Higher interest rates have yet to slow real estate sales in Coquitlam this summer, according to the latest statistics.
The Real Estate Board of Greater Vancouver (REBGV) said purchasers seem to have adapted to higher interest rates.
REBGV spokesperson Andrew Lis explained the "not insignificant" year-over-year bump in sales corresponds with the shock felt in 2022 from the Bank of Canada's steep rate hikes.
"Looking under the hood of these figures, it's easy to see why sales are posting such a large year-over-year percentage increase," he said in a statement.
"Last July marked the point when the Bank of Canada announced their 'super-sized' increase to the policy rate of one full per cent, catching buyers and sellers off guard, and putting a chill on market activity at that time."
Summer sales of Coquitlam homes
Dozens of properties changed hands in the last 30 days, according to Zealty.ca, including studios in new condo towers that sold for $365,000 and more expensive single family houses selling for $3 million or more.
The increase in sales compared to last year comes as a bit of a surprise as the Bank of Canada increased its key rate to five per cent, the highest level since 2001.
However, most financial institutions are predicting no change to the key rate in September.
Here's a list of the least expensive and most expensive sold in Coquitlam in the last 30 days.
Apartment/Condo
Least expensive - $365,000
307-901 Lougheed Hwy. (Maillardville)
- Sold = Aug. 1, five days on market
- Size = 350 sq-ft. studio
An assignment sale before the move-in date, this condo is in Maillardville's newest high-rise.
It features 13,000 sq-ft. of amenities including a theatre, gym, yoga studio, sauna and a roof top lounge with panoramic views.
Most expensive - $1.59 million
2301-585 Austin Ave., Wynwood Green South Tower
- Sold = July 6, 13 days on market
- Size = 1,335 sq. ft.
- A new build, this condo has three bedrooms, a den and 3.5 baths, with an interior space of 1,335 sq. ft. and an exterior space of 395 sq. ft., for a total of 1,730 sq. ft. The tower is by Anthem and overlooks the Vancouver Golf Course.
Townhome
Least expensive - $580,000
- Sold = July 12, 13 days on the market
- Size = 960 sq. ft.
- Two bedroom, two bathroom home in 35-year-old townhome complex, situated close to a green belt and schools.
Most expensive - $1.58 million
101 3489 Baycrest Ave. (Burke Mountain)
- Sold = July 21
- Size = 2,083 sq. ft.
- New, four bedroom, four bathroom town home with double garage, Kitchen Aid appliance package, vaulted ceilings, spacious outdoor living.
Detached home
Least expensive - $1.06 million
1254 Hornby St. (New Horizon)
- Sold = July 19, 25 days on market
- Size = 1,808 sq-ft. house on 4,019 sq-ft. property.
- The 43-year-old three bedroom, three bathroom, two-storey house is located a short walk to buses, SkyTrain, Town Centre Park, Lafarge Lake and features recent updates and a fenced backyard.
Most expensive - $3,550,000
1374 Kingston St. (Burke Mountain)
- Sold= July 12, 49 days on market
- Size = 6,733 sq-ft. house on 10,764 sq-ft. lot
- Newly built, eight bedroom, nine bathroom, two storey house (with basement), features views, a great room, chef kitchen and spice kitchen, basement has media room with wet bar, one legal two bedroom suite with full bath and laundry and another one bedroom suite. Another bedroom with en-suite and separate entrance has suite potential.
- with a file from Kyle Balzer, Tri-City News
