By Zoocasa on April 21, 2023
Estimated reading time: 6 minutes

Where to Buy Real Estate in Canada 2023: The Tri-Cities, B.C.

By Zoocasa on April 21, 2023
Estimated reading time: 6 minutes

Homes priced properly in these neighbourhoods of Coquitlam, Port Coquitlam or Port Moody are likely to move quickly in 2023.

Lafarge Lake in Coquitlam, B.C. Photo by Greg_Salter from Wikimedia Commons

What’s included on this page

Best places to buy real estate in the Tri-Cities
How to read the table
What’s happened in the Tri-Cities real estate market?
What’s next for real estate in the Tri-Cities?
The Tri-Cities’ top three neighbourhoods

Methodology

Best places to buy real estate in Coquitlam, Port Coquitlam and Port Moody

In the table below, you’ll find the top neighbourhoods for real estate purchases in Coquitlam, Port Coquitlam and Port Moody—a B.C. region known as the Tri-Cities. To view all the data, slide the columns right or left using your fingers or mouse. You can download the data to your device in Excel, CSV and PDF formats.

wdt_ID	Rank	Neighbourhood	City	Benchmark price 2022	1-year growth	3-year	5-year	Value	Economics	Accessibility	Children
1	1	Eagle Ridge	Coquitlam	$1,007,216	18%	37%	57%	1.8	1.0	0.2	60%
2	2	Moody Centre	Port Moody	$877,860	14%	31%	54%	1.7	0.9	0.1	47%
3	3	Sun Valley	Port Coquitlam	$453,977	27%	101%	82%	5.0	0.2	0.2	46%
4	4	Westwood Plateau	Coquitlam	$1,283,411	16%	36%	41%	0.8	1.0	0.2	60%
5	5	College Park	Port Moody	$1,103,083	9%	42%	51%	0.9	0.9	0.1	47%
6	6	Heritage Mountain	Port Moody	$1,646,043	22%	53%	54%	0.8	0.9	0.1	47%
7	7	Heritage Woods	Port Moody	$1,566,735	21%	48%	49%	0.8	0.9	0.1	47%
8	8	Northeast	Coquitlam	$1,999,475	21%	41%	74%	0.1	1.0	0.2	60%
9	9	Port Coquitlam	Port Coquitlam	$957,247	18%	45%	59%	2.1	0.6	0.8	47%
10	10	Mary Hill	Port Coquitlam	$1,217,612	16%	42%	47%	1.1	0.6	0.8	47%
11	11	Ranch Park	Coquitlam	$1,515,129	21%	51%	50%	0.9	0.6	0.8	47%
12	12	Birchland Manor	Port Coquitlam	$1,324,953	23%	55%	82%	2.1	0.2	0.2	46%
13	13	Maillardville	Coquitlam	$922,921	11%	55%	76%	2.1	0.1	0.7	42%
14	14	Oxford Heights	Port Coquitlam	$1,364,778	19%	49%	52%	1.1	0.2	0.2	46%
15	15	Cariboo-Burquitlam	Coquitlam	$531,092	2%	18%	58%	1.6	0.0	1.0	42%
16	16	Hockaday-Nestor	Coquitlam	$1,802,234	23%	45%	47%	0.3	0.2	0.2	46%
17	17	Cape Horn	Coquitlam	$1,559,062	18%	39%	48%	0.4	0.1	0.7	42%
18	18	Central Coquitlam	Coquitlam	$1,529,567	15%	31%	38%	0.0	0.0	1.0	42%

Source: Zoocasa

Return to menu.

How to read the table:

Benchmark price 2022: The composite benchmark price as of Dec. 31, 2022. It represents all property types, including attached and detached homes, townhouses/row units and apartment units.
1-year, 3-year and 5-year growth: The percentage increase or decrease in the composite benchmark price (all property types) over each time frame.
Value, economics and accessibility: These neighbourhood characteristics are each scored on a scale of 0 to 5, with five representing the most value for your money, high levels of income and education, and ease of travel by foot, bike and public transit.
Children: The neighbourhood’s percentage of households with kids.
Read the detailed methodology behind our rankings.

Return to menu.

