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Multi-family Pre-Sales Pricing Update - Q3 2018
 

Sep 27, 2018

Written by 

Ryan Berlin

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Each quarter, rennie Intelligence provides a Multi-family Pricing Update based on the latest data sourced from Urban Analytics' NHS Live database. The data presented are price per square foot (PPSF) averages for concrete, woodframe, and townhomes combined, based on the date of each project's first home sale.

https://cdn.rennie.com/images/images/001/503/419/original/Q3_2018_PSF_Sales_Map%28REBRAND%29.jpg

Data highlights

  • Pre-sale projects in Greater Vancouver that have launched in 2018 (through July) have sold at an average PPSF of $848, versus a 2017 year-end average of $826.
  • The highest average PPSF achieved through April 2018 was in Downtown Vancouver, at $3,037 (down from $3,300 in Q2 2018), while lowest was in Abbotsford at $436.
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https://cdn.rennie.com/images/images/001/503/422/original/Q3_2018_PSF_Sales_Chart%28REBRAND%29.jpg

What this means for youPredictably, there is a distinct price gradient, from high to low, emanating outwards from the Downtown Core. And while PPSF continues to rise throughout the region, there are good value options within a multitude of transit notes (including Surrey City Centre) and along rapid/frequent transit corridors (for example, along with the new Evergreen Line).

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.