As seen in...
Westcoast Condominium
Spring blossomed well in Port Moody where condo sales were up 35 per cent in March over the previous month. Sales were healthy in the rest of the region too with Coquitlam sellers enjoying a 20 per cent increase and PoCo owners celebrating a 12 per cent rise.
Median sales prices were actually lower in March than February in two of the Tri-Cities: Coquitlam and Port Moody. Port Coquitlam’s gain was a relatively modest $11,550 over its February median selling price of $270,950. And, while bidding wars aren’t by any means unheard of in the Tri-Cities’ condo market, our analysis shows most homes are changing hands at or below list price.
New Horizons
This vibrant lakeside neighbourhood offers quiet residential homes that are still close to Coquitlam’s town centre. There are 20 active listings here including several in The Lloyd, a Polygon development that’s in its preconstruction phase. Prices range from $295,000 for a one-bedroom in Larkin House East that came on the market in mid-March to $669,900 for a three-bedroom in The Lloyd that was also listed in mid-March.
Area sales last month included several in The Lloyd which sold for list price within days and a two-bedroom in Larkin House East that went for two per cent under its $369,900 asking price after only five days on the market.
Central Port Coquitlam
This historical PoCo neighbourhood is attracting more and more young urban professionals every year. And there are lots of condos to be had with 68 active listings ranging from presales to ones that are over 40 years old. Prices start at $99,000 for a one-bedroom in 43-year-old Orchard Valley that has been on the market since February to a three-bedroom in seven-year-old Villagio 2 that was listed March 29 for $429,000.
March sales were brisk in the neighbourhood with 43 sales during our reporting period. A three-bedroom in Orchard Valley changed hands for 13 per cent under its $149,000 asking price after 106 days on the market. At Villagio 2, a two-bedroom unit took 12 days to sell for one per cent less than its $528,888 list price.
Tricities Condo Market Snapshot
