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In-law suite, park view and putting green puts price of this Port Coquitlam home into the stratosphere

Luxury homes in Port Coquitlam are commanding top dollar but modest townhomes and apartments are selling for more than asking during the current real estate market

Port Coquitlam’s real estate market continues to post price gains for property owners, with some homes going for top dollar.

A look at four neighbourhoods in the city — downtown Port Coquitlam, Citadel Heights, Mary Hill and Glenwood — shows some properties are still being sold well above the asking price.

The website Zealty.ca shows that over the past two weeks, most properties are being sold for more than originally offered, with very few exceptions.

Buyers of Port Coquitlam homes are shelling out between five and 20 per cent more than the original listed price for apartments, townhomes and single family units in the city in early 2022.

But while most bids are less than 10 per cent over asking, one spectacular home in Citadel Heights sold for more than 20 per cent above the price.

CITADEL HEIGHTS SALES

A six-bedroom, 3,500 sq-ft. home home backing on to Castle Park sold in mid-February for $2.42 million — $437,000 or 22 per cent over-asking.

Open concept, with a family room and renovated kitchen, the home located at 2138 Drawbridge Close also has a two-bedroom self-contained in-law suite and a yard with a putting green.

Meanwhile, on the city’s northeast side, a Glenwood custom-built home sold at 16 per cent over-asking.

The six-bedroom single family home at 1542 Manning Ave., sold for $2.3 million — $325,112 (16 per cent) more than initially priced.

The Manning home featured a chef's kitchen and an extra "spice" kitchen, as well as a basement includes two mortgage helpers, each with their own laundry. 

MARY HILL NEIGHBOURHOOD

However, the gold rush isn’t as rich for every home and while more modest homes didn’t sell for ridiculously high offers, most sold for more than originally offered.

For example in the Mary Hill neighbourhood, a three-bedroom townhouse in the Orchard Hill gated complex sold for $1.2 million, $41,200 over asking.

As well, a three-storey home at 2200 Pitt River Rd. is just three years old and sold for $1.74 million, up nine per cent from the $1.6-million asking price. 

The home includes a basement suite currently rented for $1,350, central air conditioning, an EV charger and solar panels on the roof.

CENTRAL PORT COQUITLAM

In downtown Port Coquitlam, meanwhile, a one-bedroom unit at 2343 Atkins St. sold for $525,000, eight per cent above the $488,800 asking price.

A two-storey home with a split entry on a wide lot at 3169-3171 Hastings St. sold for about five per cent more than asking at $1.78 million after 13 days on the market, up from $1.7 million.

Another single family home at 2167 Rindall Ave. sold for $1.58 million, down about four per cent from the $1.65 million asking price.

According to the Real Estate Board of Greater Vancouver (REBGV), the Metro Vancouver housing market saw steady home sales activity, modest increases in home listings and continued upward trends in pricing in February.

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