{"id":50180,"date":"2021-01-16T11:32:17","date_gmt":"2021-01-16T19:32:17","guid":{"rendered":"https:\/\/www.garbuttdumas.ca\/?p=50180"},"modified":"2021-01-18T22:47:31","modified_gmt":"2021-01-19T06:47:31","slug":"port-moody-coquitlam-townhouses","status":"publish","type":"post","link":"https:\/\/www.garbuttdumas.ca\/2021\/01\/16\/port-moody-coquitlam-townhouses\/","title":{"rendered":"Townhouses – 2021 Trends, and Things you Should Know"},"content":{"rendered":"\n

Is 2021 the Year of the Townhouse?<\/strong><\/h4>\n\n\n\n

Townhouse supply is low, and demand is high. This is a Realtor\u2019s opinion on townhouse trends, and things you should know. <\/p>\n\n\n\n

What is a townhouse?<\/strong><\/p>\n\n\n\n

Townhouses typically have a small footprint, multi-level units, shared walls with neighbours, and a separate entry. Often 3 bedrooms or more, and found in higher density neighborhoods.<\/p>\n\n\n\n

Who wants them?<\/strong><\/p>\n\n\n\n

Townhouses are very popular with young families because they are more affordable than a house, and many have 3+ bedrooms, which is ideal for families with kids.  For many, townhouses are the next step up from a condo.  For some, such as empty nesters, townhouses are the next step down from a house.  <\/p>\n\n\n\n

What are some things to consider when buying a townhouse?<\/strong><\/p>\n\n\n\n

Age & Size<\/span> – Old or new? Small or big? Older townhouses often come with more space inside and yard space outside but watch rising maintenance expenses for upgrading items such as: exterior siding, windows, roofs, plumbing, etc.  Newer townhouses often have smaller footprints, are vertically stacked (on 3 levels), and many are narrow with a tandem garage.  Closer to the city, you\u2019ll find more density with stacked townhouses, which have neighbouring units at the sides, below and even above, and underground parking.  Depending on the age and location, some townhouses are more like a house, and others are more like a condo.<\/p>\n\n\n\n

Strata Fees & Insurance<\/span> – In the days of rising insurance costs, a large townhouse could be left with an astronomical strata fee if it were associated with a tower or complex that has high maintenance and insurance costs. Townhouses at the base of condo towers, are treated like large condos (with a higher unit entitlement) and are responsible for a higher portion of the building maintenance costs. These high strata fees can devalue townhouses as many buyers are turned off by them.  Townhouse only complexes typically have much lower strata fees due to less (or no) expenses from; elevators, heating common areas, insurance, and amenities.  <\/p>\n\n\n\n

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Our team of realtors specialize in buying and selling townhouses<\/figcaption><\/figure><\/div>\n\n\n\n

Why are we talking about townhouses?  Because they\u2019re hot and the demand is growing!<\/strong><\/h4>\n\n\n\n

Here are some of the latest Greater Vancouver Real Estate Board statistics for December 2020:<\/p>\n\n\n\n

The \u2018Home Price Index\u2019<\/strong> for a typical townhouse in the Lower Mainland is up +5.9% over the last 12 months.  For the markets we often sell in (Burnaby, Coquitlam, Port Moody, Port Coquitlam and New Westminster) townhouse prices are up between +4.0 – 6.5% over the last year. North Vancouver was the leader on the list, with a +9.2% gain over the last year.<\/p>\n\n\n\n

Median Sale Prices (December 2020):<\/strong><\/p>\n\n\n\n

Burnaby Townhouses – $812,000<\/p>\n\n\n\n

Coquitlam Townhouses – $839,000<\/p>\n\n\n\n

Port Coquitlam Townhouses – $647,000<\/p>\n\n\n\n

Maple Ridge\/ Pitt Meadows Townhouses – $585,000<\/p>\n\n\n\n

North Vancouver Townhouses – $1,099,500<\/p>\n\n\n\n

East Vancouver Townhouses – $1,188,000<\/p>\n\n\n\n

<\/p>\n\n\n\n

Fall Sales Ratios were ridiculously high! <\/strong><\/p>\n\n\n\n

A \u2018sales ratio\u2019 represents the number of sales in a given month over the number of active listings, as a ratio.  A 20% sales ratio indicates 1 out of 5 listings are selling in a given month.  If a 20% or higher sales ratio is sustained in an area for a long period of time, it typically leads to upward pressure on prices. Here were some sales ratios from November & December 2020 for Townhouse:<\/p>\n\n\n\n

