Concrete Pre-Sale Completion Snapshot as of January 2020
Highlights
  • This update details the number of actively-selling, sold-out, and contemplated concrete pre-sale homes by sub-market and estimated year of completion.
  • By the end of 2020, 11,084 concrete pre-sale homes that are currently under construction are expected to complete.
  • Of concrete pre-sale homes expected to complete between 2020 and 2024, 79% are sold.

Additional Insights
Of the 35,391 concrete homes expected to complete between 2020-24, 79% have already been sold. The majority of sub-markets sit above a 73% sold rate, with Burnaby leading the way at 87% and Downtown Vancouver and East Vancouver both at 83%. For concrete homes expected to complete between 2020-24, there are two sub-markets that fall below 73% of homes sold: Richmond at 65% and Pitt Meadows/Maple Ridge at 27%.

In terms of contemplated concrete product, Burnaby leads the way with 30,774 potential future homes coming to market, while Coquitlam/Port Moody has the second most with 20,660. Vancouver West has 16,036 contemplated concrete homes, which is almost double the number reported in the October 2019 Snapshot (8,849). In total, there are 118,605 concrete pre-sale homes being contemplated throughout Greater Vancouver (Squamish to Abbotsford).

Every three months, rennie intelligence provides a Concrete Multi-family Completion update based on the latest data sourced from Urban Analytics' NHS Live database. As part of this update, the number of concrete 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 occupancy 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.

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