Posted on April 11, 2025 Category: Area Statistics

Port Coquitlam Market:

March 2025 vs 2024

2025 remains cautious...

Listings increase while many buyers remain on the sidelines. A fragile balanced market persists.

Looking for an accurate picture of where the real estate market is headed?

Today we dive in and take a deeper look at the Port Coquitlam market as a whole:

A full overview & an in depth look at detached homes and townhouses. Both focusing on:

How statistics stack up to the previous month's activity.
Where we are standing compared to the same time period in 2024.
Larger market trends.

Citadel Heights

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Port Coquitlam Benchmark Price Overview:

After taking a big pricing cut in October townhouses rebounded. Aside from January they have seen the largest market gains of all three segments of housing over the last six months and remain firm in March.
Directly after hitting a new 2024 benchmark high in October detached homes plunged downwards in November and took a minor dip in December before beginning to crawl back up in January & leaping forward in February. In March the benchmark has settled just $38,400 below the 2024 peak.
After two month of benchmark pricing increases condos took a hit in February dipping below the previous year's benchmark for the first time since June 2023. In March the benchmark rebounded, once again netting a year over year positive (by just 0.1%). The benchmark price is still fluctuating within in the same $20,000 window as it has for roughly a year.

Port Coquitlam Market Snapshot (a review):

Over the last six months the real estate market in Poco has developed as follows:

With the return of active buyers October saw a month-over-month supply decrease, increasing sales, & a new 2024 benchmark price for detached homes.
November saw a third month in a row for supply decreases, stready sales, and a large drop off in the detached benchmark price.
The year finished continually decreasing supply, a holiday sales slump, & increasing prices for attached homes.
After two months of steep decline detached homes started 2025 with a price increase, condo sales shot up, & days on market took a large spike upwards.
February saw a big jump in townhouse pricing, supply still well below Oct/Nov 2024 levels, large days on market decrease, & relatively low-but steady-sales.
The main change in March was supply, it increased across the board. Month-over-month sales saw a small increase...year over year sales are 26-36% down.

2023-2024 Comparison:

After 4 months of yo-yo pricing when compared to 2023 detached homes saw a sizable increase in October 2024 before bottoming out in Decemeber and beginning a decent recovery in 2025. Now March 2025 prices are butting up against 2024's initial set of pricing increases which is narrowing the year-over-year gap despite 2025 prices holding firm.

$75,300 improvement October 2024 vs 2023.
$24,700 improvement November 2024 vs 2023.
$8,700 improvement December 2024 vs 2023.
$36,300 improvement January 2025 vs 2024.
$33,200 improvement February 2025 vs 2024.
$11,300 improvement March 2025 vs 2024.

Last year townhouses never truly recovered after an early spring peak.

October 2024 was a low point with the benchmark price dipping below $900,000 for the first time in 2024; the lowest benchmark since March 2023.
November & December both saw improvement, but January 2025 was a large step backwards.
After jumping up in February, March saw the benchmark price inch upwards. It is now the highest is has been in seven months, since August 2024.
Currently under $15,000 below the 2024 peak.

After peaking in February 2024 the condo market has really levelled off.

Feb 2024 the benchmark price was $650,200.

Since then lowest the benchmark price has fallen is $23,200 (November 2024)
As of March 2025 the benchmark is just $8,200 below the 2024 peak. On par with the January 2025 and September 2024 benchmarks.
For over 12 months now pricing has continued to ebb and flow depending on the style of unit available and the number of buyers in the market. It remains the most steady pillar in the market. Not surpassing the 2024 peak...but also not falling far from the high.

Overall Supply & Sales Update:

Compared to the same time last year supply remains high:

Detached: +45.7%
Condo: +38.6%
Townhouse: +96.3%

When March supply is compared to February:

Detached: 15 more listings than in February
Condo: 14 more listings than in February
Townhouse: 13 more listings than in February

Compared to the same time last year sales have decreased:

Detached: -26.9%
Condo: -36.4%
Townhomes: -26.3%

Sales held/increased month over month (compared to February):

Detached: 1 more sales than February
Condo: same number of sales as February
Townhouse: 5 more sales than February

port coquitlam city hall

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Detached Market Update:

March 2025 vs 2024 sees the detached benchmark price increase by $11,300.
October 2024 saw the most substantial pricing increase in the last 12 months. $37,800 in 30-days. Followed by two down months.
On the whole the first three of 2025 has been stronger than the last three months of 2024. Prices are increasing and holding.
In the last 12 months the benchmark has dipped below 1.4 twice.

Its largest fluctuation was $77,400 (October & December). For the majority of the last 12 months is has been fairly steady.
In 2023 there were 8 months of a sub 1.4 benchmark.

Pricing peak:

We are now $38,400 below the 2024 peak.
& $20,100 below the 2023 peak.

Detached Home Benchmark Pricing:

April: $1,438,700
May: $1,446,900
June: $1,423,900
July: $1,436,900
August: $1,432,100
September: $1,419,100
October: $1,456,900
November: $1,392,700
December: $1,379,500
January 2025: $1,401,100
February: $1,420,500
March: $1,418,500

•••

Townhouse Market Update:

August experienced a brief uptick before September saw the largest 30 day movement, positive or negative, since mid 2022

June - July 2022 saw a $65,300 decrease.
August - September 2024 saw a $52,500 decrease.

Surprisingly September was followed up with second consecutive month fraught by a sizable decrease. By October point the benchmark price had dropped $69,800 in 60 days.
However, in the five months following the 2024 low townhouses have been experiencing the strongest growth within the local market.
Townhouses are now just $15,600 below the 2024 market peak, & at their highest benchmark since August 2024.

And the benchmark price has climbed $67,800 in just five months.

Year over year the benchmark price decreased by $100. Three of the last six months have seen the benchmark price below the previous year.

Townhouse Benchmark Pricing:

April: $965,900
May: $964,900
June: $950,600
July: $943,200
August:$952,700
September: $900,200
October: $882,900
November: $936,600
December:$940,700
January: $924,200
February: $950,000
March: $950,700

Brief Summary:

The Port Coquitlam market continues to reflect a cautious yet active spring. While inventory has steadily climbed, buyer activity remains muted, resulting in a delicate balance between supply and demand. Detached home prices are showing resilience, gradually recovering after late-2024 declines; the benchmark is now just shy of last year’s high. Townhouses, meanwhile, have emerged as a standout—posting steady gains since hitting a low in October, with March marking their highest pricing since summer 2024. Condos remain the most stable segment, consistently hovering within a narrow price range for over a year.

Overall, the number of listings are significantly up year-over-year, but sales remain down, reinforcing a buyer-favouring environment. Detached homes, townhomes, and condos all saw either parity or slightly increased sales month-over-month compared to February. As conditions continue to evolve, buyers benefit from more choice and negotiating room, while sellers must remain strategic and informed as the situation evolves. The spring market is underway—steady, selective, and full of opportunity.