For a second consecutive month, Port Moody was a hot spot for real estate.
While attached homes were the popular buy in July, prospective homeowners sought apartments in the city for August — so much so that it led to a 40.9% increase month-to-month.
The 31 sold signs posted in this category contributed to a grand total of 443 in the Tri-Cities and also represents a 3% increase in sales compared to August 2020.
There were 488 local listings for apartments, detached and attached residences last month, according to the latest report from the Real Estate Board of Greater Vancouver (REBGV).
In Coquitlam, there were 287 homes sold; 99 in Port Coquitlam and 57 in Port Moody/Belcarra, making an 8% decrease in sales compared to 488 in July this year.
Meanwhile, supply in Metro Vancouver has dwindled all summer and prices are continuing to rise as August home sales totalled 3,152, a 3.4% increase from 3,047 last August, but a 5.2% decrease from 3,326 in July.
REBGV economist Keith Stewart says the figures indicate that housing supply has become one of the biggest issues facing the market.
“August was busier than expected, and listings activity isn’t keeping up with the pace of demand," he says in a release.
"This is leaving the market under supplied."
For more extensive data and information, you can visit the real estate board'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 = $1,093,400
- Price Index = 325
- One-month = -0.1%
- Three-month = 0.5%
- Six-month = 9.5%
- One-year = 16.2%
- Three-year = 11.1%
- Five-year = 37%
- 10-year = 117.7%
PORT COQUITLAM
- Benchmark price = $924,300
- Price Index = 316.4
- One-month = -0.2%
- Three-month = 0.1%
- Six-month = 10.6%
- One-year = 19%
- Three-year = 16.9%
- Five-year = 45.1%
- 10-year = 117.5%
PORT MOODY
- Benchmark price = $1,061,100
- Price Index = 298.4
- One-month = 0.7%
- Three-month = 1.4%
- Six-month = 9.9%
- One-year = 17%
- Three-year = 10.1%
- Five-year = 38.9%
- 10-year = 115.1%
Single-family detached
COQUITLAM
- Benchmark price = $1,508,600
- Price Index = 334.8
- One-month = 0.2%
- Three-month = 0.6%
- Six-month = 10.7%
- One-year = 22.7%
- Three-year = 15.6%
- Five-year = 22.7%
- 10-year = 119%
PORT COQUITLAM
- Benchmark price = $1,249,300
- Price Index = 333.1
- One-month = 0.7%
- Three-month = -0.3%
- Six-month = 10%
- One-year = 25.7%
- Three-year = 23.9%
- Five-year = 37%
- 10-year = 126.8%
PORT MOODY
- Benchmark price = $1,855,700
- Price Index = 342.7
- One-month = -0.4%
- Three-month = 1.9%
- Six-month = 12.1%
- One-year = 26.5%
- Three-year = 21.4%
- Five-year = 33.3%
- 10-year = 124.3%
Townhouses
COQUITLAM
- Benchmark price = $848,900
- Price Index = 311.4
- One-month = 0.2%
- Three-month = 1.8%
- Six-month = 11.6%
- One-year = 17.9%
- Three-year = 17%
- Five-year = 48.5%
- 10-year = 109.6%
PORT COQUITLAM
- Benchmark price = $797,700
- Price Index = 302
- One-month = 0.3%
- Three-month = 2.2%
- Six-month = 14.4%
- One-year = 21.5%
- Three-year = 19.5%
- Five-year = 43.3%
- 10-year = 110.3%
PORT MOODY
- Benchmark price = $766,300
- Price Index = 260.6
- One-month = 0.7%
- Three-month = 1.8%
- Six-month = 13.1%
- One-year = 15.1%
- Three-year = 7.8%
- Five-year = 39.8%
- 10-year = 81.1%
Apartments
COQUITLAM
- Benchmark price = $586,600
- Price Index = 321.9
- One-month = -0.4%
- Three-month = -0.2%
- Six-month = 7.4%
- One-year = 10.9%
- Three-year = 6.2%
- Five-year = 58.2%
- 10-year = 124.2%
PORT COQUITLAM
- Benchmark price = $523,200
- Price Index = 312.9
- One-month = -1.1%
- Three-month = -0.8%
- Six-month = 8.7%
- One-year = 13%
- Three-year = 10.9%
- Five-year = 59.9%
- 10-year = 115.3%
PORT MOODY
- Benchmark price = $723,000
- Price Index = 301.3
- One-month = 1.5%
- Three-month = 1.2%
- Six-month = 7.6%
- One-year = 13.8%
- Three-year = 7.5%
- Five-year = 51.6%
- 10-year = 139.5%
- with files from The Canadian Press
