Vancouver Real Estate – Coquitlam Snapshot

Overtime

I like watching hockey. The fast, furious and constantly changing game starts with a puck dropping. Our home town team the Canucks, had high hopes for a first round come back but after mere minutes of overtime play it was not to be.

Some who watch the Vancouver’s real estate market might suggest that it too is fast, furious and constantly changing. In this the first of a seven community series, we will have a look at Coquitlam and like the Canucks, hold hope high that it will survive an overtime period.

This Coquitlam community snapshot covers the period from February 25 to April 24, 2012.

Packed House

Fans pack an arena when a series final is played. Total listings in Coquitlam packed this local market in Feb/Mar for a total of 574 units. In the last 30 day period a few listings didn’t make it to the game as Mar/Apr’s turnout was 506.

Bouncing Pucks

Made from vulcanized rubber, hockey pucks are frozen before a game to help stop them from bouncing on the ice. It seems that Coquitlam’s sales pucks didn’t make it to the freezer as sales bounced from 137 in Feb/Mar down to 60 in Mar/Apr.

Expired and Days on Market

  • Feb/Mar saw 11 listing mandates expire. In Mar/Apr that number crossed the blue line at 20.
  • The average number of days it took to score a home sale in Coquitlam increased from Feb/Mar’s 28 to Mar/Apr’s 30.

Average and Median Price Scores

  • It’s uncertain whether Coquitlam home sellers will turn in their seasons tickets as they watch Average Asking prices for sold properties drop from Feb/Mar’s $785,662 to Mar/Apr’s $762,789.
  • Median Ask prices for sold properties in Feb/Mar crossed the center line at $777,800 only to be slammed into the boards as Mar/Apr recorded $739,000.
  • Average Sold prices in Feb/Mar’s $774,915 came out from behind the net but were cross checked as Mar/Apr recorded the hit at $749,417.
  • A slap shot sent Feb/Mar’s Median Sold price of $766,355, clear of the net and above the glass to record $734,950 in Mar/Apr.

Thoughts

60 sales may indicate the outcome of Coquitlam real estate’s overtime period.

Image Credit: Flicker Geoffery Kehrig

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:

Joe q Says:
April 26th, 2012 at 4:31 am

Let’s call this what it is – total bloodbath

April 26th, 2012 at 5:11 am

@joe q
you must be referring to the Canucks overtime results

bbcoq Says:
April 26th, 2012 at 8:32 am

Living in Coquitlam I will tell you there is increased supply no doubt and “the fever pitch” of last spring is not there but there are many “sold” stickers and many many holes in the ground where smaller homes once stood and larger homes are being built. I would not call a normal sized decline in price a bloodbath.
One thing I wonder about the Coquitlam market is have prices gone up to a place where the properties are being sold only on lot value? Anything under 2000 square feet seems to be torn down down to make way for something 2-3x the size. My question: in the Central and West Coquitlam markets are standing houses worth anything if the market values the lot only? If so Home Dept and Rona have problems….

Best place on meth Says:
April 26th, 2012 at 10:00 am

Rumour has it that both Luongo and HAM are going to Toronto.

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