The Tri-City housing market saw a drop in sales for the month of December compared to the same time a year earlier.
There were 369 sold signs posted across the region as 2021 came to a close, which marked a 25 per cent decrease from 489 in December 2020.
Broken down by the Real Estate Board of Greater Vancouver (REBGV), Coquitlam sold 211 properties — that's attached and detached houses, as well as apartments.
Port Coquitlam garnered 106 sales, a two per cent increase from December 2020, while Port Moody/Belcarra recorded 52.
According to the REBGV, every form of real estate in the region saw a decline in sales over the final two months of the year, but two stood out above the rest for prospective owners and buyers.
Port Moody/Belcarra apartments were still relatively popular as 33 were sold for a modest three per cent monthly increase from November — a giant leap compared to a decrease of 27 per cent the field saw in December 2020 in the middle of the COVID-19 pandemic.
As well, attached Port Coquitlam homes matched the 26 sales it recorded in December last year, bringing the stat back to even par after a 37 per cent drop.
There were 253 new listings in the Tri-Cities last month.
Meanwhile, sales across all of Metro Vancouver hit an all-time high last year spurred by changing housing needs during the pandemic.
The REGBV says 2021 sales rose 42.2 per cent to 43,999 compared with 30,944 the year before.
That broke a six-year record set in 2015 with 42,326 home sales.
"Home has been a focus for residents throughout the pandemic," explained REBGV economist Keith Stewart in a news release earlier this week, noting regional residents have been assessing their housing needs and options in record numbers in the last few years.
"While steady, home listing activity didn't keep pace with the record demand we saw throughout 2021. This imbalance caused residential home prices to rise over the past 12 months."
For more extensive data and 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 = $1,162,400
- Price Index = 345.5
- One-month = 2.1%
- Three-month = 5.2%
- Six-month = 6.4%
- One-year = 21%
- Three-year = 25.7%
- Five-year = 52%
- 10-year = 135.2%
PORT COQUITLAM
- Benchmark price = $988,000
- Price Index = 338.2
- One-month = 2.3%
- Three-month = 5.8%
- Six-month = 7%
- One-year = 24%
- Three-year = 31.6%
- Five-year = 61.9%
- 10-year = 134.9%
PORT MOODY
- Benchmark price = $1,115,900
- Price Index = 313.8
- One-month = 2.7%
- Three-month = 4.7%
- Six-month = 6.1%
- One-year = 18.9%
- Three-year = 22.2%
- Five-year = 47.5%
- 10-year = 132.1%
Single-family detached
COQUITLAM
- Benchmark price = $1,616,200
- Price Index = 358.7
- One-month = 2.4%
- Three-month = 6.6%
- Six-month = 7.6%
- One-year = 25.1%
- Three-year = 33.1%
- Five-year = 43.7%
- 10-year = 137.2%
PORT COQUITLAM
- Benchmark price = $1,365,200
- Price Index = 364
- One-month = 3.1%
- Three-month = 7.9%
- Six-month = 10.7%
- One-year = 29.4%
- Three-year = 44.2%
- Five-year = 60.9%
- 10-year = 150.7%
PORT MOODY
- Benchmark price = $1,948,800
- Price Index = 359.9
- One-month = 1.9%
- Three-month = 4.8%
- Six-month = 5.3%
- One-year = 24.2%
- Three-year = 31.2%
- Five-year = 44.1%
- 10-year = 142.5%
Townhouses
COQUITLAM
- Benchmark price = $904,500
- Price Index = 331.8
- One-month = 1.6%
- Three-month = 4.7%
- Six-month = 7.3%
- One-year = 23.3%
- Three-year = 29.5%
- Five-year = 56.6%
- 10-year = 130.3%
PORT COQUITLAM
- Benchmark price = $850,300
- Price Index = 321.9
- One-month = 2.9%
- Three-month = 4.4%
- Six-month = 7.5%
- One-year = 28.7%
- Three-year = 34.2%
- Five-year = 58.4%
- 10-year = 122.3%
PORT MOODY
- Benchmark price = $793,700
- Price Index = 269.9
- One-month = 1.8%
- Three-month = 3.8%
- Six-month = 5.6%
- One-year = 18.3%
- Three-year = 17.6%
- Five-year = 50.7%
- 10-year = 97.6%
Apartments
COQUITLAM
- Benchmark price = $619,000
- Price Index = 339.7
- One-month = 2%
- Three-month = 4.3%
- Six-month = 5.1%
- One-year = 16.8%
- Three-year = 19.3%
- Five-year = 64.8%
- 10-year = 139.6%
PORT COQUITLAM
- Benchmark price = $550,000
- Price Index = 328.9
- One-month = 1.3%
- Three-month = 4.9%
- Six-month = 3.8%
- One-year = 17.2%
- Three-year = 21.9%
- Five-year = 69%
- 10-year = 132.3%
PORT MOODY
- Benchmark price = $767,600
- Price Index = 319.9
- One-month = 3.6%
- Three-month = 5.2%
- Six-month = 7.2%
- One-year = 16.9%
- Three-year = 22%
- Five-year = 56.7%
- 10-year = 154.5%
- with files from The Canadian Press
