Here is a real estate market update for the community of Burke Mountain, Coquitlam for October 2019.

A lot has changed over the past month in the real estate market. Buyers have been very active with home sales in most areas returning to historically average levels.

For Greater Vancouver which includes Coquitlam, overall 31% of properties sold in October 2019 making it a Sellers Market.

Let’s look at the numbers for Burke Mountain and specifically townhomes.

For townhomes in October 2019, 55% of properties sold. There were 31 properties listed and 17 sales.

The average days on the market for a townhome to sell was 14 days. The median price being $862,500.00. These numbers do not include sales that were done directly through new developments where the properties were not listed on MLS.

For detached homes in September 2019, 57% of properties sold. There were 53 properties listed and 30 sales. The average days on the market for a detached home to sell was 60. The median price being $1,388,000.00  Again, these numbers do not include sales that were done directly through new developments where the properties were not listed on MLS.

Properties are selling a lot quicker than prior months and there is less inventory on the market. Sales are up across the board and up 22% from the prior month. Medium home prices for Greater Vancouver are also only 1% below what they were one year ago.

If you have specific questions about this update or your property and the market and really what this market means to you if you are selling or buying let’s connect. This is your October 2019 Burke Mountain, Coquitlam real estate update.