp; diving below again in September.<\/li>\n<li>After coming within $600 of the previous years benchmark in August detached homes have widened the gap&#8230;but only just shy of $19,000.<\/li>\n<li>Each month condos edge closer to parity with 2023 pricing. Now just $17,600 above September of last year.<\/li>\n<\/ol>\n<\/ol>\n<h3><strong>2024 Port Coquitlam Market Snapshot:<\/strong><\/h3>\n<ol>\n<li>2024 has seen the real estate market develop outside of normal trends:<\/li>\n<ol>\n<li><strong>January<\/strong> was slow to warm up &amp; <strong>February<\/strong> saw the return of sellers, sizable pricing increases, &amp; continued buyer activity.<\/li>\n<li><strong>March<\/strong> saw increased sales\/supply, &amp; pricing volatility as some areas continued upwards &amp; others took a step back.<\/li>\n<li><strong>April<\/strong> was marked with generalized growth. More listings, more sales, fewer days on market, &amp; (mostly) increasing prices.<\/li>\n<li><span style=\"font-size: 12px;\"><strong>Late April through early May represents the 2024 peak.<\/strong><\/span><\/li>\n<li>Mid May through to <strong>July<\/strong> was slow, but despite low sales sellers continued to list their homes.<\/li>\n<li><strong>August<\/strong> saw sales dip even further as prices continue to hold with minor fluctuations.<\/li>\n<li><strong>September<\/strong> brought softening prices &amp; continued slow sales.<\/li>\n<\/ol>\n<\/ol>\n<p style=\"text-align: center;\" align=\"center\"><strong><span style=\"text-decoration: underline;\">&nbsp;<\/span><\/strong><\/p>\n<h3 style=\"text-align: left;\" align=\"center\"><strong>2023 Comparison:<br \/><\/strong><\/h3>\n<ol>\n<li><strong>Detached homes<\/strong> have been experiencing a yo-yo pricing effect in relation to their 2023 counterparts:<\/li>\n<ol>\n<li>$61,600 improvement May 2024 to May 2023<\/li>\n<li>$14,500 improvement June 2024 to June 2023.<\/li>\n<li>$17,600 improvement July 2024 to July 2024.<\/li>\n<li>$600 improvement August 2024 vs 2023.<\/li>\n<li>$18,400 improvement September 2024 vs 2023.<\/li>\n<\/ol>\n<li>After five months of reeling from a massive pricing increase the <strong>townhouse market<\/strong> finally saw a pricing increase in August.<\/li>\n<ol>\n<li>However, the $9,500 becnhmark increase was quickly outweighed by a 30 day decrease of $52,500 in September.<\/li>\n<li>After the benchmark price dipped below its 2023 counterpart in July, August saw it increase to 0.3% above August 2023&#8230;September&#8217;s big decrease brough the benchmark 4.4% below September 2023. Entering another potentioal yo-yo cycle.&nbsp;<\/li>\n<\/ol>\n<li>After taking a massive pricing jump in February of this year the <strong>condo market<\/strong> has really levelled off.<\/li>\n<ol>\n<li>Jan 2024: $612,900<\/li>\n<li>Feb 2024: $650,200 (a 30 day increase of $37,300)<\/li>\n<ol>\n<li>The most pricing has fallen since its Feb peak is $10,300, &amp; it now sits just $9,500 below the peak. The condo market continues to ebb and flow and has proven the most reliable and steady section of the market in 2024.<\/li>\n<\/ol>\n<\/ol>\n<\/ol>\n<h3 style=\"text-align: left;\" align=\"center\"><strong>Overall Supply &amp; Sales Update:<\/strong><\/h3>\n<p style=\"text-align: left;\" align=\"center\">&nbsp;<br \/> Compared to the same time last year supply has exploded:<\/p>\n<ul>\n<li style=\"text-align: left;\"><strong>Detached<\/strong>: +72.2%<\/li>\n<li style=\"text-align: left;\"><strong>Condo:<\/strong> +62.3%<\/li>\n<li style=\"text-align: left;\"><strong>Townhouse<\/strong>: +56.8%<\/li>\n<\/ul>\n<p style=\"text-align: left;\" align=\"center\"> When September supply is compared to August:<\/p>\n<ul>\n<li><strong>Detached:<\/strong> 18 more listings than in August<\/li>\n<li><strong>Condo:<\/strong> 16 more listings than in August<\/li>\n<li><strong>Townhouse:<\/strong> 2 less listing than in August<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p style=\"text-align: left;\" align=\"center\">Compared to the same time last year sales have mostly fallen off:<\/p>\n<ul>\n<li><strong> Detached:<\/strong> -50%<\/li>\n<li><strong> Condo:<\/strong> -8.3%<\/li>\n<li><strong> Townhomes<\/strong>: +7.1%<\/li>\n<\/ul>\n<p