Report from MPC Intelligence president Jennifer Podmore at (604) 605-1516. "In July 2006, MPC Intelligence began releasing reports on the real estate development industry in British Columbia. Typically the reports include a sub market overview and updates on recent project launches. This week we have included a report which details all new project sales activity within the last 60 days.
Since September 1, 2006 a total of 43 new developments or 3,833 units have been released to the market in Greater Vancouver with 80% of the product being in the form of condominiums, 19% townhomes and 1% single family homes. Of the 3833 units released in the past 60 days, 41.6% of the supply remains available.
If we look at the entire market for new developments available for sale, in all product types, only 20.6% or 4,226 homes remain available for purchase; meaning that just 37.9% of all available product has been on the market for 60 days or less."
