Concrete Pre-Sale Completion Snapshot as of July 2020

Highlights

• This update details the number of actively-selling, sold-out and contemplated concrete pre-sale homes by sub-market and estimated year of completion.
• By the end of 2020, 9,072 concrete pre-sale homes are expected to be complete.
• Of concrete pre-sale homes expected to complete between 2020 and 2024, 82% are sold.

Additional Insights

Of the 35,138 concrete homes expected to complete between 2020-24, 82% have already been sold. The majority of sub-markets sit above a 70% sold rate, with Burnaby leading the way at 89% and East Vancouver slightly behind at 87%. For concrete homes expected to complete between 2020-24, there is one sub-market that falls below 70% of homes sold: Pitt Meadows/Maple Ridge at 49% (reflecting the project Highpointe which is expected to complete in 2022).

In terms of contemplated concrete product, Burnaby leads the way with 32,962 potential future homes coming to market, while Coquitlam/Port Moody has the second most with 31,773 (an increase of 11% from the May 2020 Snapshot). In total, there are 131,860 concrete pre-sale homes being contemplated from Squamish to Abbotsford.

Every three months, rennie intelligence provides a Concrete Multi-family Completion update based on the latest data sourced from Urban Analytics' NHS Live database. As part of this update, the number of concrete homes associated with actively-selling, sold-out, and contemplated multi-family projects are presented, by sub-market, and by their estimated year of first occupancy. These dates of first completion reflect direct estimates provided by NHS Live. 

Our rennie intelligence division empowers individuals, organizations, and institutions with data-driven market insight and analysis. Experts in urban land economics, community planning, shifting demographics, and real estate trends, their strategic research supports a comprehensive advisory service offering and forms the basis of frequent reports and public presentations. Their thoughtful and objective approach truly embodies the core values of rennie.