Port Moody Living
"City of the Arts" - Located at the head of Burrard Inlet, this vibrant city is rich in history and modern development. Steps from seaside parks, mountain trails and lakes, Port Moody is a nature lovers paradise.
Port Moody Real Estate News
Tuesday, July 17, 2012
July 2012 Market Update
Even with low interest rates persisting, the summer market has officially started. Sales in Port Moody for the month of June were down 47.7% compared to June 2011. So far July’s stats seem similar, with buyers not rushing to purchase. Median prices for June's sales were up 13.7% in 2011 but have took a hit this year coming down 10%. A look at the local inventory shows, 153 detached homes, 77 townhomes, 166 condo listings available. Since June 1, 2012 there were 12 detached sales, 13 townhouse sales, and 21 condo sales. These conditions signal an earlier shift into this summers "Buyers Market". Quality properties are selling in the area, although the importance of being properly priced is essential in these market conditions.
If you would like more insight into the local housing market please stop by our Suter Brook office, give us a call, or send us a message online.
Monday, April 25, 2011
Spring Market in Port Moody
Greg talks about the Spring Market. In the Newport, Klahanie, Suterbrook developments there were a combined 14 sales (Jan), 18 sales (Feb), 20 sales (Mar) and 4 (Apr). There are currently 126 active listings which is approximately an 8 month supply of inventory. Supply and demand in the condo market is forcing prices down currently. Blogged just 12 minutes from Port Moody center, this is an ideal place for those looking to get away for an afternoon or day.
Wednesday, March 9, 2011
Port Moody Property Prices for February
The Real Estate Board of Greater Vancouver (REBGV) released its February 2011 which showed increased housing demand across all sections of the housing market in Greater Vancouver with Richmond and Vancouver Westside.
The report also showed benchmark prices for properties across the different regions of Greater Vancouver that it covers. The benchmark price is the estimated sale price of a benchmark property. Benchmarks represent a typical property within each market.
The average price of a detached home in Port Moody, according to the report, is now $746,726. For an attached price the benchmark price is now $414,456, and for a apartment or condo in Port Moody the benchmark price is now $288,869.
The report showed that there were 18 detached home sales, 21 attached home sales, and 27 condo or apartment sales in Port Moody in February. The median price for detached home sales was not available, but for attached homes the median price was $425,000 and for condos or apartments it was $349,000.
The Real Estate Board of Greater Vancouver (REBGV) is a member-based association of more than 10,000 REALTORS® who live and work in communities from Whistler to Maple Ridge to Tsawwassen and Port Moody and everywhere in between.
You can download the full Real Estate Board of Greater Vancouver report for February here. Contact us if you are looking for more in-depth information on the Port Moody real estate market--we are experts in this area.