Woodframe Pre-Sale Completion Snapshot as of January 2021
Mar 01, 2021
Written byRyan Berlin
Highlights• This update details the number of actively-selling, sold-out and contemplated woodframe pre-sale homes by sub-market and estimated year of completion. • By the end of 2020, 4,176 woodframe pre-sale homes are expected to be complete. • Of woodframe pre-sale homes expected to complete between 2020 and 2023, 82% are sold.Additional InsightsOf the 13,324 woodframe homes expected to complete between 2020-23, 82% have already been sold. The North Vancouver sub-market has the highest proportion of homes sold at 95%, followed by Surrey/Delta/White Rock and Langley/Cloverdale, both at 91%. Vancouver West (at 39%) is the only sub-market to have less than half of their woodframe inventory that is expected to complete between 2020-23 already sold.In terms of contemplated woodframe product, Surrey/Delta/White Rock has the largest number of homes at 12,708 (a 4% increase compared to the October 2020 Snapshot) while Langley/Cloverdale has the second highest at 7,143 homes (a 0.6% increase). In total, there are 40,445 contemplated woodframe pre-sale homes from Squamish to Abbotsford.Every three months, rennie intelligence provides a Woodframe Multi-family Completion update based on the latest data sourced from Urban Analytics' NHS Live database. As part of this update, the number of woodframe 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 team comprises our in-house demographer, senior economist, and market analysts. Together, they empower 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.
the kelowna rennie advance | March 2024
Home sales may have increased across the Central Okanagan in February, but only relative to January’s low total. When compared to previous Februarys' counts, last month’s tally was the lowest since 2013. Meanwhile, supply is expanding at an accelerating rate.
the victoria rennie advance | March 2024
Home sales in Greater Victoria are growing steadily to start the year, but they remain below historical levels and are struggling to expand at the rate of inventory.