Concrete Pre-Sale Pricing Snapshot as of May 2020

Highlights

• The data presented below are price per square foot (PPSF) averages for concrete pre-sale homes, based on the date of each project’s first home sale.
• Concrete pre-sale projects in Greater Vancouver that have launched in 2020 (through April) have sold at an average PPSF of $1,186, 20% above the 2019 year-end average of $993. That being said, if the project 1818 Alberni (at $2,700 PSF) is
  excluded from the 2020 average, it falls to $783 (21% below the 2019 year-end average).

Additional Insights

There have been 8 concrete pre-sale projects that have launched in 2020 (through April): three in Vancouver West, two in Coquitlam, one in Burnaby, one in Downtown Vancouver, and one in Richmond.

In terms of pricing, the Burnaby and Vancouver West sub-markets saw an increase in their average price per square foot (PPSF) during the first quarter of 2020. At $876 in 2019, Burnaby’s PPSF increased 20% in 2020 (thanks solely to Highline in Metrotown) while Vancouver West’s PPSF rose by 3% (from $1,688 to $1,745). Coquitlam/Port Moody, with a PPSF of $885 in 2019, fell 2% in 2020 (to $866) while Richmond fell 15% (from $1,092 to $930). It’s important to note that due to the minimal number of concrete projects launched in 2020 (through April), the PPSF data is limited.

Every three months, rennie intelligence provides a Concrete Pre-Sale Pricing Snapshot based on the latest data sourced from Urban Analytics' NHS Live database. The data presented are price per square foot (PPSF) averages for concrete product based on the date of each project's first home sale. 

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.