There was some good news for the Tri-Cities' real estate market.
February saw a 49 per cent increase to 455 home sales across Coquitlam, Port Coquitlam and Port Moody-Belcarra, compared to 305 in January, among 714 total listings.
Attached Coquitlam houses and Port Moody apartments were the popular purchases, according to the Real Estate Board of Greater Vancouver's (REBGV) latest report, at 141 and 73 per cent monthly jumps.
However, the sub-region experienced a decline in yearly sales.
In February 2021, the Tri-Cities sold 523 residences among 671 listings — a 13 per cent decrease in comparison with last month.
REBGV Chair Taylor Biggar says as the region gears up for what is expected to be a busy spring, must be prepared for "a modest uptick in home listing activity."
"A lack of housing supply is at the heart of the affordability challenges in Metro Vancouver today," says Biggar in a statement.
"We need more coordinated action from stakeholders at all levels to help create an ample, diverse supply of housing options for residents in the region today and into the future."
Broken down, there were 264 units sold in Coquitlam in February, 108 in Port Coquitlam and 83 in Port Moody-Belcarra.
Metro Vancouver saw a total of 3,424 homes sold last month out of 5,471 listings for apartments, detached and attached homes, which is an 8.1 per cent decrease from 2021.
For detailed more information, you can visit the REBGV’s website.
The following numbers show Tri-City benchmark prices, monthly and yearly changes as well as price index according to MLS Home Price Index data:
Residential
COQUITLAM
- Benchmark price = $1,265,700
- Price Index = 376.2
- One-month = 5.2%
- Three-month = 11.1%
- Six-month = 15.8%
- One-year = 26.7%
- Three-year = 37.9%
- Five-year = 62.5%
- 10-year = 154.4%
PORT COQUITLAM
- Benchmark price = $1,085,600
- Price Index = 371.6
- One-month = 6.2%
- Three-month = 12.4%
- Six-month = 17.4%
- One-year = 29.9%
- Three-year = 43.5%
- Five-year = 73.7%
- 10-year = 158.4%
PORT MOODY
- Benchmark price = $1,177,700
- Price Index = 331.2
- One-month = 4.3%
- Three-month = 8.4%
- Six-month = 11%
- One-year = 21.9%
- Three-year = 32.7%
- Five-year = 53.8%
- 10-year = 142.1%
Single-family detached
COQUITLAM
- Benchmark price = $1,744,200
- Price Index = 387.1
- One-month = 4.1%
- Three-month = 10.5%
- Six-month = 15.6%
- One-year = 28%
- Three-year = 47.5%
- Five-year = 55.6%
- 10-year = 153.3%
PORT COQUITLAM
- Benchmark price = $1,542,600
- Price Index = 411.3
- One-month = 6.5%
- Three-month = 16.5%
- Six-month = 23.5%
- One-year = 35.8%
- Three-year = 66.2%
- Five-year = 79.3%
- 10-year = 181.5%
PORT MOODY
- Benchmark price = $2,102,100
- Price Index = 388.2
- One-month = 4%
- Three-month = 9.9%
- Six-month = 13.3%
- One-year = 26.9%
- Three-year = 49.7%
- Five-year = 56.8%
- 10-year = 157.8%
Townhouses
COQUITLAM
- Benchmark price = $1,002,100
- Price Index = 367.6
- One-month = 6.8%
- Three-month = 12.6%
- Six-month = 18%
- One-year = 31.7%
- Three-year = 46.7%
- Five-year = 64.3%
- 10-year = 155.1%
PORT COQUITLAM
- Benchmark price = $939,300
- Price Index = 355.6
- One-month = 8%
- Three-month = 13.6%
- Six-month = 17.7%
- One-year = 34.6%
- Three-year = 51.2%
- Five-year = 73.3%
- 10-year = 145.7%
PORT MOODY
- Benchmark price = $867,500
- Price Index = 295
- One-month = 5.9%
- Three-month = 11.3%
- Six-month = 13.2%
- One-year = 28%
- Three-year = 34.3%
- Five-year = 59.1%
- 10-year = 115.8%
Apartments
COQUITLAM
- Benchmark price = $674,400
- Price Index = 370.1
- One-month = 5.4%
- Three-month = 11.1%
- Six-month = 15%
- One-year = 23.4%
- Three-year = 28.9%
- Five-year = 72.8%
- 10-year = 159.7%
PORT COQUITLAM
- Benchmark price = $588,400
- Price Index = 351.9
- One-month = 4.8%
- Three-month = 8.4%
- Six-month = 12.5%
- One-year = 22.3%
- Three-year = 25.4%
- Five-year = 72.8%
- 10-year = 151.7%
PORT MOODY
- Benchmark price = $784,400
- Price Index = 326.9
- One-month = 3.8%
- Three-month = 5.8%
- Six-month = 8.5%
- One-year = 16.8%
- Three-year = 25.5%
- Five-year = 56.6%
- 10-year = 155.4%