Burnaby 71% & 119%, Coquitlam 80% & 131%, New Westminster 117% & 169%, Port Moody 136% & 211% (Nov & Dec sale ratio %)<\/p>\n\n\n\n

Where are townhouses selling?<\/strong><\/p>\n\n\n\n

Let\u2019s look at the number of townhouses that sold this fall:<\/p>\n\n\n\n

October, November, December (Total # of Sales)<\/p>\n\n\n\n

Burnaby – 214<\/p>\n\n\n\n

Coquitlam – 212<\/p>\n\n\n\n

Maple Ridge\/PM – 217<\/p>\n\n\n\n

Vancouver East – 200<\/p>\n\n\n\n

North Vancouver – 143<\/p>\n\n\n\n

New Westminster – 70<\/p>\n\n\n\n

Port Moody – 69<\/p>\n\n\n\n

Tri-Cities (Coq, PoCo, PoMo) – 368<\/p>\n\n\n\n

<\/div>\n\n\n\n

Which townhouse complexes should I consider?<\/strong><\/h4>\n\n\n\n

There are many great townhouse complexes throughout the lower mainland and we can\u2019t cover them all. From a Realtor’s opinion, here are a few options to consider:<\/p>\n\n\n\n

Looking for a large townhouse<\/strong>?<\/p>\n\n\n\n

Consider \u2018Tree Tops\u2019 on Heritage Mountain.  Located at 101 Parkside Dr, Port Moody, townhouses in this complex range from 1600sf to 3500sf.  Built in the early 1990s, these Duplex style townhouses offer some of the largest floor plans for townhouses in Port Moody.  Currently, prices in this complex range from $800,000 to $1,400,000.<\/p>\n\n\n\n

Popular townhouses<\/strong><\/h5>\n\n\n\n

\u2018Indigo\u2019 at 100 Klahanie Dr, Port Moody.  Built by Polygon in 2005, and centrally location in Port Moody Centre, this townhouse complex is loaded with young families and kids, and has excellent amenities with an outdoor pool at the Canoe Club.  Indigo contains mostly 3 bedroom townhouses in the 1300 to 2000 sf range.  Current prices in this complex range from $900,000 – $1,100,000.<\/p>\n\n\n\n

\u2018Quest\u2019 at 2200 Panorama Dr, Port Moody.  Located up the mountain in \u2018Heritage Woods\u2019 and built in 2005, Quest is surrounded by nature and trails, and is a great option for young families that want the feeling of being away from the city.  Quest contains a mix of 3 and 4 bedroom townhouses in the 1400 to 2400 sf range.  Current prices in the complex range from $800,000 – $1,000,000.<\/p>\n\n\n\n

Lesser known townhouses with good value<\/strong><\/p>\n\n\n\n

Brookside Dr, Port Moody – Keep an eye out for these 1970s built, well maintained townhouses that offer more space at a lower price, and are in a great location in \u2018Port Moody Centre\u2019 steps from the skytrain and all amenities that Port Moody has to offer.<\/p>\n\n\n\n

Falcon Dr, Coquitlam – The 1100 block of Falcon Dr has a few complexes of 1980s built townhouses that offer more space at a lower price, and are close to all perks of Port Moody, including the future Coronation Park master planned community.  Townhouses on Falcon Drive are mostly 3 bedrooms, and are currently priced in the $600,000 – $850,000 range.<\/p>\n\n\n\n

