Market IntelligenceEconomy

Concrete Pre-Sale Completion Snapshot as of October 2020

 

Nov 20, 2020

Written by 

Ryan Berlin

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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, 9,115 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 36,069 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 90% and East Vancouver and Downtown Vancouver slightly behind at 87% and 85% respectively. 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 69% (a substantial improvement from the 49% last quarter).

In terms of contemplated concrete product, Burnaby leads the way with 30,765 potential future homes coming to market, while Coquitlam/Port Moody has the second most with 30,120. In total, there are 126,655 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.

Written by

Ryan Berlin

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Disclaimer: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.

Disclaimer: This is not an offering for sale. Any such offering can only be made by way of disclosure statement. E&OE. The developer reserves the right to make changes and modifications to the information herein without prior notice. Photos and renderings are representational only and may not be accurate.