March 2017: Most Average Home? This is the difference between a fast selling house and an affordable house!
Most Average Home in the Tri-Cities? What are the specs of a house that will sell for over a million? Over asking price?
The detached real estate market in the Tri-Cities area is quickly warming! March was an extremely busy month in terms of activity for our team. What is the average home listed for? How do fast selling homes and affordable homes differ from this average? As our last blog post was on condos, today we’ll be looking at what the detached housing market currently looks like! This includes all sold properties in Coquitlam, Port Coquitlam, and Port Moody for the month of March 2017.
The Most Average Home
Out of 166 detached home sales in the month of March:
- Average Listing Price: $1,206,175
- Average Size: 2797 sqft
- Average Age: 34 years
- Average Market Days To Sale: 35 days
Using these numbers, it turns out that the most ‘average’ house that sold in March was none other than 921 Citadel Drive, Port Coquitlam. The listing realtor was Zane Patni.
AFFORDABLE SELLERS: Houses Sold Under A Million
- 33% of homes sold under $1,000,000
- The size of these homes was 31% below average
- These houses were 27% older than average
- These houses sold 24% slower than average
- 42% of these homes sold over asking price
FAST SELLERS: Houses Sold In Under One Week
- 50% of homes sold in under one week
- The size of these homes was 15% below average
- These houses were 9% older than average
- These houses were listed for 8% cheaper than average
- 50% of these homes sold over asking price
Are there any other stats you’d be interested in knowing? Drop us an email or submit a contact form and we will make that happen.
All stats are approximations using MLS data as of April 23rd, 2017 and were calculated for informal use. These stats should not be referenced for legal purposes.
The gears of the Real Estate market are turning just as quickly as the weather has flipped from More Snow Than Calgary to our beloved rainy with a chance of extra rain. Housing activity has warmed like our weather eventually will.
Jokes aside, we are experiencing another spike in the market after our relatively calm winter months. The snow is gone, spring cleaning is progressing, the Evergreen Line is booming, and condos are selling! As observed by the graph below, the Coquitlam condo market has spiked to higher levels than even last year!
What does this mean for you?
Potential Buyers: Be prepared and on top of the latest listings. The Coquitlam condo market is in fierce competition and you need to be in the know-how to obtain that dream home you’ve been eying!
Potential Sellers: Your condo is the hot commodity in the real estate market this season! Take the extra time to make sure you are fully prepared to sell. Maximize the value of your house before putting it on the market! Ensure your home is strategically positioned and priced for maximum return.
Professional advice is always recommended when it comes to large transactions such as real estate, but it will always be beneficial to first do your own research.
In spirit of this news about the condo market, here are a few fun facts!
The Most Expensive Condo in Coquitlam
3002-3007 GLEN DRIVE :: Central Coquitlam
List Price: $1,250,000
- 2 Bedrooms
- 3 Bathrooms
- 1316 sq. ft.
- Breathtaking views
This two year old penthouse in the heart of Coquitlam boasts spectacular finishings and panoramic in a new building… at the cost of $1,250,000. Live in the lap of luxury!
Listed by: Roy Choi PREC, Keller Williams Elite Realty
The Fastest Selling Condo in Coquitlam
402 1438 PARKWAY BOULEVARD :: Westwood Plateau
- List Price: $469,000
- 2 Bedrooms
- 2 Bathrooms
- 948 sq. ft.
- Ideal for investors
A cozy two bedroom condo in a great neighbourhood. Pets and rentals both being allowed means that homes similar to this are ideal for investors! Stay on your toes if you’re on the lookout for homes like this.
Listed by: Louise Hendricks, RE/MAX All Points Realty
Here’s a more detailed breakdown of the Coquitlam Condo activity last month:
Condos in Coquitlam, particularly those around the Evergreen Line, are on our watch list for sure. Click here to start shopping!
Commemorating 25 Years of Miracles
The Children’s Miracle Network is committed to raising money for children’s hospitals, awareness of children’s health issues, and for research.
I received a letter in the mail this week celebrating the 25th anniversary of when I decided to start making a difference. Through RE/MAX’s affiliation with the network, by donating money directly based on income, we have managed to raise over $64 million since 1992!
Received this beautiful pin today to remind us all of the miracles we have contributed to within the last 25 years, but also to remind everyone that there is always more to be done. Help our children today and make that commitment!
If you are a realtor, get in touch with RE/MAX Corporate to see how you can start contributing to better the lives of these kids.
Not a realtor? Click here to learn how you can make a difference today.
We had the honor of attending the IMAGINE Gala last weekend to in effort to raise funds for the SHARE Society; an organization that exists to connect, engage and strengthen individuals and families in the Tri-Cities, Anmore and Belcarra.
Through fundraisers such as there IMAGINE Gala, SHARE Society has been able to give back to the community ten hold through their support and food bank programs.
This night was no exception! With the help from notable sponsors including; CTV, Vancity, Save on Foods, and IKEA to name a few. See full list of sponsors here.
Team Léo was grateful for being apart of such an amazing community initiative. Not to mention we had a great time, the pictures speak for themselves!
Today, our team was recognized with an award for being the #1 Team at RE/MAX All Points Realty!
We are extremely grateful for this award. 127 deals in 2016 – way to go team! We missed having Anh Hoang at our event. She is on a much deserved holiday in London – though still working, from a distance, on 3 deals!!
Congratulations to Léo Bruneau for earning the Diamond level of achievement!
Extra special thank you to:
Keith Cornies – for your much needed coaching throughout the year!
Gayle Kossaber – for your continuous support and guidance!
Lynda Kell and Jennie Copeland – for looking after our conveyance needs!
And all of our incredible family, friends, clients, and community for helping us to achieve this award, and doing so with smiles on our faces!
Looking forward to a successful 2017,
Matt, Ron, Nancy, Jasmine, Robin, Kristen, Anh, and Léo
Our Home Buyers Seminar was a huge success! Thank you to all of those who made it out. Your support was phenomenal and we hoped that you walked away with more knowledge than you did before coming in.
Special thank you to our guest speakers:
- Giselle Miranda Tibble – Canada Guaranty Mortgage Insurance Company
- Jane Wedekind – Scotiabank Home Financing Advisor
- Garrett Munroe – Munroe & Company Barrister & Solicitor
- Aaron Borsch – A Buyers Choice Home Inspections
This was the very first seminar we hosted on our own, and we are extremely grateful for its success. If you missed this event, don’t worry – we’ll definitely have more in store for the future!
Email us your ideas at email@example.com, or if you missed this event and would like a copy of some of the media that was shared around.
You are invited to our Home Buyers Seminar!
When: January 18th at 7 pm
Where: Team Leo office: 100-1060 Austin Avenue Coquitlam
Giselle Miranda Tibble – Canada Guaranty Mortgage Insurance Company
Jane Wedekind – Scotiabank Home Financing Advisor
Garrett Munroe – Munroe & Company Barrister & Solicitor
Aaron Borsch – A Buyers Choice Home Inspections
Matt McGuigan – Team Leo
Whether you’re a first time home buyer or experienced buyer, hear from the experts in the field, learn tips on buying real estate.
Get the details on the new first time home buyers deposit assistance from the BC Government – BC Home Partnership Program.
Sign up below to ensure a seat, let us know if you are bringing a friend. Light refreshments included!