Hello, I'm Louise Hendriks, licensed realtor with RE/MAX Central.
Welcome to my market update for Coquitlam BC. Well April is looking like a great month in Real Estate here in Coquitlam.
Detached Home listing inventory to sales levels are up 26% in March, compared to 18% this time last year and it's continuing to rise. Indeed a strong sellers market for houses and prices are increasing. Acc...
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Coquitlam Real Estate Market News Update
Coquitlam BC Real Estate Market UpdateHello, I'm Louise Hendriks, licensed realtor with RE/MAX Central. Welcome to my May 2012 Market Update for Coquitlam BC. Currently in Coquitlam we're experiencing a sellers market.
Detached houses in particular are selling well. Prices went up this year. An average house will cost you just under $749,000.
In April detached homes had a sold rate of 19% - indicating a strong market. The listing inventory for detached homes was 27% lower than April 2011 and we are experiencing a 94% sales to list ratio - translation? Houses are selling fast. The most active price range was $800-$900,000 with a 27.4% sold rate. These homes sold in under 22 days. The least active price range was $1.25M where they experienced a much slower market with a 5.5% sold rate and taking 44 days on the market.
Condos and Townhouses are experiencing a stable market with record inventory, a 17% sold rate and a 97% sell to list ratio. Condo prices dropped this year by $7500 to an average price of just under $260,000. While Townhouses prices increased $7900 to an average price of $388,000. In April, the most active price range were condos under $200,000. These had a 22.9% sold rate and took 44 days on the market. The least active price range was $500-600,000 - these had a 12.4% sold rate but were only on the market 18 days.
Overall, here in Coquitlam, we are seeing new listings outpacing the sales substantially, meaning that we are seeing the listing supply increase so this may convert into a buyers market by June. So if you are thinking of listing now is the time.I am very interested to see what this transition month will look like. Will the buyers wait until June to buy? I don't think so. This is Louise Hendriks, RE/MAX Central, see you next month for my Coquitlam Market Update for MYREALTYTV.CA
Condos sales have improved as well. 69 sold with an average benchmark price of just under $257,000 - but most condos are in the $300,000 range.
Overall we are experiencing less active listing inventory, 23% lower than February 2011 in fact. New listings outpaced the sales 2 to 1 - that means that we should see listing levels increase in the next month. Overall it looks like we're moving into a strong Seller's market for a while. So if you're thinking of listing get on it - the Buyers are out.
That's all I have for you this month. I'm Louise Hendriks, RE/MAX Central Tune in next month for my Coquitlam Market Update for my realty tv dot ca