ULI BC Annual Platinum Sponsor, MLA Canada,’s November 2017 Monthly Report:
As the year winds to a close, we know it’s common to see the housing market slow down but November was still an active month with resale apartment inventory hitting a low for the year, and more than expected pre-sale units released to market. I wanted to share some interesting data that is showcased in the MLA Canada Real Estate Insights November 2017 Report.
GREATER VANCOUVER RESALE & PRE-SALE HIGHLIGHTS
- MLA Advisory November 2017 Monthly Report copy Apartment resale inventory had the lowest number of listings in November, indicating a shortage of inventory which led to a high sales-to-active listings ratio and price growth.
- November saw a surge in new multi-family developments with 2,100+ units likely due to the change in mortgage rules coming up in January 2018.
- 13 of the 25 new pre-sale projects launched in November were townhome developments.
- Brentwood continues to be one of the highest performing markets in the country. Since 2012 an estimated 5,300 condominiums have been released and price per square foot has almost doubled from $540 to $1,008 in five years.
For the full report click here.