If you are actively looking to buy in Coquitlam, Port Coquitlam, or Port Moody and you are considering new(er) construction, my insider's view is that the market right now is more interesting than it appears from outside. Spring was supposed to get increased activity — but it has not. Listings are sitting longer, sellers are slowly adjusting their expectations, and that means buyers have regained strong momentum to negotiate harder that has not been the case for years.
Most people, including my open house visitors that I talk to, read as waiting for a signal that it is safe to buy. I myself have buyers that I am working with right now who are using that hesitation to their advantage.
Why I am Talking New Construction Specifically
I have literally spent the last decade not just selling new construction in the Tri-Cities area. I have been part of developing it including working on multiplex projects in Coquitlam, subdivision projects in Port Coquitlam. I have directly worked with builders, I understand how they think about carrying costs, and I know what being flexible on terms actually means when a unit has been sitting on the market for 60 days.
This context matters right now because within new construction including condos, townhouses, duplex, and fourplex units, is where some of the most overlooked opportunities are sitting. Buyers often see a new build and assume the price is fixed. The marketing looks polished and buyers move on, assuming there is not much room to negotiate. In my mind, this is an area where some good opportunities are being missed, especially right now.
What Is Actually Happening in the Tri-Cities Market
In areas like Maillardville, Burquitlam, and near Lougheed Mall (think Burnaby/Coquitlam border areas), inventory for newer units is sitting longer than builders anticipated when they started construction for these projects. And that changes the dynamic considerably.
A builder who is carrying unsold units has real monthly costs, right from financing to insurance to opportunity costs. After a lisitng has been on the market for about 45 days or so, the conversation about price expectation, credits, and terms starts to become very different than it was on day one of listing. Most buyers never get to that conversation because they have already moved on.
Across the board: well-priced starter homes that show well and include a rental suite are still selling relatively easier. Outside that, almost everything seems worth negotiating — typically selling anywhere from 3% to 5% off depending on listing price. For new construction duplex or fourplex units priced within the $1M–$1.5M range, this is a meaningful number.
The $2M Ceiling and What It Means Below It
I am noticing a visible slowdown above the $2M price threshold across Coquitlam and Port Moody. Homes that would have cleared that threshold without much friction 12 months ago are now sitting, seeing reductions, and still facing real buyer resistance.
And that is creating pricing pressure downstream — on everything below it. Move-up buyers who were planning to sell around the $1.8M to $2M range are adjusting. That adjustment ripples into the new construction duplex and fourplex segments, which is exactly one of the areas I would be looking in if I were buying today.
I recently worked through a situation with my buyers where a luxury property in Coquitlam came back on market after their deal collapsed. The seller is still anchored to a number the market has already moved past. That gap between expectation and reality is where opportunities get created — if you are positioned and paying attention.
Who This Actually Suits
Whether you are a first-time buyer looking to purchase a condo, or considering a duplex or fourplex unit for the first time, new construction in this market offers something the resale market often does not: room to negotiate on a clean, new product with a warranty.
The buyers I see making good decisions right now are not necessarily waiting for perfect conditions. They are watching listings that have been sitting, paying attention to where builder motivation is increasing, and acting before the window tightens.
They are also asking the right questions that most buyers don't know to ask — whether it is GST implications, builder credits versus price reductions, and what comparable sales actually look like for a product category that does not have deep resale history. That is where having someone who has been on the development side of this equation makes a real difference.
If You Are Actively Looking
If you have new construction anywhere on your list — whether it is a condo near a SkyTrain station, a townhouse, or a duplex/fourplex unit — I am happy to give you a straight read on what has real room to move and what does not. No pitch. Just a conversation grounded in what is actually happening on the ground right now.