Coquitlam Snapshot – Some Tricks and Treats

Evil Deeds

Halloween in Coquitlam is around the corner. Part of this annual fright night are the visitations of little people who stomp at your door threatening evil deeds should you not proffer treats dedicated to amending their intent.

You won’t have to look to hard to find sales tricks and price treats in this October’s Snapshot of Coquitlam’s detached homes

October’s snapshot extends over two periods beginning with August 24,2011 to September 24, 2011 and September 24, 2011 to October 24, 2011.

Buckets Full of Listings

A few of the Total Listings fell out of the bucket with Aug/Sept’s 617 count dropping to Sept/Oct’s 588.

Tricky Sales

Following the pattern of previous month’s, the 90 sales in Aug/Sept stumbled stumbled in Sept/Oct to 50.

Expired and Days on Market

  • Aug/Sept had 37 listing mandates expire whereas the Aug/Sept period recorded 32.
  • Selling a home in Coquitlam is taking a couple of days longer as Sept/Oct needed 36 days compared to Aug/Sept’s 34.

Average and Median Price Treats

  • Sellers treated themselves to higher Average Asking prices with Sept/Oct’s Average Ask price jumping to $769,129 compared to $730,358 in Aug/Sept.
  • Accordingly a Median Asking price treat was recorded in Sept/Oct at $736,450 which was higher than Aug/Sept’s Median ask of $699,000.
  • Demanding more tricks for their treat, Sellers saw the Average Sold price increase from Aug/Sept’s $712,350 to Sept/Oct’s $754,020.
  • In lockstep the Median Sold price also increased in Sept/Oct to $719,150 – up from Aug/Sept’s $677,500.

Tricks and Treats

One is never certain what treat will be received when standing at a front door on Halloween. Indications from this snapshot suggest that some Coquitlam sellers may feel bountiful and willing to hand out more and better loot during this carnival of fright. With so few sales, little ghosts and goblins may find it a challenge to find homes ready and willing to give better treats. Offered is this small hint – look for 50 Coquitlam homes with a happy face on the front door. 🙂

*Speaking of Treats – be sure to click on the “Like” button below.

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.

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*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:

VMD Says:
October 24th, 2011 at 7:11 pm

I found something puzzling, in the 9/23 Coquitlam snapshot, the reported sales from 8/24-9-23 was 46, but in today’s stats, it’s now reported to be 90 sold.

Also, last month’s REBGV official stats package states Coquitlam had 106 detached sales.

This makes me wonder about the accuracy and predictive value of today’s “50 sold”, which may in fact be “100 sold” when all the stats come in…

Could this be the effect of delay in reporting sales on the MLS server side, causing the under-estimating of final sales number?

October 24th, 2011 at 8:13 pm

@VMD
This is a recurring question but there is nothing puzzling about these numbers.
for purpose of clarity…
– the only stats that are locked down are those issued at the end of the month. Everything else is dynamic.
– server reporting issues: – not that I am aware of and it’s doubtful
– they are accurate at the moment which is why all areas are taken on the same day within a 30 minute time period. Were they recorded 60 minutes later the results would be different.
– predict: at your own risk

Finally please note of the disclaimer on the graph –
**Data displayed is a snapshot of market activity and is subject to variation.

Hope that helps

VMD Says:
October 24th, 2011 at 8:55 pm

ah, I see! Thanks for the clarification! I was trying to predict end-of-month sales number last month using the Snapshot data but came out quite short.

Looking forward to the end of month gvreb stats package! Thanks for the hard work Larry!

October 24th, 2011 at 9:17 pm

@VMD
Oh I would imagine that you chewed a couple of pencils. 🙂

vanpro Says:
October 25th, 2011 at 10:06 am

MOI for Coquitlam detached sky-rockets to near 12 = 588/50 (from 6.85 = 617/90 last month)!! This could signal major price declines just like in 2008….

October 25th, 2011 at 10:18 am

@vanpro
Caution! These numbers are very fluid.

BubbleBoy Says:
October 25th, 2011 at 3:37 pm

@vanpro

Check out the HAM territory, especially in Richmond. And with all those condos being built, that is going to put big time pressure on prices.

vanpro Says:
October 26th, 2011 at 7:55 am

Larry: I am merely comparing same numbers for the same time period month-to-month (as you are posting them) which are presumably equally “fluid” in each time period, so rendering an apples-to-apples comparison. Last month, the final REBGV stats package confirmed the interim numbers you posted that showed MOI increased substantially.

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