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Coquitlam dominates the Tri-Cities when it comes to active condo listings; 56 per cent of the available homes are here. Prices range from $129,900 for a 37-year-old apartment in Coquitlam West to a $1.1 million recently listed three-year-old unit in Westwood Plateau. Beyond the price, location and age differences between these two one-bedroom properties, there’s also the size factor. The former is 660 square feet while the Westwood Plateau property is almost three times that size. The listing that comes closest to the city’s current average list price is a presale of a one-bedroom home in Coquitlam West’s The Crown. This Beedie Development Group unit is on the market for $345,900 and will be move-in ready in 2017.
Moving eastwards, Port Coquitlam had 169 active listings at press time. Condos are less expensive here with the current price range going from a low of $130,000 for a two-bedroom home in a 41-year-old building to a high of $598,888 for a six-year-old, two-bedroom apartment in Central PoCo. The listing that comes closest to the city’s average asking price is another two-bedroom apartment in Central Port Coquitlam. This seven-year-old, 830-square-foot home is on the market for $263,800.
You can settle into condo life in Port Moody from a low of $135,000 for a recently listed studio apartment in the centre of town to a high of a little over a million for a three-bedroom in the same neck of the woods. With 68 condos actively listed, the one that comes closest to Port Moody’s average price is a two-bedroom in an eight-year-old building in the same neighbourhood. It’s asking price? $374,900.
When it comes to a quick analysis of the 17 Tri-Cities condos that sold between September 5 and 18, only one went for more than the owners were asking. A two-bedroom unit in Port Moody’s North Shore community spent nine days on the market before it was snapped up for $330,000 – a mere $100 over its list price. Several other sales were made right at their list price, particularly in buildings under construction. Two units in Freemont Green South, which will be complete in 2016, sold at asking: a one-bedroom went for $249,900; and a two-bedroom for $409,900. The new owners of two units at The Windsor by Polygon in the New Horizons community will also be moving in when the building is complete in 2016. They bought their homes for the asking prices of $394,900 and $428,900.
Tri-cities Condo Market Snapshot
