{"id":768,"date":"2024-06-19T07:00:00","date_gmt":"2024-06-19T14:00:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/pricing-decrease-supply-surplus-active-market-trends-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-expert-poco-port-coquitlam-update-sellers-purchase-sale-listings-demand-rental\/"},"modified":"2026-04-17T13:46:06","modified_gmt":"2026-04-17T20:46:06","slug":"pricing-decrease-supply-surplus-active-market-trends-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-expert-poco-port-coquitlam-update-sellers-purchase-sale-listings-demand-rental","status":"publish","type":"post","link":"https:\/\/www.rodrhearyan.com\/blog\/pricing-decrease-supply-surplus-active-market-trends-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-expert-poco-port-coquitlam-update-sellers-purchase-sale-listings-demand-rental\/","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>May 2024 vs 2023\u00a0 <\/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>After months of ever increasing new listings &amp; countless sales\u2014&amp; after an April filled with climbing prices\u2014the May market showed signs of potential peaking.<br \/>\n<\/strong><\/h2>\n<p><strong>Looking for an accurate picture of where the real estate market is headed?<\/strong><\/p>\n<h3>\u00a0 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<li style=\"list-style-type: none;\">\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<\/li>\n<\/ol>\n<p><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;\">\u2022\u2022\u2022<\/h3>\n<h3 style=\"text-align: left;\" align=\"center\"><strong>Port Coquitlam Benchmark Price Overview:<\/strong><\/h3>\n<ol>\n<li>We have now passed the one year mark of all three areas of the market having a higher benchmark price than the previous year.<\/li>\n<li>2024 has seen the real estate market develop outside of normal trends:\n<ol>\n<li>January was slow to warm up &amp; February saw the return of sellers, sizable pricing increases, and continued buyer activity.<\/li>\n<li>March saw increased sales\/supply, and pricing volatility as some areas continued upwards and others took a step back.<\/li>\n<li>April was marked with generalized growth. More listings, More sale, fewer days on market, &amp; (mostly) increasing prices.<\/li>\n<li>May showed signs of a potential peak in sight. Compared to April 2024 two areas of the market saw slight pricing &amp; sales decreases. All while supply remains higher than average.<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<h3 style=\"text-align: center;\"><strong>While active listings in Metro Vancouver remain extremely high <\/strong><\/h3>\n<h3 style=\"text-align: center;\"><strong>sales are leveling off &amp; prices are showing signs of peaking.<br \/>\n<\/strong><\/h3>\n<p style=\"text-align: center;\" align=\"center\"><strong><span style=\"text-decoration: underline;\">\u00a0<\/span><\/strong><\/p>\n<h3 style=\"text-align: left;\" align=\"center\"><strong>2023 Comparison:<br \/>\n<\/strong><\/h3>\n<ol>\n<li>Detached homes are now 4.4% above May 2023 prices representing a $61,600 improvement in a single year; this is the third consecutive month that the year-over-year gap has decreased:\n<ol>\n<li>$115,200 improvement Feb 2024 and Feb 2023.<\/li>\n<li>$80,000 improvement March 2024 and March 2023.<\/li>\n<li>$73,600 improvement April 2024 to April 2023.<\/li>\n<\/ol>\n<\/li>\n<li>The townhouse market still seems to be reeling from the massive price increase it saw in March. Both April &amp; May saw very minor price decreases and the gap between 2024 and 2023 prices narrowed from 8.1% to 4.2% in just three months.<\/li>\n<li>Right now condos are experiencing a similar market as they did in 2023. The price ebbs and flows with marginal increases followed by slight decreases. But there has not been a monumental change in 2024.<\/li>\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\">\nCompared to the same time last year supply has exploded:<\/p>\n<ul>\n<li style=\"text-align: left;\"><strong>Detached<\/strong>: +62.7%<\/li>\n<li style=\"text-align: left;\"><strong>Condo:<\/strong> +67.4%<\/li>\n<li style=\"text-align: left;\"><strong>Townhouse<\/strong>: +91.3%<\/li>\n<\/ul>\n<p style=\"text-align: left;\" align=\"center\">When May supply is compared to April:<\/p>\n<ul>\n<li><strong>Detached: <\/strong>9 more listings than in April<\/li>\n<li><strong>Condo:<\/strong> 2 less listings than in April<\/li>\n<li><strong>Townhouse:<\/strong> 5 more listing than in April<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p style=\"text-align: left;\" align=\"center\">Compared to the same time last year sales are fluctuating:<\/p>\n<ul>\n<li><strong> Detached:<\/strong> -3.2% (April 2024 saw 75% more sales than April 2023. So this is a massive shift)<\/li>\n<li><strong> Condo:<\/strong> +2.5%<\/li>\n<li><strong> Townhomes<\/strong>: +26.3%<\/li>\n<\/ul>\n<p style=\"text-align: left;\" align=\"center\">\n<p style=\"text-align: left;\" align=\"center\">Sales varied month over month (compared to April):<\/p>\n<ul>\n<li><strong> Detached<\/strong>: 5 less sales than April<\/li>\n<li><strong> Condo:<\/strong> 5 less sales than April<\/li>\n<li><strong> Townhouse:<\/strong> 3 more sales than April<\/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\">\u2022\u2022\u2022<\/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>\u2014recoiled in<\/strong> March<strong>\u2014<\/strong>&amp; returned to increases for the past 60 days.