MLA Canada’s latest fall report shows multi-family developments for September and October 2017 saw a steady supply being released to market. The November forecast is for 12 project launches which will bring an estimated 1,200+ units.

October 2017 was one of the busiest fall months with 17 multi-family projects released across Greater Vancouver. New price thresholds were achieved in many of these markets. Most notably Central Surrey achieved approximately $750 PPSF and Main Street corridor reached a record for pre-sale concrete at $1,400 PPSF. The growth continues over in North Vancouver with over 150 units released to market, currently all wood frame inventory, with one project averaging $840 PPSF. Cambie Corridor set another record at $1,435 price per square foot.

For details on the fall season pre-sale home activity, read MLA Advisory’s October 2017 Monthly Report.