Recently, I had the opportunity to be featured on CBC News The Early Edition with Michelle Eliot, where we discussed the current state of the Vancouver presale condo market.
If you have been considering a Vancouver presale condo—or wondering whether now is the right time to make a move—this is an important conversation to understand.
A Market Shift We Cannot Ignore
The numbers are striking.
In the first quarter of 2026, only 124 presale units were sold across British Columbia. Five years ago, that number was approximately 6,000 units over the same period.
This is not a typical slowdown.
This is a structural reset.
As I shared during the interview:
“This is not just a slowdown—it is a major reset.”
What Is Driving the Reset in Vancouver Presale Projects?
From a market perspective, three key forces are shaping today’s environment:
1. The Investor-Driven Model Has Weakened
Historically, presale projects Vancouver were heavily supported by investors.
Today:
- Borrowing costs are higher
- Market uncertainty has increased
- Short-term upside is less predictable
As a result, investor activity has significantly declined.
2. Resale Market Value Is More Compelling
Buyers are now comparing:
- Vancouver presale condos (future delivery, higher pricing)
- Resale properties (immediate occupancy, often better value)
In many cases, resale opportunities present stronger value.
3. Developers Are Under Pressure
Developers are navigating:
- High land costs
- Elevated construction costs
- Increased financing costs
- Slower presale absorption
If sales targets are not met, projects can be delayed or paused.
A Shift Toward End-Users
Another important change:
End-users are replacing investors as the primary drivers of demand.
This is influencing product design:
- Greater demand for one-bedroom + den and two-bedroom units
- Increased focus on livability and long-term use
Is the Presale Market Disappearing?
No—but it is evolving.
Presales remain essential to housing supply. However, the market is becoming:
- More selective
- More cautious
- More disciplined
What This Means for Buyers
If you are considering a Vancouver presale purchase today:
1. Evaluate the Developer Carefully
Focus on:
- Track record
- Financial strength
- Delivery history
2. Compare Against Resale
Do not evaluate a presale in isolation. Compare pricing and value against current resale opportunities.
3. Do Not Rely on Speculation
Your purchase should make sense based on:
- Today’s fundamentals
- Long-term suitability
A More Strategic Market
Today’s market is defined by a “wait-and-see” mindset.
However, these conditions often create opportunities for buyers who take a thoughtful, informed approach.
Full Interview Transcript (CBC – The Early Edition)
Below is the full transcript from my conversation on CBC’s The Early Edition for those who would like to read the discussion in detail.
Michelle Eliot (Host):
Prospective condo buyers in Vancouver have long been familiar with the pre-sale market. You sign up, you put some money down, you move into your brand-new unit in a year or two. But that option isn’t looking so rosy anymore. According to Vancouver Home Search, the first quarter of 2026 saw only 124 pre-construction units sold in all of B.C.. Five years ago, 6,000 units were sold over the same time period. For more on this, we’re joined now by Eunice Lee. She’s a realtor with Oakwyn Realty. Good morning, Eunice.
Eunice Lee:
Hello, Michelle. Good morning.
Michelle:
That is—I mean, that is like a 98% drop. What’s going on?
Eunice:
Yes, what we are seeing is not just a slowdown. It is a major reset. The traditional investor-driven model has weakened. Buyers have more attractive resale options, and developers are being squeezed by high costs and uncertainty. That combination has pushed the real estate activity to historically low levels.
Michelle:
And I mean, just thinking about, you know, we used to have lineups outside pre-sales, right? And to think of what a drastic change this has been. Can you tell us more about the factors that have taken us to this point?
Eunice:
Well, I think the momentum is completely changed, and the economic situation has not been helping at all. In 2021 and 2022 especially, everything was working in favour of pre-sales: low interest rates, strong investor demand, and expectations that prices would continue rising. But today, it’s almost the opposite. Borrowing costs are higher, buyers are more cautious, and many are finding better value in the resale market. So, this is not just a slowdown; it is really a reset in how buyers are evaluating pre-sale products.
Michelle:
You know, it’s interesting—it makes me wonder why was there such a demand for pre-sales five years ago?
Eunice:
Five years ago, we had a different situation. As I mentioned, we had low interest rates, and the population growth was a lot faster than what we are seeing right now. Immigration was higher. We were talking about—every year, for the next five years, we were having this much—I don’t remember the exact figure, but everybody was thinking that we are going to have a lack of housing, and the interest rate will continue to be on the lower side rather than going higher. So, based on those assumptions, the expectation followed that prices would continue rising.
Michelle:
And a lot of the units that were sold pre-sale were, you know, one-bedroom condos as well, right? So, has that changed?
Eunice:
Yes, as you mentioned, that a few years ago, the main driver was investors. Now, investors’ power got weakened, and they are almost disappearing in this market. So, the end users are getting into the market, and some of the first time buyers, they need one bedroom plus den at least, because they are thinking of future family members. So, we need more two-bedroom units—at least two-bedroom units. So, the developers are reshaping their marketing effort and moving forward with their projects.
Michelle:
Is it—I mean, is it going to be too late?
Eunice:
Yes, another thing we have to think about is what developers are really facing right now. They are really under pressure. They are dealing with high land costs, high construction costs, and higher financing costs. But at the same time, sales have slowed down significantly. So, if a project does not meet its sales targets, then that can affect financing and whether the project proceeds on schedule. So, this market is really difficult for both buyers and developers.
Michelle:
That’s just it… is it going to be obsolete?
Eunice:
I don’t think pre-sales are disappearing because they’re still an important part of housing supply. But I do think the market is evolving. I think we are likely to see fewer launches, more cautious buyers, and a stronger focus on end-users rather than investors. It will be a slower, more disciplined market.
Michelle:
What do you mean by that?
Eunice:
Comparing 2021 and 2022, we had significant demand and lineups. Moving into 2023 and 2024, buyers became more cautious. Now, that softness has become more established. Many buyers are taking a “wait-and-see” approach and carefully evaluating whether presale or resale opportunities make more sense.
Michelle:
So for a buyer who is interested in a pre-sale, what advice would you give?
Eunice:
If someone is considering a pre-sale purchase today, I would say be very thoughtful. Look for a developer with a strong and proven history. Make sure the project makes sense even without aggressive appreciation, and compare the presale price very carefully against resale values. Developer integrity and financial strength matter immensely in this kind of market.
Michelle:
Eunice, thank you very much for your time.
Eunice:
My pleasure. Thank you for having me.
Final Thoughts
The Vancouver presale market is not disappearing—it is recalibrating.
We are seeing a shift:
- From investor-driven demand → to end-user demand
- From rapid momentum → to disciplined decision-making
If you are considering buying, selling, or evaluating your options in today’s market, having the right strategy matters more than ever.
Let’s Talk
If you are considering:
- Vancouver presale projects
- Resale opportunities
- Or simply want clarity on your next move
I would be happy to help you assess your options and develop a strategy aligned with your goals.