There were 50 apartments up for sale in Port Moody last month.
But despite a 15 per cent decrease compared to February's listings, each and every one of them sold.
This aided in the region's 42 per cent uptick in all sales after a total of 644 homes sold from 952 listings across Coquitlam, Port Coquitlam and Port Moody/Belcarra compared to 455 in February.
The 50 Port Moody apartments sold was a 47 per cent increase and right on par with the 211 Coquitlam apartments that got a red sticker, according to the Real Estate Board of Greater Vancouver (REBGV).
Attached Port Coquitlam houses were the most popular purchase with a 63 per cent increase in March.
While month-to-month sales saw a "calmer pace," annual figures are still down from 2021.
The Tri-Cities, for example, saw 792 homes sold the same month last year and a combined 19 per cent average drop.
Metro Vancouver saw a total of 4,344 residences sold in March — a 24 per cent decrease from last year (5,708), but a 27 per cent increase from 3,424 in February.
"We’re still seeing upward pressure on prices across all housing categories in the region. Lack of supply is driving this pressure," said REBGV board chair Daniel John in a statement today (April 4).
"The number of homes listed for sale on our MLS system today is less than half of what’s needed to shift the market into balanced territory."
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 = $1,325,900
- Price Index = 394.1
- One-month = 4.8%
- Three-month = 14.1%
- Six-month = 20%
- One-year = 27.7%
- Three-year = 46.1%
- Five-year = 65.7%
- 10-year = 163.8%
PORT COQUITLAM
- Benchmark price = $1,146,600
- Price Index = 392.5
- One-month = 5.6%
- Three-month = 16.1%
- Six-month = 22.8%
- One-year = 28.9%
- Three-year = 53.9%
- Five-year = 77.7%
- 10-year = 168.7%
PORT MOODY
- Benchmark price = $1,256,300
- Price Index = 353.3
- One-month = 6.7%
- Three-month = 12.6%
- Six-month = 17.9%
- One-year = 24.9%
- Three-year = 39.8%
- Five-year = 62%
- 10-year = 156%
Single-family detached
COQUITLAM
- Benchmark price = $1,833,400
- Price Index = 406.9
- One-month = 5.1%
- Three-month = 13.4%
- Six-month = 20.9%
- One-year = 27.9%
- Three-year = 57.8%
- Five-year = 59.1%
- 10-year = 162.9%
PORT COQUITLAM
- Benchmark price = $1,615,000
- Price Index = 430.6
- One-month = 4.7%
- Three-month = 18.3%
- Six-month = 27.6%
- One-year = 31.7%
- Three-year = 75.4%
- Five-year = 81.5%
- 10-year = 192.1%
PORT MOODY
- Benchmark price = $2,273,700
- Price Index = 419.9
- One-month = 8.2%
- Three-month = 16.7%
- Six-month = 22.3%
- One-year = 30.7%
- Three-year = 62.1%
- Five-year = 68.6%
- 10-year = 178.3%
Townhouses
COQUITLAM
- Benchmark price = $1,054,200
- Price Index = 386.7
- One-month = 5.2%
- Three-month = 16.5%
- Six-month = 22.1%
- One-year = 32.9%
- Three-year = 59%
- Five-year = 70%
- 10-year = 168.4%
PORT COQUITLAM
- Benchmark price = $979,700
- Price Index = 370.9
- One-month = 4.3%
- Three-month = 15.2%
- Six-month = 20.3%
- One-year = 30%
- Three-year = 59.6%
- Five-year = 76.2%
- 10-year = 153.7%
PORT MOODY
- Benchmark price = $924,500
- Price Index = 314.4
- One-month = 6.6%
- Three-month = 16.5%
- Six-month = 21%
- One-year = 32.1%
- Three-year = 43.2%
- Five-year = 68.2%
- 10-year = 127.3%
Apartments
COQUITLAM
- Benchmark price = $704,300
- Price Index = 386.5
- One-month = 4.4%
- Three-month = 13.8%
- Six-month = 18.6%
- One-year = 25.6%
- Three-year = 34.7%
- Five-year = 74.6%
- 10-year = 169%
PORT COQUITLAM
- Benchmark price = $631,100
- Price Index = 377.4
- One-month = 7.2%
- Three-month = 14.7%
- Six-month = 20.4%
- One-year = 25.8%
- Three-year = 37.2%
- Five-year = 78.9%
- 10-year = 161.5%
PORT MOODY
- Benchmark price = $828,600
- Price Index = 345.3
- One-month = 5.6%
- Three-month = 7.9%
- Six-month = 13.5%
- One-year = 18.8%
- Three-year = 29.7%
- Five-year = 61.7%
- 10-year = 166.4%
- with files from The Canadian Press
