Ok, the price of everyone's home has dropped. This is not news anymore. Unless you are living under a rock or on a desert island you've heard the news stories and seen the lack of sold stickers on for sale signs. The questions now are "how far has the market dropped?" and "will it keep dropping?". I would say that  Coquitlam, Port Moody and Port Coquitlam homes have dropped around 10%, possibly up to 15%. We are now seeing prices that existed in early 2006. That's really still quite high. It's possible that the market will continue to drop. It all depends on the number of sellers that "have to sell". As I've stated before, those sellers that have to sell will continue to reduce their prices until their property is sold. If the number of those sellers is greater than the number of ready, willing and able to buy buyers then prices will fall. It's really that simple. Right now I feel that there is some significant buying happening. It's possible that buyers are seeing the current market as the opportunity that they missed 2 years ago, and it is. Interest rates are low and should continue to be low for a few years. Prices are still high but buyers should consider it an opportunity.