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Coquitlam apartments a popular buy in June despite slight decrease across all Tri-City real estate

Regional year-over-year home sales went up by 35% in the latest update from the Real Estate Board of Greater Vancouver.
Sales of homes in December up 10 per cent from same month last year
Another home sold. | File photo

The regional real estate market eased in June from its record-setting pace in March and April.

A total of 561 home sales took place last month across the Tri-Cities among 763 listings for detached and attached residences, as well as apartments across Coquitlam, Port Coquitlam and Port Moody/Belcarra.

According to the Real Estate Board of Greater Vancouver (REBGV), the benchmark price for all residential properties in the Tri-Cities averaged nearly $989,500.

This represented a 35% increase in the region's market compared to June 2020, but an 8% decrease from May 2021.

In Coquitlam, apartments were the popular buy at a 13.8% increase between May and June.

In Port Coquitlam and Port Moody, more new homeowners sought detached residences at modest 3.9% and 3.7% increases month over month respectively.

There was also an urge to buy attached homes in Port Moody; sales of those increased 14.8% from May to June.

Across Metro Vancouver, the number of homes sold in the region totalled 3,762 in June, up 54 per cent from the 2,443 sales recorded a year earlier, but down 11.9 per cent from the 4,268 sold in May 2021.

Sales last month were 18.4 per cent above the 10-year June sales average.

“Metro Vancouver’s housing market continues to experience strong seller’s market conditions, although the intensity of demand has eased from what we saw throughout most of the spring,” REBGV economist Keith Stewart said.

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 = $1,092,100 
  • Price Index = 324.6
  • One-month = 0.4%
  • Three-month = 5.2% 
  • Six-month = 13.7%
  • One-year = 16.7%
  • Three-year = 10.6%
  • Five-year = 38.5%
  • 10-year = 117.4%

PORT COQUITLAM

  • Benchmark price = $923,100
  • Price Index = 316.0
  • One-month = -0.1%
  • Three-month = 3.7%
  • Six-month = 15.9%
  • One-year = 20.3%
  • Three-year = 13.5%
  • Five-year = 49.7%
  • 10-year = 117.2%

PORT MOODY

  • Benchmark price = $1,051,900
  • Price Index = 295.8 
  • One-month = 0.5%
  • Three-month = 4.6% 
  • Six-month = 12.0%
  • One-year = 13.8%
  • Three-year = 6.7%
  • Five-year = 40.7%
  • 10-year = 113.7%

Single-family detached

COQUITLAM

  • Benchmark price = $1,501,800
  • Price Index = 333.3 
  • One-month = 0.2%
  • Three-month = 4.7%
  • Six-month = 16.3%
  • One-year = 24.0%
  • Three-year = 14.3%
  • Five-year = 23.2%
  • 10-year = 119.3%

PORT COQUITLAM

  • Benchmark price = $1,232,800
  • Price Index = 328.7
  • One-month = -1.6%
  • Three-month = 0.5%
  • Six-month = 16.9%
  • One-year = 27.0%
  • Three-year = 19.7%
  • Five-year = 33.8%
  • 10-year = 123.3%

PORT MOODY

  • Benchmark price = $1,850,300
  • Price Index = 341.7
  • One-month = 1.6%
  • Three-month = 6.4%
  • Six-month = 17.9%
  • One-year = 26.5%
  • Three-year = 19.2%
  • Five-year = 34.1%
  • 10-year = 124.8%

Townhouses

COQUITLAM

  • Benchmark price = $843,200
  • Price Index = 309.3
  • One-month = 1.1%
  • Three-month = 6.3%
  • Six-month = 14.9%
  • One-year = 15.9%
  • Three-year = 14.3%
  • Five-year = 47.0%
  • 10-year = 110.7%

PORT COQUITLAM

  • Benchmark price = $790,900
  • Price Index = 299.4
  • One-month = 1.3%
  • Three-month = 4.9%
  • Six-month = 19.7%
  • One-year = 22.2%
  • Three-year = 15.0%
  • Five-year = 52.8%
  • 10-year = 108.4%

PORT MOODY

  • Benchmark price = $751,900
  • Price Index = 255.7
  • One-month = -0.1%
  • Three-month = 7.4%
  • Six-month = 12.1%
  • One-year = 12.3%
  • Three-year = 7.4%
  • Five-year = 34.2%
  • 10-year = 77.6%

Apartments

COQUITLAM

  • Benchmark price = $588,800
  • Price Index = 323.1
  • One-month = 0.1%
  • Three-month = 5.0%
  • Six-month = 11.1%
  • One-year = 11.9%
  • Three-year = 6.6%
  • Five-year = 64.1%
  • 10-year = 120.8%

PORT COQUITLAM

  • Benchmark price = $529,900
  • Price Index = 316.9
  • One-month = 0.5%
  • Three-month = 5.7%
  • Six-month = 12.9%
  • One-year = 14.9%
  • Three-year = 8.3%
  • Five-year = 74.8%
  • 10-year = 118.6%

PORT MOODY

  • Benchmark price = $716,000
  • Price Index = 298.4
  • One-month = 0.2%
  • Three-month = 2.7%
  • Six-month = 9.1%
  • One-year = 8.9%
  • Three-year = 2.0%
  • Five-year = 60.0%
  • 10-year = 137.4%

- with files from The Canadian Press