What about Port Coquitlam?<\/strong><\/p>\n\n\n\n

\u2018Fremont Blue\u2019 and \u2018Fremont Indigo\u2019 built by Mosaic around 2015 are a great option to consider.  Keep an eye out for these townhouses on \u2018Ranger Lane\u2019 in Port Coquitlam, just steps to the PoCo Trail along the Fraser River.  Mostly 3 bedrooms in the 1200 to 1700 sf range, and currently priced in the $700,000 – 900,000 range.<\/p>\n\n\n\n

Some other townhouse complexes worth mentioning:<\/strong><\/p>\n\n\n\n

Osprey Village & Nature\u2019s Walk – Offer some of the best options for townhouses in Pitt Meadows<\/p>\n\n\n\n

Portside – New townhouse development in Queensborough built by Anthem and expected to complete in 2021.  Offer gorgeous waterfront townhouses fronting on the Fraser River.<\/p>\n\n\n\n

<\/div>\n\n\n\n
There are far too many townhouses to cover in just one blog post, but if you would like to hear more we did a great podcast episode on this topic that you can listen to here<\/a>.\u00a0<\/h5>\n\n\n\n
If you\u2019re thinking of buying or selling a townhouse in the future and would like more information on current values or what this city has to offer, we would love to hear from you!  Contact us here<\/a> and one of our realtors will show you some of the best townhouses available on the market. <\/h5>\n\n\n\n

G+D Realtors<\/a>: Port Moody Realtors<\/a>, Burnaby Realtors<\/a>, New Westminster Realtors<\/a>, Coquitlam Realtors<\/a>, Port Coquitlam Realtors<\/a>, Vancouver Realtors<\/a>, North Vancouver Realtors<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Is 2021 the Year of the Townhouse? Townhouse supply is low, and demand is high. This is a Realtor\u2019s opinion on townhouse trends, and things you…<\/p>\n","protected":false},"author":3,"featured_media":50190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[971,891],"tags":[],"acf":[],"taxonomy_info":{"category":[{"value":971,"label":"News + Tips"},{"value":891,"label":"Buyers"}]},"featured_image_src_large":["https:\/\/www.garbuttdumas.ca\/wp-content\/uploads\/2021\/01\/g-and-d-townhouse-1024x1024.jpg",1024,1024,true],"author_info":{"display_name":"James Garbutt","author_link":"https:\/\/www.garbuttdumas.ca\/author\/james\/"},"comment_info":0,"category_info":[{"term_id":971,"name":"News + Tips","slug":"news","term_group":0,"term_taxonomy_id":971,"taxonomy":"category","description":"","parent":0,"count":152,"filter":"raw","cat_ID":971,"category_count":152,"category_description":"","cat_name":"News + Tips","category_nicename":"news","category_parent":0},{"term_id":891,"name":"Buyers","slug":"buyers","term_group":0,"term_taxonomy_id":891,"taxonomy":"category","description":"","parent":0,"count":157,"filter":"raw","cat_ID":891,"category_count":157,"category_description":"","cat_name":"Buyers","category_nicename":"buyers","category_parent":0}],"tag_info":false,"_links":{"self":[{"href":"https:\/\/www.garbuttdumas.ca\/wp-json\/wp\/v2\/posts\/50180"}],"collection":[{"href":"https:\/\/www.garbuttdumas.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.garbuttdumas.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.garbuttdumas.ca\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.garbuttdumas.ca\/wp-json\/wp\/v2\/comments?post=50180"}],"version-history":[{"count":7,"href":"https:\/\/www.garbuttdumas.ca\/wp-json\/wp\/v2\/posts\/50180\/revisions"}],"predecessor-version":[{"id":50221,"href":"https:\/\/www.garbuttdumas.ca\/wp-json\/wp\/v2\/posts\/50180\/revisions\/50221"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.garbuttdumas.ca\/wp-json\/wp\/v2\/media\/50190"}],"wp:attachment":[{"href":"https:\/\/www.garbuttdumas.ca\/wp-json\/wp\/v2\/media?parent=50180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.garbuttdumas.ca\/wp-json\/wp\/v2\/categories?post=50180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.garbuttdumas.ca\/wp-json\/wp\/v2\/tags?post=50180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}