Below is a brief snapshot of current resale condo inventory and average asking prices for newer condos (ie. two years old or newer, including assignment sales).

This analysis excludes townhouse and condos and does not break down woodframe versus concrete (hence East Vancouver pricing appears below Burnaby and Maple Ridge/Poco/Pitt Meadows is lowest).

Of note, while pre-sales activity remains sluggish overall, resales inventory for newer condos remains very low in most submarkets.

Data source: MLS

Admiral Operations Ltd. has applied to the City of Vancouver for a development permit for a new townhouse project located on the West side of Oak Street between West 55th Avenue and West 57th Avenue. The site comprises two single family lots, 7239 & 7255 Oak Street.

The proposal calls for two three-storey townhouses and rowhouse buildings. Details include:

• 18 townhouse units including:
  • 3 one-bedrooms, 5 two-bedrooms & 10 three-bedroom units;
• Unit sizes ranging from 520 to 1,227 SF;
• one level of underground parking having vehicular access from the rear lane.

Under the site’s proposed RM-8AN zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The architect for the project is Formwerks.

The site was assembled in 2018 for $7,960,000, or $463 per buildable SF based on the application.

The above chart excludes townhouse and duplex sales.