Presales Update - been working on other businesses and projects (brief vacay as well) - back in the swing and ready for lots of projects in the fall.
Lots of sales offices all closed/reduced hours for the mid Aug summer break.
Despite slower existing sales market, presales seem to continue their trend of near sold-out for most part or at least hitting construction milestones.
May-Aug figures from MLA all show 70% sold for the projects they tracked.
Personally "investor" clients are going further, Surrey, Langley, and even Abbotsford/Chillwack seem be the next frontiers for $300K cheap 1BR specials.
data here:
https://mlacanada.com/newsfeed/busy-...-for-pre-sales
Vancouver
Onni Cambie Gardens - First tower is about 65%+ sold. $1500/ft at Langara Gardens.
Camelia - 80% gone all 1BR ($900K) sold out at Cambie corridor
OAKRIDGE by Westbank! This is one I'm personally interested - not only because I know the area well but because it's interesting to see this Van West landmark being rejigged to a massive alien futurescape 20+ tower hub.
Brentwood
Gilmore Place will have a big marketed opening for Tower 2 (Gilmore/Lougheed) but we got clients in on Tower 1 & 3 at a good price point. 60%+ sold easily from the allocation grids.
Surrey
Park George - next Concord project. Should continue to do well. King George skytrain hub by Coast Capital addition. $1000/ft expected
LINEA - sold out except for about 5 larger units at nearly $1000/ft.
King George Hub 3 (PCI) - Tower 1/2 last oct was insane. This will be $1000/ft and likely crazy too.
AVANI Center remember this? They didn't even build the sales center and sold 70% of the building. Coming up in Sept formal launch, LOL. $299K unit was 420sq no parking. Add parking and options, $350K realistically.
Langley Willoughby pretty hot lately. $600/ft. Clients that bought here are up 2X in 1.5 years.
Alexander Square - $299K 1BR units 520K
Hudson + Singer $250K units blow out - sold out 80%. $500K remaining units 3BR.
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PRO-TIP - market's so slow now developers are giving us incentives - $5-30K depending on closing.
Ask your realtors for some love - I'm pretty upfront with my clients - I'll happily send something your way if its not a hotly sought after unit that I have 10 other clients for.
It's the same price through me or direct through developers, at least I'll spot you back few thousand to make it worth your while, right?
