While every other form of real estate in the Tri-City area saw month-to-month sales decrease, there was one category that stood out for prospective home buyers.
In July 2021, Port Moody-Belcarra attached homes were the only sales that saw any kind of increase: 51.6% from June after 47 listings were sold.
As well, the Real Estate Board of Greater Vancouver (REBGV) says the sub-region saw a year-over-year bump of 80.7% compared to July 2020.
Apartments in Coquitlam were also popular and recorded the only other increase in local home sales at 22.4% year-over-year.
However, real estate sales in the Tri-Cities decreased altogether by 13.7% between June and July 2021 after 484 homes were purchased among 526 total listings of apartments, and detached and attached homes.
Breaking down the numbers, the REBGV says there were 292 homes sold in Coquitlam, 102 in Port Coquitlam and 90 in Port Moody-Belcarra, and also represents a 2.8% year-over-year decrease compared to 498 sales in July 2020.
Across Metro Vancouver, the REBGV says home sales totalled 3,326 last month, a 6.3 per cent increase from the 3,128 sales recorded in July 2020 and an 11.6 per cent drop from the 3,762 homes sold in June 2021.
Sales were also 13.3 per cent above the 10-year July sales average and Keith Stewart says the figures show price growth has levelled off in most areas and home types.
“Moderation was the name of the game in July,” the REGBV economist said in a release from Wednesday (Aug. 4).
“Home sales and listings fell in line with typical seasonal patterns as summer got going in earnest in July."
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 = $1,094,800
- Price Index = 325.4
- One-month = 0.2%
- Three-month = 2.2%
- Six-month = 12.6%
- One-year = 16.4%
- Three-year = 11.2%
- Five-year = 37.9%
- 10-year = 117.7%
PORT COQUITLAM
- Benchmark price = $925,800
- Price Index = 316.9
- One-month = 0.3%
- Three-month = 1.3%
- Six-month = 15%
- One-year = 19.9%
- Three-year = 15.2%
- Five-year = 46.6%
- 10-year = 117.1%
PORT MOODY
- Benchmark price = $1,053,300
- Price Index = 296.2
- One-month = 0.1%
- Three-month = 1.4%
- Six-month = 11.4%
- One-year = 14.5%
- Three-year = 8.9%
- Five-year = 39.1%
- 10-year = 112.9%
Single-family detached
COQUITLAM
- Benchmark price = $1,505,400
- Price Index = 334.1
- One-month = 0.2%
- Three-month = 1.8%
- Six-month = 14%
- One-year = 22.6%
- Three-year = 15%
- Five-year = 22.6%
- 10-year = 118.2%
PORT COQUITLAM
- Benchmark price = $1,241,000
- Price Index = 330.9
- One-month = 0.7%
- Three-month = -0.6%
- Six-month = 13.4%
- One-year = 26.6%
- Three-year = 22.1%
- Five-year = 34.4%
- 10-year = 124.2%
PORT MOODY
- Benchmark price = $1,863,800
- Price Index = 344.2
- One-month = 0.7%
- Three-month = 2.7%
- Six-month = 16.4%
- One-year = 29.3%
- Three-year = 21.8%
- Five-year = 33.5%
- 10-year = 125.3%
Townhouses
COQUITLAM
- Benchmark price = $847,300
- Price Index = 310.8
- One-month = 0.5%
- Three-month = 3.0%
- Six-month = 14.2%
- One-year = 17.7%
- Three-year = 14.1%
- Five-year = 47.6%
- 10-year = 108.6%
PORT COQUITLAM
- Benchmark price = $795,300
- Price Index = 301.1
- One-month = 0.6%
- Three-month = 2.7%
- Six-month = 20.3%
- One-year = 21.7%
- Three-year = 15.9%
- Five-year = 46.3%
- 10-year = 108.8%
PORT MOODY
- Benchmark price = $761,000
- Price Index = 258.8
- One-month = 1.2%
- Three-month = 2.9%
- Six-month = 13.6%
- One-year = 15.5%
- Three-year = 7%
- Five-year = 37.4%
- 10-year = 78.4%
Apartments
COQUITLAM
- Benchmark price = $588,900
- Price Index = 323.2
- One-month = 0%
- Three-month = 2.2%
- Six-month = 10.5%
- One-year = 11.3%
- Three-year = 7.3%
- Five-year = 62.4%
- 10-year = 124.3%
PORT COQUITLAM
- Benchmark price = $528,900
- Price Index = 316.3
- One-month = -0.2%
- Three-month = 2.1%
- Six-month = 13%
- One-year = 14.5%
- Three-year = 10%
- Five-year = 67.1%
- 10-year = 117.2%
PORT MOODY
- Benchmark price = $712,200
- Price Index = 296.8
- One-month = -0.5%
- Three-month = 0.6%
- Six-month = 8.2%
- One-year = 7.7%
- Three-year = 5.1%
- Five-year = 54.2%
- 10-year = 135.2%
- with files from The Canadian Press
