Benchmark prices are up across the board in Port Coquitlam between 20-32.3% over thier 2021 counterparts.
 The January benchmark for detached homes was $353,700 higher than its 2021 counterpart. 

January marks a new benchmark high for detached homes in Port Coquitalm as sale prices see a massive 30-day increase of $82,900

A shortage of stock is fueling a rapid price increase for all markets in the Tri City area.

Detached homes benchmark pricing is now $195,100 above May's previous all time record high.
January marks the 7th month of pricing increases after prices took a significant dip, of $20,200, in June 

 
Detached home benchmark pricing:

May2021: $1,253,000
June: $1,232,800
July: $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

With low stock continuing to plague the market, prices will likely to continue to trend upward at a steady pace.
Compared to the same time last year supply was down between 35.2-74.3%

When compared to December 2021, supply has shown signs that it is beginning to break its downward trend.
Detached homes saw a 16% increase in supply over the last 30 days. 
Condos saw a 12% increase, and townhouse supply saw a 40% increase in active listings (from 5 to 7).


Even with record low supply the market remains very busy, with sales numbers nearly identical to January 2021.
This means homes-mostly-sell without fail in multiple offers. 


Townhouse benchmark prices have been slowly creeping up since their March 2021 price jump. 
After six months of trending upwards prices leveled in October before seeing another price bump in December, and steady growth in January.

February: $697,600
March: $753,600
April: $774,700
May: $780,000
June: $790,900
July: $795,300
August: $797,700
September: $814,100
October: $812,800
November: $826,500
December: $850,300
January: $870,100

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