Woodframe Pre-Sale Completion Snapshot as of July 2020

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, 4,895 woodframe pre-sale homes are expected to be complete.
• Of woodframe pre-sale homes expected to complete between 2020 and 2023, 74% are sold.

Additional Insights

Of the 12,430 woodframe homes expected to complete between 2020-23, 74% have already been sold. The North Vancouver and New Westminster sub-markets have the highest proportion of homes sold at 96%, followed by Squamish at 90%. Vancouver West (at 41%) is the only sub-markets 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 10,815 (a 4% increase compared to the May 2020 Snapshot) while Langley/Cloverdale has the second highest at 7,026 homes (a 9% increase). For the second straight quarter, a notable increase was seen in the number of contemplated woodframe homes in Abbotsford which jumped 37% (from 3,012 in the May 2020 Snapshot to 4,124 in the July 2020 Snapshot). In total, there are 38,538 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 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.