Benchmark prices are up across the board in Port Coquitlam between 13.4-17.1% over thier 2021 counterparts.


Detached Market:

July marks the fourth consecutive month that detached home's benchmark pricing has fallen.
Although the rate of decline has slowed in the last month.

 The benchmark price for detached homes fell $32,400 in 30 days.

  However the July benchmark for detached homes was still $203,800  higher than its 2021 counterpart. 
 
Detached home benchmark pricing:

April: $1,538,600
May: $1,517,700 
June: $1,427,900
July: $1,395,500

Supply:

Compared to the same time last year supply for detached homes and condos have decreased:
Detached:  -7.6%
Condo: -12.9%
While townhouse listings have skyrocketed 80.8% potentially due to sellers trying to cash in as prices plummet.
 

Sales:

Compared to the same time last year sales decrease across the board.
Detached: -46.2%
Condo: -10.3%
Townhouse: -28.6%

Compared to June 2022 sales have decreased as cautious buyers wait for market patterns to solidify.

Townhouse Market:

The benchmark price for a townhome is $107,900 higher than the same time last year.

After spending two months over the million mark the benchmark price for townhouse's slipped back in to the $900,000 range.
The question is now how far it will decline. Will August see prices dip in to the $800,000 range?

May: $1,019,000 
June: $980,300
July: $915,000

Supply is increasing while sales decrease. 

SNAPSHOT: 

Fluctuating supply. Decreasing Sales. Decreasing Prices. Buyers Market.