Here's What $500,000 (or Less) Will Buy You in the Tri-Cities (2023)

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This month, we're looking at pricing in the Tri-Cities.

For those with a passing familiarity with Port Moody, Port Coquitlam and Coquitlam, yes it's confusing, here's a quick rundown.

Port Moody is the one with access to Burrard Inlet and beer, lots and lots of craft breweries to be exact. They're lined up across from Rocky Point Park, a popular family spot on the Inlet. The city has positioned itself as the "City of the Arts" and its attractions include the Port Moody Arts Center. PM, the smallest of the Tri-Cities, is bordered by Coquitlam to the east and south and Burnaby to the west. According to2021 Census, the population is just over 33,500.

On the north bank of the Fraser River, where it joins the Pitt, we find the bedroom community affectionately known as PoCo. The 2021 census put the population at 61,498. On the north bank of the confluence of the Fraser River where it meets the Pitt, Port Coquitlam lies below Coquitlam and is bordered on the west by the Coquitlam River.

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With a population of 148,625, Coquitlam is the sixth largest city in British Columbia. The area has attracted French-Canadian sawmill workers thanks to Fraser Mills, a state-of-the-art sawmill opened in 1889 and now home to Maillardville, West Manitsoba's largest French-speaking centre. You might have partied French-Canadian style at the annual Festival du Bois. Coquitlam is also home to Lake Como, an urban fishing and recreation area. Port Moody is to the west and PoCo to the southeast. It's about six times the size of Port Moody or Port Coquitlam.

According to the February REBGV report, Tri-City home sales saw a slight increase, particularly in Coquitlam, in monthly home sales between January and February.

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The report notes that Coquitlam saw condo sales increase from 48 to 84. Port Moody and Port Coquitlam saw smaller increases. All three also saw increases in single-family homes, with only Port Moody seeing a (slight) decline in townhouses.

Reference prices in Coquitlam were $999,900 for a townhouse, $663,100 for an apartment, and $1,694,000 for a single-family home. In Port Coquitlam, prices were slightly lower, with townhouses selling for $884,700, condos for $611,500 and single-family homes for $1,282,000.

Port Moody is the most expensive property at $705,400 for an apartment and $1,969,000 for a single-family home. However, PM's condo benchmark was somewhere in the middle at $984,000.

Coquitlam

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It's still possible to buy a condo here for less than $500,000 - nine as of this writing. Nineteen single-family homes were listed between $1 million and $1.5 million.

491.000 $

Avenida Gauthier, 302-808.

One bed, one bath, 530 square feet. I never lived on a big porch in the Otto Building in West Coquitlam, north view. Move-in ready with full warranty and shiny hard floors, parking, in-suite laundry, close to Braid SkyTrain and Lougheed Town Centre.

Puerto Coquitlam

PoCo has a lineup of 10 condos under $500,000 starting at $448,000. March,rew.caHe listed 25 homes between $1 million and $1.5 million.

499.900 $

108-2340 Avenida Hawthorne

Located on the ground floor, "in the heart of Port Coquitlam, just steps away from the shops", this 718 square foot one bedroom apartment features a 215 square foot partially covered balcony. The kitchen and living room have been updated, the latter has a gas fireplace and the ceiling height is 9ft and includes an indoor laundry room.

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475.000 $

Grant Avenue, 111-1669.

Pets are welcome in this 60m2 one bedroom apartment near McLean Park. Amenities include a new stainless steel refrigerator, stove, extractor fan, and dishwasher, updated light fixtures, and a "renovated" bathroom with a new bathtub (2020). A large partially covered terrace and amenities such as a common room for entertainment and a fitness center add to the charm.

grumpy port

As of this writing, we have found three condos listed under $500,000. Two single-family homes cost less than $1.5 million.

499.900 $

212-3142 St. Johns St.

This 623 square foot one bedroom condo features an open kitchen with built-ins including granite countertops and stainless steel appliances. A large covered porch is another selling point. It is located in the Sonrisa building, which includes amenities such as a large indoor pool, hot tub, gym and courtyard garden. And the location is a short walk to Rocky Point, craft breweries, and the Suter Brook Village mall.

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429.999 $

303-3240 St. Johns St.

This 452 square foot one bedroom condo features updated paint, laminate and tile floors. The south facing condo features a balcony and gas fireplace and is fully furnished. Building amenities include fitness and game rooms and walking distance to public transport, craft breweries and the village of Suter Brook. Pets allowed.