Woodframe Pre-Sale Pricing Snapshot as of May 2020

Highlights

• The data presented below are price per square foot (PPSF) averages for woodframe pre-sale homes, based on the date of each project’s first home sale.

• Woodframe pre-sale projects in Greater Vancouver that have launched in 2020 (through April) have sold at an average PPSF of $694, 9% above the 2019 year-end average of $636.

Additional Insights

A total of 10 woodframe pre-sale projects have launched in a variety of areas throughout Greater Vancouver in 2020 (through April).

In terms of pricing, the average price per square foot (PPSF) has increased in 2020 for each of the Burnaby, Coquitlam/Port Moody, and Langley/Cloverdale sub-markets. Burnaby has led the way by rising 4% (from $786 at the end of 2019 to $817 in 2020, through April). Coquitlam/Port Moody rose by 3% (from $765 to $787), while the Langley/Cloverdale sub-market rose slightly by 0.2% ($549 to $550). The PPSF declined for each of East Vancouver (by 10%, falling from $972 to $875), Vancouver West (by 7%, from $1,375 to $1,282) and Port Coquitlam (also by 7%, from $641 to $594). It’s important to note that due to the minimal number of woodframe 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.