You’re 2 minutes away from getting the best mortgage rates in CanadaAnswer a few quick questions to get a personalized rate quote*

I'm buying a home I'm renewing/refinancing

You will be leaving MoneySense. Just close the tab to return.

What’s happened in the Tri-Cities real estate market?

The average price of a Port Moody home was $1,079,300 at the end of December 2022, while in Coquitlam it was $1,044,700. The area saw home price appreciation of 10% last year, and ever-tightening affordability meant that some prospective home buyers couldn’t enter the market as planned.

“Many first-time home buyers were looking to buy in the Tri-Cities last year, but with less affordability, they purchased what they could afford or had to move to the sidelines,” says local eXp real estate agent Geoff Pershick. (Zoocasa, the author of this study, is wholly owned by eXp World Holdings.) However, doors opened for investors and other buyers with large budgets as the provincial government changed B.C. housing regulations with a focus on strata properties (condominiums), explains Pershick.

“Last year, the government of B.C. removed rental restrictions to strata properties, which created many opportunities for buyers. This was great news for investors, especially in the Tri-Cities because there are a large number of pre-sale condo apartments currently in development,” he says. The December 2022 benchmark price of a condo apartment in Port Coquitlam was $599,200, up 5.2% from 2021.

Return to menu.

See the full report: Where to Buy Real Estate
READ NOW

What’s next for real estate in the Tri-Cities?

The popularity of condo apartments in the Tri-Cities is likely to continue through 2023, partly due to the affordability problem. With high prices and tight conditions, as well as higher interest rates than before the pandemic, many buyers will look for more affordable options or continue to wait on the sidelines.

“This year, I expect the strong demand for condos from investors and first-time buyers to persist,” says Pershick. “When homes are priced properly in the area, they move quickly.”

Pershick continues: “Affordability and lack of supply are the core issues in the area. Because supply remains tight and interest rates are still high, we may experience a relatively flat year for sales.”

Return to menu.

Top neighbourhoods in other regions

Top three neighbourhoods in the Tri-Cities

1. Eagle Ridge, Coquitlam

Bordering Port Moody on one side and Port Coquitlam on the other, Eagle Ridge is a family-oriented neighbourhood with both city life and quiet residential streets. Reaching above the $1-million mark for the first time, Eagle Ridge homes had an average price of $1,007,216 at the end of 2022, up 18% from one year earlier and up 57% from five years earlier. Eagle Ridge has a value score of 1.8 and an economics score of 1, which is lower than other top-ranked neighbourhoods in our report, but high enough to give the Tri-Cities a title on our list of best cities in Canada to buy real estate. The neighbourhood has both elementary and secondary schools, an attraction for the 60% of households that have children. The one drawback is Eagle Ridge’s low accessibility score of 0.2.

View Eagle Ridge real estate listings on Zoocasa.

2. Moody Centre, Port Moody

Residents of Moody Centre have access to an abundance of amenities including two SkyTrain stations and numerous businesses, as well as hiking and biking trails. The area has seen a lot of development in the past several years, and this is reflected in its rising home prices. Homes sold for an average of $877,860 at the end of 2022; the average price was 14% higher than one year earlier and 54% higher than five years earlier. Nearly half (47%) of Moody Centre’s household have kids, and the neighbourhood has four schools. However, the area has an accessibility score of just 0.1.

View Moody Centre real estate listings on Zoocasa.

3. Sun Valley, Port Coquitlam

Sun Valley stands out as the most affordable location of the Tri-Cities area on our list, with an average home price of $453,977 at the end of 2022. Also notable: This Port Coquitlam neighbourhood has seen the largest growth on our full list across the country. The average price was 27% higher than one year earlier and 82% higher than five years earlier. This gives Sun Valley a perfect value score of 5, but it scores just 0.2 on neighbourhood economics. A good percentage (46%) of Sun Valley households have kids. However, accessibility is low at 0.2.

View Sun Valley real estate listings on Zoocasa.

Return to menu.

What type of article am I reading?

This content package is presented by an advertising partner. It was independently produced by MoneySense in collaboration with Zoocasa and is presented with financial support from Ratehub.ca.

About Zoocasa

Zoocasa is an award-winning consumer real estate search portal. It uses data and technology to deliver an intelligent, end-to-end real estate experience.