<br \/>\n<\/strong><\/p>\n<ol>\n<li style=\"text-align: left;\">In the last 12 months detached home&#8217;s benchmark price has increased $61,600 (trending downwards)<\/li>\n<li style=\"text-align: left;\">February saw a the most substantial pricing increase in over a year. $49,000<strong><br \/>\n<\/strong><\/li>\n<li style=\"text-align: left;\">In the last 30 days the benchmark price for detached homes increased $8,200.<\/li>\n<li style=\"text-align: left;\">Over the last 60 days however the benchmark price has only increased $50,500.<\/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.<\/li>\n<li style=\"text-align: left;\">We are now $8300 above peak 2023 prices.<\/li>\n<\/ol>\n<p style=\"text-align: center;\"><strong>\u00a0<\/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>April<\/strong>: $1,354,300<\/li>\n<li><strong>May<\/strong>: $1,392,100<\/li>\n<li><strong>June<\/strong>: $1,418,300<\/li>\n<li><strong>July<\/strong>: $1,424,600<\/li>\n<li><strong>August<\/strong>: <strong>$1,438,600<\/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 \/>\n<\/strong><\/strong><\/li>\n<li><strong>March<\/strong>: $1,396,400<\/li>\n<li><strong>April<\/strong>: <strong><strong>$1,438,700<\/strong><\/strong><\/li>\n<li><strong>May<\/strong>: $1,446,900<\/li>\n<\/ol>\n<p style=\"text-align: left;\" align=\"center\">\n<p>&nbsp;<\/p>\n<h3 style=\"text-align: center;\">\u2022\u2022\u2022<\/h3>\n<p style=\"text-align: left;\" align=\"center\"><strong><span style=\"text-decoration: underline;\">\u00a0<\/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.<\/li>\n<li>Since March townhouse pricing has been extremely stable.<\/li>\n<li>Townhouses are now $10,400 below the 2023 market peak.<\/li>\n<li>Year over year the benchmark price has increased $39,300.<\/li>\n<\/ol>\n<p style=\"text-align: left;\" align=\"center\">\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;\"><strong>April<\/strong>: $909,200<\/li>\n<li style=\"text-align: left;\"><strong>May<\/strong> : $928,900<\/li>\n<li style=\"text-align: left;\">\u00a0<strong>June<\/strong> : $962,100<\/li>\n<li style=\"text-align: left;\">\u00a0<strong>July<\/strong>: <strong>$975,300 \u00a0<\/strong><\/li>\n<li style=\"text-align: left;\"><strong>\u00a0August: <\/strong>$953,700<\/li>\n<li style=\"text-align: left;\">\u00a0<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>: $965,900<\/li>\n<li style=\"text-align: left;\"><strong>May<\/strong>: $964,900<\/li>\n<\/ol>\n<p><img decoding=\"async\" style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"port coquitlam market update may 2024 vs 2023\" src=\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/port_coquitlam_market_update_may_2024_vs_2023.jpg\" alt=\"port coquitlam market update may 2024 vs 2023\" width=\"750\" \/><\/p>\n<h3 style=\"margin-bottom: 0cm; text-align: center;\"><strong><span style=\"font-size: 12px;\">Supply continues to soar, buyers remain active but are showing signs of faltering. Pricing growth has stagnated outside of the detached market. Some homes are still selling in multiple offers&#8230;but others are sitting. Subject to sale offers are making a return. The spring market remains active&#8230;however, it is showing signs of slowing earlier than is traditional.<\/span><\/strong><\/h3>\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;\">\u00a0<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 \/>\n<\/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<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Port Coquitlam Market: May 2024 vs 2023\u00a0 After months of ever increasing new listings &amp; countless sales\u2014&amp; after an April filled with climbing prices\u2014the May market &hellip;<\/p>\n","protected":false},"author":2,"featured_media":2210,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,15,7],"tags":[],"class_list":["post-768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-port-coquitlam","category-local-market-updates","category-news"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"Port Coquitlam Market: May 2024 vs 2023 After months of ever increasing new listings &amp; countless sales\u2014&amp; after an April filled with climbing prices\u2014the May market showed signs of potential peaking. 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