The Tri-Cities Real Estate market trends. The supply of apartment and townhome properties for sale today is unable to meet demand, our detached home market is beginning to enter buyers’ market territory.
The data notes that the benchmark price for a townhouse has increased in the last six months by 6.3% in Coquitlam, 2.1% in Port Coquitlam and 4% in Port Moody; during the same period, condo prices rose 6.5% in Coquitlam, 7.4% in PoCo and 7.3% in Port Moody.
According to real estate board figures, the number of sales of detached homes increased 32% from January to February in the Tri-Cities while the number of attached property transactions rose 32.6%. The number of apartments sold during the same period rose 4.3% from 141 to 147 in the three municipalities.