Benchmark prices are up across the board in Port Coquitlam between 9.5-15% over thier 2021 counterparts.


Detached Market:

August marks the fifth consecutive month that detached home's benchmark pricing has fallen.

The rate of pricing decline has more than doubled compared to July 2022. 
 The benchmark price for detached homes fell $67,400 in 30 days.

  However the August benchmark for detached homes was still $115,000  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
August: $1,328,100

Supply:

Compared to the same time last year supply for detached homes and condos have decreased:
Detached:  -1.1%
Condo: -19.4%
While townhouse listings have skyrocketed 87.5% potentially due to sellers trying to cash in as prices plummet.
 

Sales:

Compared to the same time last year sales decreased for both detached and condo listings:
Detached: -22.2%
Condo: -37.5%

Townhouse sales increased by 14.3% when compared to August 2021 largly due to supply increase.

Compared to July 2022 sales increased for detached and townhouse listings as buyers take advantage of declining prices:
Detached: 7 more sales than July
Townhouse: 9 more sales than July

Condo's saw 10 less sales compared to July 2022.

Townhouse Market:

The benchmark price for a townhome is $83,400 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. 

May: $1,019,000 
June: $980,300
July: $915,000
August: $905,500

Supplysaw a large decrease compared to July 2022.  

SNAPSHOT: 

Fluctuating supply & sales. Decreasing Prices. Buyers Market.