style=\"text-align: left;\" align=\"center\">&nbsp;<\/p>\n<p style=\"text-align: left;\" align=\"center\">Sales remain slow month over month (compared to August):<\/p>\n<ul>\n<li><strong> Detached<\/strong>: the same amount of sales as August<\/li>\n<li><strong> Condo:<\/strong> 2 less sales than August<\/li>\n<li><strong> Townhouse:<\/strong> 2 less sales than August<\/li>\n<\/ul>\n<p><img decoding=\"async\" style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"port coquitlam city hall \" src=\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/port_coquitlam_city_hall_a.jpg\" alt=\"port coquitlam city hall\" width=\"550\" \/><\/p>\n<h3 style=\"text-align: center;\" align=\"center\">&bull;&bull;&bull;&nbsp;<\/h3>\n<h3 style=\"text-align: left;\" align=\"center\"><strong>Detached Market Update:<\/strong><\/h3>\n<p style=\"text-align: center;\" align=\"center\"><strong>After 5 months of uncertainty and pricing decreases the detached market saw a massive uptick in February<strong>&mdash;recoiled in<\/strong> March<strong>&mdash;<\/strong>&amp; returned to increases for April &amp; May. Since May there has been a levelling off period&#8230;however September was the second month in a row that the benchmark price declined.<br \/><\/strong><\/p>\n<ol>\n<li style=\"text-align: left;\">In the last 12 months detached home&#8217;s benchmark pricing has seen minimal growth; up just $18,400 in a one year period.<\/li>\n<li style=\"text-align: left;\">February saw a the most substantial pricing increase in over a year. $49,000<strong><br \/><\/strong><\/li>\n<li style=\"text-align: left;\">In the last 30 days the benchmark price for detached homes decreased $13,000; the most substantial since June.<\/li>\n<li style=\"text-align: left;\">After April 2024 broke the benchmark price high for 2023 (set last August&#8211;$1,438,600), May managed to continue the upwards trend before June dipped back below the high &amp; pricing has not recovered since.<\/li>\n<li style=\"text-align: left;\">We are now $27,800 below peak 2024 prices &amp; $19,500 below peak 2023 pricing.<\/li>\n<li style=\"text-align: left;\">October &amp; November of 2023 was the last time the detached market saw its benchmark price decline for two straight months.<\/li>\n<\/ol>\n<p style=\"text-align: center;\"><strong>&nbsp;<\/strong><\/p>\n<p style=\"text-align: left;\" align=\"center\"><strong><span style=\"text-decoration: underline;\">Detached Home Benchmark Pricing:<\/span><\/strong><\/p>\n<ol>\n<li><strong>September<\/strong>: $1,408,000<\/li>\n<li><strong>October<\/strong>: $1,386,100<\/li>\n<li><strong>November<\/strong>: $1,373,800<\/li>\n<li><strong>December<\/strong>: $1,377,800<\/li>\n<li><strong>January<\/strong>: $1,368,900<\/li>\n<li><strong>February<\/strong>: $1,417,900<strong><strong><br \/><\/strong><\/strong><\/li>\n<li><strong>March<\/strong>: $1,396,400<\/li>\n<li><strong>April<\/strong>: $1,438,700<\/li>\n<li><strong>May<\/strong>: <strong>$1,446,900<\/strong><\/li>\n<li><strong>June<\/strong>: $1,423,900<\/li>\n<li>July: $1,436,900<\/li>\n<li>August: $1,432,100<\/li>\n<li>September: $1,419,100<\/li>\n<\/ol>\n<p style=\"text-align: left;\" align=\"center\"><strong><\/p>\n<p> <\/strong><\/p>\n<h3 style=\"text-align: center;\">&bull;&bull;&bull;<\/h3>\n<p style=\"text-align: left;\" align=\"center\"><strong><span style=\"text-decoration: underline;\"><br \/> <\/span><\/strong><\/p>\n<h3 style=\"text-align: left;\" align=\"center\"><strong>Townhouse Market Update:<\/strong><\/h3>\n<ol>\n<li>In February of this year the townhouse market experienced its first benchmark price increase in four months.<\/li>\n<li>After 90 days of trending upwards May saw the slightest dip&#8230;just $1,000&#8230;however, it was the beginning of a 90 day downward trend.<\/li>\n<li>August experienced a brief uptick before September saw the largest 30 day movement, positive or negative, since mid 2022<\/li>\n<ol>\n<li>June &#8211; July 2022 saw a $65,300 decrease.<\/li>\n<li>August &#8211; September 2024 saw a $52,500 decrease.<\/li>\n<\/ol>\n<li>Townhouses are now $65,700 below the 2024 market peak, &amp; $75,100 below the 2023 peak.<\/li>\n<ol>\n<li>The 2023 peak was $975,300 in last July.