April 6, 2018 April 2018 Pre-Sale Report, Strong Sales Activity for First Quarter Our research team and analysts, MLA Advisory, has released the April 2018 Pre-Sale Real Estate Insights report.
Over 1,500 New Homes Launched in March
The first quarter of 2018 saw strong sales activity for multi-family projects. March had over 1,500 new pre-sale units come to market, and we are expecting about a 60 per cent sold rate for same month sales.
Another Fantastic February 70% Sold for New Releases
February 2018 had just over 1,800 pre-sale units released throughout Greater Vancouver and the Fraser Valley and just in time for Chinese New Year. Within four weeks 70 per cent of the new inventory sold in February.
“MLA Advisory anticipates pre-sales in Greater Vancouver will slow over the next quarter compared to record sales absorptions in the previous 18 months. However, signs still indicate strong demand particularly at entry and mid-level price bands,” explains Suzana Goncalves, Chief Advisory Officer of MLA Canada.
April to Experience a Slight Drop-off in Activity, but to Pick-up in May
After a busy first quarter, April will see a slight decrease in inventory with just over 1,000 pre-sale homes slated for release this month. This will once again pick up in May as developers take advantage of the spring market.