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Westcoast Condominium
Trying to narrow your Tri-Cities condo hunt to one municipality? There’s a wide variety of choice and that’s reflected in the prices. Port Moody is the most expensive and May sales were up more than 17 per cent over April and 44 per cent over the previous May. Coquitlam’s May sales were a similar 44 per cent higher this year than last, but only six per cent up over April. Prices are cheaper in Poco where sales were remarkably slower. May was down there over April by 12.5 per cent.
Coquitlam West
This neighbourhood is undergoing tremendous change thanks to the Evergreen Line. There are 48 active condo listings starting at $168,800 for a studio in The Avenue and going as high as $1,080,900 for a three-bedroom in The Crown. Close to half of the listings are in brand new buildings or ones offering pre-sales.
Our reports show 25 condo sales in the area last month with most homes changing hands at or near list price. The exceptions were a two-bedroom in the pre-construction Burquitlam Capital that sold for four per cent under its asking price of $503,900 and a two-bedroom in Brookmere Towers that went for eight per cent more than its $509,000 list price.
Port Moody Centre
Also on that Evergreen Line route, this community has 30 active listings. A studio in Sonrisa is the starting point at $234,900, while a two-bedroom in Aria 2 tops the price range at $930,000.
Port Moody Centre sales were brisk in May with our reports showing more than 25 condos changing hands. Owners of a two-bedroom in Aria 2 accepted an offer of $560,000 – six per cent less than they had hoped for. It was the owners of the two-bedroom unit in The Residences who must have done the happiest happy dance. Their unit sold for 16 per cent over their list price of $599,000.
For a full summary of the Tri-Cities condo market in May 2016, check out our infographic below.
Tricities - May WCC
