{"id":713,"date":"2024-09-18T07:00:00","date_gmt":"2024-09-18T14:00:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/market-update-pricing-increase-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-increase-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-increase-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>August 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>With high supply continuing a slow summer market comes to an end remaining relatively balanced.<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 marked 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 recovering slightly in August.<\/li>\n<li>In August detached homes came within $600 of the August 2023 benchmark.<\/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<\/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> are now at parity August 2023 prices. After July saw a very minor uptick over 2023 the slow August market nulified any year-over-year pricing increase:<\/li>\n<ol>\n<li>$73,600 improvement April 2024 to April 2023.<\/li>\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>August 2024 vs 2023 pricing gap $600<\/li>\n<\/ol>\n<li>After five months of reeling from a massive pricing increase the <strong>townhouse market<\/strong> has finally seen another pricing increase.<\/li>\n<ol>\n<li>After 4 months of minor decreases the townhouse market benchmark price increased $9,500 over the last 30 days.<\/li>\n<li>Last month prices were below their 2023 counterparts, however, this last increase sees August 2024 benchmark 0.3% above August 2023.<\/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 $1,900 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>: +48.6%<\/li>\n<li style=\"text-align: left;\"><strong>Condo:<\/strong> +95.1%<\/li>\n<li style=\"text-align: left;\"><strong>Townhouse<\/strong>: +83.3%<\/li>\n<\/ul>\n<p style=\"text-align: left;\" align=\"center\"> When Augsut supply is compared to July:<\/p>\n<ul>\n<li><strong>Detached:<\/strong> 4 less listings than in July<\/li>\n<li><strong>Condo:<\/strong> 13 less listings than in July<\/li>\n<li><strong>Townhouse:<\/strong> 11 less listing than in July<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p style=\"text-align: left;\" align=\"center\">Compared to the same time last year sales have fallen off:<\/p>\n<ul>\n<li><strong> Detached:<\/strong> -53.6%<\/li>\n<li><strong> Condo:<\/strong> -11.1%<\/li>\n<li><strong> Townhomes<\/strong>: -30.8%<\/li>\n<\/ul>\n<p style=\"text-align: left;\" align=\"center\">&nbsp;<\/p>\n<p style=\"text-align: left;\" align=\"center\">Sales varied month over month (compared to July):<\/p>\n<ul>\n<li><strong> Detached<\/strong>: 9 less sales than July<\/li>\n<li><strong> Condo:<\/strong> 7 less sales than July<\/li>\n<li><strong> Townhouse:<\/strong> 6 more sales than July<\/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 with no dramatic changes.<br \/><\/strong><\/p>\n<ol>\n<li style=\"text-align: left;\">In the last 12 months detached home&#8217;s benchmark price has seen zero growth.<\/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 $4,800.<\/li>\n<li style=\"text-align: left;\">Over the last 60 days however the benchmark price has increased $8,200.<\/li>\n<li style=\"text-align: left;\">After April 2024 broke the benchmark price high for 2023 (set last August), May managed to continue the upwards trend before June dipped back below the high.<\/li>\n<li style=\"text-align: left;\">Both July &amp; August remined above peak 2023 pricing. However, we are now $14,800 below peak 2024 prices.<\/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>August<\/strong>: <strong>$1,431,500<\/strong><\/li>\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<\/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. Just $1,000. It was the beginning of a 90 day downward trend.<\/li>\n<li>Townhouses are now $18,300 below the 2023 market peak, &amp; $13,500 below the 2024 peak.<\/li>\n<li>Year over year the benchmark price has increased $2,700.<\/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>July<\/strong>: <strong>$971,000 &nbsp;<\/strong><\/li>\n<li style=\"text-align: left;\"><strong>&nbsp;August: <\/strong>$950,000<\/li>\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\n<\/p>\n<p><img decoding=\"async\" style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"port coquitlam august 2024 vs august 2023 market\" src=\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/port_coquitlam_august_2024_vs_august_2023_market.jpg\" alt=\"port coquitlam august 2024 vs august 2023 market\" width=\"750\" \/><\/p>\n<p align=\"center\"><strong>Compared to 2023 supply continues to soar, however, month-over-month it appears to be levelling out. On the whole buyers have taken a step back. Since an April\/May peak pricing growth has stagnated generally fluctuating minorly up and then back down month-over-month. Subject to sale offers have returned to varying degrees. The summer market has fully slowed down, 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: August 2024 vs 2023&nbsp; With high supply continuing a slow summer market comes to an end remaining relatively balanced. Looking for an accurate &hellip;<\/p>\n","protected":false},"author":2,"featured_media":2193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-713","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\/713","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=713"}],"version-history":[{"count":1,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/713\/revisions"}],"predecessor-version":[{"id":2808,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/713\/revisions\/2808"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media\/2193"}],"wp:attachment":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media?parent=713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/categories?post=713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/tags?post=713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}