Weekly market briefing
Burnaby & Tri-Cities
Market Brief
May 2, 2026 · Rob Skoko | MAXIMUM Mortgage Solutions
Happy almost-weekend! Spring is officially here in Burnaby and across the Tri-Cities, Coquitlam, Port Coquitlam, and Port Moody, and with the cherry blossoms giving way to the first warm stretch of the season, there's a lot to look forward to, both outdoors and in the market.
This week brought notable news on the economic front, a standout new listing worth knowing about, and a great lineup of local events to enjoy. Here's your weekly rundown.
The theme across our local markets right now is consistent: buyers have options and negotiating room, and those who are prepared are finding real value.
| Detached homes | High $1.7M to $2M+ |
| Townhomes | ~$1,110,000 avg |
| Condos / apartments | ~$686,500 median |
The Tri-Cities remain one of the most compelling value propositions in Metro Vancouver right now. Lifestyle, transit access, and community quality stack up extremely well against the price point, and buyers doing the math are noticing.
| Coquitlam, condo | ~$690,000 avg |
| Coquitlam, detached | ~$2,204,000 avg |
| Port Coquitlam, townhome | ~$1,068,000 avg |
Port Coquitlam in particular is gaining momentum as a value story, newer developments, SkyTrain proximity, and a walkable downtown are drawing buyers who might have previously looked further west.
Bottom line: This market rewards preparation. Buyers with financing arranged and a clear picture of their budget are the ones finding real value right now. Let's get you ready.
- ✓End unit with extra windows, noticeably brighter than a standard unit and rarely available at this price
- ✓Updated kitchen with quartz countertops, high-end stainless appliances, and a large eat-up island open to the dining area
- ✓Large deck off the living room, plus a single garage and carport, great for families
- ✓Heat pump already installed, a meaningful upgrade that cuts energy costs year-round
- ✓Steps to trails, a golf course, and local breweries, the walkable lifestyle people pay a premium for elsewhere
Interested in a showing? Email Rob and he'll connect you with the listing agent. You can also search MLS# R3113995 directly on Realtor.ca.
The Bank cited a complex and uncertain economic backdrop. Inflation is expected to moderate toward the 2% target over the coming year. Economic growth is forecast at a modest 1.2% for 2026, with the labour market remaining softer than previous years and some sectors feeling ongoing trade pressures.
What this means in plain language: Borrowing costs aren't moving in either direction right now. Future decisions will depend heavily on how conditions evolve, particularly around trade uncertainty with the U.S.
For homeowners with variable-rate mortgages or upcoming renewals, this stability is a window worth planning around, not a reason to wait. Book a no-obligation call to review your options.
Rob is not quoting specific rates or making predictions. Every borrower's situation is unique. This is general market context, not financial advice.
Markets navigated a notably complex week, geopolitical tension in the Middle East weighed on equities broadly. Gold miners gave back some recent gains while the energy sector held up on rising oil prices.
Government of Canada bond yields remained relatively rangebound, broadly neutral news for anyone planning a mortgage renewal, as bond yields are a key input into fixed mortgage pricing. After two strong years for Canadian stocks, analyst forecasts for 2026 are calling for more measured gains, signalling a shift toward caution and selectivity.
U.S.-Canada trade dynamics remain the key wildcard. For real estate, this is worth watching, tariff impacts on construction materials and the labour market can influence housing supply and affordability over time. The overall picture: a measured, watchful environment, not a time for panic, but a good time to ensure your plans are built on solid ground.
Know someone thinking about buying, selling, or renewing?
The clients I most enjoy working with come through introductions from people like you. No hard sell, no pressure, just a genuine conversation about their situation and options.
Simply reach out and say "Hey, can you connect with [name]?" and I'll take it from there, and treat them exactly the way I'd treat you.
