{"id":961,"date":"2023-10-13T07:00:00","date_gmt":"2023-10-13T14:00:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/pricing-decrease-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-expert-poco-port-coquitlam-market-update-sales-purchase-sale-listings-demand-royal-lepage-rental-income-investment-1\/"},"modified":"2026-04-08T09:23:24","modified_gmt":"2026-04-08T16:23:24","slug":"pricing-decrease-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-expert-poco-port-coquitlam-market-update-sales-purchase-sale-listings-demand-royal-lepage-rental-income-investment-1","status":"publish","type":"post","link":"https:\/\/www.rodrhearyan.com\/blog\/pricing-decrease-mary-hill-citadel-realtor-rod-rhea-ryan-hayes-neighbourhood-expert-poco-port-coquitlam-market-update-sales-purchase-sale-listings-demand-royal-lepage-rental-income-investment-1\/","title":{"rendered":"Port Coquitlam Market September 2023 vs 2022 &#8211; Detached Homes See Pricing Decrease"},"content":{"rendered":"<p><strong>Looking for an accurate picture of where the real estate market is headed?<\/strong><\/p>\n<p>&nbsp; Today we dive in and take a deeper look at the Coquitlam market as a whole:<\/p>\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>How statistics stack up to the previous month&#8217;s activity.<\/li>\n<li>Where we are standing compared to the same time period in 2022.<\/li>\n<li>Larger market trends.<\/li>\n<\/ol>\n<\/ol>\n<p>&nbsp;<\/p>\n<p align=\"center\"><strong>Port Coquitlam Benchmark Price Overview:<\/strong><\/p>\n<p>September marked the third consecutive month that all three areas of the market had a higher benchmark price than the previous year; however, as a whole the market has largely contracted since August 2023. Condos are the only area of the market that didn&#8217;t see a pricing decrease in the last 30 days. &nbsp; &nbsp;<\/p>\n<p align=\"center\"><strong>After experiencing steep pricing increases for the first half of the year the market slowed during the summer months. Now as fall progresses, and detached homes finally see a pricing decrease, all areas of the market appear to be tightening.&nbsp;<\/strong><\/p>\n<p align=\"center\"><strong><span style=\"text-decoration: underline;\">The question now is; has a new pattern of pricing decreases emerged? Or is the market simply leveling off?<\/span><\/strong><\/p>\n<p align=\"center\">Detached homes are now 7.1% above September 2022 prices representing a $93,900 improvement in a single year; despite this improvement the gap between 2023 &amp; 2022 pricing has narrowed by $17,300 over the last 30 days.<span style=\"text-decoration: underline;\"><br \/> <\/span>Townhouses are 4.1% above September 2022 prices, and condos are a slim 4.0% up over the last year.<\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\"><strong>Overall Supply Update:<\/strong><\/p>\n<p align=\"center\">&nbsp;<br \/> Compared to the same time last year supply has decreased across the board:<br \/> Detached: +1.1%<br \/> Condo: -34.5% <br \/> Townhomes: -13.9%<\/p>\n<p> When September 2023 supply is compared to August 2023:<br \/> Detached: 8 less listings than in August<br \/> Condo: 17 more listings than in August<br \/> Townhouse: 2 more listings than in August<\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\"><strong>Overall Sales Update:<\/strong><\/p>\n<p align=\"center\"> Compared to the same time last year sales are varied widely:<br \/> Detached: +68.8%<br \/> Condo: +9.1% <br \/> Townhomes: -27.3%<\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\">Compared to August 2023 sales, sales showed a small amount of deviation:<br \/> Detached:1 less sale than August<br \/> Condo: 3 less sales than August<br \/> Townhouse: 1 more sale than August<\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\"><strong>Detached Market Update:<\/strong><\/p>\n<p align=\"center\"><strong>September marks the first time in 2023 that prices for detached homes has decreased month-over-month. November 2022 to December 2022 was the last time there was a pricing decrease; there was a $5600 decrease in that 30-day window. <br \/><\/strong><\/p>\n<p align=\"center\"><span style=\"text-decoration: underline;\">Since December 2022 detached home&#8217;s benchmark price has increased $131,000.<\/span><br \/>In the last 30 days the benchmark price has decreased $30,600.<strong><br \/><\/strong><\/p>\n<p align=\"center\">Last month we questioned whether the switch to incremental pricing increases was an indicator that we were reaching a new market peak&#8230;with this month&#8217;s decrease the answer becomes slightly clearer. While it seems as though we area heading towards a softening the market could just as easily level out and find a new equilibrium.