COQUITLAM & TRI-CITY REAL ESTATE REPORT
DECEMBER 2019
Author: Meryl Hamdillah, REALTOR with Sutton WestCoast Group.
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NOTE: Use the top toolbar to flip through pages for all the Tri-Cities.
Tri-City Market Report: Real Estate Market Report of Coquitlam, Port Coquitlam and Port Moody. Includes market data from Real Estate Board of Greater Vancouver with a breakdown for Detached Homes, Townhomes, Condos & Apartments.
December in Tri-Cities saw inventory dip due to some unseasonal increased sales activity. There were 789 properties on inventory which is below the 10 year Dec average of 1016. In Dec, there were 310 total home sales in the Tri-Cities which is 18.3% higher than the 10-year December sales average of 262.
Real Estate Market Insight
With the expectation of BC Assessment price drops in January 2020 (expected average of -10% drop), we expected buyers to wait; however, this did not seem to be a large factor as we saw sales in the TriCities rise above 10-year averages for December. Home buyer confidence continues to rise but it will be interesting to see January listing levels to see if supply will meet the increased demand. December saw benchmark prices decrease from 0.8% to 3.0%.
Sellers Market
The Tri-City market shows that the sales to active ratios are moving further into a sellers market. The sale-to-active ratio for Dec was .387 vs .274 for the 10-year December average. Some new top neighbourhoods appeared that were interesting to see this month. Contact us if you would like to know our top neighbourhoods and picks in the TriCities!
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