As seen in...
Westcoast Condominium
Condo sales took a downturn in Coquitlam (-5.1 per cent) and Port Coquitlam (-20.4 per cent) last month but managed to stay above the water in Port Moody (+7.9 per cent). The remarkable story is how much more buyers were spending. The median selling prices in June were up across the board compared with May: seven per cent in Coquitlam; 14 per cent in PoCo; and three per cent in Port Moody.
North Coquitlam
This quiet neighbourhood close to Coquitlam Mountain offers small-town living with metropolitan amenities. There are plenty of condos to choose from with 80 active listings in the area. Begin your hunt at the low end of market where $214,900 will buy you a two-bedroom unit in The Classics. Aim for the top and you’ll be paying somewhere in the neighbourhood of $798,880 for a two-bedroom in MThree by Cressy which is scheduled for completion later this year.
We noted close to 50 condos changing hands in North Coquitlam last month. Sellers accepted offers anywhere from nine per cent under asking (a one-bedroom in The Claremont that sold for $320,000) to 21 per cent over (a two-bedroom in Marlborough House that was asking $329,900 and closed for much more).
Glenwood
One of PoCo’s fastest growing communities, Glenwood is also one of the city’s pricier options. There are 19 condos for sale in the area, beginning with a one-bedroom in Suffolk Manor that’s available for $162,800 and going as high as $449,900 for a two-bedroom in Key West.
We counted 10 Glenwood condo sales in June. The happiest buyers? The new owners of a one-bedroom in Coquitlam Place who put in a lowball offer 18 per cent below the $145,000 asking price only to have it accepted. The happiest sellers? The former owners of a two-bedroom in Shaughnessy Square who we can only suppose were thrilled to walk away with 16 per cent more than their $299,900 list price.
For a full summary of the Tri-Cities condo market in June 2016, check out our infographic below.
Tri-Cites Condo Market Snapshot June 2016
