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From what I'm hearing it's becoming more of a balanced sector. Good value deals are still being snatched up fast, lots of money still on sidelines.
Quality developer, reasonable prices with access to Skytrain are still moving in terms of presales condos/TH. Will get some data out soon from MLA and the quant side.
Project updates (those I'm familiar with)
Surrey/Langley
Georgetown Anthem
Allocation starting/sales started for VIPs. Going fast but Anthem holding lower floor units until later. Public sale won't be until May when PC is done.
Studios start $299K and 1BR mid $350's+ to low $400's (with parking) for about 470ft.
Langley
Alexander Square Phase 1 pretty much done, $299K 1BR+parking snatched up quick. RDG is a good developer and this still beats renting for starter families. Willoughby area is great but don't hold your breathe for mass transit and LRT from Surrey anytime soon... when it DOES come this should be a prime hub.
Yorkson Square/Park/Residences4 phases all sold out 1BR $300's 700ft. 2BR are quite large and 1100+ ft and $620's to start. Selling well and 2.5 year completion.
Brentwood
AKIMBO moving well but definitely slower than before. Lots of 1/2BR still available. I'd guesstimate about 40% sold so far, IMANI is a good developer but I can imagine they'd want to move ASAP so they can hit financing milestones next few months.
Richmond
Galleria
Concord Pacific - great name brand and doing well.
Atmosphere
Massive 10+ tower redevelopment in Richmond.
Selling well especially over Chinese New Years with a large 3% discount.
Vancouver
Concord W1Some developer remaining units 1BR selling for $700K for about 550ft + parking. Will be interesting to see how Marine Gateway is valued - though $1100-1200/ft seem acceptable.
OAKRIDGE I think we can all agree this is pricy - $1.2-1.4M for 1BR 600ft tops is essentially over $2000/ft on average for Vancouver West.
Despite that - tower 1 is SOLD OUT.
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