Considering all property types we are seeing very strong sale-to-list ratio of properties in Port Moody. Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. I am happy to pass on news that the sales-to-list ratio in Port Moody is at 19% as of the end of May 2019.
In supporting this direction, sales data for the the last 3 months has shown Port Moody has seen a 1% appreciation in Homeowner Price Index.
Year-to-date sales (YTD) in 2019 is 219 compared to 262 in 2018; a decrease of 16.5%. YTD Inventory in 2019 is 1154; a massive jump of 46% from 759 YTD.
Therefore we are seeing much more supply in the marketplace that creates a wider spectrum of options for Buyers and competitive environment for Sellers.
MLS HPI for the month of May 2019 was measured at $905,000 down 8% from $985,200 in 2018.
Area : Port Moody, Residential Composite
Benchmark Price: $905,600
1 Month Change % 0.0%
3 Month Change % 1.0%
6 Month Change % -3.8%
1 Year Change % -8.1%
3 Year Change % 20.9%
5 Year Change % 69.8%
10 Year Change % 99.0%