Here is a snapshot of where concrete values are this year based on resales. Taking a look at Year-to-date MLS resales in Vancouver West for buildings built in 2012 or newer, and excluding the downtown peninsula, yields the following:
- 134 sales, averaging $808 per SF
- This market is now firmly entrenched well above $700 per SF in most areas
- The cheapest sale was $584 per SF
Source: MLS
The average for Downtown Vancouver remains higher ($904 per SF YTD); however, this is skewed by higher end luxury sales in building such as Residences at Hotel Georgia and 3 Harbour Green. Ultimately, the scarcity of newer concrete product, even in areas that are percieved to have lots of inventory like Olympic Village, is driving Westside concrete values to match or even exceed Downtown prices.
