Port Coquitlam beat out Coquitlam and Port Moody for biggest price gains in housing over the last month.
That statistic from the Real Estate Board of Greater Vancouver's (REBGV) latest report comes as PoCo's market appears to be rebounding.
For example, just 10 days ago, someone listed a large 1960s family home with an in-ground pool on rew.ca. for nearly $1.7 million.
The listing shows a well-kept single-family detached house on a more than 8,000 sq-ft. lot.
Located in the Glenwood neighbourhood, at 3490 Edinburgh St., the home is listed at $1.699 million, about 12 per cent more than the 2022 assessment by the BC Assessment Authority.
According to REBGV, prices rose in May as sales across the Lower Mainland reflected more closely the average spring real estate market.
This is despite a series of interest rate hikes that began last year.
“Back in January, few people would have predicted prices to be up as much as they are — ourselves included,” stated Andrew Lis, REBGV’s director of economics and data analytics said.
“Our forecast projected prices to be up modestly in 2023 by about two per cent at year-end. Instead, Metro Vancouver home prices are already up about six per cent or more across all home types at the midway point of the year.”
Figures for Port Coquitlam, Coquitlam and Port Moody show prices rose last month.
PoCo saw the biggest gains, compared to its sister cities, with prices increasing 2.8 per cent for detached houses, compared to April.
Similarly, prices for townhouses and apartments rose 2.2 per cent — higher than price increases for Coquitlam and Port Coquitlam (see numbers below).
Legal suite
Some of the details of the Edinburgh Street home include:
- Price - $1,699 million
- Age - 55 (built in 1968)
- Size - 3,638 sq. ft.
- Lot size - 8,000+ sq ft corner lot, with detached garage
- 120-240V for potential EV charging/workshop and heated in-ground pool
- Main level features four bedrooms, including master with four piece ensuite, vaulted ceilings
- Legal three-bedroom basement suite in basement as mortgage helper
Find out more about the listing by Darcy Schlechtleitner, PREC on the REW.ca website.
Here are the price increases by city, for housing between April and May 2023.
Detached
- Coquitlam = $1,755,500 (1.6%)
- Port Coquitlam = $1,392,100 (2.8%)
- Port Moody = $2,007,600 (0.5%)
Townhouse
- Coquitlam = $1,058,700 (1.0%)
- Port Coquitlam = $928,900 (2.2%)
- Port Moody = $1,042,100 (1.3%)
Apartment
- Coquitlam = $1,058,700 (1.0%)
- Port Coquitlam = $928,900 (2.2%)
- Port Moody = $1,042,100 (1.3%)