<\/p>\n<p align=\"center\"><strong><span style=\"text-decoration: underline;\">Detached Home Benchmark Pricing:<\/span><\/strong><\/p>\n<p align=\"center\"><span style=\"text-decoration: underline;\"><br \/> <\/span>December: $1,277,000<span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"> <br \/><\/span><\/span>January: $1,279,200<span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"> <br \/><\/span><\/span><\/span><\/span><strong>February: $1,282,000 <span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><br \/><\/span><\/span><\/strong>March: $1,310,300<span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"> <br \/><\/span><\/span><\/span><\/span>April: $1,339,000&nbsp; <strong><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><br \/><\/span><\/span><\/span><\/span><\/strong>May: $1,392,100&nbsp; <strong><strong><strong><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><br \/><\/span><\/span><\/span><\/span><\/strong><\/strong><\/strong>June: $1,418,300 <span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><br \/><\/span><\/span><\/span><\/span>July: $1,424,600<strong> <span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><br \/><\/span><\/span><\/span><\/span><\/strong>August: $1,438,600<strong><strong><strong> <span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><span style=\"text-decoration: underline;\"><br \/><\/span><\/span><\/span><\/span><\/strong>September: $1,408,000<strong><strong><br \/><\/strong><\/strong><br \/><\/strong><br \/> <\/strong><strong><span style=\"text-decoration: underline;\"><br \/> <\/span><\/strong><\/p>\n<p align=\"center\"><strong>Townhouse Market Update:<\/strong><\/p>\n<p align=\"center\"> In the last 30 days the benchmark price has decreased $8,900: there has been a $30,500 decrease in the last 60 days.<\/p>\n<p align=\"center\">This the second consecutive month of pricing decreases and the second time in 2023 that the benchmark price has decreased.<\/p>\n<p align=\"center\"><strong>October 2022 to November 2022 was the last time there was a pricing decrease; there was a $23,300 decrease in that 30-day window. Since November 2022 townhouses&#8217; benchmark price has increased $75,800.<\/strong><\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\">Over supply should not be a factor in the prcing decrease as it is down year-over-year and month-over-month. The number of sales also remain steady meaning the townhouse market has likely reached its peak for 2023.<\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\"><strong><span style=\"text-decoration: underline;\">Townhouse Benchmark Pricing:<\/span><\/strong><\/p>\n<p align=\"center\">&nbsp;<br \/> December: $870,000<br \/> January: $879,100 <br \/> February: $884,700<br \/> March: $898,400 <br \/> April: $901,600<br \/> May : $928,900&nbsp; <br \/>&nbsp;June : $962,100 <br \/>&nbsp;July: $975,300 &nbsp; <br \/><strong>&nbsp;August: $953,700<\/strong> <br \/>&nbsp;September: $944,800<\/p>\n<p align=\"center\">&nbsp;<img decoding=\"async\" title=\"Port Coquitlam September Market Breakdown\" src=\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/sept.jpg\" alt=\"Port Coquitlam September Market Breakdown\" \/><\/p>\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<p>&nbsp;<\/p>\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<h3 style=\"margin-bottom: 0cm; text-align: center;\"><a href=\"https:\/\/www.rodrhearyan.com\/contact\">Have questions about Port Coquitlam&#8217;s market? Click Here to CONTACT US<br \/><\/a><\/h3>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\">&nbsp;<\/p>\n<p align=\"center\">&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Looking for an accurate picture of where the real estate market is headed? &nbsp; Today we dive in and take a deeper look at the Coquitlam &hellip;<\/p>\n","protected":false},"author":2,"featured_media":2265,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-961","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\/961","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=961"}],"version-history":[{"count":1,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/961\/revisions"}],"predecessor-version":[{"id":2880,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/961\/revisions\/2880"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media\/2265"}],"wp:attachment":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media?parent=961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/categories?post=961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/tags?post=961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}