No New Launches, But 26 Projects Completing: The Metro Vancouver Presale Opportunity Most Buyers Are Missing

If you’ve been watching the Metro Vancouver presale market and wondering why nothing new seems to be launching, you’re not imagining it. The first quarter of 2026 recorded zero concrete condo launches across the entire region — compared to 152 in Q1 2025. Developers who can’t hit the presale thresholds required for construction financing are sitting on the sidelines, waiting for conditions to improve before they commit to a new tower.

For buyers, the instinct is often to wait too — to hold off until the market “does something.” But there’s a compelling case to be made that the smartest move right now isn’t waiting for the next launch. It’s looking at what’s already built, or nearly built, and negotiating from a position of real strength.

This year, more than 26 notable projects are reaching completion across Metro Vancouver. That means a meaningful volume of near-completion and move-in-ready presale inventory is entering the market — often held by developers who are highly motivated to close. And in a buyers’ market where condo prices are down nearly 8 per cent year-over-year, that motivation translates directly into negotiating room for buyers who know what to look for.

Why Zero New Launches Is Actually News Worth Paying Attention To

The absence of new launches isn’t just a curiosity — it has real downstream consequences for buyers over the next two to three years. When developers aren’t launching today, the supply pipeline thins out considerably for 2028 and beyond. Metro Vancouver’s population is still growing. Demand for housing isn’t disappearing. What’s happening now is a compression in the pipeline, not a structural end to presale development.

The practical implication: buyers who secure a unit in a completing project today are locking in at today’s softened prices, with a much shorter wait to occupancy than a traditional presale, and with far less uncertainty about whether the project will actually get built — because it already has been.

What’s Completing in 2026

Several significant projects are wrapping up across the region this year. In Burnaby, Concord Pacific’s first phase at Concord Metrotown involves three towers — 65, 45, and 33 storeys — totalling nearly 1,400 condominium homes, all reaching substantial completion this year. Also in Burnaby, Polygon Homes’ 38-storey Perla tower is delivering approximately 330 strata market homes. In Coquitlam, Concert Properties’ 50-storey Myriad tower is working through final inspections.

These are projects from well-established developers with strong track records of delivery in Metro Vancouver. That matters enormously at the due diligence stage — and it’s part of what makes completing inventory so different in risk profile from a new launch where construction hasn’t even begun.

Across the wider region, the Daily Hive has identified 26 notable projects reaching completion in 2026 in Metro Vancouver. That’s a significant volume of inventory entering a market where buyer demand remains soft — which sets up a genuine negotiation window that is unlikely to last once the broader market turns.

The Rate Environment: Fixed Rates Have Risen, But Variable Remains Workable

One piece of context that matters for buyers right now: fixed mortgage rates have climbed due to rising bond yields. Major bank five-year fixed rates are sitting around 4.29 per cent as of late April, with some brokers offering closer to 3.9 per cent. Variable rates through brokers are available around 3.4 to 3.65 per cent, with the Bank of Canada’s overnight rate held at 2.25 per cent on April 29 — and the prime rate at 4.45 per cent.

For buyers considering near-completion presale units, this rate environment is actually more predictable than it would be for a traditional presale with a two-to-three year completion window. You can get a rate hold or firm mortgage pre-approval now because you’re buying something that will complete within months, not years. That clarity removes one of the major uncertainties that hangs over conventional presale purchases in a volatile rate environment.

What the Price Correction Means in Practice

Metro Vancouver condo prices are currently sitting approximately 7.9 per cent below where they were a year ago, with the benchmark condo price in the region around $708,000 — down roughly 6.8 per cent year-over-year. BC home sales more broadly came in at 6,315 transactions in April, down 1.9 per cent compared to April 2025.

For buyers, this correction isn’t a reason to panic or stay out — it’s a recalibration to more realistic levels after years of prices that were, by most measures, unsustainable. Buying at today’s prices in a completing project means you’re not paying a 2021 premium. You’re paying a 2026 price with 2026 context, in a building you can walk through before you sign.

What This Means for Buyers Right Now

The window of genuine buyer advantage in Metro Vancouver doesn’t stay open indefinitely. It opens when inventory is high, launches are slow, and developers are motivated — and that’s exactly the conditions in play right now. Here’s how to approach it practically.

First, focus your search on projects that are 90 per cent or more complete, or already at occupancy. These are the situations where developers want to close quickly and will often negotiate on assignment pricing, upgrades, or deposit structures. Second, verify the developer’s financial standing and project completion status independently — your real estate lawyer can help with this. Third, get your financing in order now, before you’re in a negotiation. A buyer who walks in pre-approved moves faster and negotiates harder than one who hasn’t.

The market is offering something it doesn’t offer often: time. Use it to prepare, then act when the right opportunity presents itself.

The Bottom Line

Zero new presale launches sounds like bad news. In reality, for buyers who understand the market, it’s a signal that the window of opportunity in completing and near-completion inventory is wide open. Twenty-six projects wrapping up across Metro Vancouver this year, softened prices, motivated developers, and a stable rate environment for near-term closings — the pieces are in place for buyers who are ready.

If you’d like to know which completing projects in Metro Vancouver are worth a serious look right now, register at vancouverdwelling.ca/market-intel/ and I’ll make sure you hear about the right opportunities first.

— Jacky, Vancouver Dwelling

Sources: Business in Vancouver, Daily Hive Urbanized, Storeys, RBC Royal Bank, BCREA, CREA.