Tri City Attached Home Review Comparison:
The Tri Cities are an informal grouping of the three adjacent cities of Coquitlam, Port Coquitlam, and Port Moody. The Tri Cities also includes the two villages of Anmore and Belcarra. The entire area is located in the northeast sector of Metro Vancouver, and combined, these five communities have a population of roughly 234,000 residents. With vibrant culture, abundant natural beauty, a central location, and a drive to continually evolve and elevate...it is a fantastic place to look for a home.
- All statistics below were gathered on February 10th and compared with November 6th meaning the findings represent the markets overall shift in the last 96 days.
Click Here for November 6th attached statistics comparison to September 5th
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Number of attached listings;
- Port Coquitlam: 107 (down 35)
- Coquitlam: 585 (down 29)
- Port Moody: 106 (down 8)
- For the majority of 2024 supply was at an all time high throughout Greater Vancouver
- After buyers returned to the market supply took a dip, and during our last check-in at the beginning of November supply remained balanced.
- Nearly 100 days later supply has decreased, but only slightly. Sellers are very active, and buyers are taking notice and bringing their homes to market…but there is a large number of sellers who are holding their properties in hopes of another interest rate drop and a spring filled with activity.
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List Price:
Port Coquitlam:
- High - $1,458,800 (3887 sqft townhouse)
- Low - $399,000
- Average -$725,774 (down $58,216)
- Median - $649,000 (down $50,450)
Coquitlam:
- High - $2,299,900 (pre-sale 2200 sqft penthouse)
- Low - $399,900
- Average -$895,966 (down $17,123)
- Median - $809,900 (up $10,000)
Port Moody:
- High - $2,299,800 (3bed penthouse)
- Low - $408,000
- Average -$940,004 (up $706)
- Median - $869,900 (up $11,950)
- 2024 was filled with a prolonged (April – September) mild softening period. And ended with a section of relative stability.
- As a whole prices didn’t fluctuate wildly in 2024.
- The story continues mainly the same since the last time we checked in. Yes, both Coquitlam and Port Moody have seen median price increases…but the difference of $10,000 could easily be representative of a shift in the type of available supply.
- Port Coquitlam is the outlier. It currently has over 25 listing, which is roughly a quarter of the cities supply, sitting under 550k. The city is flush with one bedroom and studio options which is driving down the median price substantially.
- The Tri Cirt area may have had an active January, but that has not yet started to move the needle on pricing.
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Days on Market:
Port Coquitlam:
- High - 239
- Low - 0
- Average - 41 (down 6)
- Median - 21 (down 14)
Coquitlam:
- High - 1305
- Low - 0
- Average - 57 (down 2)
- Median - 27 (down 9)
Port Moody:
- High - 238
- Low - 0
- Average - 34 (down 10)
- Median - 20 (down 9)
- As a whole 2024 was slow, homes were not flying off the market for the majority of the year.
- Finally, by October days on market stopped climbing upwards and the median took a minor dip.
- Three and a half months later and six weeks in to 2025 and there is not much to report. Both median and average days on market are down across the Tri City area. But the change sits at around 10 days and most homes are still taking over three weeks to sell. Stronger than 2024 was, but by no means a unreasonable speed.
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Overview:
After a very short burst of energy in early spring the market sat for most of 2024. Activity did not start to truly return until mid-October. Even with an elevated number of active buyer’s supply remained extremely high.
So far, the largest change in the 2025 market is looking to be supply. For the first time in month’s there has been a true reduction in active listings.
On November 6th 2024 we said the market was at a turning point…in hindsight righting the ship has taken longer than some may have expected. Supply and days on market will likely have to continue to come down before prices begin to push upwards in any meaningful way.
Sellers are still wary of what is in their best interest, buyers are waiting for more Bank of Canada interest rate drops. But the dominos are setting themselves up for a very active spring season.
Are you looking to purchase a condo or townhouse in the Tri Cities? Let us know the particular area and style of home you are looking for and we will keep an eye on the market for you and let you know when your perfect home is listed.
Let our knowledge and expertise ease your mind, so you don't have to stress over the details. We are here to make your life easier!