Coquitlam’s Train

Community Series – Coquitlam

We are approaching the end of November. There are but 7 days left.

At this time of the month it is time to initiate the Community SnapShot series and take a look at the real estate market activity in Vancouver.

In the next 7 days we’ll inspect Coquitlam, Burnaby, Vancouver East, Vancouver West, North Vancouver, West Vancouver and Richmond markets. The goal – to get an sense of how Vancouver’s November has performed and perhaps give us a hint of it’s future.

This snapshot will cover the periods of September 24,2010 – October 23,/2010 and October 24, 2010 – November 23, 2010.

We begin with Coquitlam’s detached market.

During the two noted periods, detached properties in the Coquitlam community tabulated the following results.

Listings

Total Listings decreased from Sept/Oct 506 to Oct/Nov’s 473.

Sales

POCO Heritage

Sales dropped from Sept/Oct’s 85 to 50 in Oct/Nov.

Expired, Reductions, Increases, Days on Market

  • The number of listing mandates that expired remained steady at 35 in both periods.
  • Price reductions in Sept/Oct were 164 but slowed to 146 in Oct/Nov.
  • There were 7 price increases in Sept/Oct and 6 in Oct/Nov.
  • The number of days it took to sell a house increased from Sept/Oct’s 44 to 73 in Oct/Nov.

Average and Median Prices

  • Sept/Oct’s Average Ask price was $714,811. The Average Asking price decreased in Oct/Nov to $662,129.
  • The Median Asking price in Sept/Oct was $669,500. That number decreased to $637,500 Oct/Nov.
  • The Average Sold price in Sept/Oct was $690,634. In Oct/Nov this dropped to $641,826.
  • The Median Sold price in Sept/Oct was $637,000. In Oct/Nov the Median Sold decreased to $616,750.

Thoughts

Sales, listings, price reductions and price all appear to be slowing down. Added to this is that it is taking much longer to sell a home. With the traditional slow period over the holiday season approaching, one can expect that the Coquitlam real estate market train to stay on track.

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.

Reader Comments:

Boombust Says:
November 24th, 2010 at 6:30 pm

“With the traditional slow period over the holiday season approaching, one can expect that the Coquitlam real estate market train to stay on track.”

Did you say “train” or “train wreck”?

November 24th, 2010 at 6:34 pm

@boom
such an ambulance chaser 🙂

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