Port Moody Real Estate News

According to the monthly press release and stats package released by the the Real Estate Board of Greater Vancouver (REBGV) the area's property market saw typical spring activity in April after the busy period at the start of the year. April's sales were described as "typical" and "solid" in the press release. Despite slight decreases in numbers across most sectors, the Real Estate Board of Greater Vancouver (REBGV) reported that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,225 in April, which are still very impressive numbers.

While monthly numbers declined for many areas in Greater Vancouver, the property market in Port Moody posted great numbers and increases for every property type, in terms of benchmark prices. The benchmark price is the estimated sale price of a benchmark property. Benchmarks represent a typical property within each market. The benchmark price for a detached property in Port Moody is now $725,113--this is higher than the average price of the same type of property in the Greater Vancouver area an and increase of 11.5% on the three month average benchmark price. The benchmark price for an attached property is now $415,747--an increase of 3.5% on the three month average benchmark price. The benchmark price for a condo or apartment in Port Moody is now $304,180--an increase of 2.9% on the three month average benchmark price.

There is also lots of availability in terms of Port Moody real estate, with lots of new listings coming on the market in April. According to the REBGV MLS Listings Facts, there were 39 detached property listings, 41 attached property listings, and 50 condo or apartment listings--all up on March numbers. In terms of percentage of sales to listings, detached property listings were at 59%, attached property listings were also at 59%, and condo or apartment listings were at 52%.

You can read the full text of the Real Estate Board of Greater Vancouver press release and stats package on the REBGV website. We also issue a summary of the previous month's stats, so check back here next month for our take on the May real estate stats for Port Moody.