Real Estate for Sale in Port Moody

Situated in British Columbia, the city of Port Moody has a population of 32,975. The 19.9% population growth rate for the city is above average when compared to other Canadian cities.

There are 30.23% of immigrants in Port Moody, 5.66% of which are recent arrivals to Canada. Beyond English, the most common language spoken is Korean, with 5% of residents reporting it as their mother tongue. The largest cultural community within Port Moody is English at 28%, trailed by Scottish at 20% and Canadian at 19%.

Port Moody delivers strong employment prospects with an unemployment rate near 7%, which is average when compared to other cities. Roughly 66% of residents hold a university degree. Residents can anticipate an exceptional quality of life in Port Moody owing to an above average median family income of $79,918.

According to Statistics Canada, 81% of Port Moody residents drive. Approximately 13% of residents who are already established within the city will move within a year, while 46% will move within five years.

Port Moody’s population skews above average regarding homeownership, with 77% owning a property and 23% renting. The median monthly mortgage cost is estimated at roughly $1,529, which is above average when set against renters in other Canadian cities.

In the Canadian real estate context, Port Moody is a rewarding place to establish a foothold in the real estate market.

A swift review of MLS® listings reveals plenty of homes for sale in Port Moody. That doesn’t mean navigating this market is straightforward. In Canada’s real estate landscape there are heated pockets of activity—zones where bidding wars and sold-over-asking are the norm. To be successful in your property search, talk to a local Realtor®. As a specialist, a local Port Moody real estate agent can steer you to areas matching your requirements and housing aligned with your budget.

Port Moody properties stay on the market for 18 days, on average and sell for 97.71% of the median list price. Detached houses for sale in Port Moody comprise 26% of listings and sell for a median price of $2,099,900. Port Moody condos represent 58% of the real estate currently for sale and sell for a median price of $750,000. The remaining 16% are townhouses, which sell for a median price of $998,800.

To be competitive in Port Moody’s real estate landscape you should come prepared. Talk to a realtor or mortgage advisor to determine what you can realistically afford.

As of the latest reporting period, Port Moody’s median sale price sits at $747,500. This figure is calculated by identifying the mid-point price of all properties sold within a specified period of time. If, for instance, 30 condos changed hands last month and only 11 detached homes sold in the same time frame, then the median price would skew downward to capture the larger volume of lower-priced condos. At present, Port Moody has 65 houses for sale, 41 townhomes for sale and 148 condos for sale.

Port Moody is recognized as a city of outstanding localities. To assist your search for the ideal community, explore each of Port Moody’s 7 distinct neighbourhoods. Better still, dedicate a weekend to visiting open houses in Port Moody. Engage the agent on duty regarding the neighbourhood. Their local expertise will aid in pinpointing the best location to establish roots in the Canadian real estate market.

Numerous prospective homeowners pursue homes for sale in districts farther from Port Moody’s downtown core. Suburban areas typically provide larger homes on more spacious lots. For expanded options, consider commuting into Port Moody’s core from a nearby municipality, such as Pitt Meadows, Coquitlam, and Burnaby. Even neighbouring cities requiring a slightly extended commute, such as Surrey, Langley, and Richmond, are viable choices as they feature excellent housing selections, frequently at more economical prices.

Purchasing a home means securing a stake in a neighbourhood, so gaining familiarity with your prospective community is worthwhile. Here’s a snapshot of Port Moody’s demographics, encompassing median age, schools and income, derived from census information provided by Statistics Canada.

For those weighing a Canadian real estate purchase to raise a family, take heart: Port Moody is home to top-rated elementary and secondary schools. To assist with your Port Moody housing market search, below are the leading five institutions in each category. (Explore further in our school guide.)

According to Statistics Canada, residents in Port Moody rely on a variety of methods to navigate the area.

According to current Port Moody MLS© statistics, the average home listing price in Port Moody, BC is $1,329,000. Based on Port Moody housing inventory, the typical home is listed on the market for 27 days and achieves a 97.9% selling to listing price ratio.

Based on current Port Moody MLS© data, the average detached house in Port Moody, BC has a listing price of $2,509,000. In Port Moody, detached houses remain on the market for 71 days on average.

According to current Port Moody MLS© data, the average condo in Port Moody, BC has a listing price of $760,000. In Port Moody, the average price for a 2-bedroom condo is $779,000 and the average price for a 1-bedroom condo is $574,000.

In Port Moody, BC, the most expensive neighbourhoods to buy a home include Anmore, Barber Street, Heritage Woods PM and Heritage Mountain. Anmore is the most expensive neighbourhood in Port Moody with an average home price of $3,339,000.

The most affordable neighbourhoods to buy a home in Port Moody include Port Moody Centre, North Shore Pt Moody, College Park PM and Heritage Mountain. Port Moody Centre is the most affordable neighbourhood in Port Moody with an average home price of $1,117,000.

The nearest cities to Port Moody, BC include Anmore, Coquitlam, Port Coquitlam and New Westminster. Among the surrounding Port Moody cities, Anmore has the highest average home price of $2,889,000 and New Westminster has the most affordable average home price of $1,050,000.

The average townhouse in Port Moody carries an average listing price of $1,182,000, representing an 8.5% shift in price from the prior year. There are presently 42 townhouses for sale in Port Moody, BC.

According to Statistics Canada Census data, the median total household income in Port Moody is $79,918 per year, exceeding the national median income of $67,000 annually.

In Port Moody, BC, fewer residents rent than own at 23.1% renting versus 76.9% owning. The median monthly rent price comes to $3,200 per month contrasted with the median monthly mortgage of $3,800 per month.