<\/li>\n<\/ol>\n<li>Year over year the benchmark price has decreased $41,600.<\/li>\n<\/ol>\n<p style=\"text-align: left;\" align=\"center\">&nbsp;<\/p>\n<p style=\"text-align: left;\" align=\"center\"><strong><span style=\"text-decoration: underline;\">Townhouse Benchmark Pricing:<\/span><\/strong><\/p>\n<ol>\n<li style=\"text-align: left;\">&nbsp;<strong>September<\/strong>: $944,800<\/li>\n<li style=\"text-align: left;\"><strong>October<\/strong>: $953,100<\/li>\n<li style=\"text-align: left;\"><strong>November: <\/strong>$944,100<\/li>\n<li style=\"text-align: left;\"><strong>December<\/strong>: $913,000<\/li>\n<li style=\"text-align: left;\"><strong>January: <\/strong>$909,200<\/li>\n<li style=\"text-align: left;\"><strong>February<\/strong>: $915,600<\/li>\n<li style=\"text-align: left;\"><strong>March<\/strong>: $963,000<\/li>\n<li style=\"text-align: left;\"><strong>April<\/strong>:<strong> $965,900<\/strong><\/li>\n<li style=\"text-align: left;\"><strong>May<\/strong>: $964,900<\/li>\n<li style=\"text-align: left;\"><strong>June<\/strong>: $950,600<\/li>\n<li style=\"text-align: left;\"><strong>July<\/strong>: $943,200<\/li>\n<li style=\"text-align: left;\"><strong>August:<\/strong>$952,700<\/li>\n<li style=\"text-align: left;\"><strong>September:<\/strong> $900,200\n<\/p>\n<p><img decoding=\"async\" style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Port Coquitlam September 2024 vs September 2023 Market Update\" src=\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/september_2024_vs_september_2023.jpg\" alt=\"Port Coquitlam September 2024 vs September 2023 Market Update\" width=\"750\" \/> <\/p>\n<p align=\"center\"><strong>Compared to 2023 supply continues to soar, and although the market appeared to be leveling out throughout the summer September took a downward turn. Buyers have taken a step back. For the last several months since a late Apri peak pricing growth has stagnated generally fluctuating minorly up and then back down month-over-month. However, September broke the yo-yo trend for two areas of the market; detached homes saw two back-to-back months of decreases and townhouses saw a large decrease.<\/strong><\/p>\n<p align=\"center\"><strong> Subject to sale offers have returned to varying degrees. The fall market hasn&#8217;t recovered from a slow summer, and while there is still movement buyers are looking for &#8216;great deals&#8217; or they are holding off as supply remains unusually high.<\/strong><\/p>\n<\/li>\n<\/ol>\n<h3 style=\"margin-bottom: 0cm; text-align: center;\"><a href=\"https:\/\/www.rodrhearyan.com\/about-us\"><strong><span style=\"font-size: 12px;\">Your Neighbourhood Experts<\/span><\/strong><\/a><\/h3>\n<h2 style=\"text-align: center;\">&nbsp;<a href=\"https:\/\/www.rodrhearyan.com\/contact\">Have questions about Port Coquitlam&#8217;s market? Click Here to CONTACT US<\/a><a href=\"https:\/\/www.rodrhearyan.com\/contact\"><br \/><\/a><\/h2>\n<p style=\"text-align: center;\"><img decoding=\"async\" src=\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/r3_logo.png\" alt=\"r3 logo\" width=\"100\" \/><\/p>\n<p style=\"text-align: center;\"><strong>We are working to make your life easier.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Port Coquitlam Market: September 2024 vs 2023&nbsp; Fall begins with a summer hangover. High supply &amp; softening prices dominate the market. Looking for an accurate picture &hellip;<\/p>\n","protected":false},"author":2,"featured_media":2187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-688","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\/688","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=688"}],"version-history":[{"count":1,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/688\/revisions"}],"predecessor-version":[{"id":2801,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/688\/revisions\/2801"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media\/2187"}],"wp:attachment":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media?parent=688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/categories?post=688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/tags?post=688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}