Benchmark prices are up across the board in Port Coquitlam between 22.3-35.8% over thier 2021 counterparts.
 The February benchmark for detached homes was $407,000 higher than its 2021 counterpart. 

February marks a new benchmark high for detached homes in Port Coquitalm as sale prices see a massive 30-day increase of $94,500
Detached homes break $1,500,000 for the first time.


February marks the sixth consecutive month that detached homes have set a new all time price record.
In the last sixth months detached homes have increased an average of $277,200.

 
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

While supply is increasing month over month, the market is faced with a shortage compared to the same time in 2021.
This shortage is still fueling a rapid price increase for all markets in the Tri City area.

Compared to the same time last year supply was down between 34.3-51.9%

Supply has now risen across the board for two consecutive months, indicating that the market is beginning to edge towards a balance.
Detached homes saw a 27% increase in supply over the last 30 days.
Condos saw a massive 72% increase, and townhouse supply saw a 86% increase in active listings.



Townhouse benchmark prices took a large leap forward in February for the first time since their sizable March 2021 price jump.

Townhouse sales prices increased an average of $69,200 in the last 30 days.
Prices may be beginning to close the large gap that has formed between townhomes and detached homes and a series of prices jumps may be on the way.

July: $795,300
August: $797,700
September: $814,100
October: $812,800
November: $826,500
December: $850,300
January: $870,100
February: $939,300

All time high prices across the board. Increasing supply. High demand. And predicted future increases.