The Tri-City real estate market is still doing well....not dead..only a flesh wound!.

COQUITLAM stats; detached homes - June 1 to Sept 29/06,  415 homes sold  average days on the market was 32  Sale price to List price ratio was 97.46%   (104 sales per month avg)

Compare this to the hot spring market - Feb 1 to June 1/06 - 552 homes sold - avg days on market was 29, Sale price to List price ratio was 98.08% (138 sales per month avg)

From this we can see that sales are definitely slower in the past 4 months BUT half of this time was in the traditional slow time of the year (July, August).

Average selling price has gone from $563,984 to $601,582 - BUT the spread between list price and sale price has increased by $3000. or  0.6%.

PORT COQUITLAM has not 'suffered'  this much - detached homes this spring saw sales of 272 homes = 68 per month. Avg days on the market was 29. Sale price to List price ratio was 98.86%. Average sale price was $455,235.

Compare this to the past 4 months. Sales were 171 homes = 43 per month. Avg days on the market was 28 days. Sale price to List price ratio was 98.44%. Average selling price was $5000 higher ($460,972) - but the average spread between list & sale prices increased by $1900 (on the average sale price of $460,000).

PORT MOODY detached homes saw the largest dollar price increase of the 3 cities since the spring. Average sale price of $662,948 between Feb.1 and June 1 increased to $723,136 from June 1 to Sept 29/06. BUT.... average time to sell went from 34 days in the spring to 41 days since June. Also  Sale price to List price ratios went from 98.27% in the spring to 97.36% since June ....Which means Buyers were able to negotiate $6600 more off the list price than they would have been able to this spring.

So the news is not so bad considering this summer was back to our usual summer slowdown. The good news for Buyers is now we have 3.5 to 5.5 months of housing inventory - based on the slower monthly sales figures. I expect multiple offers will not be the norm (as it was this past spring), which will provide some stability and a levelling out of prices for the balance of this year.