Benchmark prices are up across the board in Port Coquitlam between 23.9-30.5% over thier 2021 counterparts.
 The April benchmark for detached homes was $365,900  higher than its 2021 counterpart. 

Detached Market:

April marks the first time that detached home's benchmark pricing has decreased in 11 months. 

While it only went down $400 in a 30 day period it may indicate that the market is finally transitioning towards favoring buyers.
 
Detached home benchmark pricing:

July 2021: $1,241,000
August:$1,249,300
September: $1,265,400
October: $1,289,000
November: $1,323,500
December: $1,365,200
January2022: $1,448,100
February: $1,542,600
March: $1,615,000
April: $1,614,600

Part of the reason that detached homes pricing has finally started to level out is an increase in supply. 
Detached homes supply has increase by 24% in the past 30 days; resulting in 18 more listing in April compared to February.

Despite detached home's jump in supply the market is still facing a supply shortage compared to the same time in 2021.

Supply:

Compared to the same time last year supply was down between 25.6-47.2%

Supply has now risen for detached homes and townhouses for four consecutive months.
We continue to edge towards a balanced market.

Sales:

Sales fluctuate as the market holds in anticipation of a transition.
Detached home sales are down 52% compared to the same time last year. Condos are down 30.4%. And townhouses are up 57.1%.

Townhouse Market:

 The benchmark price for a townhouse increased $30,900 in the last 30 days and the average Port Coquitlam townhouse now costs over a million for the first time.

The benchmark price for a townhome is $235,900 higher than the same time last year.

November: $826,500
December: $850,300
January: $870,100
February: $939,300
March: $979,900
April: $1,010,600

SNAPSHOT: 

Generally increasing supply. Fluctuating demand. Townhomes Thrive. A market in transition.