Count Down, Day 7 – Coquitlam

Day 7 – Coquitlam

There are 7 days remaining in this the month of August 2010.

Counting down the next 7 days, this series will visit seven communities that comprise the Vancouver Real Estate market. Included will be the markets in Coquitlam, Burnaby, Vancouver East, Vancouver West, North Vancouver, West Vancouver and Richmond.

To allow for as fair a representation as possible, the snap shots for each community were recorded on the same day, August 24, 2010. The series snap shots will compare the periods of June 25/2010 – July 24/2010 and July 25/2010 – August 24, 2010.

Grab your pencils, your coffees, and follow along. Come and explore the ups and downs of the detached home market performance in each area during the noted periods. As we approach the end of August you might well be able to decide in advance if August will go down in real estate history as a boom or a bust.

Today we begin the Count Down SnapShot series with a peek at the Coquitlam market.

During the two periods June 25, 2010 to July 24, 2010 and July 25, 2010 to August 24, 2010, detached properties in the Coquitlam neighbourhoods had the following results.

Listings

Total Listings decreased from June/July’s 649 to July/Aug’s 607.

Sales

Sales decreased by just over half from June/July’s 72 to 35 in July/Aug.

Expired, Reductions, Increases, Days on Market

  • June/July had 52 listing mandates expire which decreased to 43 in July/Aug.
  • Price reductions in June/July were 211 but reduced to 196 in July/Aug.
  • There were 10 price increases in both periods.
  • Telling is the increase in time it takes to sell a home. It took an average of 43 days to sell a home in June/July. That increased to 53 days in July/Aug.

Average and Median Prices

  • June/July’s Average Ask price was $702,048. This average decreased in July/Aug to $699,631.
  • The Median Ask price in June/July was $689,399. It decreased to $638,000 in July/Aug.
  • The Average Sold price in the June/July was $680,329. In July/Aug this dropped to $675,219.
  • The Median Sold price in June/July was $670,000. In July/Aug the median dropped to $625,000.

Looking Ahead

Tomorrow we move along to Burnaby. What will you be expecting to see?

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

When Life Moves You - contact Larry:

*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

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